Global Isopropylene Glycol Market Size, Production, Sales, Average Product Price, Market Share

Global Isopropylene Glycol Market Revenue Size and Production Analysis, till 2032

Global Isopropylene Glycol Market Size is expected to grow at an impressive rate during the timeframe (2024-2032). Isopropylene Glycol demand is growing due to

1  Construction Industry: Propylene glycol is utilized in the production of building materials, including resins, plastics, paints, and coatings. The expansion of construction activities, particularly in regions like Asia-Pacific, has led to a higher demand for these materials.

2  Transportation Sector: In the automotive and aviation industries, propylene glycol serves as an engine coolant and a de-icing agent for aircraft. The growth of these sectors has increased the need for propylene glycol-based products.

3  Pharmaceuticals and Personal Care: Propylene glycol acts as a solvent and stabilizer in pharmaceuticals and is a common ingredient in cosmetics and personal care items due to its moisture-retaining properties. The rising consumer demand for these products contributes to the growing need for propylene glycol.

4  Food and Beverage Industry: As a food additive, propylene glycol helps maintain moisture and preserve food quality. The expanding food and beverage sector, driven by changing consumer preferences and increased urbanization, has led to greater utilization of propylene glycol.

United States Isopropylene Glycol Market Trend and Business Opportunities

Market Trends:

• Food and Beverage Industry: Propylene glycol serves as a humectant and stabilizer, maintaining moisture and texture in products like baked goods and processed foods. The expanding processed food sector and consumer preference for longer shelf life are boosting demand.
• Pharmaceuticals: Its solubilizing properties make propylene glycol essential in drug formulations, enhancing bioavailability and stability. Ongoing advancements in pharmaceuticals continue to drive its demand.
• Cosmetics and Personal Care: Used as a moisturizer and consistency enhancer in creams, lotions, and hair care products, the growing beauty and personal care industry fuels its demand.
• Automotive and Aviation: Propylene glycol functions as an antifreeze and deicing agent, crucial for vehicle and aircraft safety. The expanding transportation sector contributes to increased usage.

Market Projections:

• The U.S. propylene glycol market was valued at USD 467.9 million in 2022 and is expected to reach USD 751.8 million by 2030, growing at a CAGR of 6.1% from 2023 to 2030.
• The market is projected to exhibit a CAGR of 5.20% during 2024-2032.

Business Opportunities:

• Bio-Based Propylene Glycol: With rising environmental concerns, there’s a shift towards bio-based propylene glycol, offering opportunities for sustainable product development.
• Construction Industry: The use of propylene glycol in building materials presents growth prospects, especially with increasing construction activities.
• Regulatory Support: Stricter guidelines on chemical production encourage the adoption of bio-based products, opening avenues for compliant and eco-friendly propylene glycol applications.

Europe Isopropylene Glycol Market Trend and Business Opportunities by Country

Market Trends:

• Construction Industry: Propylene glycol is extensively used in manufacturing building materials such as resins, plastics, paints, and coatings. The resurgence of construction activities across Europe has amplified the demand for these materials.
• Transportation Sector: Serving as an antifreeze and de-icing agent, propylene glycol is vital in automotive and aviation applications. The expansion of the transportation sector has consequently increased its consumption.
• Pharmaceuticals and Personal Care: Due to its solvent properties and moisture retention capabilities, propylene glycol is a key ingredient in pharmaceuticals and personal care products. The growing consumer demand in these sectors further propels market growth.

Market Projections:

• Revenue Growth: The European propylene glycol market generated approximately USD 816.0 million in 2022 and is projected to reach USD 1,262.5 million by 2030, exhibiting a compound annual growth rate (CAGR) of 5.6% from 2023 to 2030.
• Country-Specific Insights:
  • United Kingdom: Expected to register the highest CAGR in the region from 2023 to 2030, indicating robust market potential.
  • Germany and France: These countries continue to be significant contributors to market revenue, driven by their strong industrial bases and demand in end-use industries.

Business Opportunities:

• Bio-Based Propylene Glycol: With increasing environmental concerns, there’s a shift towards bio-based propylene glycol, offering opportunities for sustainable product development.
• Emerging Markets: Countries like Turkey present immense growth opportunities due to industrialization and increasing demand in various sectors.
• Regulatory Support: Stricter guidelines on chemical production encourage the adoption of bio-based products, opening avenues for compliant and eco-friendly propylene glycol applications.

Middle East Isopropylene Glycol Market Trend and Business Opportunities by Country

Market Trends:

• Construction Industry: Propylene glycol is extensively used in manufacturing building materials such as resins, plastics, paints, and coatings. The resurgence of construction activities across the Middle East has amplified the demand for these materials.
• Transportation Sector: Serving as an antifreeze and de-icing agent, propylene glycol is vital in automotive and aviation applications. The expansion of the transportation sector has consequently increased its consumption.
• Pharmaceuticals and Personal Care: Due to its solvent properties and moisture retention capabilities, propylene glycol is a key ingredient in pharmaceuticals and personal care products. The growing consumer demand in these sectors further propels market growth.

Market Projections:

• Revenue Growth: The Middle East propylene glycol market is expected to grow during 2024-2030.
• Country-Specific Insights:
  • Saudi Arabia: Projected to register significant growth, driven by industrial expansion and increased demand in end-use industries.
  • United Arab Emirates (UAE): Anticipated to experience robust market growth due to advancements in construction and transportation sectors.
  • Qatar, Kuwait, Oman, Bahrain, and Turkey: These countries are expected to contribute to market revenue, supported by their growing industrial activities and demand for propylene glycol applications.

Business Opportunities:

• Bio-Based Propylene Glycol: With increasing environmental concerns, there’s a shift towards bio-based propylene glycol, offering opportunities for sustainable product development.
• Emerging Markets: Countries like Turkey present immense growth opportunities due to industrialization and increasing demand in various sectors.
• Regulatory Support: Stricter guidelines on chemical production encourage the adoption of bio-based products, opening avenues for compliant and eco-friendly propylene glycol applications.

Asia Pacific Isopropylene Glycol Market Trend and Business Opportunities by Country

Market Trends:

• Construction Industry: Propylene glycol is widely used in manufacturing building materials such as resins, plastics, paints, and coatings. The resurgence of construction activities across the Asia-Pacific region has amplified the demand for these materials.
• Transportation Sector: Serving as an antifreeze and de-icing agent, propylene glycol is vital in automotive and aviation applications. The expansion of the transportation sector has consequently increased its consumption.
• Pharmaceuticals and Personal Care: Due to its solvent properties and moisture retention capabilities, propylene glycol is a key ingredient in pharmaceuticals and personal care products. The growing consumer demand in these sectors further propels market growth.

Market Projections:

• Revenue Growth: The Asia-Pacific propylene glycol market is expected to reach approximately USD 3.19 billion by 2030, with a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030.
• Volume Growth: The market size is estimated at 4.09 million tons in 2024 and is projected to reach 5.75 million tons by 2029, growing at a CAGR of over 7% during the forecast period.

Country-Specific Insights:

• China: As the primary consumer market within the region, China accounts for more than 40% of global propylene glycol consumption. The country’s rapid industrialization and urbanization are key drivers of this demand.
• India: The Indian market is witnessing significant growth due to increasing applications in pharmaceuticals, cosmetics, and the automotive industry. The country’s expanding middle class and rising consumer spending contribute to this trend.
• Japan: Japan’s well-established automotive and electronics industries drive the demand for propylene glycol, particularly in applications like coolants and electronic components.
• Australia: The construction and mining sectors in Australia utilize propylene glycol in various applications, supporting market growth in the country.

Business Opportunities:

• Bio-Based Propylene Glycol: With increasing environmental concerns, there’s a shift towards bio-based propylene glycol, offering opportunities for sustainable product development.
• Emerging Markets: Countries like Indonesia, the Philippines, Thailand, and Malaysia present immense growth opportunities due to industrialization and increasing demand in various sectors.
• Regulatory Support: Stricter guidelines on chemical production encourage the adoption of bio-based products, opening avenues for compliant and eco-friendly propylene glycol applications.

Global Isopropylene Glycol Analysis by Market Segmentation

1. Source:

• Petroleum-Based Propylene Glycol: Derived from petrochemical feedstocks, this segment has traditionally dominated the market due to established production processes and widespread availability.
• Bio-Based Propylene Glycol: Produced from renewable resources like corn and soy, this segment is gaining traction owing to environmental concerns and a shift towards sustainable products. The bio-based segment is projected to hold approximately 74.7% of the market share by 2034.

2. Grade:

• Industrial Grade: Utilized in applications such as antifreeze, hydraulic fluids, and unsaturated polyester resins, this grade caters primarily to the automotive and construction sectors.
• Pharmaceutical (USP) Grade: Meeting stringent purity standards, this grade is essential in pharmaceuticals, cosmetics, food, and beverage industries.

3. End-Use Industry:

• Transportation: Propylene glycol is vital in manufacturing antifreeze and coolants. The transportation sector is the fastest-growing end-use industry, driven by increasing automotive production.
• Building & Construction: Employed in producing unsaturated polyester resins for construction materials, this sector significantly contributes to market demand.
• Food & Beverage: Serving as a humectant, solvent, and preservative, propylene glycol is widely used in processed foods and beverages.
• Pharmaceuticals and Cosmetics: Its role as a solvent and moisture-retaining agent makes it indispensable in drug formulations and personal care products.

4. Region:

• Asia-Pacific: Accounting for over 40% of global consumption, this region’s demand is propelled by rapid industrialization and urbanization, with China being the primary consumer market.
• North America: A significant exporter, particularly to the Asia-Pacific region, with the United States leading in production and export activities.
• Europe: Characterized by substantial demand in the automotive and construction industries, with Germany being a major contributor.

Isopropylene Glycol Production and Import-Export Scenario

Global Production:

• Capacity: In 2022, the global production capacity of propylene stood at approximately 150.3 million metric tons. This capacity is expected to expand, particularly with new plants anticipated in Asia and the Middle East.
• Major Producers: Leading producers include Dow Chemical, LyondellBasell, and SK Chemicals, with Dow Chemical being the largest producer as of the first half of 2022.

Import-Export Scenario:

• Exports: In 2022, global exports of propylene glycol amounted to $2.64 billion. Germany led the exports with $510 million, followed by China ($385 million), South Korea ($253 million), the United States ($242 million), and Thailand ($234 million).
• Imports: The top importers in 2022 were France ($172 million), Italy ($150 million), China ($144 million), India ($136 million), and Turkey ($108 million).

Regional Insights:

• Asia-Pacific: This region is the largest consumer, driven by rapid industrialization and urbanization, with China accounting for over 40% of global consumption.
• North America: The United States is a significant producer and exporter, benefiting from abundant feedstocks and advanced production technologies.
• Europe: Germany stands as the leading exporter, with a well-established chemical industry supporting its production capabilities.

Market Dynamics:

• Supply Glut: The global market faces oversupply challenges, particularly due to capacity expansions in China and the Middle East, leading to prolonged weak profit margins for producers in Europe and Asia.
• Sustainability Trends: There’s a growing shift towards bio-based propylene glycol production, driven by environmental concerns and regulatory support for sustainable products.

Market Scenario, Demand vs Supply, Average Product Price, Import vs Export, till 2032

• Global Isopropylene Glycol Market revenue and demand by region
• Global Isopropylene Glycol Market production and sales volume
• Import-export scenario
• Average product price
• Market player analysis, competitive scenario, market share analysis
• Business opportunity analysis

Key questions answered in the Global Isopropylene Glycol Market Analysis Report:

• What is the market size for Isopropylene Glycol?
• What is the yearly sales volume of Isopropylene Glycol and how is the demand rising?
• Who are the top market players by market share, in each product segment?
• Which is the fastest growing business/ product segment?
• What should be the business strategies and Go to Market strategies?

The report covers Isopropylene Glycol Market revenue, Production, Sales volume, by regions, (further split into countries): 

• Asia Pacific (China, Japan, South Korea, India, Indonesia, Vietnam, Rest of APAC)
• Europe (UK, Germany, France, Italy, Spain, Benelux, Poland, Rest of Europe)
• North America (United States, Canada, Mexico)
• Latin America (Brazil, Argentina, Rest of Latin America)
• Middle East & Africa

Table of Contents:

1. Product Overview and Scope of Isopropylene Glycol
2. Isopropylene Glycol Segment Analysis by Product Category
3. Global Isopropylene Glycol Revenue Estimates and Forecasts (2019-2032)
4. Global Isopropylene Glycol Production Estimates and Forecasts (2019-2032)
5. Market Competition by Manufacturers
6. Global Isopropylene Glycol Production by Manufacturers
7. Global Isopropylene Glycol Revenue Market Share by Manufacturers (2019-2023)
8. Production Analysis
9. Isopropylene Glycol Production, Revenue, Price and Gross Margin (2019-2024)
10. Isopropylene Glycol Production VS Export
11. Isopropylene Glycol Consumption VS Import
12. Consumption Analysis
13. Isopropylene Glycol Consumption by Region
14. Isopropylene Glycol Consumption by Product
15. Isopropylene Glycol Consumption Market Share by Product
16. Segment by Machine Type
17. Global Production of Isopropylene Glycol by Product (2019-2024)
18. Revenue Market Share by Product (2019-2024)
19. Production, Revenue, Price and Gross Margin (2019-2024)
20. Isopropylene Glycol Manufacturing Cost Analysis
21. Isopropylene Glycol Key Raw Materials Analysis
22. Key Raw Materials
23. Key Suppliers of Raw Materials
24. Proportion of Manufacturing Cost Structure
25. Isopropylene Glycol Industrial Chain Analysis
26. Marketing Channel, Distributors and Customers
27. Isopropylene Glycol Distributors List
28. Isopropylene Glycol Sales Partners
29. Isopropylene Glycol Customers List
30. Production and Supply Forecast