India 1,2-Propylene Glycol Market Import Shipment Trend (2020-2024)
The India 1,2-propylene glycol market import shipments demonstrated a robust expansion from 2020 to 2024, with a notable CAGR of 13.9%. The growth momentum accelerated further between 2023 and 2024, with an impressive growth rate of 18.2%. Overall, the market exhibited strong and consistent growth trends during this period.
India 12-Propylene Glycol Market Synopsis
India 1,2-Propylene Glycol market is anticipated to witness a healthy growth in the forecast period. The rising demand of 1,2-propylene glycol for its applications such as antifreezes and coolants in automobiles is expected to drive the market growth. Moreover, increasing usage of propylene glycol in food & beverage industry for various applications such as flavorings agents and preservatives will spur the market growth over the coming years. Furthermore, increasing use of polyetherpolyols due to their low toxicity makes them suitable for several end user industries like paints & coatings thus fueling India 1,2-propylene glycol market over the forecast period. In addition, surging consumer awareness regarding personal care products with natural ingredients will propel the demand for bio based propylene glycol due to its nontoxic nature which will further spur India 1,2-propylene glycol market.
Market Drivers
Increasing demand from personal care and cosmetics industry due to growing awareness about health & wellness among consumers is driving an increase in sales of natural skincare products containing skin moisturizing agents such as propylene glycol which will boost its consumption further Rising disposable income of India households resulting higher spending on personal care and cosmetics has increased investment potentials within this sector leading to a rise in production capacities.Growing application areas owing to use of polyols like propylene glycol as antifreeze agent, aerosol propellant & lubricant oil base stock are likely to influence its utilization rate positively
Challenges of the Market
Volatility concerning raw material prices along with stringent regulations imposed on end users pertaining environmental concerns may hamper its consumption rate negatively over short term horizon.Fluctuations observed on account of foreign exchange rates have been impacting purchasing power parity significantly thus affecting production costs incurred by local producers adversely. Lackluster distribution network present within country???s rural regions remains unviable proposition thereby limiting availability options at remoter locations
Key Players in the Market
Major companies operating within India 1, 2 Propylenene Glycole include BASF SE (Germany), Dow Chemical Company (US), Eastman Chemicals (US), Evonik Industries AG (Germany) Exxon Mobil Corporation (US).
Key Highlights of the Report:
- India 1,2-Propylene Glycol Market Outlook
- Market Size of India 1,2-Propylene Glycol Market, 2024
- Forecast of India 1,2-Propylene Glycol Market, 2031
- Historical Data and Forecast of India 1,2-Propylene Glycol Revenues & Volume for the Period 2021-2031
- India 1,2-Propylene Glycol Market Trend Evolution
- India 1,2-Propylene Glycol Market Drivers and Challenges
- India 1,2-Propylene Glycol Price Trends
- India 1,2-Propylene Glycol Porter's Five Forces
- India 1,2-Propylene Glycol Industry Life Cycle
- Historical Data and Forecast of India 1,2-Propylene Glycol Market Revenues & Volume By Product for the Period 2021-2031
- Historical Data and Forecast of India 1,2-Propylene Glycol Market Revenues & Volume By Industrial Grade 1,2-Propylene Glycol for the Period 2021-2031
- Historical Data and Forecast of India 1,2-Propylene Glycol Market Revenues & Volume By Food Grade 1,2-Propylene Glycol for the Period 2021-2031
- Historical Data and Forecast of India 1,2-Propylene Glycol Market Revenues & Volume By Pharmaceutical Grade 1,2-Propylene Glycol for the Period 2021-2031
- Historical Data and Forecast of India 1,2-Propylene Glycol Market Revenues & Volume By Application for the Period 2021-2031
- Historical Data and Forecast of India 1,2-Propylene Glycol Market Revenues & Volume By Unsaturated Polyester Resins (UPR) for the Period 2021-2031
- Historical Data and Forecast of India 1,2-Propylene Glycol Market Revenues & Volume By Functional Fluids for the Period 2021-2031
- Historical Data and Forecast of India 1,2-Propylene Glycol Market Revenues & Volume By Cosmetics, Pharmaceutics and Food for the Period 2021-2031
- Historical Data and Forecast of India 1,2-Propylene Glycol Market Revenues & Volume By Liquid Detergents for the Period 2021-2031
- India 1,2-Propylene Glycol Import Export Trade Statistics
- Market Opportunity Assessment By Product
- Market Opportunity Assessment By Application
- India 1,2-Propylene Glycol Top Companies Market Share
- India 1,2-Propylene Glycol Competitive Benchmarking By Technical and Operational Parameters
- India 1,2-Propylene Glycol Company Profiles
- India 1,2-Propylene Glycol Key Strategic Recommendations
