Asia Pacific Propylene Glycol Market Research Report 2025-2032
Propylene glycol is a synthetic organic compound used across various industries, including food, pharmaceuticals, cosmetics, automotive, and industrial applications. It functions primarily as a humectant, solvent, and preservative. The Asia Pacific propylene glycol market is witnessing steady growth, driven by increasing industrial demand and technological advancements in bio-based production.
Market Size & Growth Forecast
The Asia Pacific propylene glycol market was valued at US$ 2.14 billion in 2024 and is projected to reach US$ 2.86 billion by 2030, growing at a CAGR of 5.0% from 2024 to 2030.
Key Market Insights:
China leads the market, contributing 45% of the total revenue, followed by Japan (20%) and India (15%).
The food and beverage sector accounted for 35% of total consumption in 2023, followed by pharmaceuticals (25%) and cosmetics (20%).
The automotive sector witnessed a 7% increase in demand for propylene glycol-based antifreeze and coolants in 2023.
Bio-based propylene glycol production saw a 15% rise in capacity as sustainability initiatives gained traction.
Market Dynamics
Drivers:
Rising demand in pharmaceuticals and food industries.
Expanding use in automotive coolants and heat transfer fluids.
Increased production of bio-based propylene glycol.
Growth in e-cigarette production, driving 18% surge in PG demand for e-liquid formulations.
Restraints:
Fluctuations in raw material prices, particularly petroleum-based feedstocks.
Regulatory concerns surrounding environmental impact.
Opportunities:
Rising adoption of eco-friendly bio-based PG solutions.
Expansion of pharmaceutical and cosmetics applications, with a 10% increase in demand for USP-grade PG.
Challenges:
Compliance with strict environmental and safety regulations.
High production costs of bio-based PG.
Regional Analysis
The Asia Pacific propylene glycol market is driven by demand from multiple regions:
China (45%): The largest producer and consumer, with growing applications in food, cosmetics, and automotive industries.
Japan (20%): High demand for pharmaceutical and industrial-grade PG.
India (15%): Increasing consumption in personal care, pharmaceuticals, and e-liquids.
South Korea, Australia, Thailand, and Indonesia: Emerging markets with strong growth potential.
Competitive Landscape
Market Segmentation
By Application:
By Type:
FAQ
01. What is the current market size of the Asia Pacific propylene glycol market?
The market was valued at US$ 2.14 billion in 2024 and is projected to reach US$ 2.86 billion by 2030, with a CAGR of 5.0%.
02. Which are the key companies operating in the Asia Pacific propylene glycol market?
Key players include Dow Chemical, SKC Co., Ltd., Royal Dutch Shell Plc, BASF SE, LyondellBasell Industries, and Huntsman Corporation, among others.
03. What are the key growth drivers in the Asia Pacific propylene glycol market?
Increasing demand from the food, pharmaceutical, and automotive industries.
Growth in bio-based propylene glycol production.
Expanding e-cigarette industry, boosting demand for PG in e-liquid formulations.
04. Which regions dominate the Asia Pacific propylene glycol market?
China (45%), Japan (20%), and India (15%) are the leading markets in the region.
05. What are the emerging trends in the Asia Pacific propylene glycol market?
Rise in bio-based PG production.
Higher demand for USP-grade PG for natural formulations.
Increased use in e-cigarette formulations and automotive antifreeze solutions.
Competitor Analysis
The report also provides analysis of leading market participants including:
Key Points of this Report:
Reasons to Purchase this Report:
Table of Content:
1 Market Overview
1.1 Product Overview and Scope of Propylene Glycol
1.2 Segment by Type
1.2.1 Asia Pacific Market Size YoY Growth Rate Analysis by Type: 2023 VS 2030
1.2.2 By Source
1.2.3 Petroleum Propylene Glycol
1.2.4 Bio-Based Propylene Glycol
1.2.5 By Grade
1.2.6 Industrial Grade
1.2.7 Pharmaceutical Grade
1.2.8 Other
1.3 Segment by Application
1.3.1 Asia Pacific Market Size YoY Growth Rate Analysis by Application: 2023 VS 2030
1.3.2 Transportation
1.3.3 Building & Construction
1.3.4 Food & Beverage
1.3.5 Pharmaceuticals
1.3.6 Cosmetics & Personal Care
1.3.7 Others
1.4 Asia Pacific Market Growth Prospects
1.4.1 Asia Pacific Revenue Estimates and Forecasts (2019-2030)
1.4.2 Asia Pacific Production Estimates and Forecasts (2019-2030)
2 Asia Pacific Growth Trends
2.1 Industry Trends
2.1.1 SWOT
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