Japan Propylene Glycol (PG) Market was valued at USD 0.7 Billion in 2022 and is projected to reach USD 1.1 Billion by 2030, growing at a CAGR of 6.1% from 2024 to 2030.
Propylene Glycol (Pg) Has Become An Indispensable Compound Across Various Industries, Including Automotive, Pharmaceuticals, Cosmetics, And Food And Beverages. Its Versatility And Unique Properties Have Propelled Its Demand, Leading To Significant Market Growth. As Of 2024, The Global Propylene Glycol Market Was Valued At Approximately Usd 4.53 Billion And Is Projected To Reach Usd 6.37 Billion By 2030, Growing At A Compound Annual Growth Rate (Cagr) Of 5.83%.
The Automotive Industry Heavily Relies On Pg For Its Use In Antifreeze And Coolant Formulations. With The Global Increase In Vehicle Production And The Emphasis On Engine Efficiency, The Demand For High-Quality Antifreeze Solutions Has Surged. Pg'S Low Toxicity And High Boiling Point Make It An Ideal Component In These Applications.
In The Pharmaceutical Sector, Pg Serves As A Solvent In Various Medications, Including Oral, Injectable, And Topical Formulations. Its Hygroscopic Nature And Solubility Enhance The Stability And Efficacy Of Active Pharmaceutical Ingredients. Similarly, The Cosmetics And Personal Care Industry Utilizes Pg For Its Moisturizing Properties And Ability To Stabilize Formulations, Making It A Common Ingredient In Lotions, Creams, And Deodorants.
The Food And Beverage Industry Employs Pg As A Humectant, Solvent, And Preservative. Its Inclusion In Products Like Baked Goods And Dairy Items Helps Maintain Moisture And Extend Shelf Life. The Rising Demand For Processed And Packaged Foods, Driven By Changing Consumer Lifestyles And Urbanization, Has Further Bolstered The Market For Propylene Glycol.
Environmental Sustainability Has Become A Pivotal Factor Influencing Market Trends. The Shift Towards Bio-Based Propylene Glycol, Derived From Renewable Resources Such As Glycerol, Is Gaining Momentum. This Transition Is Driven By Increasing Environmental Awareness And Stringent Regulations Promoting Eco-Friendly Alternatives. Bio-Based Pg Offers A Reduced Carbon Footprint, Aligning With Global Sustainability Goals.
Geographically, The Asia-Pacific Region Leads The Market, Attributed To Rapid Industrialization And Economic Growth In Countries Like China And India. The Burgeoning Automotive And Construction Sectors In These Nations Have Spurred The Demand For Pg. North America And Europe Also Hold Substantial Market Shares, Supported By Established Pharmaceutical And Food Industries And A Growing Preference For Sustainable Products.
However, The Market Faces Challenges, Including Fluctuating Raw Material Prices And Regulatory Scrutiny Over Environmental Concerns. The Reliance On Petroleum-Based Sources For Traditional Pg Production Makes It Susceptible To Crude Oil Price Volatility. Additionally, Health Concerns Associated With Prolonged Exposure And The Environmental Impact Of Conventional Production Processes Have Led To Increased Regulatory Oversight.
In Response To These Challenges, Companies Are Investing In Research And Development To Innovate And Produce Bio-Based Alternatives. Collaborations And Partnerships Are Being Formed To Enhance Production Capacities And Develop Sustainable Solutions. For Instance, In October 2019, The Dow Chemical Company And Evonik Entered Into An Exclusive Technology Partnership To Introduce A Unique Method For Directly Synthesizing Propylene Glycol From Propylene And Hydrogen Peroxide, Aiming To Offer High Yield With Comparatively Low Energy Consumption.
In My Experience Working Within The Chemical Manufacturing Industry, I'Ve Observed A Marked Shift Towards Sustainable Practices. Companies Are Increasingly Adopting Bio-Based Production Methods, Not Only To Comply With Regulations But Also To Meet Consumer Demand For Environmentally Friendly Products. This Transition, While Challenging, Presents Opportunities For Innovation And Market Differentiation.
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Propylene Glycol (Pg) Market
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Get an In-Depth Research Analysis of the Global Propylene Glycol (PG) Market Size And Forecast [2025-2032]
Dow
Huntsman
DuPont (Tate Lyle )
ADM
Polioles
Lyondell Basell Industries
Repsol
BASF
Oelon
Sumitomo Chemical
Asahi
ADEKA
SKC
Shell
Shandong Shida Shenghua Chemical
Tongling Jintai Chemical
CNOOC and Shell Petrochemicals
Hi-tech Spring Chemical
Daze Group
Shandong Depu Chemical
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Propylene Glycol (PG) Market
UPR
PPG
Pharmaceuticals and Food
Others
Based on Types the Market is categorized into Below types that held the largest Propylene Glycol (PG) market share In 2023.
Industrial Grade
Food Grade
Pharmaceutical Grade
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Propylene Glycol (PG) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Propylene Glycol (PG) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Propylene Glycol (PG) Market, By Type
6. Global Propylene Glycol (PG) Market, By Application
7. Global Propylene Glycol (PG) Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Propylene Glycol (PG) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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