Propylene Glycol Market Perceptions Highpoint Industrial Expansion in Coming Years, reports Fact.MR study
Verfasser: ashwani_kailiya on Wednesday, 16 October 2019The recently published research report by Fact.MR regarding the global propylene glycol market includes product classification and current synopsis along with product upgrades and innovations. The propylene glycol market was pegged at more than 2,500 Thousand Tons in 2018, and the global market is likely to witness a strong growth rate during the forecast period on the backdrop of increasing building & construction activities along with expanding production capacities of key manufacturers across the globe.
To produce a range of petrochemical products, the worldwide chemical industry was strongly dependent on fossil fuels. However, increasing awareness of the advantages offered by renewable chemistry is now shifting the industry's focus on the development of bio-based chemicals such as propylene glycol. Due to the development of different end-user sectors, the propylene glycol industry is expected to experience powerful development during the forecast period. Owing to the active utilization of propylene glycol in the transportation, building & construction sectors, the petroleum-based propylene glycol segment retained an important market share. In terms of end-use segment, the segment of transportation is expected to grow rapidly due to rising automotive sales.