Technavio Announces the Publication of its Research Report Global Bio-based Propylene Glycol Market 2017-2021
Technavio recognizes the following companies as the key players in the global bio-based propylene glycol market: Ashland, BASF, Cargill, Archer-Daniels-Midland (ADM), and Oleon.Other Prominent Vendors in the market are: Air Liquide, Global Bio-chem Technology Group, Houghton, Orison Marketing, and S2GBioChem.Commenting on the report, an analyst from Technavios team said: One trend in the market is increase in demand for green construction. Bio-based propylene glycol is used in the production of unsaturated polyester resins, which are used to make electrical components, paints and coatings, pipes, tanks, and ducts, all important products in the construction industry.
The industry and the consumers are becoming more responsible toward the environment, as a result of which the demand for green buildings has grown.
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According to the report, one driver in the market is growth in biodiesel production. Biodiesel production is increasing worldwide and is expected to be worth more than $40 billion by 2021, growing at a CAGR of more than 3.5% during 2016-2021.
The US, Germany, Brazil, Indonesia, and Argentina are the largest producers of biodiesel. One of the main by-products of biodiesel production is glycerol, also known as glycerin.
It is estimated that for every 100 pounds of biodiesel produced, approximately 10 pounds of crude glycerol are also generated. Glycerin is one of the major feedstocks used for the production of bio-based propylene glycol along with soy and corn.Further, the report states that one challenge in the market is seasonality in availability and prices of bio-based propylene glycol.
The major feedstocks for bio-based propylene glycol are glycerin, corn, and soy. Corn and soy are agricultural products and their supply is very irregular during the year.
There are peak and dull seasons of production, and this will, in turn, affect the procurement and production costs and eventually the prices of bio-based propylene glycol. During the peak season, product costs will be low.
In turn, the prices of bio-based propylene glycol will also fall and its supply will increase. However, during the dull season, the prices of bio-based propylene glycol will be high and supply will reduce.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
About Bio-based Propylene GlycolPropylene glycol, which is also known as 1,2-propane diol, has various applications in industrial sectors such as pharmaceuticals, food, personal care, and construction. It is used as an antifreeze material such as in the de-freezing of aircraft before take-off.
Propylene glycol is primarily used as a solvent, in binding and transporting other substances as an excipient. It also finds application as an emulsifier and assists in balancing insoluble fluids.Technavios analysts forecast the global bio-based propylene glycol market to grow at a CAGR of 8.27% during the period 2017-2021.Covered in this report
The report covers the present scenario and the growth prospects of the global bio-based propylene glycol market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.The market is divided into the following segments based on geography:
MEATechnavio's report, Global Bio-based Propylene Glycol Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.
Know more about report at marketreportscenter.com/reports/55…-market-2017-2021
OleonOther prominent vendors
Global Bio-chem Technology Group
Growth in biodiesel production
For a full, detailed list, view our report Market challenge
Seasonality in availability and prices of bio-based propylene glycol
For a full, detailed list, view our report Market trend
Increase in demand for green construction
For a full, detailed list, view our report Key questions answered in this report
What will the market size be in 2021 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
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