Propylene glycol is a chemical compound that is commonly used as a solvent, humectant, and preservative in a wide range of industries. The propylene glycol industry encompasses the production, distribution, and use of this chemical, which is primarily derived from petroleum or bio-based sources.

The market research provides industry trends (Drivers, Constraints, Opportunities, Threats, Challenges, and Investment Opportunities), propylene glycol market size, share, and outlook with expert review. Propylene Glycol Market is projected to reach USD 4.7 billion by 2024, at a CAGR of 4.4% from USD 3.8 billion in 2019. The eco-friendly production process of bio-based propylene glycol has led to the growth of the global propylene glycol market. The growing automotive industry in APAC is also driving the market as propylene glycols are widely used in engine coolants and sheet molding compounds, among others.

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The drivers of the propylene glycol industry by 2023-24 are likely to include:

1. Growing demand in the food and beverage industry: Propylene glycol is widely used as a food additive and preservative in a variety of food and beverage products, including baked goods, dairy products, and soft drinks. With the global population expected to continue to grow, the demand for food and beverages is also expected to rise, driving demand for propylene glycol.

2. Increasing demand in the pharmaceutical industry: Propylene glycol is used as a solvent and vehicle in many pharmaceutical products, including oral and topical medications. As the global population continues to age and the demand for healthcare products grows, the pharmaceutical industry is expected to see increasing demand for propylene glycol.

3. Growing demand in the cosmetics industry: Propylene glycol is used as a humectant and emulsifier in many cosmetic and personal care products, including lotions, creams, and shampoos. As consumers become more interested in personal care and grooming, the demand for these products is expected to rise, driving demand for propylene glycol.

4. Increased production of bio-based propylene glycol: With growing concerns about the environmental impact of petroleum-based chemicals, there is increasing interest in bio-based alternatives. As the technology for producing bio-based propylene glycol improves, the demand for this alternative is expected to rise.

• The Dow Chemical Company (US)
• LyondellBasell Industries N.V. (Netherlands)
• BASF SE (Germany)
• Archer Daniels Midland Company (US)
• Global Bio-chem Technology Group Co., Ltd. (China)
• DuPont Tate Lyle Bio Products, LLC (US)
• Huntsman Corporation (US)
• SKC Co., Ltd. (South Korea)
• Temix International S.R.L. (Italy)
• Ineos Oxide (Switzerland)

“Pharmaceuticals to be the fastest-growing application of the global propylene glycol market during the forecast period”

Propylene glycol is a versatile chemical compound used in a variety of industries, including pharmaceuticals, food, cosmetics, and others. According to various industry reports and market analysis, pharmaceuticals are expected to be the fastest-growing application of the global propylene glycol market during the forecast period.

This growth is primarily driven by the increasing demand for propylene glycol in the pharmaceutical industry as it is widely used as a solvent and excipient in the production of various drugs, including injectables, topical formulations, and oral medications. Propylene glycol is also used as a carrier for flavors and fragrances in various pharmaceutical products, such as cough syrups, mouthwashes, and other over-the-counter drugs.

In addition to its use as a pharmaceutical ingredient, propylene glycol is also used as a humectant, emulsifier, and solvent in many personal care products, such as moisturizers, shampoos, and shaving creams. The increasing demand for personal care products, especially in emerging economies, is expected to further boost the growth of the propylene glycol market.

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“APAC to be the fastest-growing market for propylene glycol during the forecast period”

the Asia-Pacific (APAC) region is expected to be the fastest-growing market for propylene glycol during the forecast period.

The growth in the APAC region is primarily driven by the increasing demand for propylene glycol from various end-use industries, including pharmaceuticals, food, and cosmetics. The growing population, rising disposable income, and increasing urbanization in the region are also contributing to the growth of these industries.

In addition, several countries in the APAC region, such as China, India, and Japan, have a strong presence of key players in the propylene glycol market, which is further driving the growth of the market in the region. These countries also have favorable government regulations and policies that promote the use of propylene glycol in various industries, which is expected to further boost the demand for the compound in the region.

The APAC region is expected to witness significant growth in the propylene glycol market in the coming years, making it one of the most lucrative markets for propylene glycol manufacturers and suppliers.