Product Code: ETC416900 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India propylene glycol market import shipment exhibited strong growth momentum with a CAGR of 13.9% from 2020 to 2024. Notably, the growth rate surged by 18.2% between 2023 and 2024, indicating a significant expansion in market demand during that period. The market demonstrated a consistent upward trend, showcasing robust growth potential.
The propylene glycol market in India is witnessing steady growth, driven by its diverse applications in the food and beverage, pharmaceutical, and cosmetics industries. Propylene glycol is used as a solvent, humectant, and carrier in various products, including personal care items, food items, and medicines. Its non-toxic and versatile properties make it an essential component in these sectors. As consumer demand for such products continues to rise, the propylene glycol market is expected to expand further.
The India propylene glycol market is driven by its extensive applications in various industries, including food and beverages, pharmaceuticals, and cosmetics. Propylene glycol is used as a food additive, in pharmaceutical formulations, and in personal care products. The market`s growth is influenced by consumer preferences for safer and more environmentally friendly ingredients in these sectors. Technological innovations, quality standards, and government regulations related to food and pharmaceutical safety also impact market dynamics.
The India Propylene Glycol market faces challenges related to sourcing raw materials and maintaining quality standards. Propylene glycol is derived from petrochemical sources, and price volatility in the oil and gas industry can impact production costs. Quality control is essential, especially for applications in the food and pharmaceutical sectors. Regulatory compliance, particularly in the context of food safety, is a significant challenge. The market also needs to adapt to changing consumer preferences for natural and organic alternatives.
The India propylene glycol market experienced fluctuations during the COVID-19 pandemic. Reduced industrial activities and supply chain disruptions impacted the availability of propylene glycol, a versatile chemical used in various sectors, including food and pharmaceuticals. However, as industries adapted to the new normal and demand for products containing propylene glycol persisted, the market began to recover.
In the India Propylene Glycol market, key manufacturers are integral in the production and supply of propylene glycol, a versatile chemical compound. Leading players in this segment include Aarti Industries Ltd, Manali Petrochemicals Limited, Chemtex Speciality Limited, and India Glycols Limited. These companies cater to a wide range of industries, including food and beverage, pharmaceuticals, and cosmetics, by providing high-quality propylene glycol solutions that serve as key ingredients in various products and processes.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Propylene Glycol Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Propylene Glycol Market Revenues & Volume, 2021 & 2031F |
3.3 India Propylene Glycol Market - Industry Life Cycle |
3.4 India Propylene Glycol Market - Porter's Five Forces |
3.5 India Propylene Glycol Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 India Propylene Glycol Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Growing demand for propylene glycol in the food and beverage industry for applications such as food preservatives and flavorings. |
4.2.2 Increasing usage of propylene glycol in pharmaceuticals for manufacturing medicines, ointments, and cosmetics. |
4.2.3 Rising demand for propylene glycol as a solvent in various industrial applications, such as in antifreeze and de-icing solutions. |
4.3 Market Restraints |
4.3.1 Fluctuating raw material prices can impact the production cost of propylene glycol. |
4.3.2 Stringent regulations regarding the use of propylene glycol in certain applications may limit market growth. |
4.3.3 Competition from alternative products that offer similar properties as propylene glycol could pose a challenge. |
5 India Propylene Glycol Market Trends |
6 India Propylene Glycol Market, By Types |
6.1 India Propylene Glycol Market, By Application |
6.1.1 Overview and Analysis |
6.1.2 India Propylene Glycol Market Revenues & Volume, By Application, 2021-2031F |
6.1.3 India Propylene Glycol Market Revenues & Volume, By Unsaturated Polyester Resins, Functional Fluids, Food, Drug, and Cosmetics, Liquid Detergent, Paints and Coating, Others, 2021-2031F |
7 India Propylene Glycol Market Import-Export Trade Statistics |
7.1 India Propylene Glycol Market Export to Major Countries |
7.2 India Propylene Glycol Market Imports from Major Countries |
8 India Propylene Glycol Market Key Performance Indicators |
8.1 Average selling price of propylene glycol in the Indian market. |
8.2 Growth rate of key end-user industries consuming propylene glycol. |
8.3 Number of new product launches or innovations in propylene glycol applications within India. |
9 India Propylene Glycol Market - Opportunity Assessment |
9.1 India Propylene Glycol Market Opportunity Assessment, By Application, 2021 & 2031F |
10 India Propylene Glycol Market - Competitive Landscape |
10.1 India Propylene Glycol Market Revenue Share, By Companies, 2024 |
10.2 India Propylene Glycol Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |