Propylene Glycol Market Poised for Growth with Rising Automotive Demand in APAC and Environmentally Friendly Production Methods.

AUSTIN, TX, UNITED STATES, January 30, 2025 /EINPresswire.com/ -- The Propylene Glycol Market size was USD 4.85 billion in 2023 and is expected to reach USD 7.11 Billion by 2032 and grow at a CAGR of 4.35% over the forecast period of 2024-2032.

Propylene Glycol Market Growth Driven by Automotive Demand, Environmental Sustainability, and Expanding Applications in Food and Pharmaceuticals

The propylene glycol market is expected to grow during the forecast period, driven by rising demand in industries such as automotive, food and beverage, and pharmaceuticals. The expanding automotive sector in APAC and the environmentally friendly production process of bio-based propylene glycol are key factors contributing to this growth, alongside increased demand for functional fluids in Europe, particularly from the deicing and antifreeze sectors. Propylene glycol's use in unsaturated polyester resins, as well as its growing consumption in the construction, automotive, and transportation industries, is boosting market expansion. Additionally, the product's applications as an emulsifier, solvent, and stabilizer in foods, cosmetics, and pharmaceuticals further support demand. Despite its low toxicity, concerns over potential allergic reactions and cardiovascular effects may restrict market growth. The production of propylene glycol involves both catalytic and non-catalytic methods, with bio-based production gaining traction due to environmental concerns. Moreover, the market is fueled by industrial growth, especially in emerging economies like China and India, and advancements in technology and product development.

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Major Companies:

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

Segment Analysis

By Source
• Petroleum-based PG
• Bio-based PG

Petroleum-based Propylene Glycol Dominates Market with Lower Costs and Reliability

In 2023, petroleum-based propylene glycol (PG) led the market with a 75% share due to its cost efficiency and reliable production process. Its extensive use in antifreeze and industrial applications ensures its dominance, as manufacturers prioritize scalability and availability over bio-based alternatives.

By Grade
• Industrial Grade
• Pharmaceutical Grade
• Other

Industrial Grade Propylene Glycol Leads with Applications in Automotive and Industrial Processes

In 2023, industrial grade propylene glycol captured the largest share at 60%, with antifreeze and functional fluids contributing 30%. Widely used in automotive coolants and industrial solvents, its role in enhancing operational efficiency, particularly in transportation, drives demand in this segment.

By End-Use Industry
• Transportation
• Building & Construction
• Food & Beverage
• Pharmaceuticals
• Cosmetics & Personal Care
• Others

Food and Beverage Sector Drives Propylene Glycol Market Growth

In 2023, the food and beverage industry dominated the propylene glycol market with a 40% share, driven by its use as a preservative and emulsifier. The growing demand for processed foods and propylene glycol’s ability to stabilize and improve food texture fuels its strong presence in the sector.

Dominating Region: North America’s Stronghold in Propylene Glycol Market in 2023

In 2023, North America led the propylene glycol market with a 35% share, driven by high demand in automotive, pharmaceuticals, and food processing. The U.S. accounted for over 80% of the region's market, with propylene glycol used in antifreeze, food products like cakes and dressings, and pharmaceuticals. Canada also contributed significantly, especially in industrial fluids production.

Asia-Pacific Emerges as the Fastest Growing Propylene Glycol Market in 2023

The Asia-Pacific region saw a 6.5% CAGR in 2023, with China, India, and Japan driving growth. China led with a 40% market share, spurred by rising demand in automotive and industrial coolants. India’s growing food and beverage sector, along with Japan’s increasing pharmaceutical and cosmetic applications, further fueled the market expansion across APAC.

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Sustainability Initiatives and Environmental Impact in the Propylene Glycol Market

• Development of bio-based propylene glycol from renewable sources, such as glycerol, reduces reliance on fossil fuels and lowers carbon emissions.
• Adoption of circular economy principles by recycling propylene glycol and using waste materials as feedstock, promoting resource efficiency and minimizing waste.
• Focus on process optimization and energy efficiency to reduce greenhouse gas emissions in propylene glycol manufacturing.
• Prioritization of sustainable sourcing practices, ensuring raw materials are obtained from responsible suppliers adhering to environmental standards.
• Investment in green chemistry initiatives to develop greener processes, reducing hazardous solvent use and minimizing the environmental impact of production.

Recent Developments

• September 2023: Dow launched bio-based, lower-carbon propylene glycol solutions in Europe, applicable across industries like agriculture, pharmaceuticals, cosmetics, textiles, and food.
• May 2023: ORLEN Poludnie Plant in Poland began producing eco-friendly propylene glycol (BioPG) from glycerol, a biodiesel by-product, using BASE technology for more sustainable production.

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