According to the report, the global propylene glycol market is projected to grow at a CAGR of 4.4% between 2024 and 2032. Aided by the increasing demand in diverse industries such as pharmaceuticals, food and beverage, and cosmetics, the market is expected to grow significantly by 2032.
Propylene Glycol (PG) is a versatile organic compound commonly used as a base for de-icing solutions, a food additive, and an ingredient in pharmaceutical formulations and cosmetic products. It has established itself as a key component in countless applications due to its excellent properties as a solvent, humectant, and emulsifier.
The increasing utilisation of propylene glycol in various industries is a central factor driving global propylene glycol market growth. In the pharmaceutical sector, PG acts as a solvent for oral, injectable, and topical formulations. Its properties make it a key ingredient in the production of numerous items, including ointments, creams, and various other medical preparations.
The cosmetics and personal care industries also heavily rely on propylene glycol for its moisturising properties and ability to enhance product stability. From skin creams and deodorants to make-up products, PG is found in a broad array of formulations due to its excellent skin-conditioning properties.
The food and beverage industry is another significant domain where propylene glycol is extensively employed. Recognised as generally safe by health authorities around the world, it is used to maintain moisture and flavour in products such as baked goods, dressings, and artificial sweeteners. As a non-toxic antifreeze, PG is used in liquid cooling systems and to de-ice aircraft, showcasing its diverse range of applications.
As per the propylene glycol market analysis, the Asia Pacific is fast emerging as a key player in the global market. Rapid industrialisation, coupled with increased production of cosmetics and pharmaceuticals, contributes to the region’s increasing consumption of PG. Europe and North America, with their well-established pharmaceutical and cosmetic industries, continue to be significant markets for propylene glycol.
Looking forward, the propylene glycol market outlook appears poised for continued growth, driven by ongoing expansion in the pharmaceutical, food and beverage, and cosmetic sectors. Its role in the production of unsaturated polyester resins, used in the creation of various industrial products, offers additional pathways for growth.
Propylene Glycol (PG) is a versatile organic compound commonly used as a base for de-icing solutions, a food additive, and an ingredient in pharmaceutical formulations and cosmetic products. It has established itself as a key component in countless applications due to its excellent properties as a solvent, humectant, and emulsifier.
The increasing utilisation of propylene glycol in various industries is a central factor driving global propylene glycol market growth. In the pharmaceutical sector, PG acts as a solvent for oral, injectable, and topical formulations. Its properties make it a key ingredient in the production of numerous items, including ointments, creams, and various other medical preparations.
The cosmetics and personal care industries also heavily rely on propylene glycol for its moisturising properties and ability to enhance product stability. From skin creams and deodorants to make-up products, PG is found in a broad array of formulations due to its excellent skin-conditioning properties.
The food and beverage industry is another significant domain where propylene glycol is extensively employed. Recognised as generally safe by health authorities around the world, it is used to maintain moisture and flavour in products such as baked goods, dressings, and artificial sweeteners. As a non-toxic antifreeze, PG is used in liquid cooling systems and to de-ice aircraft, showcasing its diverse range of applications.
As per the propylene glycol market analysis, the Asia Pacific is fast emerging as a key player in the global market. Rapid industrialisation, coupled with increased production of cosmetics and pharmaceuticals, contributes to the region’s increasing consumption of PG. Europe and North America, with their well-established pharmaceutical and cosmetic industries, continue to be significant markets for propylene glycol.
Looking forward, the propylene glycol market outlook appears poised for continued growth, driven by ongoing expansion in the pharmaceutical, food and beverage, and cosmetic sectors. Its role in the production of unsaturated polyester resins, used in the creation of various industrial products, offers additional pathways for growth.
Market Segmentation
The market can be divided based on application and region.Market Breakup by Application
- Unsaturated Polyester Resins
- Functional Fluids
- Food, Drug, and Cosmetics
- Liquid Detergent
- Paints and Coating
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global propylene glycol market. Some of the major players explored in the report are as follows:- Dow Inc.
- BASF SE
- Shell Chemicals
- Repsol S.A.
- Archer Daniels Midland Company
- LyondellBasell Industries Holdings B.V.
- Others
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market15 Value Chain Analysis
3 Report Description
5 Executive Summary
6 Snapshot
8 Global Propylene Glycol Market Analysis
9 North America Propylene Glycol Market Analysis
10 Europe Propylene Glycol Market Analysis
11 Asia Pacific Propylene Glycol Market Analysis
12 Latin America Propylene Glycol Market Analysis
13 Middle East and Africa Propylene Glycol Market Analysis
14 Market Dynamics
16 Trade Data Analysis (HS Code - 290532)
17 Price Analysis
18 Competitive Landscape
19 Key Trends and Developments in the Market
1 Procurement Strategy
2 Manufacturing Process
3 Project Requirement and Cost Analysis
List of Key Figures and Tables
Companies Mentioned
- Dow Inc.
- BASF SE
- Shell Chemicals
- Repsol S.A.
- Archer Daniels Midland Company
- LyondellBasell Industries Holdings B.V.
Methodology
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