Propylene Glycol Market Overview in INDIA
- Production & Imports: Manali Petrochemicals Limited (MPL) is the sole domestic producer of PG in India. However, the country remains a net importer, with demand growing at approximately 3.5% annually. No major capacity expansions have been announced, indicating continued reliance on imports to meet rising demand. Market Publishers
- Key Consumption Sectors:
- Pharmaceuticals: PG is widely used as a solvent in drug formulations. India’s pharmaceutical industry, valued at USD 65 billion in 2024, is projected to double by 2030, further boosting PG demand.
- Food Processing: Utilized as a food additive, PG’s demand aligns with the growth of India’s food industry.
- Polyester Resins: PG serves as a key raw material in manufacturing unsaturated polyester resins, essential in construction and automotive applications. Next Move Strategy ConsultingMordor Intelligence
🌱 Shift Towards Bio-Based Propylene Glycol
- Market Growth: The global bio-based PG market is projected to grow at a CAGR of 4.8%, reaching USD 7.96 billion by 2035. Dataintelo+2Future Market Insights+2prwireindia.com+2
- Drivers:
- Environmental Regulations: Stricter policies are encouraging industries to adopt sustainable, non-toxic alternatives like bio-based PG.
- Consumer Preferences: There’s a growing demand for eco-friendly products in sectors like cosmetics, pharmaceuticals, and automotive. Dataintelo+2GlobeNewswire+2prwireindia.com+2
🏗️ Infrastructure & Industrial Developments
- Major Projects: Haldia Petrochemicals Ltd plans a USD 10 billion oil-to-chemical project in Tamil Nadu, aiming to produce 3.5 million metric tons per year of ethylene and propylene by 2028-2029. This initiative seeks to enhance local production of specialty chemicals, reducing import dependence. Reuters+1Reuters+1
- Investment Outlook: India is expected to attract USD 87 billion in petrochemical investments over the next decade, with the sector projected to grow from USD 220 billion to USD 300 billion by 2025. Reuters
🔮 Future Outlook
India’s PG market is poised for robust growth, driven by expanding industries and a pivot towards sustainable alternatives. However, to meet the increasing demand and reduce import reliance, investments in domestic production capacities and sustainable technologies will be crucial.