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Poly Propylene Glycols Market: By Product By Application and Region Forecast 2019-2030
Poly Propylene Glycols Market: By Product By Application and Region Forecast 2019-2030
Poly Propylene Glycols Ppg Market size was valued at US$ 1,498.9 Mn in 2023 and is expected to grow at a CAGR of 7.4% from 2024 - 2030. Application as a food preservative and usage as a chemical feedstock of propylene glycol are the drivers which boost the global poly propylene glycols (Ppg). There are a few restrain that hang the growth including health safety related to this organic compound and allergic reactions can be displayed by consumers. It is expected that the use in the manufacture of veterinary drugs would propel enough opportunities towards the global poly propylene glycols (Ppg) market.
Study Period
2024-2030Base Year
2023CAGR
7.4%Largest Market
North AmericaFastest Growing Market
Asia pacific
It is noticed that the global poly propylene glycols (Ppg) market has a significant market growth rate on the perspective of increasing pharmaceutical application. The pharmaceutical industry is responsible for the research, development, production, and distribution of medications. The market has experienced significant growth during the past two decades, and pharma revenues worldwide. In many pharmaceuticals, including oral, injectable, and topical formulations, propylene glycol is used as a solvent. Many water-insoluble prescriptions drugs use PG as a solvent and carrier; benzodiazepine tablets are one example. All this help in growth of market.
North America contributed major revenue followed by Europe and Asia Pacific. In 2019, North America region accounted huge growth rate and is anticipated to grow with a forecast year on perspective of growing application in the pharmaceutical and food processing industries. is expected to continue. The U.S. has demonstrated extensive propylene glycol use in the aerated beverage industry.
Europe with 26.7% demand as an additive in the manufacturing of milk products and confectionaries. Asia Pacific, including India and China, the growth of the packaged food industry and the retail sector has helped to increase demand with high investment in the production of organic chemicals.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market CAGR |
7.4% |
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By Product Type |
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By Application |
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By Region |
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The global poly propylene glycols ppg market size was valued at US$ 1,498.9 million in 2023 and is projected to grow at a CAGR of 7.4% from 2024 to 2030.
The polypropylene glycols ppg market key players are: KKPC Mitsui Chemical BASF Dow Shell Huntsman Covestro Ineos Sanyo Chemical Jiangsu Haian Petrochemical Zhejiang Huangma Zibo Yunchuan Chemical Sungda Chemical
The polypropylene glycols ppg market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.