Bio-Based Propylene Glycol Market Report Scope & Overview:

The Bio-Based Propylene Glycol Market Size was valued at USD 4.62 billion in 2023. It is projected to reach USD 6.58 billion by 2031 and grow at a CAGR of 4.35% over the forecast period 2024-2031.

The bio-based propylene glycol market is driven by growing environmental concerns with stringent regulations favoring sustainable alternatives. Growing consumer awareness regarding the benefits of bio-based products is driving demand. Technological advancements in biorefinery processes are enhancing production efficiency and reducing costs, further stimulating market expansion. Additionally, the versatility of bio-based propylene glycol across various industries, including cosmetics, food, and pharmaceuticals, is fueling its adoption and market growth. The increasing focus on reducing dependence on fossil fuels and mitigating climate change is spurring investment in renewable alternatives like bio-based propylene glycol, fostering market expansion.

Bio-Based Propylene Glycol Market Revenue Analysis

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Market Dynamics


  • Regulatory support for sustainable and renewable alternatives.

  • Growing consumer preference for eco-friendly products.

  • Increasing awareness of environmental and health benefits.

The rising awareness of environmental and health benefits propels the bio-based propylene glycol market forward as consumers and industries seek sustainable alternatives. Bio-based propylene glycol offers reduced environmental impact and lower toxicity compared to conventional counterparts, aligning with evolving societal values. This heightened awareness drives demand for eco-friendly products, positioning bio-based propylene glycol as a preferred choice and driving market expansion.


  • Limited production capacity and infrastructure for bio-based alternatives.

  • Initial higher costs of bio-based propylene glycol compared to conventional counterparts.

The higher initial costs of bio-based propylene glycol present a barrier to widespread adoption within the market. This cost disparity stems from factors like the need for specialized equipment and processes in bio-based production, as well as limited economies of scale. Overcoming this restraint requires continued innovation to streamline production processes, reduce costs, and enhance competitiveness against conventional counterparts, ultimately facilitating broader acceptance and market growth.


  • Emerging applications in pharmaceuticals, cosmetics, paint & Coatings, and food industries.

  • Rising investment in renewable energy and sustainable manufacturing.


  • Competition from well-established petrochemical-derived propylene glycol.

  • Variability in feedstock availability and quality

Impact of Russia-Ukraine War:

The Russia-Ukraine war disrupts the bio-based propylene glycol market in several ways. Firstly, Ukraine and Russia are major agricultural players who supply feedstock for this product. Disrupted supply chains from the war can lead to raw material shortages and price increases. Secondly, the war has caused a surge in energy prices, including natural gas, a key component in bio-based propylene glycol production. This can inflate production costs and potentially limit capacity. Thirdly, both countries are major fertilizer exporters, and the war restricts fertilizer availability. This impacts crop yields and potentially reduces feedstock for bio-based propylene glycol production. However, the war and its economic repercussions might shift consumer preferences towards sustainable products, potentially benefitting the bio-based propylene glycol market in the long term.

Impact of Economic Downturn:

During economic downturns, businesses and consumers tend to reduce their spending habits, leading to decreased demand for various products, including those containing bio-based propylene glycol. This shift in consumer behavior towards cost-saving measures can heighten price sensitivity, particularly concerning bio-based propylene glycol, which often commands a premium compared to its petroleum-derived counterpart. Economic slowdowns may result in reduced investments across industries, potentially affecting research and development efforts for bio-based propylene glycol production technologies. Furthermore, supply chain disruptions stemming from economic downturns can create challenges in sourcing raw materials or delivering finished bio-based propylene glycol products, impacting overall market dynamics and availability.

Market Segmentation:

By Application

  • Solvent

  • Chemical Intermediates

  • Unsaturated Polyester Adhesives

  • Antifreeze & Coolant

  • Others

By Application, the Antifreeze & Coolant segment held the largest revenue share of more than 35% in 2023 owing to the essential role of bio-based propylene glycol in safeguarding engine functionality across automotive, industrial, and commercial sectors. Its superior thermal conductivity and corrosion inhibition properties ensure optimal engine performance while meeting stringent environmental regulations. Moreover, the segment's dominance reflects the increasing demand for reliable and eco-friendly solutions in coolant formulations, driving the adoption of bio-based alternatives.

By End-User Industry

  • Food Processing

  • Building & Construction

  • Cosmetics

  • Automotive

  • Pharmaceuticals

  • Transportation

  • Detergent & Household

  • Marine

  • Others

The pharmaceuticals segment dominated the end-user industry segment of the bio-based propylene glycol market in 2023. This is attributed to propylene glycol's widespread utilization as a pharmaceutical excipient. Its versatility in formulations such as oral solutions, topical creams, and injectable drugs enhances drug stability and bioavailability. Moreover, the pharmaceutical industry's stringent quality standards and increasing preference for sustainable ingredients drive the adoption of bio-based propylene glycol, consolidating its position within this segment.

Bio-Based Propylene Glycol Market Segment Analysis

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Regional Analysis

North America dominated the Bio-Based Propylene Glycol Market with the highest revenue share of more than 40% in 2023. The region boasts advanced technological infrastructure and significant investments in research and development, facilitating widespread production and adoption of bio-based propylene glycol. Secondly, stringent environmental regulations and growing consumer awareness drive the demand for sustainable alternatives, further fueling market growth. Additionally, North America's diverse industrial landscape and strong presence of key market players contribute to its substantial revenue share in the bio-based propylene glycol market.

Asia Pacific is expected to grow at the highest CAGR in the Bio-Based Propylene Glycol Market during the forecast period. The region's burgeoning population and rapid industrialization drive increased demand for eco-friendly products. Secondly, supportive government initiatives promoting sustainable practices and investments in renewable technologies further propel market expansion. Additionally, rising consumer awareness and changing lifestyles contribute to the escalating adoption of bio-based propylene glycol in various end-user industries across the Asia Pacific region.


North America

  • US

  • Canada

  • Mexico


  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of the Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

    • Rest of Latin America

Key Players:

 BASF SE, The Dow Chemical Company, Huntsman International LLC., Oleon, Cargill, Temix International S.R.L., Ineos Oxide, Archer Daniels Midland Company, DuPont, Tate & Lyle, Ashland, Global Bio-Chem Technology Group Co., Ltd., ADM, SKC Co., Ltd., and Others.

Oleon-Company Financial Analysis

Recent Development:

  • In September 2023, Dow introduced a new line of propylene glycol (PG) solutions in Europe. These solutions are made from alternative, lower carbon, bio-based, and circular feedstocks. This innovation allows customers to produce end-products for various industries, including pharmaceuticals, agriculture, and food, while also providing validated sustainability benefits through a mass balance approach.

  • In September 2022, INEOS successfully launched its first sales of Propylene Glycol n-butyl Ethers (PnBs) in Antwerp after making a significant investment in its Antwerp facility. PnBs are widely used across multiple sectors due to their exceptional physical properties.

Bio-Based Propylene Glycol Market Report Scope:
Report Attributes Details
Market Size in 2023 USD 4.62 billion
Market Size by 2031 USD 6.58 billion 
CAGR 4.35%
Base Year 2023
Forecast Period  2024-2031
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Application (Solvent, Chemical Intermediates, Unsaturated Polyester Adhesives, Antifreeze & Coolant, and Others)
• By End-User Industry (Food Processing, Building & Construction, Cosmetics, Automotive, Pharmaceuticals, Transportation, Detergent & Household, Marine, and Others)
Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles BASF SE, The Dow Chemical Company, Huntsman International LLC., Oleon, Cargill, Temix International S.R.L., Ineos Oxide, Archer Daniels Midland Company, DuPont, Tate & Lyle, Ashland, Global Bio-Chem Technology Group Co., Ltd., ADM, SKC Co., Ltd.
Key Drivers • Regulatory support for sustainable and renewable alternatives.
• Growing consumer preference for eco-friendly products.
• Increasing awareness of environmental and health benefits.
Market Restraints • Limited production capacity and infrastructure for bio-based alternatives.
• Initial higher costs of bio-based propylene glycol compared to conventional counterparts.


Frequently Asked Questions

Ans. The Compound Annual Growth rate for the Bio-Based Propylene Glycol Market over the forecast period is 4.35%.

Ans. The projected market size for the Bio-Based Propylene Glycol Market is USD 6.58 billion by 2031.

Ans: The United States dominated the North America region in the Bio-Based Propylene Glycol Market with the highest revenue share in 2023.

Ans: The Bio-Based Propylene Glycol Market is primarily driven by increasing consumer preference for eco-friendly products and stringent regulations promoting sustainability.

Ans: One key challenge for the Bio-Based Propylene Glycol Market is competition from well-established petrochemical-derived propylene glycol, which may hinder market penetration and adoption.


1. Introduction

1.1 Market Definition
1.2 Scope
1.3 Research Assumptions

2. Industry Flowchart

3. Research Methodology

4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.4 Opportunities
4.4 Challenges

5. Impact Analysis
5.1 Impact of Russia-Ukraine War
5.2 Impact of Economic Slowdown
5.2.1 Introduction
5.2.2 Impact on major economies US Canada Germany France United Kingdom China Japan South Korea India

6. Value Chain Analysis

7. Porter’s 5 forces model

8. PEST Analysis

9. Average Selling Price
9.1 North America
9.2 Europe
9.3 Asia Pacific
9.4 Latin America
9.5 Middle East & Africa

10. Bio-Based Propylene Glycol Market Segmentation, By Application
10.1 Introduction
10.2 Trend Analysis
10.3 Solvent
10.4 Chemical Intermediates
10.5 Unsaturated Polyester Adhesives
10.6 Antifreeze & Coolant
10.7 Others

11. Bio-Based Propylene Glycol Market Segmentation, By End-User Industry
11.1 Introduction
11.2 Trend Analysis
11.3 Food Processing
11.4 Building & Construction
11.5 Cosmetics
11.6 Automotive
11.7 Pharmaceuticals
11.8 Transportation
11.9 Detergent & Household
11.10 Marine
11.11 Others

12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Eastern Europe Poland Romania Hungary Turkey Rest of Eastern Europe
12.3.2 Western Europe Germany France UK Italy Spain Netherlands Switzerland Austria Rest of Western Europe
12.4 Asia-Pacific
12.4.1 China
12.4.2 India
12.4.3 Japan
12.4.4 South Korea
12.4.5 Vietnam
12.4.6 Singapore
12.4.7 Australia
12.4.8 Rest of Asia Pacific
12.5 The Middle East & Africa
12.5.1 Middle East UAE Egypt Saudi Arabia Qatar Rest of the Middle East
12.5.2 Africa Nigeria South Africa Rest of Africa
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Colombia
12.6.4 Rest of Latin America

13 Company Profile
13.1 BASF SE

13.1.1 Company Overview
13.1.2 Financials
13.1.3 Product/Services Offered
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 The Dow Chemical Company
13.2.1 Company Overview
13.2.2 Financials
13.2.3 Product/Services Offered
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Huntsman International LLC.
13.3.1 Company Overview
13.3.2 Financials
13.3.3 Product/Services Offered
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 Oleon
13.4 Company Overview
13.4.2 Financials
13.4.3 Product/Services Offered
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Cargill
13.5.1 Company Overview
13.5.2 Financials
13.5.3 Product/Services Offered
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 Temix International S.R.L.
13.6.1 Company Overview
13.6.2 Financials
13.6.3 Product/Services Offered
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Ineos Oxide
13.7.1 Company Overview
13.7.2 Financials
13.7.3 Product/Services Offered
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 Archer Daniels Midland Company
13.8.1 Company Overview
13.8.2 Financials
13.8.3 Product/Services Offered
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 DuPont
13.9.1 Company Overview
13.9.2 Financials
13.9.3 Product/Services Offered
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 Tate & Lyle
13.10.1 Company Overview
13.10.2 Financials
13.10.3 Product/Services Offered
13.10.4 SWOT Analysis
13.10.5 The SNS View
13.11 Ashland
13.11.1 Company Overview
13.11.2 Financials
13.11.3 Product/Services Offered
13.11.4 SWOT Analysis
13.11.5 The SNS View
13.12 Global Bio-Chem Technology Group Co. Ltd.
13.12.1 Company Overview
13.12.2 Financials
13.12.3 Product/Services Offered
13.12.4 SWOT Analysis
13.12.5 The SNS View
13.13. ADM
13.13.1 Company Overview
13.13.2 Financials
13.13.3 Product/Services Offered
13.13.4 SWOT Analysis
13.13.5 The SNS View
13.14 SKC Co., Ltd.
13.14.1 Company Overview
13.14.2 Financials
13.14.3 Product/Services Offered
13.14.4 SWOT Analysis
13.14.5 The SNS View

14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Developments
14.3.1 Industry News
14.3.2 Company News
14.3.3 Mergers & Acquisitions

15. USE Cases and Best Practices

16. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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