Propylene Glycol Market Size Worth USD 7.31 Billion by 2034 | CAGR: 4.3%

The propylene glycol market size is expected to reach USD 7.31 Billion by 2034, according to a new study by Polaris Market Research. The report “Propylene Glycol Market Size, Share, Trends, Industry Analysis Report: By Grade (Pharmaceutical & Food Grade, Industrial Grade), By Source, By End User, By Region – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Propylene Glycol is a colorless, odorless, and slightly viscous liquid used as a solvent, humectant, and preservative in various industries. It is commonly found in food, pharmaceuticals, cosmetics, and industrial applications like antifreeze and de-icing solutions.

Propylene glycol is widely used in the pharmaceutical industry as a solvent and carrier for active pharmaceutical ingredients in syrups, injectables, creams, and capsules. The demand for medications is increasing rapidly with the growing global population, aging demographics, and rising prevalence of chronic diseases. Additionally, the rise in generic drug manufacturing and expanding healthcare access in emerging economies are boosting pharmaceutical production. Consequently, the need for safe, non-toxic, and approved excipients such as propylene glycol grows, thereby fueling the market growth.

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Technological innovations in chemical processing have significantly improved the efficiency, safety, and environmental impact of propylene glycol production. Advanced manufacturing techniques now allow for better yield, lower energy consumption, and reduced waste generation. Moreover, the integration of AI and automation in chemical plants enables real-time monitoring and quality control, ensuring consistent product performance. These advancements reduce production costs and make it easier for companies to scale up operations. Technology improves the competitiveness of propylene glycol producers as technology continues to evolve, encouraging investment and expansion in the market.

Propylene Glycol Market Report Highlights

• The pharmaceutical and food grade equipment segment is projected to expand at a CAGR of 4.2% during the forecast period, supported by growing health awareness, strict regulatory standards, and the rising consumption of processed food products and personal care items.
• In 2024, the pharmaceutical segment held a notable 10.68% share of global revenue, driven by its essential role in delivering active pharmaceutical ingredients (APIs) across various drug formulations.
• The Asia Pacific region dominated the global propylene glycol market in 2024, accounting for 37.29% of total revenue, primarily due to rapid industrial growth, urbanization, and strong demand from automotive, pharmaceutical, and food & beverage industries.
• The North American market is forecasted to grow at a CAGR of 4.4% throughout the forecast period, fueled by steady demand across its mature and diverse automotive, pharmaceutical, and food processing sectors.
• The global key market players are Adeka Corporation; Archer-Daniels-Midland Company; Asahi Glass Co., LTD.; BASF SE; Chaoyang Chemicals, Inc.; Dow Chemicals; Global Bio-Chem Technology Group Co., LTD.; Helm AG; Huntsman International LLC; INEOS Oxide Ltd.; LyondellBasell Industries Holdings B.V.; Royal Dutch Shell PLC; Sinopec; SKC; Sumitomo Chemicals; Temix Oleo S.R.L.

Polaris market research has segmented the propylene glycol market report based on grade, source, end user and region:

By Grade (Revenue - USD Billion; Volume - Kilotons; 2020–2034)

• Pharmaceutical & Food Grade
• Industrial Grade

By Source (Revenue - USD Billion; Volume - Kilotons; 2020–2034)

• Petroleum-Based Propylene Glycol
• Bio-Based Propylene Glycol

By End User (Revenue - USD Billion; Volume - Kilotons; 2020–2034)

• Food and Beverage
• Automotive
• Personal Care and Cosmetics
• Chemical
• Pharmaceutical
• Construction
• Others

By Regional Outlook (Revenue - USD Billion; Volume- Kilotons; 2020–2034)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Australia
  • Rest of APAC
• Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of MEA