Reports and Data's latest research study on the Propylene Glycol market gives a thorough analysis of it. In this report, the global Propylene Glycol market is analyzed historically and currently to assess its potential future development. In order to identify opportunistic business opportunities for stakeholders, the study provides detailed information on the key growth factors, restraints, and key trends that are paving the way for future growth in the Propylene Glycol market.
The global Propylene glycol market size was USD 5,985.94 Million in 2022 and is expected to register a rapid revenue CAGR of 4.90% during the forecast period. Rising demand for propylene glycol in industries, such as F&B, pharmaceutical, and Cosmetics industries and increasing applications in the production of polyester resins and antifreeze agents and automotive production are key factors driving market revenue growth.
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Market Overview:
Different businesses in the chemicals and materials industries differ in size, geography, business style, and end-market focus. These businesses are part of a larger ecosystem that includes oil, gas, coal, minerals, and bio-based products as raw materials on one hand and a wide range of application industries on the other. It is traditional to divide the chemical industry into three major categories: petrochemicals, diversified manufacturers, and specialized industries.
While the wider patterns discussed in the previous section apply to the entire sector, the complexities of the distinctions among the various players indicate the need to analyze trends by segment of the industry. As part of its multiverse series, Deloitte classified chemical sector stakeholders into three groups: natural owners, distinctive commodities, and solution providers. Each of these groups usually has its own strategic imperatives. It is common for vertically integrated natural owners to prioritize continuous improvement over innovation when operating their businesses. By focusing on supply chain efficiency, market innovation, and cost optimization, differentiated commodities flourish in a highly fragmented and complex industry. This is exactly what solution providers do: they focus on maximizing the value of their unique products as well as their application expertise and services.
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Research Methodology: Propylene Glycol Market
The research methodology adopted by analysts to compile the Propylene Glycol market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Propylene Glycol market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews with genuine resources, analysts have emphasized the changing scenario of the Propylene Glycol market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, import and export data of major countries around the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Propylene Glycol market.
Some recent developments are as follows:
- On 1 July, 2021, Dow unveiled a strategic plan to undertake a series of capacity expansions for silicones, propylene glycol, and other specialty materials. These expansions aim to meet rising demand in key end-markets that prioritize sustainable solutions and are experiencing faster growth rates than the overall Gross Domestic Product (GDP).
- On 23 September, 2020, Manali Petrochemical Limited revealed its intention to triple the annual production capacity of propylene glycol from 22,000 MT to 70,000 MT. This expansion will take place in two phases and require an investment of approximately USD 18.1 million. The initial phase aims to increase capacity to 46,000 MT within 18-21 months, followed by an additional expansion of 24,000 MT.
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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