Friday, May 6th, 2016 adds Global Bio-based Propylene Glycol Market 2016-2020 latest research report, the analysts forecast global bio-based propylene glycol market to grow at a CAGR of 8.19% during the period 2016-2020.

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According to the bio-based propylene glycol market report, a key market driver is the rising demand from the automobile industry. Economic recovery in the US and Europe has increased the demand for automotive products. The recovery has also increased employment, increased per capita income, and accessible credit facilities, increasing the buying power of consumers. Bio-based propylene glycol is for different applications in the automobile industry such as sheet molding compounds and antifreeze agent.

Bio-based propylene glycol is considered as an alternative for petroleum-based propylene glycol. It is produced from plant and animal sources and is more reliable and comparatively pure than petroleum-based propylene glycol. The chemical is used in cosmetics, food, pharmaceuticals, unsaturated polyester resins, and antifreeze agents.

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Global Bio-Based Propylene Glycol Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. This report covers the present scenario and the growth prospects of the global bio-based propylene glycol market for 2016-2020. To The market for pharmaceuticals, cosmetics, and food are supposed to propel the demand for bio-based propylene glycol.

The market is divided into the following segments based on geography: Americas, APAC and EMEA

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Key players in the global bio-based propylene glycol market: Archer-Daniels-Midland (ADM), Ashland, BASF, Cargill, and Oleon.

Other prominent vendors in the market are: Houghton Chemical and Orison.

Further, the report states that competition from petroleum based products is likely to hinder market growth due to a lack of awareness about available alternatives.

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