Australia 1,2-Propylene Glycol Market (2024-2030) | Companies, Outlook, Analysis, Forecast, Size, Revenue, Value, Share, Industry, Growth & Trends

Australia 1,2-Propylene Glycol Market Highlights

Report Name	Australia 1,2-Propylene Glycol Market
Forecast Period	2024-2030
CAGR	9.56%
Growing Sector	Pharmaceutical Industry

Topics Covered in the Australia 1,2-Propylene Glycol Market

Australia 1,2-Propylene Glycol Market report thoroughly covers the market by product and application. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Australia 1,2-Propylene Glycol Market Synopsis

Australia 1,2-Propylene Glycol Market is likely to grow in the forecast period as Propylene glycol, an organic compound, is used in the manufacturing of many products, including cosmetics, pharmaceuticals, and food. Australia 1,2-Propylene Glycol market has been growing at a steady pace and is expected to reach a significant valuation in the coming years. Factors such as environmental concerns and the growth of “green” ingredients are expected to impact the industry positively. The Australian government's initiatives are anticipated to encourage the production of the compound and add to the growth of the industry. Moreover, numerous key trends have been shaping the Australia 1,2-Propylene Glycol (PG) market, reflecting both technological advances and shifts in consumer preferences. Firstly, the push towards sustainable and eco-friendly chemicals has seen a rise in the demand for bio-based 1,2-Propylene Glycol, which uses renewable resources as feedstock.

This aligns with global environmental concerns and the increasing importance of sustainability in business practices. Secondly, technological advancements in production processes have improved efficiency and reduced waste, leading to a more cost-effective and environmentally friendly manufacturing landscape. Additionally, there's a growing awareness and concern among consumers regarding synthetic ingredients in food, cosmetics, and pharmaceuticals, driving demand for PG products that are certified as safe and non-toxic. Finally, the expansion of the pharmaceutical and cosmetics sectors in Australia, fueled by increased investment and consumer spending, is expected to continue driving the demand for 1,2-Propylene Glycol in the coming years.

According to 6Wresearch, the Australia 1,2-Propylene Glycol Market size is projected to grow at a CAGR of 9.56% during the forecast period of 2024-2030. The growing consumer preference towards natural and organic ingredients is expected to impact the Australian 1,2-Propylene Glycol market positively. As people become more environmentally conscious, companies are shifting towards “green” ingredients, which are free from harmful chemicals and are produced sustainably. Additionally, the need for reducing carbon footprints is creating a demand for bio-based Propylene Glycol products.

The exponential growth of the personal care and cosmetics industry is one of the critical drivers of the 1,2-Propylene Glycol market in Australia. With increasing awareness and concern for environment-friendly and organic products, consumers are gravitating towards natural and sustainable cosmetic products, which are manufactured using 1,2-propylene glycol. Moreover, the pharmaceutical industry relies heavily on this chemical substance as a solvent for better stability and increased shelf life of the drugs. One major challenge faced by the Australia 1,2-Propylene Glycol Industry is the competition from substitutes such as Glycerin. Rising prices of raw materials such as corn and soy, which are used in the production of the compound, are also a significant challenge faced by the industry. Another significant challenge is the environmental impact of manufacturing, which is leading to strict regulations and taxes. The global market for 1,2-Propylene Glycol is highly competitive, and a fluctuation in global oil prices can impact the raw material prices in Australia, thereby affecting the market growth. Additionally, the increasingly stringent regulatory requirements and environmental sustainability concerns pose a challenge to the industry players and these factors have significantly decreased Australia 1,2-Propylene Glycol Market Share.

Government policies and schemes introduced in the Australia 1,2-Propylene Glycol Market

The Australian government has taken multiple initiatives to encourage the production and use of Propylene Glycol. For instance, the Clean Energy Future Plan encourages the development of a low-carbon economy by incentivizing production practices that reduce greenhouse gas emissions. The national strategy for ecologically sustainable development and Industry Growth Centers are other initiatives that promote the growth of the 1,2-Propylene Glycol market and other industries in the country.

Leading players in the Australia 1,2-Propylene Glycol Market

Some of the significant players operating in the 1,2-Propylene Glycol market in Australia include Archer Daniels Midland, The Dow Chemical Company, BASF, Jiangsu Zhenhua Biotechnology Company, and Daicel Corporation. These players are adopting various strategies such as mergers & acquisitions, partnerships, and new product launches to expand their market share. Moreover, the Australia 1,2-Propylene Glycol (PG) market is marked by the presence of both global giants and local players, fostering a dynamic and competitive environment. Key players have been focusing on strategic partnerships, technological innovations, and expanding their production capabilities to meet the rising demand for both synthetic and bio-based PG. Companies are also investing in research and development to enhance product quality and reduce environmental impact, aligning with the growing consumer preference for sustainable and eco-friendly products. Additionally, the market has witnessed an increase in import activities, as manufacturers look to fulfill the burgeoning demand in various industrial applications. This competition is not only driving product innovation but also compelling companies to adopt competitive pricing strategies to maintain and expand their market share.

Future Insight of the Australia 1,2-Propylene Glycol Market

The future of the 1,2-Propylene Glycol market in Australia looks promising, and it is expected to grow at a considerable CAGR in the years to come. Additionally, the growth of end-use sectors such as cosmetics, pharmaceuticals, and food, coupled with the increasing demand for bio-based products, is expected to drive the market growth even further.

Market Analysis by Product

The industrial grade 1,2-Propylene Glycol segment is expected to grow significantly due to the increasing demand for the production of unsaturated polyester resins (UPR). The UPR market is driven by the construction and infrastructure sectors, which are growing at a fast pace in Australia. 1,2-Propylene Glycol is used as a solvent and co-monomer in the production of UPR, making it an essential component in the construction industry. Additionally, the growing demand for functional fluids, such as coolants and antifreeze agents, also drives the growth of this segment.

Market Analysis by Applications

According to Ravi Bhandari, Research Head, 6Wresearch, the UPR (Unsaturated Polyester Resins) market is expected to drive the growth of the industrial grade 1,2-Propylene Glycol segment. UPR is used in various applications such as pipes, storage tanks, and marine applications. The growth of the construction and infrastructure sectors fuels the growth of the UPR market, which, in turn, drives the growth of 1,2-Propylene Glycol as it is an essential component in the production process.

Key attractiveness of the report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Australia 1,2-Propylene Glycol Market Outlook
• Market Size of Australia 1,2-Propylene Glycol Market, 2020
• Forecast of Australia 1,2-Propylene Glycol Market, 2030
• Historical Data and Forecast of Australia 1,2-Propylene Glycol Revenues & Volume for the Period 2020 - 2030
• Australia 1,2-Propylene Glycol Market Trend Evolution
• Australia 1,2-Propylene Glycol Market Drivers and Challenges
• Australia 1,2-Propylene Glycol Price Trends
• Australia 1,2-Propylene Glycol Porter's Five Forces
• Australia 1,2-Propylene Glycol Industry Life Cycle
• Historical Data and Forecast of Australia 1,2-Propylene Glycol Market Revenues & Volume By Product for the Period 2020 - 2030
• Historical Data and Forecast of Australia 1,2-Propylene Glycol Market Revenues & Volume By Industrial Grade 1,2-Propylene Glycol for the Period 2020 - 2030
• Historical Data and Forecast of Australia 1,2-Propylene Glycol Market Revenues & Volume By Food Grade 1,2-Propylene Glycol for the Period 2020 - 2030
• Historical Data and Forecast of Australia 1,2-Propylene Glycol Market Revenues & Volume By Pharmaceutical Grade 1,2-Propylene Glycol for the Period 2020 - 2030
• Historical Data and Forecast of Australia 1,2-Propylene Glycol Market Revenues & Volume By Application for the Period 2020 - 2030
• Historical Data and Forecast of Australia 1,2-Propylene Glycol Market Revenues & Volume By Unsaturated Polyester Resins (UPR) for the Period 2020 - 2030
• Historical Data and Forecast of Australia 1,2-Propylene Glycol Market Revenues & Volume By Functional Fluids for the Period 2020 - 2030
• Historical Data and Forecast of Australia 1,2-Propylene Glycol Market Revenues & Volume By Cosmetics, Pharmaceutics and Food for the Period 2020 - 2030
• Historical Data and Forecast of Australia 1,2-Propylene Glycol Market Revenues & Volume By Liquid Detergents for the Period 2020 - 2030
• Australia 1,2-Propylene Glycol Import Export Trade Statistics
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Application
• Australia 1,2-Propylene Glycol Top Companies Market Share
• Australia 1,2-Propylene Glycol Competitive Benchmarking By Technical and Operational Parameters
• Australia 1,2-Propylene Glycol Company Profiles
• Australia 1,2-Propylene Glycol Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product

• Industrial Grade 1,2-Propylene Glycol
• Food Grade 1,2-Propylene Glycol
• Pharmaceutical Grade 1,2-Propylene Glycol

By Application

• Unsaturated Polyester Resins (UPR)
• Functional Fluids, Cosmetics
• Pharmaceutics And Food
• Liquid Detergents

Australia 1,2-Propylene Glycol Market (2024-2030): FAQs