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Bio-based propylene glycol is product that is derived from plants by catalytic process, having high boiling and flash point, stability, and low vapor pressure. Bio-based propylene glycol helps in reducing greenhouse gas emissions. It offers fruity odor and is used in the manufacturing of colognes and perfumes. It has very low toxicity and is listed in generally recognized as safe (GRAS) for use in food and pharmaceuticals. The bio-based propylene glycol finds applications in waste heat recovery, solar system, and others.

Market Dynamics:-

Eco-friendly methods of manufacturing of propylene glycol is a major factor driving growth of the global bio-based propylene glycol market. It is used as a coolant in automobile industry due to its lower freezing point property. The coolant helps in preventing corrosion in the cooling system and also carries away the engine's waste heat. Significant growth in automotive industry due to increasing middle class and young population is expected to boost growth of the bio-based propylene glycol market during the forecast period. According to the U.S. International Trade Organization (ITA) 2017, China is the world’s largest vehicle market, reporting sales of over 28 million units in 2016, which is expected to reach 35 million units by 2025.

The low stability of catalyst, and high reaction risk during manufacturing are the major factors that would restrict the growth of anionic surfactants market. The increasing demand of renewable products and bio-based methods is expected to create lots of opportunity for bio-based propylene glycol market.

Market Outlook:-

Asia Pacific is expected to be the fastest growing region in the bio-based propylene glycol market during the forecast period. This is mainly due to growing construction industry in this region, especially in China, India, Malaysia, and other countries. Products made from bio-based propylene glycol are used to make building panels, bathroom components, corrosion resistant tanks, and others. According to India Brand Equity Foundation (IBEF), number of Indians living in urban area is expected to increase from 434 million in 2015 to 600 million by 2031. According to IBEF, India’s real estate market size is expected to reach US$ 853 billion by 2028, increasing from US$ 126 billion in 2015. Significant growth in construction industry is expected to boost growth of the bio-based propylene glycol market in the region during the forecast period.

Key Players:-

Key players operating in the global bio-based propylene glycol market include Archer Daniels Midland Company, BASF SE, Huntsman International LLC., Oleon, The Dow Chemical Company, Ashland, DuPont Tate & Lyle Bio Products Company, and others.

Market Taxonomy:-

On the basis of application, the global bio-based propylene glycol market is segmented into:

  • Solvent
  • Chemical Intermediates
  • Unsaturated Polyester Resin
  • Antifreeze & Coolant
  • Others

On the basis of end-use industry, the global bio-based propylene glycol market is segmented into:

  • Food processing
  • Construction
  • Cosmetics
  • Automotive
  • Pharmaceuticals
  • Transportation
  • Marine
  • Others

On the basis of region, the global bio-based propylene glycol market is segmented into:

  • North America
    • U.S.
    • Mexico
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Europe
    • Germany
    • Spain
    • U.K.
    • Italy
    • France
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN
    • Australia
    • Rest of Asia Pacific
  • Middle East
  • Africa

Bio-Based Propylene Glycol Market Key Developments:

  • In March 2015, Archer Daniels Midland Company (ADM) and Clariant AG announced introduction of deicing products derived from bio-based propylene glycol in North America. The products include Clariant’s brands of aircraft de-icing fluids ‘Safewing’ and ‘Octaflo’ which are made with ADM’s bio-based propylene glycol. This propylene glycol offers high performance and also reduce carbon footprint.
  • In 2016, METabolic Explorer, a biotechnology company engaged in development of bio-based compounds, announced that company is focused on development of a monopropylene glycol (MPG, or 1.2 propanediol) production process by fermentation of second generation cellulose sugars. The development process is expected to be carried out at METabolic EXplorer site at Saint-Beauzire.
  • In June 2016, S2G Biochemicals, a company based in British Columbia, Canada, announced initiation of its commercial production of bio-based Monopropylene Glycols. The production is carried out using glycerine at site located at Tennessee, USA of S2G’s operating partner, Pennakem LLC. This is expected to strengthen S2G’s market presence in global bio-based propylene glycol market.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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