[Latest] Global Propylene Glycol Market Size/Share Worth USD 7.03 Billion by 2034 at a 4.23% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth Rate, Value, SWOT Analysis)

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17-07-2025

[220+ Pages Latest Report] According to a market research study published by Custom Market Insights, the demand analysis of Global Propylene Glycol Market size & share revenue was valued at approximately USD 4.66 Billion in 2024 and is expected to reach USD 5.01 Billion in 2025 and is expected to reach around USD 7.03 Billion by 2034, at a CAGR of 4.23% between 2025 and 2034. The key market players listed in the report with their sales, revenues and strategies are Dow Inc., BASF SE, LyondellBasell Industries Holdings B.V., Huntsman Corporation, INEOS Oxide, Shell plc, ADM (Archer Daniels Midland Company), Global Bio-Chem Technology Group Co. Ltd., Repsol S.A., SK picglobal, Manali Petrochemicals Limited, Royal Dutch Shell, Adeka Corporation, Sumitomo Chemical Co. Ltd., Dairen Chemical Corporation, Zibo Haijie Chemical., HaiKe Chemical Group Ltd., Lihong Fine Chemicals & Others.
Austin, TX, USA, July 17, 2025 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled 'Propylene Glycol Market Size, Trends and Insights By Source (Petroleum-based, Bio-based), By Grade (Industrial Grade, Pharmaceutical Grade, Others), By End-Use Industry (Transportation, Building & construction, Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034' in its research database.'According to the latest research study, the demand of global Propylene Glycol Market size & share was valued at approximately USD 4.66 Billion in 2024 and is expected to reach USD 5.01 Billion in 2025 and is expected to reach a value of around USD 7.03 Billion by 2034, at a compound annual growth rate (CAGR) of about 4.23% during the forecast period 2025 to 2034.'
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Overview
According to the CMI, industry experts believe that the global propylene glycol (PG) market can expect steady and sustained growth in the years to come. This movement has been sustained by a wide range of applications, which have started instilling interest in bio-alternatives. The chemical's versatility and safety make it an important component for a large number of end-use industries that include pharmaceuticals, food and beverage, personal care, automotive, and construction.
Growing environmental considerations and strict regulatory policies have pushed manufacturers to opt for bio-based production technologies to fulfill demand going into the future while also achieving sustainability targets. Nevertheless, the global PG market stands tall as a resilient and flexible segment within the specialty chemicals market.
Key Trends & Drivers
Versatile industrial applications: As a synthetic organic compound, propylene glycol finds many uses as an industrial solvent and humectant, preservative, and antifreeze. The versatility of application, being the strongest factor for the demand for this market, enhances the packaging industry, among many others. It is commonly used in the food industry to carry flavors and colors. In the pharmaceutical industry, it is used as a solvent in oral, injectable, and topical formulations. In personal care products, it acts as a humectant in lotions, creams, and shampoos. It is used industrially in antifreeze solutions, de-icing fluid, and HVAC coolants. This variety in applications keeps demand sustained, even in times of economic downturn.
Increasing Popularity of Bio-Based Propylene Glycol: Environmental sustainability and safe alternatives are driving the rise of interest in bio-based PG. Being made from renewable feedstock resources such as glycerin, corn, or soy, bio-based PG has a smaller carbon footprint than does petroleum-based PG. Much money is being invested by companies in R&D to scale up production and create more cost-effective production methods. Evidently, with growing consumer awareness regarding eco-labels and transparency in products, food, pharmaceutical, and cosmetic producers are starting to prefer renewable and biodegradable ingredients. This trend is expected to give a faster push to the bio-based PG segment rather than the conventional one.
Growth Prospects in Personal Care and Cosmetics: Given the roaring present-day personal care market, a surge in disposable incomes, urbanization, and changing lifestyles has been the motive behind the rapid growth of such industry. Propylene glycol is extensively used in skin and hair care formulations as texture enhancers or stabilizers, and humectants. With consumer demand for clean beauty products on the increase, companies are now renovating products that had harsh chemicals with bio-based PG. This trend of personal care brands in favour of PG will grow further while demand for cruelty-free and plant-based products hits an all-time high simply because of their non-toxic and non-irritating characteristics.
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The growing demand from pharmaceutical and food industries: Looking out for alternative solvents and carriers that are non-toxic and GRAS (Generally Recognized as Safe) makes PG one of the key ingredients in drug production; it is incorporated in oral and injectable drugs and topical medicines because it dissolves active ingredients well and maintains stability in the final product. Moving equivalently, PG finds a large area of use in food processing as a humectant and flavor carrier for processed foods, dairy products, and beverages. On account of an increase in pharmaceutical production and consumption of processed food all over the globe-mainly led by emerging markets such as India, China, and Brazil-demand for PG in these sectors shall continue to grow.
The construction and automotive industries: Propylene glycol (PG) has found quite a few important uses within the construction and automotive industries, being favored for its properties-from a chemical standpoint that include low toxicity, thermal stability, moisture retention, and so on. PG is preponderantly utilized in the construction sphere as a heat transfer fluid for HVAC systems and antifreeze solutions, for instance, in closed-loop heating and cooling applications. Owing to low corrosion and toxicity, PG is an excellent alternative to ethylene glycol for use in residential and commercial building systems where environmental and safety considerations are paramount. PG also finds use in construction materials for concrete curing, moisture control, etc., particularly in cold regions, where freezing prevents cracking and aids in maintaining the structural integrity of dry materials. Therefore, PG is commonly used in the automotive industry as an engine coolant and a de-icing solution.
Report Scope
Feature of the Report
Details
Market Size in 2025
USD 5.01 Billion
Projected Market Size in 2034
USD 7.03 Billion
Market Size in 2024
USD 4.66 Billion
CAGR Growth Rate
4.23% CAGR
Base Year
2024
Forecast Period
2025-2034
Key Segment
By Source, Grade, End-Use Industry and Region
Report Coverage
Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
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SWOT Analysis
Strengths: Propylene glycol enjoys the benefits of diversified uses across stable and regulated industries such as pharmaceuticals, food and beverage, and personal care. It being an approved chemical by such regulatory bodies as the FDA and EFSA aids its use in sensitive consumer products. Its manufacturing plants spread all over the world make distribution and supply reliable in the required areas. The increased acceptance of bio-based PG is, therefore, opening new market segments in line with worldwide sustainability targets.
Weaknesses: Although versatile, the market suffers from structural weaknesses. Conventional PG, synthesized from petroleum-based feedstock, is subject to crude oil cartelism in prices. Also, the environmental concerns associated with petrochemical production are posing an extra layer of scrutiny by regulators. Small- and medium-scale enterprises (SMEs) may be at a disadvantage in competing because of expensive capital investments required for technology upgrades and meeting compliance requirements. Also, the demand for low-price competitors such as ethylene glycol in certain industrial applications adds to the price pressure.
Opportunities: The bio-based PG subsegment shines as a golden window of growth. As industries move towards cleaner and sustainable production methods, companies investing in the manufacture of renewable PG can certainly gain an important chunk of market share. Emerging markets also present a rising opportunity as enhanced consumption of processed foods, pharmaceuticals, and personal care products creates new demand. There is also a scope for innovation in applications of PG-along with 3D printing materials or biodegradable plastics-that may provide brand-new opportunities for growth. Pooling resources with packaging and materials companies pursuant to circular economy principles could result in more PG applications.
Threats: Various outside factors threaten the PG market. Prices of raw materials ebb and flow, and plants operating under the shadow of geopolitical instability will interrupt supply chains and raise production costs. Stricter environmental regulations toward petrochemical derivatives can prevent consumer applications of petroleum PG from using petroleum-based PG. Increased competition from alternative solvents in the longer run, including the newer bio-based chemicals, also poses a threat. Public perception and consumer skepticism regarding chemical ingredients, more so in foods and cosmetics, might hit demand unless these are addressed through transparency and education.
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Key questions answered in this report:
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What are the Propylene Glycol Industry's top companies?
What are the different categories that the Propylene Glycol Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
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Key Offerings:
Market Share, Size & Forecast by Revenue | 2025−2034
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis
The Propylene Glycol Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
North America: North America holds a prominent share in the global propylene glycol market, driven by high demand across diverse industries such as food & beverage, pharmaceuticals, automotive, and cosmetics. The U.S. is the largest contributor, owing to the presence of major manufacturers, a mature industrial infrastructure, and advanced regulatory frameworks that support both petroleum-based and bio-based glycol production. Recent developments include capacity expansions, especially in sustainable or bio-based PG, due to increasing consumer preference for eco-friendly ingredients. The pharmaceutical and personal care sectors, in particular, are driving demand for high-purity pharmaceutical-grade PG in the region. Additionally, stringent quality and safety regulations in the food and drug sectors contribute to the consistent growth trajectory in North America.
Europe: Europe, as a mature market during the acquisition of PG, considers the environmental aspect, having increased queries for bio-based alternatives. Germany, France, and the Netherlands are spearheading the sustainability initiatives, urging the conversion of petroleum-based PG to renewable ones. Also, the significant presence of direct manufacturers of cosmetics and personal care products fuels the demand for PG of extremely high purity. The regional regulations under REACH and other chemical safety programs also affect the formulation and sourcing of products. Europe is an essential exporter of specialty-grade PG for the pharmaceutical and food processing industries; hence, the market is well integrated from both demand and supply perspectives.
Asia-Pacific: Asia-Pacific is the fastest developing region in the global PG market, with China and India being the largest contributors. Rapid industrialization, urbanization, and population growth increase demand in leading end-user sectors such as construction, automobiles, and the food and beverage industry. The regional market in China is held with a large industrial base, and the surging domestic demand and selling some PG derivatives as exports. India is increasingly turning to its demand in pharmaceuticals, personal care, and FMCG. Furthermore, the regional production capacity plus cost competitiveness is expected to be on a good pace due to higher investments into bio-PG and support from the government to the chemical industry. With further tightening of environmental regulations, Asia-Pacific is thus expected to witness propelled green production processes.
LAMEA (Latin America, Middle East, and Africa): The LAMEA region is an emerging market for PG, with food, pharmaceutical, and construction industries proving to have untapped potential. In Latin America, Brazil and Mexico are slowly increasing their domestic consumption of PG, primarily in food processing and industrial manufacturing. The Middle East, meanwhile, sees a slow but steady demand for PG in personal care, construction, and de-icing segments-all closely linked to the rapid infrastructure growth projects in the Gulf countries. In Africa, the market is still developing, but its growth will uncontrollably build on increasing investments in pharmaceuticals, FMCG products, and agrochemicals. The region already heavily depends on imports but is slowly waking up to the idea of local manufacturing and bio-based production, with sustainability tipping the scales.
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Browse the full 'Propylene Glycol Market Size, Trends and Insights By Source (Petroleum-based, Bio-based), By Grade (Industrial Grade, Pharmaceutical Grade, Others), By End-Use Industry (Transportation, Building & construction, Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034' Report at https://www.custommarketinsights.com/report/propylene-glycol-market/List of the prominent players in the Propylene Glycol Market:
Dow Inc.
BASF SE
LyondellBasell Industries Holdings B.V.
Huntsman Corporation
INEOS Oxide
Shell plc
ADM (Archer Daniels Midland Company)
Global Bio-Chem Technology Group Co. Ltd.
Repsol S.A.
SK picglobal
Manali Petrochemicals Limited
Royal Dutch Shell
Adeka Corporation
Sumitomo Chemical Co. Ltd.
Dairen Chemical Corporation
Zibo Haijie Chemical Co. Ltd.
HaiKe Chemical Group Ltd.
Lihong Fine Chemicals Co. Ltd.
Qingdao Shida Chemical Co. Ltd.
Sasol Limited
Others
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The Propylene Glycol Market is segmented as follows:
By Source
Petroleum-based
Bio-based
By Grade
Industrial Grade
Pharmaceutical Grade
Others
By End-Use Industry
Transportation
Building & construction
Food & Beverage
Pharmaceuticals
Cosmetics & Personal Care
Others
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Regional Coverage:
North America
U.S.
Canada
Mexico
Rest of North America
Europe
Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe
Asia Pacific
China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
This Propylene Glycol Market Research/Analysis Report Contains Answers to the following Questions.
Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Propylene Glycol Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Propylene Glycol Market? What Was the Capacity, Production Value, Cost and PROFIT of the Propylene Glycol Market?
What Is the Current Market Status of the Propylene Glycol Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Propylene Glycol Market by Considering Applications and Types?
What Are Projections of the Global Propylene Glycol Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Propylene Glycol Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Propylene Glycol Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Propylene Glycol Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Propylene Glycol Industry?
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Reasons to Purchase Propylene Glycol Market Report
Propylene Glycol Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Propylene Glycol Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Propylene Glycol Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Propylene Glycol Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
The study provides a thorough overview of the global Propylene Glycol market. Compare your performance to that of the market as a whole.
Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Propylene Glycol market analysis.
The competitive environment of current and potential participants in the Propylene Glycol market is covered in the report, as well as those companies' strategic product development ambitions.
According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
Participants and stakeholders worldwide Propylene Glycol market should find this report useful. The research will be useful to all market participants in the Propylene Glycol industry.
Managers in the Propylene Glycol sector are interested in publishing up-to-date and projected data about the worldwide Propylene Glycol market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Propylene Glycol products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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