Global Propylene Glycol Industry Outlook, 2027

The Global Propylene Glycol market accounted for $3.59 billion in 2018 and is expected to reach $5.97 billion by 2027, growing at a CAGR of 5.8% during the forecast period.

Factors such as the growing automotive industry in APAC, the eco-friendly production process of bio-based propylene glycol and increasing geriatric population across the world will escalate spending in the pharmaceutical sector are driving market growth. However, huge investment requirement in R&D for bio-based propylene glycol is hampering market growth.

Based on the end-user, Transportation is the significant-growing end-use industry due to the growing automobile sales. The increase in the use of propylene glycols in applications, such as aircraft deicing fluid, automotive coolants, and hydraulic & brake fluids, is also driving the propylene glycol market in the transportation industry.

By Geography, Asia Pacific is expected to have significant growth during the forecast period in terms of both volume and value. The increasing population in the region, accompanied by increasing construction spending in the developing markets of China, India, and South Korea, is projected to make this region an ideal destination for the propylene glycol industry.