U.S. benchmark and international crude benchmarks both fell as investors took profits following prior gains on the announcement of sweeping new U.S. sanctions targeting Iran. The 'Operation Economic Outcast' campaign imposes global sanctions with no exemption for China, creating uncertainty around Iranian oil flows. Prices remain volatile as markets assess whether the sanctions will successfully isolate Iran's energy sector or be circumvented.
Crude oil futures firmed amid firm spot demand, with both major global benchmarks edging higher in trade. Increased positioning by market participants reflected continued underlying demand support.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Propylene Glycol | China | FOB | USD 1,349.53/MT | July 2026 |
| Propylene Glycol | USA | CIF | USD 1,537.02/MT | July 2026 |
| Propylene Glycol | Germany | CIF | USD 1,483.16/MT | July 2026 |
| Propylene Glycol | India | CIF | USD 1,456.34/MT | July 2026 |
| Propylene Glycol | Japan | CIF | USD 1,382.53/MT | July 2026 |
| Propylene Glycol | China | FOB | USD 1,413.71/MT | June 2026 |
| Propylene Glycol | USA | CIF | USD 1,568.66/MT | June 2026 |
| Propylene Glycol | Germany | CIF | USD 1,535.20/MT | June 2026 |
| Propylene Glycol | India | CIF | USD 1,501.26/MT | June 2026 |
| Propylene Glycol | Japan | CIF | USD 1,446.56/MT | June 2026 |
Stay updated with the latest Propylene Glycol prices, historical data, and tailored regional analysis
Asia
In China, the prices of Propylene Glycol were ~USD 1,607.31/MT in April and ~USD 1,414.00/MT in June, showing a ~12.0% decrease. Chinese conditions strengthened initially as tight propylene glycol availability and elevated propylene oxide costs supported suppliers. The market reversed from late April as operating rates recovered, and feedstock costs declined. Weak unsaturated polyester resin and polyether demand intensified pressure through May and June. Supply tightening from maintenance provided temporary support, while exports surged and imports declined, preventing an even sharper fall. Higher-purity pharmaceutical and cosmetic grades remained comparatively stable.
Europe
In Germany, the prices of Propylene Glycol were ~USD 1,733.59/MT in April and ~USD 1,535.20/MT in June. Europe entered Q2 with severe supply tightness and sharply higher upstream olefin costs. April ethylene and propylene contract levels increased, raising propylene oxide production economics. However, panic buying faded as downstream consumption remained subdued and buyers resisted elevated offers. Improved petrochemical availability later in the quarter reduced replacement-cost pressure and supported the downward correction.
North America
In the United States, the prices of Propylene Glycol were ~USD 1,694.31/MT in April and ~USD 1,568.70/MT in June. A major PO/PG outage tightened early-quarter supply and restricted spot availability. Feedstock pressure subsequently eased as polymer-grade propylene contracts declined and spot propylene weakened sharply during May. Improving raw-material availability reduced PG manufacturing costs, while cautious industrial demand limited producers’ ability to sustain April increases.
Analyst Insight
According to Procurement Resource, in the near term, propylene glycol conditions are expected to remain soft to stable as improved supply and lower feedstock costs offset support from pharmaceutical-grade demand.
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Asia
In Asia, propylene glycol prices increased sharply during Q1’26 as higher propylene oxide and crude-linked feedstock costs lifted production expenses. China prices rose from ~USD 856.26/MT in January to ~USD 1,106.89/MT in March, showing a ~29.27% increase. India prices moved from ~USD 964.94/MT to ~USD 1,161.89/MT, up ~20.41%. Japan also recorded a strong gain, rising from ~USD 898.44/MT to ~USD 1,142.89/MT, a ~27.21% increase. The Strait of Hormuz closure raised concerns over crude, LPG, and petrochemical cargo movement into Asia, supporting higher feedstock and freight costs. Demand from resins, polyether, coatings, and antifreeze applications helped sustain the upward movement.
Europe
In Europe, propylene glycol prices increased during Q1’26 due to higher energy, freight, and feedstock costs. Germany prices rose from ~USD 977.91/MT in January to ~USD 1,188.89/MT in March, recording a ~21.57% increase. The Iran war and Strait of Hormuz closure raised crude and petrochemical supply concerns, which pushed replacement costs higher. Demand from resins, coatings, and industrial formulations remained steady, allowing suppliers to pass on higher costs.
North America
In North America, propylene glycol prices also moved upward in Q1’26. USA prices increased from ~USD 941.65/MT in January to ~USD 1,193.89/MT in March, reflecting a ~26.79% rise. Feedstock pressure from propylene and propylene oxide supported the increase, while global freight and energy risk lifted replacement values. Demand from antifreeze, cosmetics, resins, and industrial applications remained firm.
Propylene glycol is a colorless, odorless, and slightly sweet-tasting organic compound with the chemical formula C3H8O2. It is a type of alcohol and belongs to the class of diols. Propylene glycol is widely used in various industries due to its unique properties. It is a hygroscopic liquid, meaning it absorbs water from the air. This property makes it valuable as a humectant in products like cosmetics, food, and pharmaceuticals, helping to retain moisture and prevent drying.
Additionally, it has low toxicity and is considered safe for human consumption, leading to its usage as a food additive and in medicinal preparations. Propylene glycol also functions as a solvent in numerous applications, making it a versatile and widely employed chemical compound.
C3H8O2
Cosmetics and personal care items, Antifreeze and deicing fluid, Industrial coolant, Food additive and solvent, Chemical processing
Lyondell Basell Industries Holdings B.V., INEOS, BASF SE, Repsol, Dow
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
This process involves reacting hydrogen peroxide and propylene monomer to produce propylene oxide. Additionally, propylene glycol is created by hydrating the acquired product, propylene oxide.
In this process, propylene oxide is directly hydrolyzed with water to produce propylene glycol.
In this procedure, hypochlorous acid and propylene monomer react to form propylene chlorohydrin. Additionally, sodium hydroxide reacts with propylene chlorohydrin to produce propylene glycol.
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