Europe Propylene Glycol Market Size, Trends & Growth Opportunity, By Type (Petroleum Based PG, and Bio-Based PG), By Grade (Industrial Grade, Pharmaceutical Grade, and other Applications), By End Use (Transportation, Building & Construction, Pharmaceuticals, and Cosmetics & Personal Care), By Region and Forecast from 2022- 2027
Europe Propylene Glycol Market
The European Propylene Glycol market is valued at USD 1520 MN in 2021 and is expected to reach USD 5875 MN by 2027, growing at a CAGR of 12.62% from 2020 to 2027.
A high market share in the global market is anticipated for North America due to increased R&D efforts, an increase in the number of hospitals choosing robot-assisted surgery, and rising government spending on healthcare in the area. Due to the surge in R&D activities for the treatment of cancer and other chronic diseases, the APAC region is also anticipated to develop at the highest CAGR over the forecast period. Additionally, throughout this projected period, Europe is anticipated to lose market share while MEA is anticipated to gain market share.
Market Drivers: The increase in Demand from End-Use Industries
The rising demand from a number of end-use sectors, including automotive, construction, food & beverage, pharmaceuticals, cosmetics & personal care, among others, is fueling the growth of the propylene glycol market.
A basic chemical called propylene glycol is utilized as a solvent in many different sectors and in the production of cosmetic goods like toothpaste, deodorant, shampoo, and skin treatments. To extend the shelf life of the product, it is also a basic ingredient in many packed food products.
The Transportation sector is the biggest consumer of propylene glycol and enjoys a number of benefits. As a result of rising auto sales, the transportation sector is one of the fastest-growing end-use sectors. During the projection period, there will be a rise in the usage of propylene glycols in hydraulic and brake fluids, automotive coolants, and aircraft deicing fluid.
Additionally, propylene glycol is employed in the building and construction industries, particularly in the production of kitchen and bathroom accessories, roof tiles, and pipes, ducts, and tanks. The expanding building and construction sector is accelerating the expansion of the propylene glycol market, along with rising investments in developing nations' infrastructure.
Market Restraints: Fluctuating prices of propylene glycol products
Propylene Glycol price volatility is projected to be one of the key factors impeding market expansion. The global economy's recovery in 2017 resulted in a marked increase in demand for propylene glycol. The supply of propylene glycol decreased at the same time due to a number of global installations that were not operating effectively, which led to escalating disputes between supply and demand.
For instance, BASF stated in 2017 that the company's manufacturing of propylene glycol was hampered as a result of a supply constraint of raw materials for their supplier. Until the COVID-29 pandemic disrupted global production and prices of petroleum-based products experienced a significant decline, this volatility in raw material costs was noted.
However, due to poor growth, prices will spike once more by the end of 2020. Due to high demand and rising costs for raw materials, OQ Chemicals stated in November 2020 that it would be raising the pricing of the majority of its specialty chemical products. The cost of propylene glycol increased steadily as a result. End users, notably in the European region, migrated to other substitute items as a result of a price increase. This caused the market for propylene glycol to further decline. As a result, changes in pricing would significantly affect the market for propylene glycol as a whole.
Market Opportunity: Multi-Functionality of Propylene glycol
Propylene Glycol comes in a variety of forms, each with a variety of uses depending on the features and chemical makeup. Because of its anti-freezing properties, propylene glycol, for example, has experienced tremendous growth in the transportation industry.
Propylene glycol is a naturally occurring substance that is far less hazardous than its substitutes. This makes this compound a good candidate for the label of an environmentally friendly chemical.
Due of their non-allergic qualities, items derived from propylene glycol are highly well-liked. Propylene glycol allergies are thought to affect 0.8% of people (10% propylene glycol in aqueous solution) to 3.5% of people (30% propylene glycol in aqueous solution). As a result, they have a variety of options in delicate industries like pharmaceutical, cosmetics, and personal care.
Value Chain Analysis
During the forecast period, the European propylene glycol market is anticipated to experience considerable expansion. The increasing demand across multiple end uses is a result of the products' ongoing evolution and the many applications for which they are used.
The market is anticipated to be considerably driven by elements including investments by key operational companies, the presence of a strong pipeline, considerable research and development efforts, a comprehensive product range, and rising government initiatives.
However, many businesses in the market for propylene glycol were compelled to suspend their manufacturing and production activities in 2019 and 2020 as a result of the COVID-19 virus. This market's commercial activities were suspended. This lapse in business operations has a direct impact on the market's revenue drift for propylene glycol. In addition to the COVID-19's slow growth and sluggish sales, the supply chain and product demand in the various end use industries are also anticipated to be significantly impacted. Trade has been severely impacted, and the industry's main issue now is the overall decline in demand for this product in the eastern European region rather than the interruption of the supply and value chain from China and India.
Propylene Glycol Market; COVID-19 Impact Analysis
The COVID-19 (Corona Virus) pandemic is expected to have an impact on the chemicals sector from all angles. Epidemics in significant locations are disrupting supply chains, and uncertainty in the global economy and capital markets might cause demand to plummet. Governments are starting to impose limits on migration and workforces are at danger of infection, both of which add an unpredictability to the problem.
Consumers, businesses, and communities around the world are suffering from the COVID-19 pandemic, which is also having a significant negative impact on the economy. The issue is rapidly evolving and has wide-ranging effects. There is no one solution that works for everyone in the current situation, and things definitely aren't going as usual. The majority of businesses already have business continuity strategies; however those may not take into account the unpredictable and quickly evolving factors of an outbreak like Corona Virus (COVID 19)
Propylene Glycol Market: Impact on GDP
The epidemic clearly had an effect on the expansion of the world economy. The UN predicts that the world economy would contract by roughly 0.9 to 1% this year. Prior to the outbreak, the World Economic Situation and Prospects 2020 had estimated that global output would increase in 2020 at a slow rate of 2.5%. Similarly, based on the controlled epidemic and worst scenario, the Organization for Economic Cooperation and Development (OECD) anticipates a reduction of 0.5% to 1.5%.
The volume of regional trade has also been severely impacted, which has halted business and the ensuing expansion of the trade with Eastern Europe. The pandemic has compelled the regional governments of the majority of nations to impose a nationwide lockdown in their respective nations, which has forced the closure of industrial facilities and prevented a number of workers from joining their companies. The low output in the first quarter of this year is a result of this production downturn as well.
The unusual nature of this health crisis and the lack of clarity surrounding its specific economic impact account for the wide range of potential outcomes for the expected drop. However, according to WTO economists, the decline will probably be greater than the decline in trade that the global financial crisis of 2008–09 caused. Estimates of the anticipated recovery in 2021 are also variable, with results primarily depending on the length of the outbreak and the efficacy of the implemented policy measures.
Market Segmentation
The Europe Propylene Glycol Market is segmented into type such as Petroleum Based PG, and Bio-Based PG, by Grade such as Industrial Grade (Unsaturated Polyester Resin, Antifreeze & Functional Fluids, Liquid Detergents, Plasticizers, and Paint & Coatings), Pharmaceutical Grade (Food & Beverage, Pharmaceuticals, and Cosmetics), by Other Applications (Animal feed, Tobacco humectants, Inks, and Lacquers). Further, market is segmented into end use such as Transportation, Building & Construction, Food & Beverages, Pharmaceuticals, and Cosmetics & Personal Care.
Also, the Europe Propylene Glycol Market is segmented into various countries such as Germany, UK, France, Turkey, Switzerland, Norway, Sweden, Spain, Italy, Denmark, Finland, Iceland, Poland, Luxembourg, Netherlands, and Belgium.
Market Key players
Various key players are listed in this report such as Croda International, The Dow Chemical Company, Eastman Chemical Company, Honeywell, PBF Chalmette Refinery, Arkema S.A., Chevron Phillips Chemical, Solvay S.A., Symrise AG, OQ Chemicals, Repsol S.A., Royal Dutch Shell, Adeka Europe GmbH,v LyondellBasell Industries N.V., BASF SE, Temix International S.R.L.
Market Taxonomy
By Type
• Petroleum Based PG
•  Bio-Based PG
By Grade
• Industrial Grade 
o Unsaturated Polyester Resin
o Antifreeze & Functional Fluids
o Liquid Detergents
o  Plasticizers
o  Paint & Coatings
•  Pharmaceutical Grade 
o Food & Beverage
o Pharmaceuticals
o Cosmetics
• Other Applications (Animal feed, Tobacco humectants, Inks, and Lacquers)
By End Use
• Transportation
• Building & Construction
•  Food & Beverages
•  Pharmaceuticals
•  Cosmetics & Personal Care
By Country
• Germany
• UK
• France
• Turkey
• Switzerland
• Norway
• Sweden
• Spain
• Italy
• Denmark
• Finland
• Iceland
• Poland
• Luxembourg
• Netherlands
• Belgium

Europe Propylene Glycol Market TOC:
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Grades
3 Executive Summary
4 Europe Propylene Glycol Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Europe Propylene Glycol Market, By Type
5.1 Y-o-Y Growth Comparison, By Type 
5.2 Europe Propylene Glycol Market Share Analysis, By Type 
5.3 Europe Propylene Glycol Market Size and Forecast, By Type
5.3.1 Petroleum Based PG
5.3.2. Bio-Based PG
6  Global  Testing, Inspection, and Certification Market , By Grade
6.1 Y-o-Y Growth Comparison, By Grade
6.2 Europe Propylene Glycol Market Share Analysis, By Grade
6.3 Europe Propylene Glycol Market Size and Forecast, By Grade
6.3.1 Industrial Grade 
6.3.1.1Unsaturated Polyester Resin
6.3.1.2. Antifreeze & Functional Fluids
6.3.1.3. Liquid Detergents
6.3.1.4. Plasticizers
6.3.1.5. Paint & Coatings
 6.3.2. Pharmaceutical Grade 
6.3.2.1. Food & Beverage
6.3.2.2. Pharmaceuticals
6.3.2.3. Cosmetics
6.3.3.Other Applications (Animal feed, Tobacco humectants, Inks, and Lacquers)
7 Europe Propylene Glycol Market, By End Use
7.1 Y-o-Y Growth Comparison, By End Use
7.2 Europe Propylene Glycol Market Share Analysis, By End Use
7.3 Europe Propylene Glycol Market Size and Forecast, By End Use
7.3. 1 Transportation
7.3.2. Building & Construction
7.3.3. Food & Beverages
7.3.4. Pharmaceuticals
 7.3.5. Cosmetics & Personal Care
8. Europe Propylene Glycol Market Analysis and Forecast (2022 – 2027)
8.1 Introduction
8.2 Europe Propylene Glycol Market Share Analysis, By Type 
8.3 Europe Propylene Glycol Market Size and Forecast, By Grade 
8.4 Europe Propylene Glycol Market Size and Forecast, By End Use
8.5 Europe Propylene Glycol Market Size and Forecast, By Country
8.5.1 Germany 
8.5.2 UK
8.5.3 France
8.5.4. Turkey
8.5.5. Switzerland
8.5.6. Norway
8.5.7. Sweden
8.5.8. Spain
8.5.9. Italy
8.5.10. Denmark
8.5.10. Finland
8.5.12. Iceland
8.5.13. Poland
8.5.14. Luxembourg
8.5.15. Netherlands
8.5.16. Belgium
9 Competitive Analysis
9.1 Competition Dashboard
9.2 Market share Analysis of Top Vendors
9.3 Key Development Strategies
10Company Profiles
10.1 Croda International
10.1.1 Overview
10.1.2 Offerings
10.1.3 Key Financials
10.1.4 Business Segment & Geographic Overview
10.1.5 Key Market Developments
10.1.6 Key Strategies
10.2 The Dow Chemical Company
10.2.1 Overview
10.2.2 Offerings
10.2.3 Key Financials
10.2.4 Business Segment & Geographic Overview
10.2.5 Key Market Developments
10.2.6 Key Strategies
10.3 Eastman Chemical Company
10.3.1 Overview
10.3.2 Offerings
10.3.3 Key Financials
10.3.4 Business Segment & Geographic Overview
10.3.5 Key Market Developments
10.3.6 Key Strategies
10.4 Honeywell
10.4.1 Overview
10.4.2 Offerings
10.4.3 Key Financials
10.4.4 Business Segment & Geographic Overview
10.4.5 Key Market Developments
10.4.6 Key Strategies
10.5 PBF Chalmette Refinery
10.5.1 Overview
10.5.2 Offerings
10.5.3 Key Financials
10.5.4 Business Segment & Geographic Overview
10.5.5 Key Market Developments
10.5.6 Key Strategies
10.6 Arkema S.A.
10.6.1 Overview
10.6.2 Offerings
10.6.3 Key Financials
10.6.4 Business Segment & Geographic Overview
10.6.5 Key Market Developments
10.6.6 Key Strategies
10.7 Chevron Phillips Chemical
10.7.1 Overview
10.7.2 Offerings
10.7.3 Key Financials
10.7.4 Business Segment & Geographic Overview
10.7.5 Key Market Developments
10.7.6 Key Strategies 
10.8 Solvay S.A
10.8.1 Overview
10.8.2 Offerings
10.8.3 Key Financials
10.8.4 Business Segment & Geographic Overview
10.8.5 Key Market Developments
10.8.6 Key Strategies 
10.9 Symrise AG
10.9.1 Overview
10.9.2 Offerings
10.9.3 Key Financials
10.9.4 Business Segment & Geographic Overview
10.9.5 Key Market Developments
10.9.6 Key Strategies 
10.10 OQ Chemicals, Repsol S.A
10.10.1 Overview
10.10.2 Offerings
10.10.3 Key Financials
10.10.4 Business Segment & Geographic Overview
10.10.5 Key Market Developments
10.10.6 Key Strategies 
10.11 Royal Dutch Shell
10.11.1 Overview
10.11.2 Offerings
10.11.3 Key Financials
10.11.4 Business Segment & Geographic Overview
10.11.5 Key Market Developments
10.11.6 Key Strategies 
10.12 Adeka Europe GmbH
10.12.1 Overview
10.12.2 Offerings
10.12.3 Key Financials
10.12.4 Business Segment & Geographic Overview
10.12.5 Key Market Developments
10.12.6 Key Strategies
10.13 LyondellBasell Industries N.V
10.13.1 Overview
10.13.2 Offerings
10.13.3 Key Financials
10.13.4 Business Segment & Geographic Overview
10.13.5 Key Market Developments
10.13.6 Key Strategies
10.14 BASF SE
10.14.1 Overview
10.14.2 Offerings
10.14.3 Key Financials
10.14.4 Business Segment & Geographic Overview
10.14.5 Key Market Developments
10.14.6 Key Strategies
10.15 Temix International S.R.L
10.15.1 Overview
10.15.2 Offerings
10.15.3 Key Financials
10.15.4 Business Segment & Geographic Overview
10.15.5 Key Market Developments
10.15.6 Key Strategies