Propylene Glycol: Market Size & Forecast 2026

The global propylene glycol market sits at approximately USD 4.7 billion in 2025 (base year), held in a structurally tight balance between mature end-use demand in food, pharmaceutical, and personal care, a feedstock chain that is consolidating around fewer propylene oxide producers, and a 4.3 percent CAGR trajectory that reaches roughly USD 6.3 billion by 2032. Propylene oxide, the dominant upstream input, accounts for 65 percent of finished mono propylene glycol cost, and the INEOS acquisition of Sasol's propylene oxide assets in Q1 2025 has concentrated the supply chain further. Spot pricing for propylene glycol in the United States and Northeast Asia sits in the USD 1,450-1,607/MT band in Q2 2026, up 19-23 percent year-on-year, reflecting tight propylene oxide markets. Bio-based propylene glycol remains below 5 percent of global supply; the volume contribution is real but commerciall

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