Global Propylene Glycol Market Statistics: USD 6.3 Million Value by 2033

Summary:

• The global propylene glycol market size reached USD 4.5 Million in 2024.
• The market is expected to reach USD 6.3 Million by 2032, exhibiting a growth rate (CAGR) of 4.02% during 2025-2033.
• Asia Pacific leads the market, accounting for the largest propylene glycol market share.
• Petroleum-based represents the majority of the market share in the source segment as it provides a reliable supply chain and scalability.  
• Unsaturated polyester resins hold the biggest share in the propylene glycol industry.
• Transportation remains a dominant segment in the market due to the increasing adoption of vehicles.     
• The rising consumption of food products is a primary driver of the propylene glycol market.
• The thriving pharmaceutical sector and the increasing focus on personal care are reshaping the propylene glycol market.

Industry Trends and Drivers:

• Growing Consumption of Food Products:

The rising employment of propylene glycol in the food and beverage (F&B) industry as a food additive, emulsifier, and preservative is contributing to the market growth. Propylene glycol is recognized for its ability to enhance flavor, maintain moisture, and improve texture in various products, including baked goods, beverages, and dairy products. There is an increase in the demand for food-grade propylene glycol as consumers are shifting towards convenience foods, ready-to-eat (RTE) meals, and flavored beverages. In addition, health-conscious consumers are seeking natural and low-calorie alternatives. Besides this, regulatory approvals affirm propylene glycol's safety for consumption, which is increasing its acceptance among manufacturers.  

• Thriving Pharmaceutical Sector:

The increasing adoption of propylene glycol on account of the thriving pharmaceutical industry is impelling the market growth. Propylene glycol is widely utilized in drug formulations, vaccines, and personal care products. Its properties as a solvent, humectant, and carrier make it ideal for enhancing the bioavailability and stability of active pharmaceutical ingredients. Improving healthcare expenditures, along with the rising prevalence of chronic diseases, is catalyzing the demand for propylene glycol in pharmaceuticals. Moreover, there is an increase in the focus on injectable and topical formulations. Propylene glycol is widely used as a safe and effective ingredient. The ongoing innovation in drug delivery systems and personalized medicine is likely to strengthen the role of propylene glycol in pharmaceutical formulation and production.     

• Increasing Focus on Personal Care:

The rising focus on personal well-being among individuals worldwide is supporting the market growth. Propylene glycol is a versatile ingredient that is used in various applications, including moisturizers, shampoos, and makeup products. It is known for its superior moisturizing properties and acts as a humectant that helps retain moisture while enhancing the overall efficacy of cosmetic formulations. The growing consumer awareness about skincare and beauty products, along with the increasing focus on product quality and performance, is offering a favorable market outlook. Additionally, the thriving e-commerce sector and the increasing focus on social media marketing are expanding the reach of beauty brands to a wider consumer base.           

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Propylene Glycol Market Report Segmentation:

Breakup By Source:

• Petroleum-based
• Bio-based

Petroleum-based accounts for the majority of shares as it provides a reliable supply chain and scalability.

Breakup By Application:

• Unsaturated Polyester Resins
• Antifreeze and Functional Fluids
• Food, Drug, and Cosmetics
• Liquid Detergent
• Paints and Coatings
• Others

Unsaturated polyester resins dominate the market on account of their ability to reduce viscosity and improve handling during the manufacturing process.

Breakup By End Use Industry:

• Transportation
• Building and Construction
• Food and Beverage
• Pharmaceuticals
• Cosmetics and Personal Care
• Others

Transportation represents the majority of shares due to the rising adoption of vehicles.

Breakup By Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia Pacific enjoys the leading position owing to a large market for propylene glycol driven by rapid urbanization.  

Top Propylene Glycol Market Leaders:

The propylene glycol market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• Archer-Daniels-Midland Company
• BASF SE
• DuPont de Nemours Inc.
• Global Bio-chem Technology Group Company Limited
• INEOS Group Limited
• LyondellBasell Industries N.V.
• Shell Plc
• SK Picglobal
• Dow Inc.

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