프로필렌 글리콜 시장 : 시장 규모, 점유율, 동향, 산업 분석 보고서 - 등급별, 공급원별, 최종 사용자별, 지역별 시장 예측(2025-2034년)

The propylene glycol market size is expected to reach USD 7.31 Billion by 2034, according to a new study by Polaris Market Research. The report "Propylene Glycol Market Size, Share, Trends, Industry Analysis Report: By Grade (Pharmaceutical & Food Grade, Industrial Grade), By Source, By End User, By Region - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Propylene Glycol is a colorless, odorless, and slightly viscous liquid used as a solvent, humectant, and preservative in various industries. It is commonly found in food, pharmaceuticals, cosmetics, and industrial applications like antifreeze and de-icing solutions.

Propylene glycol is widely used in the pharmaceutical industry as a solvent and carrier for active pharmaceutical ingredients in syrups, injectables, creams, and capsules. The demand for medications is increasing rapidly with the growing global population, aging demographics, and rising prevalence of chronic diseases. Additionally, the rise in generic drug manufacturing and expanding healthcare access in emerging economies are boosting pharmaceutical production. Consequently, the need for safe, non-toxic, and approved excipients such as propylene glycol grows, thereby fueling the market growth.

Technological innovations in chemical processing have significantly improved the efficiency, safety, and environmental impact of propylene glycol production. Advanced manufacturing techniques now allow for better yield, lower energy consumption, and reduced waste generation. Moreover, the integration of AI and automation in chemical plants enables real-time monitoring and quality control, ensuring consistent product performance. These advancements reduce production costs and make it easier for companies to scale up operations. Technology improves the competitiveness of propylene glycol producers as technology continues to evolve, encouraging investment and expansion in the market.

Propylene Glycol Market Report Highlights

The pharmaceutical and food grade equipment segment is projected to expand at a CAGR of 4.2% during the forecast period, supported by growing health awareness, strict regulatory standards, and the rising consumption of processed food products and personal care items.

In 2024, the pharmaceutical segment held a notable 10.68% share of global revenue, driven by its essential role in delivering active pharmaceutical ingredients (APIs) across various drug formulations.

The Asia Pacific region dominated the global propylene glycol market in 2024, accounting for 37.29% of total revenue, primarily due to rapid industrial growth, urbanization, and strong demand from automotive, pharmaceutical, and food & beverage industries.

The North American market is forecasted to grow at a CAGR of 4.4% throughout the forecast period, fueled by steady demand across its mature and diverse automotive, pharmaceutical, and food processing sectors.

The global key market players are Adeka Corporation; Archer-Daniels-Midland Company; Asahi Glass Co., LTD.; BASF SE; Chaoyang Chemicals, Inc.; Dow Chemicals; Global Bio-Chem Technology Group Co., LTD.; Helm AG; Huntsman International LLC; INEOS Oxide Ltd.; LyondellBasell Industries Holdings B.V.; Royal Dutch Shell PLC; Sinopec; SKC; Sumitomo Chemicals; Temix Oleo S.R.L.

Polaris market research has segmented the propylene glycol market report based on grade, source, end user and region:

By Grade (Revenue - USD Billion; Volume - Kilotons; 2020-2034)

Pharmaceutical & Food Grade

Industrial Grade

By Source (Revenue - USD Billion; Volume - Kilotons; 2020-2034)

Petroleum-Based Propylene Glycol

Bio-Based Propylene Glycol

By End User (Revenue - USD Billion; Volume - Kilotons; 2020-2034)

Food and Beverage

Automotive

Personal Care and Cosmetics

Chemical

Pharmaceutical

Construction

Others

By Regional Outlook (Revenue - USD Billion; Volume- Kilotons; 2020-2034)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Australia

Rest of APAC

Latin America

Argentina

Brazil

Mexico

Rest of Latin America

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of MEA

Table of Contents

Chapter 1. Introduction

• 1.1 Report Description
  • 1.1.1 Objectives of the Study
  • 1.1.2 Market Scope
  • 1.1.3 Assumptions
• 1.2 Stakeholders

Chapter 2. Executive Summary

Chapter 3. Research Methodology

• 3.1 Overview
  • 3.1.1 Data Mining
• 3.2 Data Sources
  • 3.2.1 Primary Sources
  • 3.2.2 Secondary Sources

Chapter 4. Propylene Glycol Market Insights

• 4.1 Propylene Glycol - Industry snapshot
• 4.1 Propylene Glycol Market Dynamics
  • 4.1.1 Drivers and Opportunities
    • 4.1.1.1 Rising demand from automobile sector for antifreeze solutions
    • 4.1.1.2 Rising demand from end-use industries
  • 4.1.2 Restraints and Challenges
    • 4.1.2.1 Volatile raw material prices and shortage in supplies
• 4.2 Porter's Five Forces Analysis
  • 4.2.1 Bargaining Power of Suppliers (Medium)
  • 4.2.2 Threats of New Entrants: (Low to Medium)
  • 4.2.3 Bargaining Power of Buyers (High)
  • 4.2.4 Threat of Substitute (Medium to High)
  • 4.2.5 Rivalry among existing firms (High)
• 4.3 PEST Analysis
• 4.1 Propylene Glycol Market - Value Chain Analysis
• 4.2 Propylene Glycol Market - Covid Impact Analysis and Industry Trends

Chapter 5. Propylene Glycol Market Assessment by Grade

• 5.1 Introduction
• 5.2 Pharmaceutical & Food Grade
• 5.3 Industrial Grade

Chapter 6. Propylene Glycol Market Assessment by Source

• 6.1 Introduction
• 6.2 Petroleum-Based Propylene Glycol
• 6.3 Bio-Based Propylene Glycol

Chapter 7. Propylene Glycol Market Assessment by End-User

• 7.1 Introduction
• 7.2 Food and Beverage
• 7.3 Automotive
• 7.4 Personal Care and Cosmetics
• 7.5 Chemical
• 7.6 Pharmaceutical
• 7.7 Construction
• 7.8 Other End-Users

Chapter 8. Propylene Glycol Market Assessment by Region

• 8.1 Introduction
• 8.2 Propylene Glycol Market - North America
  • 8.2.1 Propylene Glycol Market - U.S.
  • 8.2.2 Propylene Glycol Market - Canada
• 8.3 Propylene Glycol Market - Europe
  • 8.3.1 Propylene Glycol Market - Germany
  • 8.3.2 Propylene Glycol Market - France
  • 8.3.3 Propylene Glycol Market - UK
  • 8.3.4 Propylene Glycol Market - Italy
  • 8.3.5 Propylene Glycol Market - Spain
• 8.4 Propylene Glycol Market - Asia Pacific
  • 8.4.1 Propylene Glycol Market - China
  • 8.4.2 Propylene Glycol Market - India
  • 8.4.3 Propylene Glycol Market - Japan
  • 8.4.4 Propylene Glycol Market - South Korea
• 8.5 Propylene Glycol Market - Latin America
  • 8.5.1 Propylene Glycol Market - Brazil
  • 8.5.2 Propylene Glycol Market - Mexico
  • 8.5.3 Propylene Glycol Market - Colombia
• 8.6 Propylene Glycol Market - Middle East & Africa
  • 8.6.1 Propylene Glycol Market - Saudi Arabia
  • 8.6.2 Propylene Glycol Market - UAE

Chapter 9. Competitive Landscape

• 9.1 Competitive Environment
• 9.2 Competitive Trends
• 9.3 Estimated Company Market Share Analysis, 2020

Chapter 10. Company Profiles

• 10.1 BASF SE
  • 10.1.1 Business Overview
  • 10.1.2 Financial Snapshot
  • 10.1.3 Products and Services
  • 10.1.4 Recent Developments
• 10.2 Global Bio-Chem Technology Group Co., LTD.
  • 10.2.1 Business Overview
  • 10.2.2 Financial Snapshot
  • 10.2.3 Products and Services
• 10.3 Dow Chemicals
  • 10.3.1 Business Overview
  • 10.3.2 Financial Snapshot
  • 10.3.3 Products and Services
  • 10.3.4 Recent Developments
• 10.4 Temix Oleo S.R.L.
  • 10.4.1 Business Overview
  • 10.4.2 Products and Services
• 10.5 Asahi Glass Co., LTD.
  • 10.5.1 Business Overview
  • 10.5.2 Financial Snapshot
  • 10.5.3 Products and Services
  • 10.5.4 Recent Developments
• 10.6 Sinopec
  • 10.6.1 Business Overview
  • 10.6.2 Financial Snapshot
  • 10.6.3 Products and Services
  • 10.6.4 Recent Developments
• 10.7 INEOS Oxide Ltd.
  • 10.7.1 Business Overview
  • 10.7.2 Financial Snapshot
  • 10.7.3 Products and Services
  • 10.7.4 Recent Developments
• 10.8 Sumitomo Chemicals
  • 10.8.1 Business Overview
  • 10.8.2 Financial Snapshot
  • 10.8.3 Products and Services
  • 10.8.4 Recent Developments
• 10.9 Chaoyang Chemicals, Inc.
  • 10.9.1 Business Overview
  • 10.9.2 Products and Services
• 10.10 SKC
  • 10.10.1 Business Overview
  • 10.10.2 Financial Snapshot
  • 10.10.3 Products and Services
• 10.11 TRInternational
  • 10.11.1 Business Overview
  • 10.11.2 Financial Snapshot
  • 10.11.3 Products and Services
• 10.12 Royal Dutch Shell PLC
  • 10.12.1 Business Overview
  • 10.12.2 Financial Snapshot
  • 10.12.3 Products and Services
• 10.13 Helm AG
  • 10.13.1 Business Overview
  • 10.13.2 Financial Snapshot
  • 10.13.3 Products and Services
  • 10.13.4 Recent Developments
• 10.14 LyondellBasell Industries Holdings B.V.
  • 10.14.1 Business Overview
  • 10.14.2 Financial Snapshot
  • 10.14.3 Products and Services
• 10.15 Adeka Corporation
  • 10.15.1 Business Overview
  • 10.15.2 Financial Snapshot
  • 10.15.3 Products and Services
• 10.16 Huntsman International LLC
  • 10.16.1 Business Overview
  • 10.16.2 Financial Snapshot
  • 10.16.3 Products and Services
• 10.17 Archer-Daniels-Midland Company
  • 10.17.1 Business Overview
  • 10.17.2 Financial Snapshot
  • 10.17.3 Products and Services
  • 10.17.4 Recent Developments