Propylene Glycol Market Size

Propylene Glycol Market size was valued at USD 6.03 billion in 2024 and is expected to cross USD 15.18 billion by the end of 2037, expanding at more than 7.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of propylene glycol is estimated at USD 6.39 billion. The growth of this market can be attributed owing to the rising automobile industry as propylene glycol sustain various application in the automotive industry for brake fluids, antifreeze, polyester compound, hydraulic fluid, and others. The automotive sector is growing owing to increasing transportation activities, along with growing industrialization and an established production base. According to the data, there were 101,233 new vehicle registrations in Australia in March 2022 compared to March 2021, which was an increase of 1.2%. With higher prospects for the automotive sector, the propylene glycol application is growing which is anticipated to drive the propylene glycol market in the forecast period.

Propylene glycol comes from the family of alcohol, and it is widely used in the construction industry in various applications such as solvents, polyester resins, paints & coating, and others. The construction industry worldwide is growing owing to infrastructural development, increasing urbanization trends, and growth in residential projects. As per the European Construction Industry Federation, construction activity increased by 11% in France in 2021 as compared to 2020. With growing construction activities worldwide, the application of propylene glycol in the construction sector seems to increase which in turn is expected to drive the global market in the forecast period.