Propylene Glycol Market Size, Share, Trends & Industry Growth Analysis Report to 2024-2032

The global propylene glycol market size was worth around USD 4.61 Billion in 2023 and is predicted to grow to around USD 6.90 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 4.57% between 2024 and 2032.

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The research additionally incorporates the market share of the principal players engaged in the global propylene glycol industry. The report provides an analysis of the strategic development, regional expansion, and collaborations & mergers, agreements, partnerships, collaborations, and joint ventures of the market’s major participants.

Propylene glycol, a chemical molecule having numerous applications, is characterised by its antifreeze properties, high boiling point, and low toxicity. Propylene glycol is an amalgamation of water and propylene oxide. It is composed of the two substances. A viscous substance that is typically colourless and odourless is the norm. Moreover, it exhibits remarkable solubility across a broad spectrum of liquids, such as chloroform, acetone, and water. Propylene glycol finds application in numerous sectors, encompassing but not limited to the construction, food and beverage, pharmaceutical, and automotive industries. Proprilene glycol is frequently categorised into industrial and medicinal groups based on the purposes for which it is intended.

It is anticipated that rapidly expanding industries, including the food and beverage and automotive sectors, will continue to propel the global propylene glycol market forward. There is an expectation that the global market for propylene glycol will witness further expansion throughout the projected timeframe due to the increasing prevalence of this substance in processed foods and beverages.

Due to its exceptional characteristics, propylene glycol is utilised extensively in numerous industries, including the automotive sector, the personal care industry, and the food industry, among others. There is a potential for this market to encounter obstacles within the anticipated period as a result of the volatile costs of basic materials and the substantial investments necessary for research and development. Alternatively, the increased demand for bio-based propylene glycol materials is expected to generate additional opportunities for the propylene glycol market over the coming years.

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The Global Propylene Glycol Market is segmented based on product, application and region

Global Propylene Glycol Market: Product Segment Analysis

● Industrial Grade
● Pharmaceutical Grade

Global Propylene Glycol Market: Application Segment Analysis

● Cosmetics and Personal Care
● Food and Beverage
● Pharmaceutical
● Automotive
● Building and Construction
● Others

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The global Propylene Glycol market profiles key players such as:

● The Dow Chemical Company
● BASF SE
● Archer Daniels Midland Company
● LyondellBasell Industries N.V.
● DuPont Tate & Lyle Bio Products Company
● LLC
● Global Bio-chem Technology Group Co., Ltd.
● Huntsman Corporation
● SKC Co. Ltd.
● Temix International S.R.L.,
● Ineos Oxide

Analysis of the Propylene Glycol Market by Region

In terms of market share, Asia Pacific dominated the propylene glycol industry in 2024, and this region is expected to maintain the highest CAGR in the foreseeable future. The prosperous end-user sectors that are geographically dispersed are probably to blame for this. Predicted on the robust growth of the pharmaceutical and food and beverage industries, North America is expected to emerge as the second most significant regional market for propylene glycol in the coming years. Furthermore, it is expected that the growing automotive industry in Europe and Latin America will serve as a significant catalyst for the growth of the propylene glycol market in these areas over the projected time frame.

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