Global Biobased Propylene Glycol Market Poised for Steady Growth, Projected to Reach USD 7,956.5 Million by 2035 | Future Market Insights, Inc.
By 2035, biobased propylene glycol (PPG) sales in the USA are expected to reach USD 952 million, growing at 6.0% CAGR. This growth is driven by rising demand for sustainable personal care products, consumer preference for non-toxic ingredients, and USDA certification supporting biobased materials, pushing the industry toward eco-friendly innovation.
NEWARK, Del, Feb. 12, 2025 (GLOBE NEWSWIRE) — Global , Associate Vice President at Future Market Insights (FMI).
Prominent Drivers of the Biobased Propylene Glycol Market
- Corporate Sustainability Initiatives: Increasingly, firms are embracing sustainability goals, meaning that their utilization of renewable chemicals such as biobased propylene glycol is rising in order to live up to the environmental expectations.
- Growing Demand in the Food and Beverage Industry: Propylene glycol biobased is being accepted widely as a stabilizer, emulsifier, and humectant in food products, which is increasing the demand.
- Expansion in the Cosmetics and Personal Care Industry: Demand for natural and sustainable ingredients in skin care, hair care, and beauty products will continue to force the use of biobased propylene glycol.
- Regulatory Push for Green Chemicals: Stringent environmental regulations are encouraging industries to switch from petroleum-based to renewable chemicals, such as biobased propylene glycol.
- Cost-effectiveness in Long Term: As production efficiencies improve, the long-term cost savings of using renewable chemicals are becoming more attractive to industries.
- Rising Demand in Pharmaceuticals: With a growing need for sustainable excipients in pharmaceutical formulations, the role of biobased propylene glycol in the pharmaceutical sector is very prominent.
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Challenges Faced by Biobased Propylene Glycol Market
- Higher Production Costs: Biobased propylene glycol production remains more expensive than its petroleum-based counterpart, which can deter widespread adoption, particularly in cost-sensitive industries.
- Fluctuating Raw Material Prices: The raw material prices, mainly vegetable oils and corn, have a fluctuation pattern as per the agricultural condition, thereby having an effect on the cost structure and stability of the biobased propylene glycol market.
- Limited Production Capacity: The production capacity of biobased propylene glycol still lags far behind that of conventional propylene glycol and may impact the supply and scale.
- Lack of Consumer Awareness: There is still very little awareness of biobased propylene glycol among consumers and businesses despite growing demand for sustainable products, which slows broader market penetration.
- Technological Challenges: Development is still ongoing, and the perfect technology to support large-scale production of biobased propylene glycol with consistency and lower cost has yet to be perfected.
- Competition from Petroleum-Based Alternatives: The large-scale use of petroleum-based propylene glycol, along with its established infrastructure and lower cost, continues to be a major challenge to the growth of biobased alternatives.
Competitive Landscape of the Biobased Propylene Glycol Market
The key players in the bio-based propylene glycol industry are increasing their production to meet demand in such areas as automotive, personal care, and food & beverage. Advanced technologies ensure consistent quality and competitiveness in the sustainable chemicals market.
Companies are also engaging in strategic alliances to innovate and expand product offerings, entering pharmaceuticals and coolants for automotive industries. Expansion into other geographic locations allows the companies to venture into new markets and tap into the growth in demand for environmentally friendly products in developing economies.
Recent Development in Biobased Propylene Glycol Market
- March 21, 2024, Dow announced the launch of two new sustainable varieties of propylene glycol (PG) solutions in North America, featuring bio-circular and circular feedstocks. These solutions are suitable for a wide range of applications, allowing customers to offer high-performance products with externally verified sustainability benefits through a mass balance approach.
Key Players
- Cargill, Incorporated
- Dow Inc.
- BASF SE
- ADM (Archer Daniels Midland)
- LyondellBasell Industries
- Huntsman Corporation
- Repsol S.A.
- SK Global Chemical
- P&G Chemicals
- GLOBAL BioChem Technology Group
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Key Segments of the Industry
By Source
In terms of Sources, the industry is divided into Corn-Based, Sugarcane-Based, Soy-Based, and Others.
By Application
In terms of Application, the industry is divided into Unsaturated Polyester Resins (UPR), Personal Care and Cosmetics, Pharmaceuticals, Food and Beverage, Automotive and Industrial Coolants, Adhesives and Sealants, Deicing Fluids, and Others.
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