Propylene Glycol Market Size, Share, Trends, & Industry Analysis Report By Grade (Pharmaceutical & Food Grade, Industrial Grade), By Source, By End User, and By Region – Market Forecast, 2025–2034
Description
The propylene glycol market size is expected to reach USD 7.31 Billion by 2034, according to a new study by Polaris Market Research. The report “Propylene Glycol Market Size, Share, Trends, Industry Analysis Report: By Grade (Pharmaceutical & Food Grade, Industrial Grade), By Source, By End User, By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Propylene Glycol is a colorless, odorless, and slightly viscous liquid used as a solvent, humectant, and preservative in various industries. It is commonly found in food, pharmaceuticals, cosmetics, and industrial applications like antifreeze and de-icing solutions.
Propylene glycol is widely used in the pharmaceutical industry as a solvent and carrier for active pharmaceutical ingredients in syrups, injectables, creams, and capsules. The demand for medications is increasing rapidly with the growing global population, aging demographics, and rising prevalence of chronic diseases. Additionally, the rise in generic drug manufacturing and expanding healthcare access in emerging economies are boosting pharmaceutical production. Consequently, the need for safe, non-toxic, and approved excipients such as propylene glycol grows, thereby fueling the market growth.
Technological innovations in chemical processing have significantly improved the efficiency, safety, and environmental impact of propylene glycol production. Advanced manufacturing techniques now allow for better yield, lower energy consumption, and reduced waste generation. Moreover, the integration of AI and automation in chemical plants enables real-time monitoring and quality control, ensuring consistent product performance. These advancements reduce production costs and make it easier for companies to scale up operations. Technology improves the competitiveness of propylene glycol producers as technology continues to evolve, encouraging investment and expansion in the market.
Propylene Glycol Market Report Highlights
The pharmaceutical and food grade equipment segment is projected to expand at a CAGR of 4.2% during the forecast period, supported by growing health awareness, strict regulatory standards, and the rising consumption of processed food products and personal care items.
In 2024, the pharmaceutical segment held a notable 10.68% share of global revenue, driven by its essential role in delivering active pharmaceutical ingredients (APIs) across various drug formulations.
The Asia Pacific region dominated the global propylene glycol market in 2024, accounting for 37.29% of total revenue, primarily due to rapid industrial growth, urbanization, and strong demand from automotive, pharmaceutical, and food & beverage industries.
The North American market is forecasted to grow at a CAGR of 4.4% throughout the forecast period, fueled by steady demand across its mature and diverse automotive, pharmaceutical, and food processing sectors.
The global key market players are Adeka Corporation; Archer-Daniels-Midland Company; Asahi Glass Co., LTD.; BASF SE; Chaoyang Chemicals, Inc.; Dow Chemicals; Global Bio-Chem Technology Group Co., LTD.; Helm AG; Huntsman International LLC; INEOS Oxide Ltd.; LyondellBasell Industries Holdings B.V.; Royal Dutch Shell PLC; Sinopec; SKC; Sumitomo Chemicals; Temix Oleo S.R.L.
Polaris market research has segmented the propylene glycol market report based on grade, source, end user and region:
By Grade (Revenue - USD Billion; Volume - Kilotons; 2020–2034)
Pharmaceutical & Food Grade
Industrial Grade
By Source (Revenue - USD Billion; Volume - Kilotons; 2020–2034)
Petroleum-Based Propylene Glycol
Bio-Based Propylene Glycol
By End User (Revenue - USD Billion; Volume - Kilotons; 2020–2034)
Food and Beverage
Automotive
Personal Care and Cosmetics
Chemical
Pharmaceutical
Construction
Others
By Regional Outlook (Revenue - USD Billion; Volume- Kilotons; 2020–2034)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of APAC
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of MEA
Propylene Glycol is a colorless, odorless, and slightly viscous liquid used as a solvent, humectant, and preservative in various industries. It is commonly found in food, pharmaceuticals, cosmetics, and industrial applications like antifreeze and de-icing solutions.
Propylene glycol is widely used in the pharmaceutical industry as a solvent and carrier for active pharmaceutical ingredients in syrups, injectables, creams, and capsules. The demand for medications is increasing rapidly with the growing global population, aging demographics, and rising prevalence of chronic diseases. Additionally, the rise in generic drug manufacturing and expanding healthcare access in emerging economies are boosting pharmaceutical production. Consequently, the need for safe, non-toxic, and approved excipients such as propylene glycol grows, thereby fueling the market growth.
Technological innovations in chemical processing have significantly improved the efficiency, safety, and environmental impact of propylene glycol production. Advanced manufacturing techniques now allow for better yield, lower energy consumption, and reduced waste generation. Moreover, the integration of AI and automation in chemical plants enables real-time monitoring and quality control, ensuring consistent product performance. These advancements reduce production costs and make it easier for companies to scale up operations. Technology improves the competitiveness of propylene glycol producers as technology continues to evolve, encouraging investment and expansion in the market.
Propylene Glycol Market Report Highlights
The pharmaceutical and food grade equipment segment is projected to expand at a CAGR of 4.2% during the forecast period, supported by growing health awareness, strict regulatory standards, and the rising consumption of processed food products and personal care items.
In 2024, the pharmaceutical segment held a notable 10.68% share of global revenue, driven by its essential role in delivering active pharmaceutical ingredients (APIs) across various drug formulations.
The Asia Pacific region dominated the global propylene glycol market in 2024, accounting for 37.29% of total revenue, primarily due to rapid industrial growth, urbanization, and strong demand from automotive, pharmaceutical, and food & beverage industries.
The North American market is forecasted to grow at a CAGR of 4.4% throughout the forecast period, fueled by steady demand across its mature and diverse automotive, pharmaceutical, and food processing sectors.
The global key market players are Adeka Corporation; Archer-Daniels-Midland Company; Asahi Glass Co., LTD.; BASF SE; Chaoyang Chemicals, Inc.; Dow Chemicals; Global Bio-Chem Technology Group Co., LTD.; Helm AG; Huntsman International LLC; INEOS Oxide Ltd.; LyondellBasell Industries Holdings B.V.; Royal Dutch Shell PLC; Sinopec; SKC; Sumitomo Chemicals; Temix Oleo S.R.L.
Polaris market research has segmented the propylene glycol market report based on grade, source, end user and region:
By Grade (Revenue - USD Billion; Volume - Kilotons; 2020–2034)
Pharmaceutical & Food Grade
Industrial Grade
By Source (Revenue - USD Billion; Volume - Kilotons; 2020–2034)
Petroleum-Based Propylene Glycol
Bio-Based Propylene Glycol
By End User (Revenue - USD Billion; Volume - Kilotons; 2020–2034)
Food and Beverage
Automotive
Personal Care and Cosmetics
Chemical
Pharmaceutical
Construction
Others
By Regional Outlook (Revenue - USD Billion; Volume- Kilotons; 2020–2034)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Australia
Rest of APAC
Latin America
Argentina
Brazil
Mexico
Rest of Latin America
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Rest of MEA
Table of Contents
130 Pages
- Chapter 1.Introduction
- 1.1Report Description
- 1.1.1Objectives of the Study
- 1.1.2Market Scope
- 1.1.3Assumptions
- 1.2Stakeholders
- Chapter 2.Executive Summary
- Chapter 3.Research Methodology
- 3.1Overview
- 3.1.1Data Mining
- 3.2Data Sources
- 3.2.1Primary Sources
- 3.2.2Secondary Sources
- Chapter 4.Propylene Glycol Market Insights
- 4.1Propylene Glycol – Industry snapshot
- 4.1Propylene Glycol Market Dynamics
- 4.1.1Drivers and Opportunities
- 4.1.1.1Rising demand from automobile sector for antifreeze solutions
- 4.1.1.2Rising demand from end-use industries
- 4.1.2Restraints and Challenges
- 4.1.2.1Volatile raw material prices and shortage in supplies
- 4.2Porter’s Five Forces Analysis
- 4.2.1Bargaining Power of Suppliers (Medium)
- 4.2.2Threats of New Entrants: (Low to Medium)
- 4.2.3Bargaining Power of Buyers (High)
- 4.2.4Threat of Substitute (Medium to High)
- 4.2.5Rivalry among existing firms (High)
- 4.3PEST Analysis
- 4.1Propylene Glycol Market – Value Chain Analysis
- 4.2Propylene Glycol Market – Covid Impact Analysis and Industry Trends
- Chapter 5.Propylene Glycol Market Assessment by Grade
- 5.1Introduction
- 5.2Pharmaceutical & Food Grade
- 5.3Industrial Grade
- Chapter 6.Propylene Glycol Market Assessment by Source
- 6.1Introduction
- 6.2Petroleum-Based Propylene Glycol
- 6.3Bio-Based Propylene Glycol
- Chapter 7.Propylene Glycol Market Assessment by End-User
- 7.1Introduction
- 7.2Food and Beverage
- 7.3Automotive
- 7.4Personal Care and Cosmetics
- 7.5Chemical
- 7.6Pharmaceutical
- 7.7Construction
- 7.8Other End-Users
- Chapter 8.Propylene Glycol Market Assessment by Region
- 8.1Introduction
- 8.2Propylene Glycol Market – North America
- 8.2.1Propylene Glycol Market – U.S.
- 8.2.2Propylene Glycol Market – Canada
- 8.3Propylene Glycol Market – Europe
- 8.3.1Propylene Glycol Market – Germany
- 8.3.2Propylene Glycol Market – France
- 8.3.3Propylene Glycol Market – UK
- 8.3.4Propylene Glycol Market – Italy
- 8.3.5Propylene Glycol Market – Spain
- 8.4Propylene Glycol Market – Asia Pacific
- 8.4.1Propylene Glycol Market – China
- 8.4.2Propylene Glycol Market – India
- 8.4.3Propylene Glycol Market – Japan
- 8.4.4Propylene Glycol Market – South Korea
- 8.5Propylene Glycol Market – Latin America
- 8.5.1Propylene Glycol Market – Brazil
- 8.5.2Propylene Glycol Market – Mexico
- 8.5.3Propylene Glycol Market – Colombia
- 8.6Propylene Glycol Market – Middle East & Africa
- 8.6.1Propylene Glycol Market – Saudi Arabia
- 8.6.2Propylene Glycol Market – UAE
- Chapter 9.Competitive Landscape
- 9.1Competitive Environment
- 9.2Competitive Trends
- 9.3Estimated Company Market Share Analysis, 2020
- Chapter 10.Company Profiles
- 10.1BASF SE
- 10.1.1Business Overview
- 10.1.2Financial Snapshot
- 10.1.3Products and Services
- 10.1.4Recent Developments
- 10.2Global Bio-Chem Technology Group Co., LTD.
- 10.2.1Business Overview
- 10.2.2Financial Snapshot
- 10.2.3Products and Services
- 10.3Dow Chemicals
- 10.3.1Business Overview
- 10.3.2Financial Snapshot
- 10.3.3Products and Services
- 10.3.4Recent Developments
- 10.4Temix Oleo S.R.L.
- 10.4.1Business Overview
- 10.4.2Products and Services
- 10.5Asahi Glass Co., LTD.
- 10.5.1Business Overview
- 10.5.2Financial Snapshot
- 10.5.3Products and Services
- 10.5.4Recent Developments
- 10.6Sinopec
- 10.6.1Business Overview
- 10.6.2Financial Snapshot
- 10.6.3Products and Services
- 10.6.4Recent Developments
- 10.7INEOS Oxide Ltd.
- 10.7.1Business Overview
- 10.7.2Financial Snapshot
- 10.7.3Products and Services
- 10.7.4Recent Developments
- 10.8Sumitomo Chemicals
- 10.8.1Business Overview
- 10.8.2Financial Snapshot
- 10.8.3Products and Services
- 10.8.4Recent Developments
- 10.9Chaoyang Chemicals, Inc.
- 10.9.1Business Overview
- 10.9.2Products and Services
- 10.10SKC
- 10.10.1Business Overview
- 10.10.2Financial Snapshot
- 10.10.3Products and Services
- 10.11TRInternational
- 10.11.1Business Overview
- 10.11.2Financial Snapshot
- 10.11.3Products and Services
- 10.12Royal Dutch Shell PLC
- 10.12.1Business Overview
- 10.12.2Financial Snapshot
- 10.12.3Products and Services
- 10.13Helm AG
- 10.13.1Business Overview
- 10.13.2Financial Snapshot
- 10.13.3Products and Services
- 10.13.4Recent Developments
- 10.14LyondellBasell Industries Holdings B.V.
- 10.14.1Business Overview
- 10.14.2Financial Snapshot
- 10.14.3Products and Services
- 10.15Adeka Corporation
- 10.15.1Business Overview
- 10.15.2Financial Snapshot
- 10.15.3Products and Services
- 10.16Huntsman International LLC
- 10.16.1Business Overview
- 10.16.2Financial Snapshot
- 10.16.3Products and Services
- 10.17Archer-Daniels-Midland Company
- 10.17.1Business Overview
- 10.17.2Financial Snapshot
- 10.17.3Products and Services
- 10.17.4Recent Developments
Pricing
Currency Rates
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