Get the latest insights on price movement and trend analysis of Propylene Glycol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In the first quarter of 2025, Propylene Glycol prices in the USA showed a steady upward trend. Prices began increasing in late January, reflecting renewed purchasing activity and a more favorable demand outlook. This moderate rise continued throughout February and March as market participants adapted to stabilizing economic conditions and strong demand, particularly from the manufacturing and pharmaceutical sectors. While there were no significant spikes in demand, prices gradually increased, driven by consistent consumption patterns and a cautious approach to procurement.

During the first quarter of 2025, the propylene glycol prices in the USA reached 1560 USD/MT in March. The demand for propylene glycol from sectors including food processing, cosmetics, and pharmaceuticals has moderated, with buyers exercising caution in the face of inflationary worries and economic uncertainty. Prices are impacted by this poor demand picture, especially since many purchasers chose to use their current inventory rather than place new purchases.

Product	Category	Region	Price
Propylene Glycol	Petrochemicals	USA	1560 USD/MT
Propylene Glycol	Petrochemicals	China	890 USD/MT
Propylene Glycol	Petrochemicals	Germany	1290 USD/MT

Explore IMARC’s newly published report, titled “Propylene Glycol Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of propylene glycol pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

Propylene glycol prices fell to $920/MT in Dec 2024. Explore YoY trends, 2025 forecasts, and supply-demand insights from Expert Market Research.

The market was valued at USD 4,172 million in 2025 and is expected to reach USD 6,800 million by 2035, reflecting a compound annual growth rate (CAGR) of 5.0% over the forecast period.

Metric	Value
Market Size (2025E)	USD 4,172 million
Market Value (2035F)	USD 6,800 million
CAGR (2025 to 2035)	5.0%

Country-wise Outlook

Country	CAGR (2025 to 2035)
United States	4.7%

Country	CAGR (2025 to 2035)
United Kingdom	4.3%

Country	CAGR (2025 to 2035)
European Union	4.5%

Country	CAGR (2025 to 2035)
Japan	4.4%

Country	CAGR (2025 to 2035)
South Korea	4.6%

Competitive Outlook

Company Name	Estimated Market Share (%)
Dow Chemical Company	20-24%
BASF SE	15-19%
LyondellBasell Industries	12-16%
Huntsman Corporation	10-14%
Other Companies (Combined)	30-40%

The price of mono propylene glycol (MPG) in the USA reached 3272 USD/MT in June 2023.

Mono Propylene Glycol (MPG) Prices June 2023

Product	Category	Region	Price
Mono Propylene Glycol (MPG)	Petrochemicals	USA	3272 USD/MT
Mono Propylene Glycol (MPG)	Petrochemicals	China	175751 USD/MT
Mono Propylene Glycol (MPG)	Petrochemicals	Germany	3255 USD/MT

Explore IMARC’s newly published report, titled “Mono Propylene Glycol (MPG) Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of mono propylene glycol (MPG) pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

The upstream raw material propylene oxide price decreased throughout the second quarter in the North American region. The polypropylene Glycol price declined due to the region's reduced raw materials.

The Indian propylene glycol market expanded sharply to $1.5B in 2024, picking up by 6.6% against the previous year. In general, consumption posted strong growth. Propylene glycol consumption peaked in 2024 and is expected to retain growth in the immediate term.

Mono Propylene Glycol (MPG) Prices had erratic market sentiment in the North American region during the fourth quarter of 2022.

The global propylene glycol market size reached USD 4.5 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 6.3 Million by 2033, exhibiting a growth rate (CAGR) of 4.02% during 2025-2033. The escalating demand across the food and beverages, pharmaceuticals, and personal care industries, the rise in consumer awareness for health and hygiene, surging demand for eco-friendly solutions, rapid technological innovations, and growing end-use industries are factors shaping the market's trajectory.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 4.5 Million
Market Forecast in 2033	USD 6.3 Million
Market Growth Rate 2025-2033	4.02%

IMARC Group provides an analysis of the key trends in each segment of the global propylene glycol market report, along with forecasts at the global, regional and country levels from 2025-2033. Our report has categorized the market based on source, application, and end use industry.

The global propylene glycol market has been valued at US$ 4.66 billion in 2024, as revealed in the recently updated research study by Fact.MR. Worldwide sales of propylene glycol are analyzed to rise at a CAGR of 4.2% and reach US$ 7.03 billion by the end of 2034.

Report Attribute	Detail
Propylene Glycol Market Size (2024E)	US$ 4.66 Billion
Forecasted Market Value (2034F)	US$ 7.03 Billion
Global Market Growth Rate (2024 to 2034)	4.2% CAGR
South Korea Market Growth Rate (2024 to 2034)	6.7% CAGR
East Asia Market Share (2034F)	27.1%
Market Share of Bio-based Propylene Glycol (2034F)	74.7%
Key Companies Profiled	Chevron Phillips Chemical Company; Dow; ADEKA CORPORATION; Oleon NV; BASF SE; Royal Dutch Shell; Chaoyang Chemicals, Inc.; Sumitomo Chemical Co. Ltd.; AGC Chemicals; Exxon Mobil Corporation; Manali Petrochemical; China Petrochemical Corporation INEOS; SABIC; LyondellBasell Industries Holdings B.V.; Asahi Kasei Corporation; Huntsman International LLC.

Country-wise Insights

Attribute	United States
Market Value (2024E)	US$ 1.05 Billion
Growth Rate (2024 to 2034)	4.5% CAGR
Projected Value (2034F)	US$ 1.62 Billion

Attribute	China
Market Value (2024E)	US$ 648.8 Million
Growth Rate (2024 to 2034)	5.4% CAGR
Projected Value (2034F)	US$ 1.1 Billion

Attribute	Japan
Market Value (2024E)	US$ 349.7 Million
Growth Rate (2024 to 2034)	3.9% CAGR
Projected Value (2034F)	US$ 510.4 Million

Category-wise Insights

Attribute	Bio-based
Segment Value (2024E)	US$ 3.53 Billion
Growth Rate (2024 to 2034)	4.1% CAGR
Projected Value (2034F)	US$ 5.25 Billion

Attribute	Consumer Goods
Segment Value (2024E)	US$ 1.75 Billion
Growth Rate (2024 to 2034)	4.1% CAGR
Projected Value (2034F)	US$ 2.62 Billion

Discover the 2023 price trends of propylene glycol influenced by raw material costs, global economic conditions, and supply dynamics. Understand how geopolitical tensions, production changes, and sustainability practices impact this versatile chemical used across industries.

The Propylene Glycol Market report segments the industry into Grade (Industrial, Food and Beverage, Pharmaceutical), Application (Flavoring Agent, Antifreeze and Deicer Agent, Unsaturated Polyester Resins, Chemical Intermediates, Other Applications (Antioxidants, Household Care, etc.)), End-User Industry (Transportation, Building and Construction, Food and Beverages, Personal Care, Pharmaceuticals, and more), and Geography.

Mono Propylene Glycol Market size was valued at USD 4.60 Billion in 2023 and is projected to reach USD 6.99 Billion by 2031, growing at a CAGR of 4.6% during the forecast period 2024-2031.

Global Mono Propylene Glycol Market Drivers

The market drivers for the Mono Propylene Glycol Market can be influenced by various factors. These may include:

Increasing Demand in End-Use Industries: The pharmaceutical, food and beverage, cosmetic, and automotive industries are just a few of the businesses that use monopropylene glycol extensively. The demand for it is being driven by its uses as an emulsifier, solvent, and additive in various industries.

Growing Need for Antifreeze and Coolants: MPG is a vital component of antifreeze and coolant products, which are used in the automotive and transportation sectors. The need for MPG in these applications is rising because to rising vehicle production and the requirement for efficient temperature regulation.

Global Mono Propylene Glycol Market Restraints

Several factors can act as restraints or challenges for the Mono Propylene Glycol Market. These may include:

Price volatility for raw materials: Propylene oxide, a petrochemical product, is the main source of mono propylene glycol. Price instability can be caused by changes in the price of crude oil and disruptions in the supply chain, which can have a detrimental impact on production costs and profitability.

Environmental Concerns: The conventional method of producing MPG from petrochemical sources may have negative effects on the environment, including pollution and greenhouse gas emissions. Producers who depend on traditional methods may face challenges from regulatory efforts to promote sustainable practices and lower carbon footprints.

The propylene oxide prices in the United States for Q4 2023 reached 1305 USD/MT in December. The market was stable initially but fell as the quarter progressed due to lower feedstock propylene costs and weak energy prices. Additionally, despite subdued construction demand, commercial construction saw a rise in polyurethane procurement. Consumer spending remained robust, particularly in pharmaceuticals, driven by rising healthcare prices. Towards the quarter’s end, prices increased slightly due to higher shipping costs.

Propylene Oxide Prices December 2023

Product	Category	Region	Price
Propylene Oxide	Feedstock	USA	1305 USD/MT
Propylene Oxide	Feedstock	China	1307 USD/MT
Propylene Oxide	Feedstock	Europe	1625 USD/MT

Explore IMARC’s newly published report, titled “Propylene Oxide Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of propylene oxide pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

1,3 Propylene Glycol Market Outlook

The global 1,3 propylene glycol market size is projected to grow substantially from USD 2.3 billion in 2023 to an estimated USD 4.5 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.8% during the forecast period. This robust growth is driven by the increasing demand across various industrial sectors, particularly in pharmaceuticals, food and beverages, and automotive industries. The versatility of 1,3 propylene glycol as an intermediate chemical in numerous applications is a significant factor contributing to its market expansion.

One of the primary growth drivers of the 1,3 propylene glycol market is the rising demand for eco-friendly and sustainable products. The chemical industry is under increasing pressure to reduce its environmental footprint, and 1,3 propylene glycol, typically derived from renewable sources like glycerol, fits this trend perfectly. As governments worldwide implement stricter environmental regulations, industries are compelled to adopt greener alternatives, leading to higher adoption rates of 1,3 propylene glycol. Additionally, technological advancements in bioprocessing and the shift towards bio-based chemicals offer promising growth opportunities for this market.

The burgeoning pharmaceuticals sector is another significant growth factor for the market. 1,3 propylene glycol is widely used as a solvent and excipient in drug formulation, and its non-toxic nature makes it an ideal component in pharmaceutical products. With the global pharmaceutical industry witnessing exponential growth due to increased healthcare spending, the aging population, and the rise in chronic diseases, the demand for 1,3 propylene glycol is set to soar. Additionally, the ongoing research and development in drug delivery systems and formulations further bolster the market's growth prospects.

In the food and beverage industry, 1,3 propylene glycol serves as an additive, stabilizer, and moisture-preserving agent in various food products. The growing consumer preference for processed and convenience foods has led to an upsurge in demand for such additives, thereby driving the market for 1,3 propylene glycol. Moreover, the trend towards clean-label products, where manufacturers emphasize transparency and the use of fewer synthetic ingredients, is also propelling the demand for bio-based 1,3 propylene glycol in food applications. This shift aligns well with the increasing consumer awareness regarding health and wellness.

1,3-Butylene glycol, often used in the cosmetics and personal care industry, is gaining attention for its moisturizing properties and ability to improve skin texture. As consumers increasingly seek products that offer both efficacy and safety, 1,3-Butylene glycol is becoming a preferred ingredient in skincare formulations. Its role in enhancing the stability and shelf-life of cosmetic products aligns with the growing demand for high-performance personal care items. Furthermore, the trend towards natural and bio-based ingredients in the cosmetics industry is further driving the adoption of 1,3-Butylene glycol, as it is perceived as a safer alternative to traditional synthetic compounds.

Regionally, the market for 1,3 propylene glycol is witnessing significant growth across North America, Europe, and Asia-Pacific. North America holds a substantial share due to the presence of major pharmaceutical and food & beverage companies. Europe follows closely, driven by stringent environmental regulations and the growing demand for bio-based chemicals. In the Asia-Pacific region, rapid industrialization, urbanization, and the expanding automotive and construction sectors are key contributors to market growth. The region is expected to exhibit the highest CAGR during the forecast period, highlighting its immense potential for market players.

Grade Analysis

The 1,3 propylene glycol market is segmented by grade into Industrial Grade, Pharmaceutical Grade, and Food Grade. Industrial Grade 1,3 propylene glycol is primarily used in applications such as antifreeze, coolants, and industrial solvents. The growing industrial activities and the need for efficient cooling systems in various manufacturing processes are driving the demand for industrial-grade 1,3 propylene glycol. This segment is crucial for maintaining operational efficiency in manufacturing units, espec

Throughout Q1 2025, the propylene oxide (PO) market in North America showed a mixed trend. In January, prices edged up slightly as feedstock propylene costs tightened and restocking activity resumed post-holidays, despite soft construction-related demand and logistical disruptions from winter weather along the Gulf Coast. February saw prices decline due to weakened downstream demand from polyurethane, polyether polyols, and coatings, along with continued slowdowns in housing construction and industrial activity.

Explore the factors influencing propylene glycol prices including crude oil fluctuations, supply-demand dynamics, and geopolitical events. Understand the trends in price charts to make informed business and investment decisions in the chemical industry.

The Propylene Glycol Market size is expected to reach a valuation of USD 8.48 billion in 2033 growing at a CAGR of 6.5%. The Propylene Glycol market research report classifies market by share, trend, demand, forecast and based on segmentation.

The global propylene glycol market reached a market value of USD 5.05 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 4.34% to reach USD 6.78 billion by 2033. The market growth is primarily driven by the increasing demand from the food & beverage and pharmaceutical industries, coupled with the growing trend towards bio-based and sustainable products. Propylene glycol is widely used as a humectant, solvent, and antifreeze, making it an essential component in various food, cosmetic, and pharmaceutical products. The market is segmented by grade, source, end-use, and region. The pharmaceutical grade segment accounted for the largest share of the market in 2023, driven by the increasing demand for propylene glycol in the manufacture of drugs, pharmaceuticals, and medical products. The bio-based segment is expected to witness the highest growth rate during the forecast period due to the growing demand for sustainable and environmentally friendly products. The Asia Pacific region is projected to be the fastest-growing regional market, with China and India being the prominent contributors to the region's growth. Major industry players include LyondellBasell, BASF, Archer Daniels Midland, and Bio-chem Technology Group, among others. Recent developments include: , LyondellBasell Industries, a multinational chemical company headquartered in the Netherlands, plans to shut down its Houston refinery by the end of 2023. The decision has been made to reduce carbon dioxide emissions and focus the company on petrochemicals and plastics. The century-old refinery can process 268,000 barrels of heavy, high-sulfur crude oil per day into fuels, chemical feedstocks, and aromatics. The company is also launching circularity initiatives in the field of plastic waste., Two researchers from the University of Illinois at Chicago (UIC) have developed a longer-lasting alternative to conventional de-icers. They've developed a diverse family of over 80 ice-resistant bio-friendly coatings. To protect the metal surface, de-icing fluids are typically ethylene or propylene glycol-based fluids containing water, corrosion inhibitors, wetting agents, and dye. The new anti-freezing coatings, which are available in mixtures, non-aqueous emulsions-creams, and gels, are designed to withstand take-off shear forces and are also bio-friendly if washed into waterways.. Notable trends are: Rising demand for foods and beverages is boosting the propylene glycol market..