Press release
Propylene Glycol Market Outlook: Projected to Reach $6.68 Billion by 2029
Propylene Glycol Market Outlook
The global propylene glycol market is expected to thrive, driven by the increasing demand in various industries and expanding applications, projecting a CAGR of 7.5%.
What Is The Projected Market Size Of The Global Propylene Glycol Market And Its Growth Rate?
• The propylene glycol market showed strong growth recently, with the market size rising from $4.71 billion in 2024 to $5.01 billion in 2025 at a successful CAGR of 6.3%.
• The market is predicted to continue its growth, reaching $6.68 billion in 2029 at a CAGR of 7.5%.
• The growth in the forecast period can be attributed to developments in bio-based propylene glycol, enhancement in health and hygiene focus, betterment in food preservation and packaging, and increasing use of antifreeze and coolants in automotive and industrial applications.
What Is Driving The Growth In The Propylene Glycol Market?
The driving force behind propylene glycol market growth is the rising consumption of processed foods. Propylene glycol is widely used as a preservative, flavor enhancer, and processing aid in this sector. The Food Export Association of the Midwest USA predicts that the retail sales of packaged foods in Japan will reach $235.9 billion by 2026, a leap by 9.1%. Hence, a surge in processed food consumption fuels the growth in the propylene glycol market.
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Who Are the Key Players Driving Propylene Glycol Market Growth?
• Archer-Daniels-Midland Company
• BASF SE
• The DOW Chemical Company
• Bio-Chem Technology Group Co. Ltd.
• LyondellBasell Industries N.V.
• Huntsman Corporation
• SKC CO. Ltd.
• INEOS Group Holdings Limited
• Manali Petrochemicals Limited
• DowDuPont Inc.
What Are The Key Trends In The Propylene Glycol Market?
• Supply chain optimization
• Market expansion strategies
• Sustainability and regulations
• Research and development
• Industrial utilization
What Are The Segments Of The Global Propylene Glycol Market?
• By Source: Petroleum-Based, Bio-Based
• By Grade: Industrial Grade, Pharmaceutical Grade
• By Application: Animal Feed, Inks, Lacquers, Tobacco Humectants, Varnishes
• By End User: Building And Construction, Consumer Goods, Cosmetics And Personal Care, Electronics, Food And Beverages, Paint And Coatings, Pharmaceuticals, Textile Industries, Tobacco, Transportation
Which Region Leads The Propylene Glycol Market?
Asia-Pacific was the dominating region in the propylene glycol market in 2024. It is also projected to show the fastest growth in the coming years. The regions covered in the propylene glycol report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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What Is Covered In The Propylene Glycol Global Market Report?
- Market Size Analysis: Analyzing the Propylene Glycol Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identifying various subsegments within the Propylene Glycol Market for effective categorization.
- Key Player Focusing on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examining individual growth trends and prospects in the Market.
- Market Contribution: Evaluating contributions of different segments to the overall Propylene Glycol Market growth.
- Growth Drivers: Detailing key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyzing challenges and risks affecting the Propylene Glycol Market.
- Competitive Developments: Analyzing competitive developments, such as expansions, agreements, and new product launches in the market.
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