Market Size of Dipropylene Glycol Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Dipropylene Glycol Market Analysis
The global dipropylene glycol market accounted for around 160 kilo tons in 2021 and is projected to register a CAGR of over 4% during the forecast period (2022-2027).
The market was negatively impacted by COVID-19 in 2020. Due to the COVID-19 outbreak in the first half of 2020, the cosmetic industry was significantly affected. This, in turn, has unfavorably impacted the consumption of dipropylene glycol. The market is projected to grow steadily as fragrances production observed growth in 2021.
Over the short term, rising demand from personal care and cosmetic industries, coupled with increasing demand for DPG as a solvent, coupling agent, and chemical intermediate in various end-use applications in the emerging economies, are some of the driving factors stimulating the market demand.
However, the availability of substitutes such as 2-Methyl-1,3-propanediol may hinder the growth of the target market.
Nevertheless, rising trends for bio-based dipropylene glycol are likely to create lucrative growth opportunities for the global market over the forecast period.
The Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to a rise in the production of polyurethane resins and plasticizers in China and India.
