Rising demand in the cosmetics & personal care industry is projected to fuel the growth of the Global Propylene Glycol Market at a CAGR of 5.9% during the forecast period 2024 to 2032

Market Research Future (MRFR) has published a cooked research report on the “Global Propylene Glycol Market” that contains information from 2018 to 2032.

The Global Propylene Glycol Market is estimated to register a CAGR of 5.9% during the forecast period of 2024 to 2032.

As per Market Research Future (MRFR) analysis the following companies as the key players in the Global Propylene Glycol Market—LyondellBasell Industries Holdings B.V., BASF, Orlen, Shell, The Archer-Daniels-Midland Company, ADEKA Corporation, Chaoyang Chemicals, Inc., Shandong Haike Chemical Group, Manali Petrochemicals Limited, AGC Inc., INEOS Group, Tongling Jintai Chemical Industry Co., Ltd, Acuro Organics Limited, Repsol S.A., and Meru Chem Pvt. Ltd among other key players.

Market Highlights

The Global Propylene Glycol Market is projected to grow at a CAGR of 5.9% in the forecast period, and the market is expected to reach US$ 5,280.8 million by 2032.

The role of propylene glycol as a solvent and carrier for various other ingredients is very crucial as it can efficiently dissolve as well as stabilize the active ingredients such as extracts, vitamins and fragrances in the product. This further improves the efficacy of cosmetics by enhancing the delivery of the ingredients to skin. The compound is also valued for its ability to impart non-greasy and smooth texture to cosmetic products, which is very important for products including creams and lotions. One of the crucial factors that is playing an important role in increasing usage of propylene glycol in cosmetics and personal care products is its non-toxic nature. The rapidly accelerating market of cosmetics and personal care, driven by growing consumer awareness and focus on following proper skincare routines is positively influencing the market growth of propylene glycol. The benefits of propylene glycol make it a key ingredient used in cosmetics products and with the growing knowledge of the consumers regarding skincare ingredients, the demand for products containing effective compounds such as propylene glycol is anticipated to witness substantial growth.

Also, the market is witnessing significant innovation as companies develop novel products to meet the changing market demands. One such example is ADM's EVO-100 USP-NF/FCC Propylene Glycol, which is a pharmacopeia-specifications-grade excipient of monopropylene glycol (PG or MPG) with a specified purity greater than 99.5%. This product is tested for compliance with the current United States Pharmacopeia (USP) and is widely used in the cosmetics and personal care industry. Thus, rising demand for cosmetics and personal care applications is expected to create significant growth opportunities for propylene glycol during the forecast period.

Europe is one of the major markets for cosmetics and personal care products where the companies are investing in R&D for creating innovative and high-performance products that can help them in gaining larger market share. Thus, the growth in this industry is ultimately favoring the market demand for propylene glycol. Moreover, over the last few years, India has seen significant growth in the personal care and cosmetics market. Numerous multinational brands have entered the Indian market, primarily aided by the dedicated support structure and their respective pricing strategies and thus the overall cosmetics market share is expected to grow to USD 20 billion by 2025 with a Compound Annual Growth Rate (CAGR) of 25%. Further, the global cosmetics industry is growing at 4.3% CAGR and is expected to reach USD 450 billion by 2025. Therefore, the rapid growth in cosmetics and personal care industry is anticipated to drive the demand for propylene glycol substantially in the estimated timeframe.

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Segment Analysis

Based on Source, Global propylene glycol market is categorized into petroleum-based and bio-based. In 2023, the petroleum based source segment accounted for 70.79% of the market revenue share. This segment is projected to maintain a Compound Annual Growth Rate (CAGR) of 5.4% in the forecast period. The growth of this segment is due to its cost-effectiveness and widespread availability. As a versatile compound, it is extensively used in pharmaceuticals, cosmetics, and industrial applications, offering consistent quality and performance. Its affordability compared to bio-based alternatives makes it attractive to manufacturers looking to optimize production costs. Additionally, the established infrastructure for petroleum-based propylene glycol ensures reliable supply and distribution.

Based on Grade, Global propylene glycol market is categorized into industrial grade and pharmaceutical grade. In 2023, the industrial grade segment dominated the market accounting for 58.92% of the market revenue share. This segment is projected to maintain a Compound Annual Growth Rate (CAGR) of 6.0% in the forecast period. Industrial-grade propylene glycol is experiencing growth due to its extensive applications in sectors such as automotive, construction, and manufacturing. Its properties as a solvent, antifreeze, and coolant make it valuable for various industrial processes. The increasing demand for efficient, reliable, and cost-effective solutions in these industries drives the need for industrial-grade propylene glycol. Additionally, advancements in production technologies and its ability to meet stringent performance standards contribute to its growing adoption.

Based on end-use industry, the global propylene glycol market is categorized into Food & Beverage, Cosmetics & Personal Care, Pharmaceutical, Transportation, Building & Construction, and others. In 2023, the cosmetics & personal care segment dominated the market with a significant market revenue share of 34.77%. The demand for propylene glycol in the cosmetic and personal care market is rising due to its multifunctional properties, such as acting as a moisturizer, solvent, and skin-conditioning agent. It effectively enhances the texture and stability of cosmetic formulations, ensuring better product consistency and performance. Its ability to dissolve active ingredients and improve absorption makes it a preferred choice for skincare and beauty products. Additionally, propylene glycol’s safety profile and compatibility with various ingredients drive its widespread use. As consumers increasingly seek high-quality, effective personal care products, the role of propylene glycol in meeting these demands continues to grow.

Regional Analysis

By Region, the global propylene glycol market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. In 2023, the Asia-Pacific region emerged as the dominant force in the global market, holding a substantial market revenue share of 33.97%. The region's expanding industrial base and increasing consumer market are key drivers. In industries such as pharmaceuticals, cosmetics, and food and beverages, propylene glycol is valued for its versatility and effectiveness as a solvent, moisturizer, and additive. Rapid urbanization and rising disposable incomes are boosting consumer demand for personal care and packaged food products, which in turn drives the need for propylene glycol. Additionally, the region's robust manufacturing sector is contributing to increased production and consumption of this compound. The shift towards more sustainable and bio-based alternatives is also prompting investment in local production facilities, enhancing supply and reducing costs.

Key Findings of the Study

• The global propylene glycol market is expected to reach 5,280.8 million by 2032, at a CAGR of 5.9% during the forecast period.


• The Asia Pacific region accounted for the largest market revenue share of 33.97% in 2023.


• Based on source, the petroleum-based segment dominated the global market with the largest revenue share of 70.79% in 2023.


• Based on grade, the industrial grade segment dominated the global market with the largest revenue share of 58.92% in 2023.


• Based on the end-use industry, the cosmetics & personal care segment dominated the market with the largest market revenue share of 34.77% in 2023.


• The global propylene glycol market key players include LyondellBasell Industries Holdings B.V., BASF, Orlen, Shell, The Archer-Daniels-Midland Company, ADEKA Corporation, Chaoyang Chemicals, Inc., Shandong Haike Chemical Group, Manali Petrochemicals Limited, AGC Inc., INEOS Group, Tongling Jintai Chemical Industry Co., Ltd, Acuro Organics Limited, Repsol S.A., and Meru Chem Pvt. Ltd.