According to a recent market study published by Growth Market Reports, titled, Global Bio Glycol Market, by Type (Bio Ethylene Glycol, Bio Propylene Glycol, and Others), Application (Aircraft Deicing Fluid, Polyester Resins, Coolants and Automotive Antifreeze, Heat Transfer Fluids, Liquid Detergents, Baked and Dairy Products, and Others), End-use Industry (Food and Beverage, Chemical, Transportation, Pharmaceutical, and Others), Distribution Channel (Manufacturer (Direct Sales), Distributor), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa (MEA)): Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 4,192.2 million in 2022 and is projected to expand at a growth rate of 7.0% by 2031.

As per Growth Market Reports industry analyst, Anupama Kumari, the global Bio Glycol market is anticipated to register significant growth during the forecast period, 2023-2031. Bio Glycol refers to a group of glycol-based chemicals derived from renewable resources, such as plant-based materials or biomass, instead of traditional petroleum-based sources. Unlike traditional glycols derived from petroleum, Bio Glycol uses renewable, plant-based sources. These renewable feedstocks include corn, sugarcane, or other plant-derived materials. This makes it a sustainable choice and reduces dependence on fossil fuels. Bio Glycol is used in various industries due to its application such as polyester resins, antifreeze and automotive coolants, heat transfer fluids, liquid detergents, and others. It reduces dependence on fossil fuels and contributes to a sustainable future. Biodegradable nature minimizes environmental concerns compared to traditional options. Bio propylene glycol is considered less toxic than traditional ethylene glycol. Bio Glycol presents a promising alternative to traditional petroleum-based glycols, offering a sustainable and potentially safe option across various industries.

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The primary and secondary research methodologies are used for keen observation and study of the Bio Glycol market. The primary research methodology involves municipal agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to be updated with the latest market trends & developments. Validation of the estimated market size and current & future trends are done by the key opinion leaders (KOLs). These KOLs are the CXO level people from key companies in the industry and possess experience of around 10-20 years in the industry. The secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned to understand the competitive scenario, details & developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The outbreak of coronavirus disease in 2019 (COVID-19) restrained the global economy, created global interdependence, and challenged the governments of various nations. The pandemic raised concerns among economies and businesses by shifting focus toward the online supply of consumer electronic gadgets and automotive components, creating manufacturing issues.

In January 2020, the WHO labeled the COVID-19 outbreak as a public health emergency of global concern, and in March 2020, it proclaimed this disease as a global pandemic. This deadly virus has become one of the major pandemics in human history. The COVID-19 outbreak is a public health emergency that affected almost every industry. The long-term effects of the pandemic are expected to affect the growth of various industries during the forecast period, especially across Eastern Europe, European Union, the US, and Eastern & Central Asia.

As of February 11, 2023, this pandemic infected over 774,631,444 people, and over 7,031,216 people died from the disease. COVID-19 cases have been registered in more than 231 countries and territories. Many countries are economically weak, while others have poor healthcare systems that affect the economy and lives of people.

Key Takeaways from the Study:

  • Key players in the market include India Glycol Limited; ADM; GODAVARI BIOREFINERIES LTD; ORLEN; Ashland; Air Liquid; Dynalene, Inc.; Ayas Renewables Inc; and Braskem.

  • Based on type, the bio propylene glycol segment held a major market share in 2022 and is projected to register a significant growth rate during the forecast period. Bio propylene glycol is rapidly gaining traction owing to its hygroscopic nature, which makes it miscible with acetone, water, and chloroform.

  • On the basis of application, the coolants and automotive antifreeze segment held a large share of the market in 2022 and is expected to expand at a significant pace during the forecast period. The automotive industry heavily demands Bio Glycol for antifreeze and coolants. Bio Glycol offers a more sustainable and potentially safer alternative option to traditional petroleum-based options, as it is derived from renewable sources such as plant materials.

  • Based on the end-use industry, the transportation segment held a key share of the market in 2022 and is projected to expand at a significant CAGR during the forecast period. Bio Glycol is making a significant mark in the transportation industry, driving progress toward sustainability. Its low freezing point and ability to reduce the freezing point of water make it ideal for de-icing and anti-icing aircraft, minimizing environmental impact compared to traditional fluids.

  • Based on the distribution channel, the manufacturers (direct sales) segment held XX% market share in 2022 and is expected to hold XX% in 2031. The direct distribution channel of Bio Glycol does not use any intermediaries. Manufacturers sell products directly to the end consumers.

  • On the basis of region, Asia Pacific is expected to hold a significant market share during the forecast period due to the increasing demand for Bio Glycol from end-use industries such as food and beverage, construction, transportation, and pharmaceutical in countries such as China, India, South Korea, Japan, and Southeast Asia.

Report Scope:

Report Metric

Details

Market Value in 2022

USD 4,192.2 Million

Market Growth Rate (from 2023 to 2031)

7.0%

Historical Data

2016 & 2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (USD Million)

Market Segments

Type (Bio Ethylene Glycol, Bio Propylene Glycol, and Others), Application (Aircraft Deicing Fluid, Polyester Resins, Coolants and Automotive Antifreeze, Heat Transfer Fluids, Liquid Detergents, Baked and Dairy Products, and Others), End-use Industry (Food and Beverage, Chemical, Transportation, Pharmaceutical, and Others), Distribution Channel (Manufacturer (Direct Sales), Distributor), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa (MEA))

Key Companies Profiled

India Glycol Limited, ADM, GODAVARI BIOREFINERIES LTD, ORLEN, Ashland, Dynalene, Inc., Ayas Renewables Inc, Braskem, and UPM Biochemicals

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Supply-side: Raw material suppliers and Manufacturers

  • Demand Side: Bio Glycol manufacturing companies

  • Regulatory Side: Concerned government authorities and other regulatory bodies