Global propylene glycol Market demand is expected to witness a steady growth on account of its increasing usage in the production of polyester resins. Propylene glycol is an organic compound with a chemical formula C3H8O2. Propylene glycol is produced using propylene oxide. It is a colorless as well as an odorless liquid and is easily miscible in water, chloroform and acetone. It is mainly used in the production of polymers, however, there are some uses of propylene glycol in food processing. Usage of propylene glycol as a chemical feedstock is a major application driving the overall demand. This organic compound is used in the manufacturing of polyester resins, which in turn is used bulk molding, sheet molding and laser printer toners. Wall panels made from polyester resins are widely used in restaurants, restrooms, and kitchens, which require low maintenance washable walls.
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Further, its application as a
food preservative has been driving the market demand in recent years. They are
used in liquid sweeteners, ice creams, and coffee based drinks. Propylene
glycol is used as a solvent in oral and injectable pharmaceutical drugs. Their
usage in the manufacturing of veterinary drugs is expected to propel the demand
over the forecast period. Recent trends have shown that E-cigarettes contain a
flavoured liquid, which is a mixture of vegetable glycerine and propylene
glycol.
Health safety related to this
organic compound offers a major challenge for the overall industry growth. Some
consumers may show allergic reaction, which includes a headache, dry and skin.
The U.S food and drug administration categorizes propylene glycol usage as safe
when used in small quantities but offers risk when exposed to plasma concentration.
Market segmentation is done based on application, which includes polyester
resin, food additives, pharmaceuticals and cosmetics
Polyester resins account for
maximum segment share owing to its high usage in manufacturing of other organic
compounds. Segmentation demand is followed by food additives on account of its
use to increase the texture and shelf life of packaged eateries. The
pharmaceutical application is expected to provide great opportunities over the
forecast period. North America has been the leading market in recent years in
terms of demand and is expected to continue its increasing application in
pharmaceuticals and food processing industry.
The U.S has shown substantial
usage of propylene glycol in the aerated beverage industry. Further, regional
demand is followed by Asia Pacific mainly on account of increasing application
of propylene glycol as a food additive. Development of packaged food industry
and retail sector has helped in increasing the demand in emerging economies
including India and China. These emerging economies are expected to witness a
significant growth in terms of production of propylene glycol on account of
high investment in organic chemical manufacturing.
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Europe is expected to show a
steady growth over the forecast period with high demand as an additive in the
manufacturing of milk products and confectionaries. South America and Africa is
expected to witness a stagnant growth owing to the slow growth of overall
development of application industries. Major players operating in the
market are DuPont, BASF, and Dow Chemicals. Other major players present in the
market are LyondellBasell, SKC, Huntsman, SKC Co Ltd, Temix International and
Global Biochem. Companies are focusing on research and development in order to
find out new applications for propylene glycol. This is expected to diversify
the application portfolio and therefore propelling the demand in near future.
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