The Global Petroleum-based Propylene Glycol Market was valued at USD 4.21 Billion in 2023 and is projected to reach USD 5.98 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.8% during the forecast period (2024–2030). This steady growth is fueled by robust demand from the pharmaceuticals, food and beverage, and cosmetics industries, alongside expanding applications in unsaturated polyester resins and antifreeze formulations.

As global industries seek versatile, high-performance chemical intermediates, petroleum-based propylene glycol remains a cornerstone due to its excellent solvency, low toxicity, and hygroscopic properties. In this blog, we profile the Top 10 Companies in the Petroleum-based Propylene Glycol Industry—a collection of chemical giants and specialty producers shaping the supply and innovation landscape.

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🔟 1. The Dow Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: Industrial Grade PG, Pharmaceutical Grade PG, USP/FCC Grade PG

Dow is a global leader in propylene glycol production, offering a wide range of grades to serve diverse industrial needs. Its extensive manufacturing footprint and robust supply chain ensure reliable delivery to customers in over 160 countries.

Strategic Initiatives:

• Investment in capacity expansion projects in the US Gulf Coast

• Focus on high-purity grades for pharmaceuticals and personal care

• Commitment to sustainable production processes and circular economy principles

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Petroleum-based Propylene Glycol Market – View in Detailed Research Report

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9️⃣ 2. LyondellBasell Industries

Headquarters: Houston, Texas, USA
Key Offering: Propylene Glycol Industrial, Propylene Glycol USP/FCC

As one of the world’s largest plastics, chemicals, and refining companies, LyondellBasell is a major producer of propylene oxide and its derivatives, including propylene glycol. Their vertically integrated operations provide a competitive advantage in the market.

Strategic Initiatives:

• Advanced PO/TBA (Propylene Oxide/Tert-Butyl Alcohol) technology for efficient production

• Global supply chain optimization to meet regional demand fluctuations

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8️⃣ 3. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Propylene Glycol Pharma Grade, Propylene Glycol Industrial Grade

BASF is a leading chemical company with a strong presence in the propylene glycol market, particularly in Europe and Asia. The company provides high-quality PG for applications ranging from antifreeze to food processing.

Strategic Initiatives:

• Expansion of integrated Verbund sites for cost-effective production

• Strong R&D focus on developing sustainable chemical solutions

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7️⃣ 4. Huntsman Corporation

Headquarters: The Woodlands, Texas, USA
Key Offering: JEFFOX Propylene Glycol, Industrial and USP Grades

Huntsman Corporation is a globally recognized producer of differentiated chemicals, including its JEFFOX brand of propylene glycols. The company serves a broad spectrum of industries with a focus on performance and reliability.

Strategic Initiatives:

• Strategic investments in specialty chemical portfolios

• Focus on high-value applications in aerospace and automotive composites

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6️⃣ 5. INEOS Oxide

Headquarters: Rolle, Switzerland
Key Offering: Propylene Glycol USP, Propylene Glycol Industrial

INEOS Oxide is a significant player in the European propylene glycol market, with manufacturing facilities across the continent. The company is known for its large-scale production capabilities and technical expertise.

Strategic Initiatives:

• Continuous process optimization for energy efficiency

• Expansion of commercial footprint in emerging Asian markets

Download FREE Sample Report:
Petroleum-based Propylene Glycol Market – View in Detailed Research Report

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5️⃣ 6. Repsol

Headquarters: Madrid, Spain
Key Offering: Propylene Glycol for Chemicals, Pharmaceuticals, and Food

Repsol, a leading energy and petrochemical company, produces propylene glycol at its complex in Tarragona, Spain. The company serves both the Iberian Peninsula and export markets with high-quality products.

Strategic Initiatives:

• Investment in digitalization and Industry 4.0 for operational excellence

• Commitment to sustainability through its 2050 Net Zero Emissions ambition

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4️⃣ 7. SKC

Headquarters: Seoul, South Korea
Key Offering: High-Purity Propylene Glycol, Electronic Grade PG

SKC is a major chemical producer in South Korea, with a strong focus on propylene glycol and its derivatives. The company has a significant market share in Asia and supplies PG for various high-tech applications.

Strategic Initiatives:

• Expansion into high-growth sectors like electric vehicle batteries

• Technological partnerships for innovative PG applications

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3️⃣ 8. Shell Chemicals

Headquarters: London, United Kingdom
Key Offering: Propylene Glycol for Industrial and Specialty Applications

Shell Chemicals produces propylene glycol as part of its broader oxides and derivatives business. Leveraging its integrated energy and chemicals portfolio, Shell supplies PG to global markets from strategically located facilities.

Strategic Initiatives:

• Focus on sustainable chemical production pathways

• Strong customer partnership model for tailored solutions

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2️⃣ 9. ADM (Archer Daniels Midland Company)

Headquarters: Chicago, Illinois, USA
Key Offering: Bio-based and Petroleum-based Propylene Glycol

While ADM is renowned for its bio-based propylene glycol, it also has a presence in the petroleum-based PG market through its diversified chemical portfolio. The company offers flexibility to customers seeking sourcing options.

Strategic Initiatives:

• Balanced portfolio approach between bio-based and conventional PG

• Investment in renewable chemical platforms

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1️⃣ 10. Global Bio-chem Technology Group

Headquarters: Hong Kong
Key Offering: Propylene Glycol, 1,3-Propanediol, and other biochemicals

Global Bio-chem is a leading bioscience company in Asia with significant production capabilities for propylene glycol. The company has pioneered fermentation technology for chemical production, including PG.

Strategic Initiatives:

• Pioneering integrated biorefinery concepts

• Expansion of biochemical product portfolio

Get Full Report Here:
Petroleum-based Propylene Glycol Market – View in Detailed Research Report

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🌍 Outlook: The Future of Petroleum-based Propylene Glycol Is Versatile and Evolving

The petroleum-based propylene glycol market is navigating a transformative phase. While traditional applications continue to drive volume, the industry is responding to sustainability trends, regulatory shifts, and emerging technological applications.

📈 Key Trends Shaping the Market:

• Increasing demand from the Asia-Pacific pharmaceutical and cosmetics sectors

• Growing competition from bio-based PG, driving innovation in conventional production

• Stringent regulatory standards for food-grade and pharmaceutical-grade PG

• Expansion of PG applications in liquid detergents and functional fluids

Get Full Report Here:
Petroleum-based Propylene Glycol Market – View in Detailed Research Report

The companies listed above are not only supplying essential chemical intermediates—they’re driving the innovation and sustainability of global industrial value chains.