projected trajectory of the Biobased
Propylene Glycol Market indicates an expected valuation of USD 5.1 Billion
by 2024, characterized by a Consistent and gradual growth trend. Looking
forward, the market is forecasted to attain a value of USD 6.87 Billion by
2033, maintaining a consistent Compound Annual Growth Rate (CAGR) of 4.65%
throughout the forecast period from 2024 to 2033. This projection underscores
the market's enduring and predictable growth, positioning it as a key player in
the realm of sustainable and environmentally friendly chemical solutions. Brace
for a market that promises sustained positive momentum in the biobased
propylene glycol sector.
We Market Research
propylene glycol is an environmentally friendly substitute for its
petroleum-based equivalent because it is derived from renewable resources like
plants. This versatile solvent, humectant, and stabilizer is produced by
procedures like fermentation and used in a variety of industries' goods,
including food, cosmetics, pharmaceuticals, and automotive fluids.
Sustainability objectives are aligned with its environmentally responsible
procurement, which lessens environmental effect and decreases dependency on
fossil fuels. This biobased substitute encourages a more environmentally
friendly method of production and use while preserving the functionality of
conventional propylene glycol.
biobased propylene glycol business is driven by several essential components.
Growing environmental concerns and a shift towards sustainable practises are driving
up demand for renewable, eco-friendly alternatives across a number of
industries. Industry growth is fueled by laws that favor bio-based products and
rising public awareness of them. Businesses that spend in R&D to advance
bioproduction technologies and broaden applications contribute to the growth of
this sector. The versatility of biobased propylene glycol, which functions
similarly to petroleum-based competitors while leaving a less carbon footprint,
is another significant consideration. When taken as a whole, these components
support a bright future for the market that is driven by sustainability,
innovation, and support from the government for greener solutions.
Market Size in 2024
Market Forecast in 2033
CAGR % 2024-2033
Consumption, company share, company heatmap, company production capacity,
growth factors and more
Increasing environmental regulations and
concerns about the ecological impact of traditional petrochemical-based
products have accelerated the demand for biobased alternatives like propylene
glycol, which have a lower environmental footprint.
The versatile nature of propylene glycol makes it a key ingredient in a wide range of industries, including pharmaceuticals, food and beverages, cosmetics, and automotive. The expanding use of biobased propylene glycol in these applications is driving market growth.
Ongoing research and development efforts to enhance the production processes, improve the quality, and explore new applications for biobased propylene glycol contribute to market expansion. Innovations in technology and production methods are key drivers.
By End-Use and By Region
North America, Europe, APAC, South
America and Middle East and Africa
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria
Biobased Propylene Glycol Industry: Dynamics &
Rising awareness of the environmental impact of
petroleum-based propylene glycol - The
Biobased Propylene Glycol Market is being driven by growing environmental
awareness regarding petroleum-based propylene glycol. The desire for
sustainable alternatives is fueled by growing awareness of the negative
environmental effects of propylene glycol derived from petroleum, including its
carbon footprint and contribution to pollution. Greener, renewable propylene
glycol that minimizes environmental harm and depends less on fossil fuels is
provided by biobased propylene glycol. Increased consumer preference and
industry moves towards environmentally friendly products are being driven by
this increased awareness, which is driving the market traction for biobased
propylene glycol as a more sustainable and ecologically conscientious option.
Growing consumer preference for green products - The
Biobased Propylene Glycol Market is driven primarily by consumers' growing
inclination for environmentally friendly products. Growing consumer
consciousness regarding environmental effects has led to a growing need for
eco-friendly and sustainable products. These preferences are met by biobased
propylene glycol, which provides a renewable and eco-friendly substitute for
its petroleum-based counterpart. Because of its lower carbon footprint and
environmentally benign production methods, biobased propylene glycol is
becoming more and more popular among customers who are concerned about the
environment. Growing customer preference for sustainable options drives market
expansion and encourages innovation and the adoption of greener solutions in a
variety of industries.
logistical challenges and potentially higher
transportation costs - Potential
increases in transportation costs and logistical difficulties are significant
obstacles to the Biobased Propylene Glycol Market. Because the locations of
feedstock suppliers are often different from those of manufacturing facilities,
complex supply chain logistics arise. Transporting agricultural goods or
biomass across longer distances for production may lead to increased costs and
carbon emissions. Moreover, logistical difficulties and delayed delivery may
arise from the insufficient infrastructure for the production and distribution
of biobased commodities. Notwithstanding the environmental advantages of
biobased propylene glycol, lengthier supply routes or the requirement for
specialist handling may result in greater transportation costs, which could
limit the product's ability to compete on price.
Biobased Propylene Glycol Segmentation
Market- By Application Analysis
By Application, the Biobased Propylene Glycol Market is Categories into Functional Fluids and Antifreeze Products, Unsaturated Polyester Resins, Pharmaceuticals, Cosmetics, Detergents and Household Products, Other Applications. The Cosmetics segment accounts for the largest share of around 40% in 2022.
Biobased Propylene Glycol is essential to many cosmetic formulae due to its humectancy, emollient action, and fragrance-dissolving potential. It's frequently found in skincare products like lotions and creams, makeup like foundations and mascaras, and hair care products like shampoos and conditioners. An additional factor supporting BPG use in this industry is the growing popularity of natural and organic cosmetics fuel the market growth.
following segments are part of an in-depth analysis of the global Biobased
Propylene Glycol Market:
Building & Construction
Cosmetics & Personal Care
Food & Beverage
Biobased Propylene Glycol Industry: Regional Analysis
North America Market Forecast
North America dominate the Biobased Propylene Glycol Market with the highest revenue generating market with share of more than 46%. North America leads the region because of its strict environmental laws that encourage sustainable alternatives, growing customer demand for environmentally friendly goods, growing knowledge of the health advantages of BPG over propylene glycol derived from petroleum and the dominance of large BPG producers like Dow and Cargill.
Europe Market Statistics
is the second-largest market for Biobased Propylene Glycol due to Higher
disposable incomes driving consumer preference for sustainable products,
Technological advancements in BPG production, Government initiatives supporting
bio-based industries and Growing demand in personal care and pharmaceuticals
further fuel the market growth.
Asia Pacific Market Forecasts
Pacific is expected to be the fastest-growing market for Biobased Propylene
Glycol during the forecast period. In the Asia-Pacific region, several drivers
fuel the rapid growth of the Biobased Propylene Glycol market like the rapid
industrialization and economic growth of nations like China and India and government
measures to promote sustainability and increased environmental consciousness also
contribute to the growth of this market.
Key Market Players
Biobased Propylene Glycol Market is dominated by a few large companies, such as
Archer Daniels Midland
The Dow Chemical Company
World Wide Chemicals,
September 2023, Dow
partners with biotech company Genomatica to develop and commercialize a new,
more sustainable technology for producing Bio-PDO from renewable feedstocks.
September 2023, ADM signs
a multi-year supply agreement with a leading personal care and cosmetics
company to provide Bio-PDO for its products.
August 2022, ADM invests
in a joint venture with a European biotechnology company to develop
next-generation technologies for bio-based chemicals, including Bio-PDO.
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Biobased Propylene Glycol Market was valued at USD 4.41 Billion in 2022.
Biobased Propylene Glycol Market size will increase at approximate CAGR of 4.65% during the forecasted period.
Major companies operating within the Biobased Propylene Glycol Market Are Archer Daniels Midland Company, Ashland Inc., Cargill Incorporated, BASF SE, The Dow Chemical Company, Evolon GmbH, Myriant Corporation, Roquette Frères, Susterra, Inc., World Wide Chemicals, Inc. and Others.
North America dominates the market with an active share of 46%.
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