Demand for Propanediol to Remain Prominent in Personal Care Industry, Reveals Fact.MR
Published : 14 Jan 2022 Industry: Chemical & Materials
According to the latest market analysis on propanediol by Fact.MR, a market research and competitive intelligence provider, the global market is projected to be valued at US$ 20.6 Mn in 2022, and expand at a CAGR of around 3.5% over the period of 2022-2032. Market growth can be mainly attributed to growing demand for propanediol as a humectant from the personal care industry.
The propanediol business is highly consolidated owing to the presence of a few producers solely involved in the production of this chemical. Propanediol has gained substantial traction in the beauty and personal care industry, which has been identified as a key source for revenue generation. Moreover, propanediol producers are opting for product development, innovation, and R&D to gain an upper edge in the market.
Key Takeaways from Market Study
- Petrochemical-based propanediol projected to provide absolute $ opportunity worth US$ 1.6 million over the decade.
- Based on function, propanediol as a humetant is projected to increase at a higher CAGR of around 3.8% over the forecast period.
- On the basis of distribution, propanediol consumption for personal care is anticipated to expand around 1.4X by 2032.
- East Asia projected to capture around 23% of global propanediol market share by 2032.
- North America to provide absolute $ opportunity worth US$ 1.9 Mn by 2032-end.
“Personal care industry identified as prominent consumer of propanediol. Consumption mainly been driven by ageing population as need for moisturizers containing humectant rises,” says a Fact.MR analyst.
Market players can be seen opting for in-organic growth strategies such as partnerships and collaborations with leading research institutes to be in line with recent trends in the market. Such collaborations have helped propanediol manufacturers in product development and provided them with a competitive advantage. Moreover, collaborating with local distributors and suppliers of raw material is helping market players manage costs associated with logistics and transportation.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the propanediol market, presenting historical market data (2016-2020) and forecast statistics for the period of 2021-2031.
The study reveals essential insights on the basis of source (petrochemical-derived PDO and bio-based PDO), function (humectants, solvents, emollients, rheology modifiers, and others), and application (personal care and cosmetics), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About the Chemicals and Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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