Shift toward organic products to significantly propel the global bio-based propylene glycol market until 2020

06-May-16

The global bio-based propylene glycol market is expected to reach US$575 mln by 2020, as per Technavio. “The demand for bio-based products is expected to increase rapidly during the forecast period due to the demand from the pharmaceutical, cosmetics, and food sectors. It is expected to translate into a demand for bio-based propylene glycol in these sectors. For instance, the global organic personal care products market is expected to grow at a CAGR of more than 10% during the forecast period. The market is expected to touch US$13.25 bln in revenue by 2018. Rising concerns over health, side effects of synthetic products, and hygiene will therefore continue to propel market growth until 2020,” said Chandrakumar Badala Jaganathan, one of Technavio’s lead industry analysts for bio chemicals and materials. Some of the other driving forces behind the growth of the global bio-based propylene glycol market are as follows: Demand from automobile industry Growing demand from APAC Rising environmental concerns