프로필렌 글리콜 시장 : 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the propylene glycol market size is expected to grow from 4.98 million tons in 2025 to 5.36 million tons in 2026 and is forecast to reach 7.76 million tons by 2031 at 7.68% CAGR over 2026-2031.

This report is Segmented by Application (Flavoring Agent, Antifreeze and Deicer Agent, Unsaturated Polyester Resins, Chemical Intermediates, and Other Applications), End-User Industry (Transportation, Building and Construction, Food and Beverages, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). Market Forecasts are Provided in Terms of Volume (Tons).

Global Propylene Glycol Market Trends and Insights

Surging Demand from Food and Beverage Formulators

Regulatory recognition by the U.S. Food and Drug Administration under 21 CFR 184.1666 and the European Food Safety Authority's E1520 listing allows formulators to use propylene glycol without labeling hurdles, making it one of the few synthetic humectants accepted in mainstream and value formulations. Beverage-alcohol producers rely on the molecule to carry flavor concentrates and preserve mouthfeel in reduced-sugar products, while bakery manufacturers use it to retain moisture and lengthen shelf life in ambient distribution. The September 2024 addition of new PG derivatives to the Environmental Protection Agency Safer Chemical Ingredients List confirmed regulators' comfort with PG chemistry, and dairy processors across humid Asian markets now specify PG-based texture modifiers to prevent spoilage. Although premium organic brands still favor glycerin, mass-market products maintain high PG penetration in wet-snack and confectionery lines, resulting in a measurable 1.2 percentage-point lift to overall growth.

Growing Automotive Coolant and De-Icing Fluid Consumption

Electric-vehicle battery packs require thermal-management fluids that maintain cell temperatures between 15 °C and 35 °C, a specification that favors propylene glycol over ethylene glycol due to its lower toxicity and excellent low-temperature fluidity. Each battery electric vehicle consumes PG-based coolant during its lifetime, and incremental demand is substantial. Aviation safety norms also underpin growth, as Type I aircraft de-icing formulations depend on PG for freeze-point depression, and worldwide departures are projected to increase annually through 2030. Cold-climate markets in North America and Northern Europe account for a significant share of coolant volumes, but the Asia-Pacific region's share is rising as national carbon-neutrality mandates in China and South Korea accelerate commercial-fleet electrification.

Propylene-Oxide Price Volatility Linked to Crude Swings

Propylene oxide prices can fluctuate significantly within a single year because co-product credits and cracker run rates move in tandem with crude oil prices. When Brent drops beneath a certain threshold, naphtha crackers idle and propylene scarcity lifts PO prices, just as downstream demand weakens. Conversely, crude rallies encourage cracking, flooding the propylene pool, and compressing PO margins. Such instability forces buyers to hold larger inventories and erodes producer visibility.

Other drivers and restraints analyzed in the detailed report include:

1. Unsaturated Polyester Resin Growth in Composites and Construction
2. Bio-Based PG Capacity Build-Out in Asia Accelerates Adoption
3. Regulatory Scrutiny Over Residual Impurities in High-Dose Uses

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Unsaturated polyester resins accounted for 32.02% of the propylene glycol market size in 2025, as wind-turbine blades and corrosion-resistant infrastructure absorbed large volumes of resin. Vehicle electrification and aviation safety rules demand antifreeze and de-icing agents, while chemical intermediates such as propylene carbonate and dipropylene glycol underpin the production of polyurethane and surfactants. Personal-care intermediates grow at the fastest rate, with an 8.03% CAGR, as esters and ethers penetrate leave-on cosmetics.

More formulators now pay premiums for ISCC PLUS-certified bio-circular grades, especially in the personal care sector, whereas cost-sensitive UPR compounders adopt them only when green-building certifications are required. Semiconductor photoresist strippers rely on propylene glycol monomethyl ether, a niche product that commands a premium price due to its electronics-grade purity. The diversification of demand across specialty and commodity uses enables producers to hedge cyclical exposure; however, success hinges on solvent-purity investments and quick-change logistics for multi-grade portfolios.

Complete Report Scope:

• By Application
  • Flavoring Agent
  • Antifreeze and Deicer Agent
  • Unsaturated Polyester Resins
  • Chemical Intermediates
  • Other Applications (Antioxidants, Household Care, etc.)
• By End-user Industry
  • Transportation
  • Building and Construction
  • Food and Beverages
  • Personal Care
  • Pharmaceuticals
  • Other End-user Industries (Electronics, Paints and Coatings, etc.)
• By Geography
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN Countries
    • Rest of Asia-Pacific
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • Italy
    • France
    • Spain
    • Russia
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle-East and Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle-East and Africa

Geography Analysis

Asia-Pacific controlled 46.11% of the global propylene glycol market volume in 2025, driven by integrated propane dehydrogenation and PO chains in China, as well as export-oriented plants in Thailand. The Map Ta Phut site in Thailand, which has recently expanded, now ships ISCC PLUS-certified grades to Japan and South Korea. India is set to significantly increase its domestic capacity once Manali Petrochemicals gains operating consent, targeting high-margin food and pharmaceutical users. Yet the region's near-term margins remain pressured by under-utilized Chinese assets that weigh on spot prices.

The Middle-East and Africa are expected to record the fastest growth rate of 8.66% from 2026 to 2031, driven by Saudi Arabian projects that monetize refinery off-gases into propylene derivatives. Low ethane costs give regional producers an energy advantage that supports exports to Europe and India, although recent feedstock price adjustments have compressed margins.

North America represents a notable portion of demand, primarily driven by the United States' automotive, pharmaceutical, and beverage sectors. New propylene metathesis capacity at Channelview, Texas, promises feedstock flexibility, while EPA NESHAP rules could force consolidation among smaller players that lack capital for emission controls.

Europe accounts for a significant share of the global volume. The bloc's carbon-border measures and 2030 recycled-content targets accelerate bio-PG uptake, with ISCC PLUS-certified grades from Germany and Thailand filling premium channels. Electrically heated crackers, pilot-tested in Germany, hint at a future decarbonized propylene; however, their economics depend on carbon prices reaching certain thresholds.

South America holds a smaller share, led by Brazil's beverage and personal-care manufacturers. Limited local PO assets compel imports, which face duties and restrain growth, even though sugarcane ethanol and biodiesel glycerol present long-term bio-feedstock opportunities.

1. ADEKA Corporation
2. ADM
3. AGC Chemicals
4. BASF
5. Cargill, Incorporated.
6. Chaoyang Chemicals Inc.
7. Dow
8. Eastman Chemical Company
9. Global Bio-chem Technology Group Co. Ltd
10. Golden Dyechem
11. Huntsman International LLC
12. Indorama Ventures Public Company Limited.
13. INEOS
14. KLK Temix
15. Lonza
16. LyondellBasell Industries Holdings B.V.
17. Manali Petrochemicals Limited
18. Repsol
19. Shell plc
20. SKC Chemicals
21. Sumitomo Chemical Co., Ltd.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Surging demand from food and beverage formulators (GRAS status)
  • 4.2.2 Growing automotive coolant and de-icing fluid consumption
  • 4.2.3 Unsaturated polyester resin growth in composites and construction
  • 4.2.4 Bio-based PG capacity build-out in Asia accelerates adoption
  • 4.2.5 Direct propylene-oxide-to-PG catalytic routes cut unit costs
• 4.3 Market Restraints
  • 4.3.1 Propylene-oxide price volatility linked to crude swings
  • 4.3.2 Regulatory scrutiny over residual impurities in high-dose uses
  • 4.3.3 Looming oversupply from rapid Chinese capacity additions
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Degree of Competition

5 Market Size and Growth Forecasts (Volume)

• 5.1 By Application
  • 5.1.1 Flavoring Agent
  • 5.1.2 Antifreeze and Deicer Agent
  • 5.1.3 Unsaturated Polyester Resins
  • 5.1.4 Chemical Intermediates
  • 5.1.5 Other Applications (Antioxidants, Household Care, etc.)
• 5.2 By End-user Industry
  • 5.2.1 Transportation
  • 5.2.2 Building and Construction
  • 5.2.3 Food and Beverages
  • 5.2.4 Personal Care
  • 5.2.5 Pharmaceuticals
  • 5.2.6 Other End-user Industries (Electronics, Paints and Coatings, etc.)
• 5.3 By Geography
  • 5.3.1 Asia-Pacific
    • 5.3.1.1 China
    • 5.3.1.2 India
    • 5.3.1.3 Japan
    • 5.3.1.4 South Korea
    • 5.3.1.5 ASEAN Countries
    • 5.3.1.6 Rest of Asia-Pacific
  • 5.3.2 North America
    • 5.3.2.1 United States
    • 5.3.2.2 Canada
    • 5.3.2.3 Mexico
  • 5.3.3 Europe
    • 5.3.3.1 Germany
    • 5.3.3.2 United Kingdom
    • 5.3.3.3 Italy
    • 5.3.3.4 France
    • 5.3.3.5 Spain
    • 5.3.3.6 Russia
    • 5.3.3.7 Rest of Europe
  • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of South America
  • 5.3.5 Middle-East and Africa
    • 5.3.5.1 Saudi Arabia
    • 5.3.5.2 South Africa
    • 5.3.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share(%)/Ranking Analysis
• 6.4 Company Profiles (includes Global-level Overview, Market-level Overview, Core Segments, Financials, Strategic Info, Rank/Share, Products and Services, Recent Developments)
  • 6.4.1 ADEKA Corporation
  • 6.4.2 ADM
  • 6.4.3 AGC Chemicals
  • 6.4.4 BASF
  • 6.4.5 Cargill, Incorporated.
  • 6.4.6 Chaoyang Chemicals Inc.
  • 6.4.7 Dow
  • 6.4.8 Eastman Chemical Company
  • 6.4.9 Global Bio-chem Technology Group Co. Ltd
  • 6.4.10 Golden Dyechem
  • 6.4.11 Huntsman International LLC
  • 6.4.12 Indorama Ventures Public Company Limited.
  • 6.4.13 INEOS
  • 6.4.14 KLK Temix
  • 6.4.15 Lonza
  • 6.4.16 LyondellBasell Industries Holdings B.V.
  • 6.4.17 Manali Petrochemicals Limited
  • 6.4.18 Repsol
  • 6.4.19 Shell plc
  • 6.4.20 SKC Chemicals
  • 6.4.21 Sumitomo Chemical Co., Ltd.

7 Market Opportunities and Future Outlook

• 7.1 White-space and Unmet-need Assessment