The propylene glycol market has demonstrated commendable growth in recent years, growing from a size of $4.71 billion in 2024 to an estimated $5.01 billion in 2025 with a CAGR of 6.3%. The historic growth dynamic has been fueled by the increasing use of propylene glycol due to its humectant and solvent properties in diverse domains such as industrial manufacturing, food and beverage, pharmaceuticals, and personal care.
Forecasted growth follows a similar trend, projecting the market to reach $6.68 billion by 2029 with a higher CAGR of 7.5%. This future growth is set to be driven by bio-based propylene glycol, increased focus on health and hygiene, food preservation and packaging, its use as antifreeze and coolants in automotive, and industrial applications.
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What Factors are Propelling the Growth of the Propylene Glycol Market?
The propylene glycol market is set to be driven predominantly by rising consumption of processed foods worldwide. Processed food often contains propylene glycol as it acts as a preservative, flavor enhancer, and processing aid. Considering the forecast by the Food Export Association of the Midwest USA of retail sales of packaged food in Japan reaching $235.9 billion by 2026, the propylene glycol market stands to gain from this increase in processed food consumption.
What Are the Major Segments of the Propylene Glycol Market?
The propylene glycol market is segmented as follows:
1) By Source: Petroleum-Based, Bio-Based
2) By Grade: Industrial Grade, Pharmaceutical Grade
3) By Application: Animal Feed, Inks, Lacquers, Tobacco Humectants, Varnishes
4) By End User: Building And Construction, Consumer Goods, Cosmetics And Personal Care, Electronics, Food And Beverages, Paint And Coatings, Pharmaceuticals, Textile Industries, Tobacco, Transportation.
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Who Are the Major Players in the Propylene Glycol Market?
Major market players include 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., among others.
What Are the Emerging Trends in the Propylene Glycol Market?
Product innovation and bio-based propylene are key trends in the propylene glycol market. For instance, in March 2022, German chemical manufacturing company Evonik launched its renewable isophorone-based products using renewable acetone, which significantly reduce CO2 footprint and global warming potential compared to conventional products.
Which Region is the Fastest Growing in the Propylene Glycol Market?
Asia-Pacific region was the largest in the propylene glycol market in 2024 and is anticipated to be the fastest-growing through the forecast period. Besides Asia-Pacific, the report also covers regions like Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Propylene Glycol Market Report 2025 Offer?
The Propylene Glycol Market is a research report that offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Propylene glycol is a synthetic liquid that absorbs water and is typically used in the production of polyester compounds and deicing solutions.
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