Propylene Glycol Global Market Report 2026

Propylene glycol is a synthetic liquid known for its water-absorbing properties. Commonly utilized in the production of polyester compounds and as a base in deicing solutions, propylene glycol serves as an antifreeze in various applications to prevent leakage that may lead to contact with food. It is sourced from petroleum-based and bio-based materials. Bio-based propylene glycol is a polymer derived from natural resources like corn, sugar cane, vegetable oil, and other biomass.

Propylene glycol comes in various grades, including industrial and pharmaceutical grades, each finding applications in areas such as animal feed, inks, lacquers, tobacco humectants, and varnishes. The versatile substance is employed by diverse end-users, spanning the building and construction industry, consumer goods (cosmetics and personal care), electronics, food and beverages, paint and coatings, pharmaceuticals, the textile industry, tobacco, and transportation.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are impacting the propylene glycol market by increasing costs of imported petroleum feedstocks, bio-based raw materials, processing catalysts, and chemical intermediates used in production. North America and Europe are most affected due to reliance on imported inputs, while Asia-Pacific faces cost pressure on export-oriented production. These tariffs are raising production costs and affecting pricing competitiveness. However, they are also encouraging regional sourcing, domestic bio-based production, and investments in alternative feedstock technologies.

The propylene glycol market research report is one of a series of new reports from The Business Research Company that provides propylene glycol market statistics, including propylene glycol industry global market size, regional shares, competitors with a propylene glycol market share, detailed propylene glycol market segments, market trends and opportunities, and any further data you may need to thrive in the propylene glycol industry. This propylene glycol market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The propylene glycol market size has grown strongly in recent years. It will grow from $4.94 billion in 2025 to $5.3 billion in 2026 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to expansion of polyester resin production, growth in food and beverage processing, increasing use in antifreeze formulations, rising demand from personal care products, availability of petroleum-based feedstocks.

The propylene glycol market size is expected to see strong growth in the next few years. It will grow to $6.9 billion in 2030 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to increasing shift toward bio-based chemicals, rising pharmaceutical manufacturing volumes, expansion of cold-chain logistics, growing demand for eco-friendly deicing solutions, increasing applications in electronics cooling fluids. Major trends in the forecast period include rising adoption of bio-based propylene glycol, increasing use in food-safe antifreeze applications, growing demand from pharmaceutical and cosmetic formulations, expansion of deicing applications in transportation, enhanced focus on low-toxicity chemical solutions.

The expansion of the cosmetic and personal care industries is expected to propel the growth of the propylene glycol market going forward. The cosmetic and personal care industry encompasses businesses that manufacture skincare, hair care, makeup, fragrances, toiletries, and personal hygiene products aimed at improving appearance and maintaining health. Propylene glycol is used as a humectant and solvent in various cosmetic and personal care products due to its ability to retain moisture, improve texture, and enhance formulation stability. For instance, in August 2023, according to Circana, Inc., a US-based media company, sales of prestige beauty products in the US reached $14 billion in the first half of 2023, a 15% increase over the same period in 2022, while the mass beauty market generated $28 billion with 9% growth. Therefore, the expansion of the cosmetic and personal care industries is driving the propylene glycol market.

Major companies in the propylene glycol market are focusing on developing innovative solutions, such as hydrogen-peroxide-to-propylene-glycol (HPPG) production technology, to meet rising demand for sustainable and cost-efficient manufacturing. The HPPG technology, branded as HYPROSYN, enables direct synthesis of propylene glycol from hydrogen peroxide and propylene in a single reactor, bypassing the traditional intermediate propylene oxide. Unlike conventional multi-step processes, HYPROSYN reduces water and energy consumption, lowers operational costs, improves yield, and can be integrated into existing plants. The technology provides environmental benefits, operational flexibility, and scalability for industrial applications such as food additives, pharmaceuticals, and personal care products. For instance, in October 2023, Dow, a US-based chemical company, partnered with Evonik Industries, a Germany-based specialty chemicals company, to launch a pilot HPPG plant at Evonik's Hanau site, demonstrating lower water usage, reduced energy consumption, and elimination of propylene oxide, making the process more sustainable and efficient.

In October 2023, Dow Inc., a US-based provider of specialty chemicals and advanced materials, partnered with Evonik Industries AG to enhance its specialty additives portfolio. With this partnership, Dow aimed to expand propylene glycol production capabilities and strengthen technological innovation in sustainable, bio-based chemical processes. Evonik Industries AG is a Germany-based specialty chemicals provider focusing on high-purity propylene glycol and catalytic process technologies for industrial, cosmetic, and personal care applications.

Major companies operating in the propylene glycol market are Dow Inc., LyondellBasell Industries, BASF SE, Shell plc, Exxon Mobil Corporation, Huntsman Corporation, SKC Co. Ltd., Asahi Kasei Corporation, LG Chem Ltd., Repsol S.A., PCC Group, Manali Petrochemicals Ltd., Reliance Industries Limited, PetroChina Company Limited, Shandong Shida Shenghua Chemical, Archer Daniels Midland Company, Cargill Incorporated, Oleon NV, Mitsui Chemicals, Inc., Formosa Plastics Corporation

Asia-Pacific was the largest region in the propylene glycol market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the propylene glycol market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the propylene glycol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The propylene glycol market consists of sales of propylene glycol USP, inhibited propylene glycol, reclaimed propylene glycol, and dowfrost glycol. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Propylene Glycol Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses propylene glycol market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for propylene glycol ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The propylene glycol market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Source: Petroleum-Based; Bio-Based
• 2) By Grade: Industrial Grade; Pharmaceutical Grade
• 3) By Application: Animal Feed; Inks; Lacquers; Tobacco Humectants; Varnishes
• 4) By End User: Building And Construction; Consumer Goods; Cosmetics And Personal Care; Food And Beverages; Paint And Coatings; Pharmaceuticals; Textile Industries; Tobacco; Transportation
• Subsegments:
• 1) By Petroleum-Based: Conventional Propylene Glycol; High Purity Propylene Glycol
• 2) By Bio-Based: Glycerol-Based Propylene Glycol; Fermentation-Based Propylene Glycol
• Companies Mentioned: Dow Inc.; LyondellBasell Industries; BASF SE; Shell plc; Exxon Mobil Corporation; Huntsman Corporation; SKC Co. Ltd.; Asahi Kasei Corporation; LG Chem Ltd.; Repsol S.A.; PCC Group; Manali Petrochemicals Ltd.; Reliance Industries Limited; PetroChina Company Limited; Shandong Shida Shenghua Chemical; Archer Daniels Midland Company; Cargill Incorporated; Oleon NV; Mitsui Chemicals, Inc.; Formosa Plastics Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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