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Propylene Glycol Market Research Report – Forecast to 2030

Propylene Glycol Market Information: by Source (petroleum-based, bio-based), Grade (industrial grade, pharmaceutical grade), End-Use industry (food & beverage, cosmetics & personal care, pharmaceutical, building & construction, automotive), and Region – Forecast till 2030

ID: MRFR/CnM/4501-HCR | February 2021 | Region: Global | 100 pages

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Propylene Glycol Market Overview

Propylene glycol market is expected to grow USD 6.54 billion CAGR 4.30% during the forecast 2021-2030.

Propylene glycol (PG) is a synthetic organic compound, known by the molecular formula C3H8O2. It is also known by the name propane-1,2-diol. Propylene glycol is a clear, colorless, odorless, viscous, and possess a faint sweet taste. It is hygroscopic, low toxicity, and shows broad solvency. Propylene glycol can be obtained from both petroleum and bio-based source. Propylene glycol is produced synthetically by the hydration of propylene oxide by either catalytic or non-catalytic process, whereas bio-based propylene glycol is produced by the hydrogenolysis of glycerin.

Propylene glycol is available in two grades namely industrial grade and pharmaceutical grade. Industrial grade propylene glycol is used to make vast range of products such as unsaturated polyester resin, coolants and antifreeze, hydraulic and brake fluid, aircraft deicing fluid, heat transfer fluids, paint and coatings, printing inks and liquid detergents among other and finds wide applications in various end-use industries such as building & construction, automotive, aerospace, chemical, household, and packaging. Pharmaceutical grade propylene glycol finds applications in end-use industries such as food & beverages, pharmaceutical, cosmetics & personal care, and defense. Propylene glycol is approved for use as a food additive by the U.S. Food & Drug Administration (FDA) under E-number E 1520 with strict maximum limit of 1 g/kg in human foodstuffs. In food and beverage industry, it is used as a solvent, anti-freeze agent, flavor enhancer, thickener, emulsifier, humectant, clarifier and stabilizer in food products such as ice cream, artificial sweeteners, flavorings & essence, icing, and soft drinks, frostings, candies, and baked goods among others. It acts as a solvent, emulsifier and stabilizer in pharmaceutical applications such as injectable, oral and topical formulations.


Introduction of bio-based propylene glycol is expected to majorly drive the global propylene glycol market and expected to ensure steady revenue source during the forecast period.  Rising consumer preference for convenience foods across the globe due to lifestyle changes boost the food & beverage industry and thus expected to fuel demand propylene glycol as a food additive. Cosmetics & personal care industry is seen significant growth in the last few years due to changing lifestyle in both developed & developing regions and thus expected to drive high demand for propylene glycol during the forecast period. Additionally, strong automotive industry in China & Germany is expected to drive the global propylene glycol market for automotive applications such as coolants and antifreeze, hydraulic and brake fluid, aircraft deicing fluid to a large extent during the forecast period. Furthermore, rapid industrialization & urbanization in Asia Pacific due to expanding population, ongoing infrastructural projects in Middle East to flourish the tourism industry, and growing construction activities in Latin America is likely to boost the global construction industry and thus expected to fuel the global propylene glycol market for construction applications over the forecast period.  


However, due to growing consumer preference for bio-based products on account of stringent regulations by regulatory bodies like REACH and E.P.A, petroleum-based propylene glycol market is likely to hamper mostly in the developed regions.


Key Players


Some of the major players operating in the global propylene glycol market are LyondellBasell Industries Holdings B.V. (Netherlands), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Global Bio-chem Technology Group Company Limited (China), ADEKA CORPORATION (Japan), Chaoyang Chemicals, Inc. (U.S.), Huntsman International LLC. (U.S.), DowDuPont Inc. (U.S.), Manali Petrochemicals Limited (India), and HaiKe Chemical Group (China).

Propylene Glycol Market: Regional Analysis


The global propylene glycol market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. 


Asia Pacific is expected to be the largest and fastest growing market for propylene glycol in 2017 due to   rapid industrialization & urbanization, rising disposable income, changing lifestyle, growing health awareness, and relaxed investment norms. End-use industries such as building & construction, automotive, pharmaceutical, food & beverages, cosmetics & personal care, and chemical are expected to drive the regional propylene glycol demand and expected to show bolstering demand during the forecast period.


North America was the second largest market for propylene glycol after Asia Pacific in 2017 and expected to show considerable growth during the forecast period. High demand from building & construction, pharmaceutical, food & beverages, cosmetics & personal care, chemical, aerospace is expected to drive the regional propylene glycol market.


Europe is expected to show steady demand of propylene glycol over the forecast period and the demand is expected to come from the strong automotive industry, food & beverages, cosmetics & personal care, and chemical industry among other.


The Middle East & Africa is expected to show moderate demand of propylene glycol over the forecast period and the demand is expected to come mainly from the construction industry due to ongoing infrastructural projects in Qatar, U.A.E., Kuwait, and Oman.


Latin America is also expected to show moderate growth due to slow overall development and the demand is expected to come mainly from the evolving construction industry in Brazil, Mexico, Chile, and Venezuela.


Global Propylene Glycol Market in 2017, by End-Use Industry


 Propylene Glycol Market


Source: MRFR Analysis


Market Segmentation


The global propylene glycol market is segmented by source, grade, end-use industry, and region.


On the basis of the source, the global propylene glycol market is segmented into petroleum-based and bio-based.


On the basis of the grade, the global propylene glycol market is segmented into industrial grade and pharmaceutical grade. Industrial grade is sub-segmented on the basis of applications into unsaturated polyester resins, coolants and antifreeze, hydraulic and brake fluid, aircraft deicing fluid, heat transfer fluids, paint and coatings, printing inks and liquid detergents. Pharmaceutical grade is sub-segmented on the basis of applications into processed foods & animal feedstock, pharmaceuticals, cosmetics & personal care products, tobacco & electronic cigarettes, theater fogs & artificial smoke.


On the basis of end-use industry, the global propylene glycol market is segmented into food & beverage, cosmetics & personal care, pharmaceutical, building & construction, automotive, and others.


On the basis of the region, the global propylene glycol is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.


Intended Audience



  • Propylene glycol manufacturers

  • Traders and distributors of propylene glycol

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratory



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 6.54 billion 2030
  CAGR   4.30% 2030
  Base Year   2021
  Forecast Period   2021-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Source, Grade, and End-use Industry
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   LyondellBasell Industries Holdings B.V. (Netherlands), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Global Bio-chem Technology Group Company Limited (China), ADEKA CORPORATION (Japan), Chaoyang Chemicals, Inc. (U.S.), Huntsman International LLC. (U.S.), DowDuPont Inc. (U.S.), Manali Petrochemicals Limited (India), and HaiKe Chemical Group (China)
  Key Market Opportunities   Introduction of bio-based propylene glycol
  Key Market Drivers

  • changing lifestyle in both developed & developing regions
  • strong automotive industry in China & Germany


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    Frequently Asked Questions (FAQ) :

    Leading players profiled in the propylene glycol market include HaiKe Chemical Group (China), Manali Petrochemicals Limited (India), DowDuPont Inc. (U.S.), Huntsman International LLC. (U.S.), Chaoyang Chemicals, Inc. (U.S.), Chaoyang Chemicals, Inc. (U.S.), ADEKA CORPORATION (Japan), Global Bio-chem Technology Group Company Limited (China), Archer Daniels Midland Company (U.S.), BASF SE (Germany), and LyondellBasell Industries Holdings B.V. (Netherlands).

    It finds extensive application in automotive, building and construction, pharmaceutical, cosmetics and personal care, and food and beverage.

    Increasing preference for convenience foods and growing automotive and cosmetics & personal care industry are boosting the market growth.

    The APAC region will is likely to dominate the propylene glycol market.

    Strict regulations by regulatory bodies may limit the propylene glycol market growth.