PUBLISHER: Visiongain | PRODUCT CODE: 1294696
PUBLISHER: Visiongain | PRODUCT CODE: 1294696
The global Propylene Glycol market is projected to grow at a CAGR of 4.1% by 2033.
“The Propylene Glycol Market Report 2023-2033”: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
The propylene glycol market is anticipated to witness significant growth due to the growing demand for unsaturated polyester resin (UPR). UPR is a key end-use application of propylene glycol, predominantly used in the production of composite materials, such as fiberglass-reinforced plastics. The increasing adoption of UPR in various industries, including construction, automotive, marine, and electrical, is expected to fuel the demand for propylene glycol. Moreover, the automotive industry's growing emphasis on lightweight materials and fuel efficiency is boosting the demand for UPR in the production of automotive parts, such as body panels, interior components, and structural reinforcements. Propylene glycol acts as a crucial component in UPR formulations, providing enhanced stability, viscosity control, and curing properties. As the automotive industry continues to witness technological advancements and increasing demand for lightweight materials, the propylene glycol market is expected to experience sustained growth.
Additionally, the marine and electrical industries are significant consumers of UPR, further driving the demand for propylene glycol. UPR-based composites find extensive applications in boat manufacturing, wind turbine blades, and electrical insulation, among others. The rising focus on renewable energy sources, such as wind power, is driving the demand for UPR-based materials, consequently bolstering the propylene glycol market.
The price and profitability of propylene glycol producers are significantly influenced by the availability and cost of raw materials derived from petroleum. These raw materials, obtained from petroleum feedstocks through refining and petrochemical processes, serve as the primary source for propylene, the key precursor in propylene glycol production. The propylene oxide is the primary source of petroleum-based propylene glycol and changing price dynamics affects the overall market prices. Fluctuations in the availability and cost of petroleum feedstocks directly impact the production costs of propylene glycol. High or volatile petroleum prices increase the procurement costs of propylene feedstock, thereby exerting upward pressure on the production costs of propylene glycol. Consequently, propylene glycol producers may encounter challenges in maintaining profitability and competitiveness.
Additionally, the availability of petroleum feedstocks can affect the supply of propylene, thereby impacting the production capacity and availability of propylene glycol. Supply disruptions or constraints in the petroleum industry can lead to propylene shortages, further exacerbating the challenges faced by propylene glycol producers.
You need to discover how this will impact the propylene glycol market today, and over the next 10 years:
This report tells you TODAY how the propylene glycol market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, ""V" ", "L", "W" and "U" are discussed in this report.
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 16 leading national markets:
The report also includes profiles and for some of the leading companies in the Propylene Glycol Market, 2023 to 2033, with a focus on this segment of these companies' operations.
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Overall world revenue for Propylene Glycol Market, 2023 to 2033 in terms of value the market will surpass US$5,022.9 million in 2023, our work calculates. We predict strong revenue growth through to 2033. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
In summary, our 360+ page report provides you with the following knowledge:
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Our study is for everybody needing commercial analyses for the Propylene Glycol Market, 2023 to 2033, market-leading companies. You will find data, trends and predictions.