Propylene Glycol Market Size

Statistics for the 2023 & 2024 Propylene Glycol market size, created by Mordor Intelligence™ Industry Reports. Propylene Glycol size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Propylene Glycol Industry

Propylene Glycol Market Summary
Study Period 2019 - 2029
Market Volume (2024) 4.09 Million tons
Market Volume (2029) 5.75 Million tons
CAGR (2024 - 2029) > 7.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia Pacific

Major Players

Propylene Glycol Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Propylene Glycol Market Analysis

The Propylene Glycol Market size is estimated at 4.09 Million tons in 2024, and is expected to reach 5.75 Million tons by 2029, growing at a CAGR of greater than 7% during the forecast period (2024-2029).

The COVID-19 pandemic had negatively impacted the market due to nationwide lockdowns, strict social distancing measures, and disruption in supply chains, which negatively affected the transportation, building, and construction end-user industries, thereby affecting the market for propylene glycol. However, the market recovered well after the restrictions were lifted. The market recovered significantly, owing to the rise in consumption of propylene glycol transportation and pharmaceuticals end-user industries.

  • The increasing demand from the food-processing and additives industry, the growing demand from the automotive industry, and the rising demand for solvents from various end-user industries are expected to drive the market for propylene glycol.
  • The health issues created by the high consumption of propylene glycol are expected to hinder the market's growth.
  • The development of industrial-scale direct synthesis methods for propylene glycol production is expected to create opportunities for the market during the forecast period.
  • The Asia-Pacific region is expected to dominate the market due to rising demand for propylene glycol in transportation, building and construction, and pharmaceutical end-user industries.

Propylene Glycol Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)