Global Propylene Glycol Market Size, Share, Trends, Industry Growth by Source (Petroleum Based, Bio Based), by Grade (Industrial Grade, USP Grade), by End-Use, by Region, and Forecast to 2028
Report ID: RCMA323 | Report Format: PDF + Excel | Starting Price: 2680/- USD |The global propylene glycol market size was valued at over USD 4 billion in 2021 and is expected to register a significant CAGR of around 6% during the forecast period from 2022 to 2028. The increasing use of the product in transportation as a coolant and the growing use as raw-material for de-icing panels are some major factors driving the market growth. Furthermore, the growing demand for the product in various industries such as food, beverages, pharmaceuticals, and construction is further anticipated to boost the market. Moreover, the rising utilization of the product in paints, coatings, and in aircraft de-icing fluids is anticipated to increase the demand for propylene glycol over the forecast period.
Global Propylene Glycol Market Attributes:
| Benchmark Year | 2022 | ||
| Market Size | ~ USD 4 Billion in 2021 | ||
| Market Growth (CAGR) | ~ 6% (2023-2030) | ||
| Largest Market Share | Asia Pacific | ||
| Analysis Period | 2020-2030 | ||
| Market Players | Dow, BASF SE, ADM, INEOS, Shell Plc, and Others |
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Market Segment Insights:
The global propylene glycol market is bifurcated into source, grade, end-use, and geography. On the basis of source, the market is further segmented into petroleum based and bio-based. The petroleum-based propylene glycol segment dominated the global market in 2021 and anticipated to hold the largest revenue share of over 2/3 market share by the end of the analysis period. On the flip side, the bio-based segment is estimated to grow at the fastest growth rate over the forecast period. The increasing adoption greener alternative due to low emission is a major factor to drive the segment growth over the forecast period.
On the basis of end-use, the market is segmented into food & beverages, pharmaceuticals, cosmetics & personal care, construction, transportation, and others. The construction segment dominated the global propylene glycol market in 2021 and estimated to hold the largest revenue share of over 1/3 market share. The widespread use of the product in construction industry as manufacturing resins & plastics, paints, coatings, and others is a factor to drive the segment growth. On the flip side, the transportation segment is accounted to register the highest CAGR over the forecast period due to the growing demand for fire-resistance brakes and hydraulic fluids.
The propylene glycol comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.
The propylene glycol market research report presents the analysis of each segment from 2019 to 2028 considering 2021 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2022 to 2028.
Historical & Forecast Period
- 2019-20 – Historical Year
- 2021 – Base Year
- 2022-2028 – Forecast Period
Global Propylene Glycol Market Segmentation:
Propylene Glycol Market Segmentation by Source:
- Petroleum Based
- Bio Based
Propylene Glycol Market Segmentation by Grade:
- Industrial Grade
- USP Grade
Propylene Glycol Market Segmentation by End-Use:
- Food & Beverages
- Pharmaceuticals
- Cosmetics & Personal Care
- Construction
- Transportation
- Others
Propylene Glycol Market Segmentation by Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Propylene Glycol Market: Geographic Coverage
On the basis of region, the Asia Pacific dominated the global propylene glycol market in 2021 and expected to maintain its dominance over the forecast period. The increasing construction activities in developing economies are one of the key factor to drive the market growth in the region. Furthermore, the growing demand for the product in various industries such as food, beverages, transportation, and others is further anticipated to fuel the market growth in the Asia Pacific.
Geographically, the propylene glycol market report comprises dedicated sections centering on the regional market revenue and trends. The propylene glycol market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The propylene glycol market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Propylene glycol market estimates have also been provided for the historical years 2019 & 2020 along with forecasts for the period from 2022 – 2028.
Propylene Glycol Market: Competitive Assessment
Some of the prominent market players operating in the global propylene glycol market are Dow, BASF SE, ADM, INEOS, and Shell Plc. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. For instance:
In September 2021, Dow and Shell announced the completion of the construction of their new joint venture plant in the United States to produce propylene oxide (PO) and derivatives, including propylene glycol. The new plant is expected to meet the growing demand for propylene glycol in various applications such as cosmetics, food, and pharmaceuticals.
In August 2021, BASF SE announced that it has increased the production capacity of its propylene glycol plant in Geismar, Louisiana, to meet the growing demand for propylene glycol in various applications such as unsaturated polyester resins, functional fluids, and antifreeze coolants.
In June 2021, Archer Daniels Midland (ADM) announced the expansion of its propylene glycol production capacity at its facility in Decatur, Illinois. The expansion is expected to meet the growing demand for propylene glycol in various applications, including food, pharmaceuticals, and personal care products.
In April 2021, LyondellBasell announced the acquisition of Zydeco Pipeline Company LLC, which operates a pipeline system that delivers propylene to customers in Louisiana, Texas, and Mississippi. The acquisition is expected to enhance LyondellBasell’s ability to serve customers in the propylene glycol market.
List of Key Companies:
- Dow
- BASF SE
- ADM
- INEOS
- Shell Plc
- Adeka Corporation
- Huntsman International LLC.
- LyondellBasell Industries Holdings B.V.
- DuPont Tate & Lyle Bio Products
- Temix Oleo
- INEOS Oxide
Key Questions Answered by Propylene Glycol Market Report
- Global propylene glycol market forecasts from 2022-2028
- Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
- Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
- Propylene glycol submarket forecasts from 2022-2028 covering the market by source, by grade, by end-use, and geography
- Various industry models such as SWOT analysis, Value Chain Analysis about the market
- Analysis of the key factors driving and restraining the growth of the global, regional, and country-level propylene glycol markets from 2022-2028
- Competitive Landscape and market positioning of top 10 players operating in the market
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions
2. Executive Summary
2.1. Global Propylene Glycol Market Portraiture
2.2. Global Propylene Glycol Market, by Source, 2021 (USD Mn)
2.3. Global Propylene Glycol Market, by Grade, 2021 (USD Mn)
2.4. Global Propylene Glycol Market, by End-Use, 2021 (USD Mn)
2.5. Global Propylene Glycol Market, by Geography, 2021 (USD Mn)
3. Global Propylene Glycol Market Analysis
3.1. Propylene Glycol Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis
4. Global Propylene Glycol Market By Source, 2019 – 2028 (USD Mn)
4.1. Overview
4.2. Petroleum Based
4.3. Bio Based
5. Global Propylene Glycol Market By Grade, 2019 – 2028 (USD Mn)
5.1. Overview
5.2. Industrial Grade
5.3. USP Grade
6. Global Propylene Glycol Market By End-Use, 2019 – 2028 (USD Mn)
6.1. Overview
6.2. Food & Beverages
6.3. Pharmaceuticals
6.4. Cosmetics & Personal Care
6.5. Construction
6.6. Transportation
6.7. Others
7. North America Propylene Glycol Market Analysis and Forecast, 2019 – 2028 (USD Mn)
7.1. Overview
7.2. North America Propylene Glycol Market by Source, (2019-2028 USD Mn)
7.3. North America Propylene Glycol Market by Grade, (2019-2028 USD Mn)
7.4. North America Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
7.5. North America Propylene Glycol Market by Country, (2019-2028 USD Mn)
7.5.1. U.S.
7.5.1.1. U.S. Propylene Glycol Market by Source, (2019-2028 USD Mn)
7.5.1.2. U.S. Propylene Glycol Market by Grade, (2019-2028 USD Mn)
7.5.1.3. U.S. Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
7.5.2. Canada
7.5.2.1. Canada Propylene Glycol Market by Source, (2019-2028 USD Mn)
7.5.2.2. Canada Propylene Glycol Market by Grade, (2019-2028 USD Mn)
7.5.2.3. Canada Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
8. Europe Propylene Glycol Market Analysis and Forecast, 2019 – 2028 (USD Mn)
8.1. Overview
8.2. Europe Propylene Glycol Market by Source, (2019-2028 USD Mn)
8.3. Europe Propylene Glycol Market by Grade, (2019-2028 USD Mn)
8.4. Europe Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
8.5. Europe Propylene Glycol Market by Country, (2019-2028 USD Mn)
8.5.1. Germany
8.5.1.1. Germany Propylene Glycol Market by Source, (2019-2028 USD Mn)
8.5.1.2. Germany Propylene Glycol Market by Grade, (2019-2028 USD Mn)
8.5.1.3. Germany Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
8.5.2. U.K.
8.5.2.1. U.K. Propylene Glycol Market by Source, (2019-2028 USD Mn)
8.5.2.2. U.K. Propylene Glycol Market by Grade, (2019-2028 USD Mn)
8.5.2.3. U.K. Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
8.5.3. France
8.5.3.1. France Propylene Glycol Market by Source, (2019-2028 USD Mn)
8.5.3.2. France Propylene Glycol Market by Grade, (2019-2028 USD Mn)
8.5.3.3. France Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
8.5.4. Italy
8.5.4.1. Italy Propylene Glycol Market by Source, (2019-2028 USD Mn)
8.5.4.2. Italy Propylene Glycol Market by Grade, (2019-2028 USD Mn)
8.5.4.3. Italy Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
8.5.5. Rest of Europe
8.5.5.1. Rest of Europe Propylene Glycol Market by Source, (2019-2028 USD Mn)
8.5.5.2. Rest of Europe Propylene Glycol Market by Grade, (2019-2028 USD Mn)
8.5.5.3. Rest of Europe Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
9. Asia Pacific Propylene Glycol Market Analysis and Forecast, 2019 – 2028 (USD Mn)
9.1. Overview
9.2. Asia Pacific Propylene Glycol Market by Source, (2019-2028 USD Mn)
9.3. Asia Pacific Propylene Glycol Market by Grade, (2019-2028 USD Mn)
9.4. Asia Pacific Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
9.5. Asia Pacific Propylene Glycol Market by Country, (2019-2028 USD Mn)
9.5.1. China
9.5.1.1. China Propylene Glycol Market by Source, (2019-2028 USD Mn)
9.5.1.2. China Propylene Glycol Market by Grade, (2019-2028 USD Mn)
9.5.1.3. China Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
9.5.2. Japan
9.5.2.1. Japan Propylene Glycol Market by Source, (2019-2028 USD Mn)
9.5.2.2. Japan Propylene Glycol Market by Grade, (2019-2028 USD Mn)
9.5.2.3. Japan Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
9.5.3. India
9.5.3.1. India Propylene Glycol Market by Source, (2019-2028 USD Mn)
9.5.3.2. India Propylene Glycol Market by Grade, (2019-2028 USD Mn)
9.5.3.3. India Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
9.5.4. Rest of Asia Pacific
9.5.4.1. Rest of Asia Pacific Propylene Glycol Market by Source, (2019-2028 USD Mn)
9.5.4.2. Rest of Asia Pacific Propylene Glycol Market by Grade, (2019-2028 USD Mn)
9.5.4.3. Rest of Asia Pacific Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
10. Latin America (LATAM) Propylene Glycol Market Analysis and Forecast, 2019 – 2028 (USD Mn)
10.1. Overview
10.2. Latin America Propylene Glycol Market by Source, (2019-2028 USD Mn)
10.3. Latin America Propylene Glycol Market by Grade, (2019-2028 USD Mn)
10.4. Latin America Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
10.5. Latin America Propylene Glycol Market by Country, (2019-2028 USD Mn)
10.5.1. Brazil
10.5.1.1. Brazil Propylene Glycol Market by Source, (2019-2028 USD Mn)
10.5.1.2. Brazil Propylene Glycol Market by Grade, (2019-2028 USD Mn)
10.5.1.3. Brazil Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
10.5.2. Mexico
10.5.2.1. Mexico Propylene Glycol Market by Source, (2019-2028 USD Mn)
10.5.2.2. Mexico Propylene Glycol Market by Grade, (2019-2028 USD Mn)
10.5.2.3. Mexico Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
10.5.3. Rest of Latin America
10.5.3.1. Rest of Latin America Propylene Glycol Market by Source, (2019-2028 USD Mn)
10.5.3.2. Rest of Latin America Propylene Glycol Market by Grade, (2019-2028 USD Mn)
10.5.3.3. Rest of Latin America Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
11. Middle East and Africa Propylene Glycol Market Analysis and Forecast, 2019 – 2028 (USD Mn)
11.1. Overview
11.2. MEA Propylene Glycol Market by Source, (2019-2028 USD Mn)
11.3. MEA Propylene Glycol Market by Grade, (2019-2028 USD Mn)
11.4. MEA Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
11.5. Middle East and Africa Propylene Glycol Market, by Country, (2019-2028 USD Mn)
11.5.1. GCC
11.5.1.1. GCC Propylene Glycol Market by Source, (2019-2028 USD Mn)
11.5.1.2. GCC Propylene Glycol Market by Grade, (2019-2028 USD Mn)
11.5.1.3. GCC Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
11.5.2. South Africa
11.5.2.1. South Africa Propylene Glycol Market by Source, (2019-2028 USD Mn)
11.5.2.2. South Africa Propylene Glycol Market by Grade, (2019-2028 USD Mn)
11.5.2.3. South Africa Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
11.5.3. Rest of MEA
11.5.3.1. Rest of MEA Propylene Glycol Market by Source, (2019-2028 USD Mn)
11.5.3.2. Rest of MEA Propylene Glycol Market by Grade, (2019-2028 USD Mn)
11.5.3.3. Rest of MEA Propylene Glycol Market by End-Use, (2019-2028 USD Mn)
12. Company Profiles
12.1. Dow
12.1.1. Business Description
12.1.2. Financial Health and Budget Allocation
12.1.3. Product Positions/Portfolio
12.1.4. Recent Development
12.1.5. SWOT Analysis
12.2. BASF SE
12.2.1. Business Description
12.2.2. Financial Health and Budget Allocation
12.2.3. Product Positions/Portfolio
12.2.4. Recent Development
12.2.5. SWOT Analysis
12.3. ADM
12.3.1. Business Description
12.3.2. Financial Health and Budget Allocation
12.3.3. Product Positions/Portfolio
12.3.4. Recent Development
12.3.5. SWOT Analysis
12.4. INEOS
12.4.1. Business Description
12.4.2. Financial Health and Budget Allocation
12.4.3. Product Positions/Portfolio
12.4.4. Recent Development
12.4.5. SWOT Analysis
12.5. Shell Plc
12.5.1. Business Description
12.5.2. Financial Health and Budget Allocation
12.5.3. Product Positions/Portfolio
12.5.4. Recent Development
12.5.5. SWOT Analysis
12.6. Adeka Corporation
12.6.1. Business Description
12.6.2. Financial Health and Budget Allocation
12.6.3. Product Positions/Portfolio
12.6.4. Recent Development
12.6.5. SWOT Analysis
12.7. Huntsman International LLC.
12.7.1. Business Description
12.7.2. Financial Health and Budget Allocation
12.7.3. Product Positions/Portfolio
12.7.4. Recent Development
12.7.5. SWOT Analysis
12.8. LyondellBasell Industries Holdings B.V.
12.8.1. Business Description
12.8.2. Financial Health and Budget Allocation
12.8.3. Product Positions/Portfolio
12.8.4. Recent Development
12.8.5. SWOT Analysis
12.9. DuPont Tate & Lyle Bio Products
12.9.1. Business Description
12.9.2. Financial Health and Budget Allocation
12.9.3. Product Positions/Portfolio
12.9.4. Recent Development
12.9.5. SWOT Analysis
12.10. Temix Oleo
12.10.1. Business Description
12.10.2. Financial Health and Budget Allocation
12.10.3. Product Positions/Portfolio
12.10.4. Recent Development
12.10.5. SWOT Analysis
12.11. INEOS Oxide
12.11.1. Business Description
12.11.2. Financial Health and Budget Allocation
12.11.3. Product Positions/Portfolio
12.11.4. Recent Development
12.11.5. SWOT Analysis
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