Enhanced with market attractiveness analysis, total addressable market evaluation, company benchmarking matrices, interactive Excel dashboards, expanded supply chain intelligence, emerging startup coverage, and detailed product insights, The Business Research Company’s 2026 market reports deliver more actionable and strategically valuable research.
#Propylene Glycol Market Size And Revenue Forecast Through 2030
The propylene glycol market has witnessed considerable growth recently. It is projected to grow from $4.94 billion in 2025 to $5.3 billion in 2026, reflecting a compound annual growth rate (CAGR) of 7.3%. Throughout its history, this market’s expansion has been propelled by elements such as the heightened production of polyester resin, an uptick in food and beverage processing, the expanding application in antifreeze formulations, increasing consumer demand for personal care products, and the steady availability of petroleum-based feedstocks.
The propylene glycol market is poised for significant growth in the coming years, with its valuation forecasted to hit $6.9 billion by the year 2030, demonstrating a compound annual growth rate (CAGR) of 6.8%. This projected expansion is predominantly driven by a growing preference for bio-based chemicals, a rise in pharmaceutical output, the expanding reach of cold-chain logistics, an elevated need for eco-friendly deicing products, and additional uses in electronics cooling fluids. During this timeframe, notable trends include the increasing adoption of bio-based propylene glycol, its enhanced application in food-safe antifreeze, greater demand from pharmaceutical and cosmetic formulations, more widespread utilization in transportation deicing, and an intensified focus on chemical solutions with low toxicity.
Download A Free Sample Report For Comprehensive Market Insights:
Propylene Glycol Market Growth Drivers: What Factors Are Accelerating Expansion?
The anticipated expansion of the agricultural sector is projected to drive the future development of the propionic acid market. The agriculture industry is defined as an economic sector covering all operations involved in plant cultivation and animal husbandry, serving purposes such as producing food, fiber, and other materials. Within agriculture, propionic acid serves as an antimicrobial and antifungal substance, utilized for the management of poultry litter and the treatment of drinking water for livestock. For example, data from December 2024, provided by the Italy-based government agency, the Food and Agriculture Organization (FAO), indicates that global wheat exports in 2023 reached 199.1 million tonnes, signifying an increase of 8.1 million tonnes from the 2022 figures. Consequently, the expansion observed in the agricultural industry is stimulating the growth of the propionic acid market.
#Propylene Glycol Market Segment Landscape And Growth Potential
The propylene glycol market covered in this report is segmented –
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, Food And Beverages, Paint And Coatings, Pharmaceuticals, Textile Industries, Tobacco, Transportation
Subsegments:
1) By Petroleum-Based: Conventional Propylene Glycol, High Purity Propylene Glycol
2) By Bio-Based: Glycerol-Based Propylene Glycol, Fermentation-Based Propylene Glycol
Propylene Glycol Market Trends: What Is Shaping Future Industry Growth?
Leading firms within the propylene glycol sector are focusing on developing innovative solutions, such as hydrogen-peroxide-to-propylene-glycol (HPPG) production technology, to meet the increasing demand for more environmentally friendly and economically efficient PG manufacturing. This HPPG technology, commercially known as HYPROSYN, allows for the direct synthesis of propylene glycol using hydrogen peroxide and propylene within a single reactor, thereby eliminating the traditional propylene oxide intermediate step. Unlike standard processes, which typically involve multiple stages and consume more water and energy, HYPROSYN reduces operational expenditures, improves output, and is adaptable for integration into existing PG facilities. The method offers ecological advantages, flexible operations, and scalability for various industrial applications, including food additives, pharmaceutical products, and personal care items. An illustration of this is the collaboration in October 2023 between Dow, a US-based chemical firm and the world’s leading propylene glycol producer, and Evonik Industries, a Germany-based specialty chemicals company and hydrogen peroxide producer, to launch a pilot HPPG plant at Evonik’s Hanau site. This facility demonstrates the direct synthesis pathway, emphasizing decreased water consumption, lowered energy expenditure, and the removal of propylene oxide, thus making the process more sustainable and productive.
Propylene Glycol Market Competitive Landscape: Who Are The Leading Companies?
Major companies operating in the propylene glycol market are Dow Inc., LyondellBasell Industries, BASF SE, Shell plc, Exxon Mobil Corporation, Huntsman Corporation, SKC Co. Ltd., Asahi Kasei Corporation, LG Chem Ltd., Repsol S.A., PCC Group, Manali Petrochemicals Ltd., Reliance Industries Limited, PetroChina Company Limited, Shandong Shida Shenghua Chemical, Archer Daniels Midland Company, Cargill Incorporated, Oleon NV, Mitsui Chemicals, Inc., Formosa Plastics Corporation
Access The Complete Propylene Glycol Market Report:
#Propylene Glycol Market Largest Region: Which Geography Holds The Highest Market Share?
Asia-Pacific was the largest region in the propylene glycol market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the propylene glycol market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Get in touch with us:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas: +1 310-496-7795
Asia: +44 7882 955267 & +91 8897263534
Europe: +44 7882 955267
Email us at: marketing@tbrc.info
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.