Propylene Glycol Price Trend and Forecast

Regional Market Overview

Get the latest insights on price movement and trend analysis of Propylene Glycol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Propylene Glycol Price Trend for the H1 of 2023

Asia

The Propylene Glycol market in the Asia-Pacific region witnessed extreme fluctuations in the first and second quarters of 2023. The prices were majorly affected by the low-cost support from the raw materials in the first few months.

However, in the subsequent months, the trend gained momentum with the improvement in the pharmaceutical and cosmetic sector in both domestic and international markets. But in the second quarter, the Indian government-imposed restrictions on the import of Propylene Glycol, which significantly impacted its price trend in the Asia-Pacific region.

Europe

The European market showcased a declining trajectory in terms of the prices of Propylene Glycol as the feedstock prices nosedived. In addition, from March, the supply chain in the region worked at its peak efficiency, ensuring the surplus availability of the product in the region while the demand from the pharmaceuticals and cosmetics sector subdued, and the region witnessed a low number of new orders. These factors, along with the cuts in the production rates, negatively influenced the Propylene Glycol market and thus led to a downward trajectory in the prices.

North America

In January, the prices of Propylene Glycol struggled with the falling prices of feedstock materials and fluctuating market sentiments. But from then, the consistent demand from the end-user industries helped the trend of Propylene Glycol to remain afloat, which eventually led to a decrease in the level of inventories, and the prices of Propylene Glycol rose sharply.

Additionally, the rising crude oil prices supported the feedstock prices, but in the latter months of the first quarter and throughout the second quarter, the downstream market struggled to maintain its demand dynamics, which led to the downfall in the prices.

Analyst Insight

According to Procurement Resource, the price trend of Propylene Glycol is expected to showcase a downward trajectory. The slow demand from the pharmaceuticals and cosmetics sectors will likely negatively impact the market.

Procurement Resource provides latest prices of Propylene Glycol. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.