DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/wncsr7/propylene_glycol) has announced the addition of the "Propylene Glycol Market by Source, Application - Global Trends & Forecasts to 2019" report to their offering.
The propylene glycol market is projected to witness a CAGR of 5.7% between 2014 and 2019, and is expected to generate a global market value of $4,194.59 million by 2019
This report on Propylene Glycol considers its major applications namely, unsaturated polyester resin, pharmaceuticals & cosmetics, antifreeze & functional fluids, liquid detergents, and plasticizers. The major factors driving the global propylene glycol market include growing demand from the Asia-Pacific region and from the application segments. The pharmaceuticals & cosmetics application market growth is one of the major drivers for this market. Increasing cost of the conventional feedstock and regulations of conventional chemicals are further driving it globally.
Unsaturated polyester resin is the largest application of propylene glycol across the world. The market size in terms of value for the same is projected to reach $1,472.8 million by 2019. The propylene glycol demand for unsaturated polyester resin application from Asia-Pacific region is growing at a high rate. This is due to the growing industrialization and rise in the manufacturing sector, especially China, and huge investments made that related to unsaturated polyester resin manufacturing projects.
While unsaturated polyester resin currently forms the largest application market for propylene glycol, the pharmaceuticals & cosmetics industry is also witnessing increasing demand from the manufacturers of medical accessories and personal hygiene products. Pharmaceuticals & cosmetics is the fastest growing application of propylene glycol, driven by its huge R&D efforts leading to product innovations and the preference for expensive& effective pharmaceuticals & cosmetics product globally.
Petroleum-based is the commonly used type of propylene glycol globally. The market for the same is estimated to generate a market size of $3,655.7 million by 2019. Due to the negative impact of the conventional propylene glycol, emphasis is laid on production and consumption of bio-based propylene glycol. Bio-based propylene glycol is primarily preferred for pharmaceuticals & cosmetics applications as they are considerably less toxic and have a pleasant smell than its petroleum counterpart, which hasgreat advantages for the industry of personal care, home care, and cosmetics.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Propylene Glycol Market, By Source
8 Propylene Glycol Market, By Application
9 Regional Analysis
10 Competitive Landscape
11 Company Profiles
- Archer Daniels Midland Co.
- BASF SE
- Dow Chemical Company
- Dupont Tate & Lyle Bio Products LLC
- Global Bio-Chem Technology Group Co. Ltd.
- Huntsman Corporation
- Lyondellbasell Industries N.V.
- SKC Co. Ltd.
- Temix International S.R.L.
For more information visit http://www.researchandmarkets.com/research/wncsr7/propylene_glycol