Investments in bio-based propylene glycol to revive the propylene glycol market
Published by Callum O'Reilly,
Growing public concerns of environment pollution has persuaded many industries to replace petroleum-based propylene glycol with bio-based propylene glycol, according to a report from IndustryARC.
As compared to petroleum-based propylene glycol, the production of bio-based propylene glycol is based on eco-friendly methods of manufacturing, requires smaller amounts of petrochemical feedstock, and produces fewer greenhouse gas emissions. In the last few years, companies such as Huntsman have made investments in the development of commercial technology that can be used in the production of propylene glycol directly from the glycerine that is a by-product of biodiesel production.
The propylene Glycol market is forecast to reach US$5 billion by 2025 and is estimated to grow at a CAGR of 4%. The growth of propylene glycol market can be attributed to the growing consumption of propylene glycol in Indian and Chinese economies. In the last few years, the effective growth of Indian and Chinese automotive, construction, F&B, and pharmaceutical sectors has revived the growth of propylene glycol.
Propylene glycol is derived from either petroleum, natural gas, or vegetable sources, and unsaturated polyester resins are derived from propylene glycol. The decline in crude oil prices has reduced the manufacturing cost of unsaturated polyester resins and has made them a preferred material in building and construction and various other industries. In Asia-Pacific's and Europe's building and construction industry, application of unsaturated polyester resins is expected to grow at the highest rates, according to the report.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/01072019/investments-in-bio-based-propylene-glycol-to-revive-the-propylene-glycol-market/
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