Drugs Containing Excipient (Inactive Ingredient) PROPYLENE GLYCOL

Branded drugs containing PROPYLENE GLYCOL excipient, and estimated key patent expiration / generic entry dates

Company	Tradename	Ingredient	NDC	Excipient	Potential Generic Entry
Eli Lilly and Company	RETEVMO	selpercatinib	0002-3977	PROPYLENE GLYCOL	2039-04-10
Eli Lilly and Company	EVISTA	raloxifene hydrochloride	0002-4184	PROPYLENE GLYCOL
ER Squibb & Sons LLC	REYATAZ	atazanavir	0003-3624	PROPYLENE GLYCOL
Wyeth Pharmaceuticals LLC a subsidiary of Pfizer Inc	PROTONIX	pantoprazole sodium	0008-0843	PROPYLENE GLYCOL
Wyeth Pharmaceuticals LLC a subsidiary of Pfizer Inc	RAPAMUNE	sirolimus	0008-1030	PROPYLENE GLYCOL
Wyeth Pharmaceuticals LLC a subsidiary of Pfizer Inc	DUAVEE	conjugated estrogens/bazedoxifene	0008-1123	PROPYLENE GLYCOL	2027-03-10
Pharmacia & Upjohn Company LLC	CLEOCIN T	clindamycin phosphate	0009-3116	PROPYLENE GLYCOL

Generic drugs containing PROPYLENE GLYCOL excipient

Company	Ingredient	NDC	Excipient
Eli Lilly and Company	selpercatinib	0002-3977	PROPYLENE GLYCOL
Eli Lilly and Company	raloxifene hydrochloride	0002-4184	PROPYLENE GLYCOL
ER Squibb & Sons LLC	atazanavir	0003-3624	PROPYLENE GLYCOL
Wyeth Pharmaceuticals LLC a subsidiary of Pfizer Inc	pantoprazole sodium	0008-0843	PROPYLENE GLYCOL
Wyeth Pharmaceuticals LLC a subsidiary of Pfizer Inc	sirolimus	0008-1030	PROPYLENE GLYCOL
Wyeth Pharmaceuticals LLC a subsidiary of Pfizer Inc	conjugated estrogens/bazedoxifene	0008-1123	PROPYLENE GLYCOL
Pharmacia & Upjohn Company LLC	clindamycin phosphate	0009-3116	PROPYLENE GLYCOL

Market Dynamics and Financial Trajectory for Propylene Glycol

Last updated: February 20, 2026

What is the Current Market Size and Growth Rate?

The global propylene glycol (PG) market was valued at approximately USD 2.9 billion in 2022. It is projected to grow at a compound annual growth rate (CAGR) of 5.2% from 2023 through 2030, reaching an estimated USD 4.3 billion by 2030 (Grand View Research, 2023).

Key Market Drivers

• Expanding pharmaceutical applications, including oral, injectable, and topical drugs.
• Rising demand in cosmetics, personal care, and food industries due to PG’s moisturizing and preservative properties.
• Increasing adoption in industrial applications, such as antifreeze and hydraulic fluids.

Market Segments

Segment	Share (2022)	Growth Outlook	Key Applications
Pharmaceutical	35%	Growing with new formulations and delivery systems	Oral solutions, injectables, topical creams
Food & Beverages	25%	Steady growth driven by preservative use	Food additives, flavor carriers
Personal Care	20%	Rapid growth driven by skincare and cosmetics	Moisturizers, anti-aging products
Industrial	20%	Moderate growth, driven by automotive and chemical industries	Antifreeze, lubricants

Regional Market Analysis

Region	Market Share (2022)	CAGR (2023-2030)	Notable Trends
Asia-Pacific	45%	6.0%	Dominates due to manufacturing hubs in China, India; expanding pharmaceutical industry
North America	22%	4.5%	Growth driven by cosmetics and pharmaceuticals
Europe	20%	4.2%	Focus on sustainable production and regulatory compliance
Rest of World	13%	4.7%	Growing industrial applications

Regulatory and Supply Chain Factors

• Approval by agencies such as the US Food and Drug Administration (FDA) and European Medicines Agency (EMA) facilitates pharmaceutical use.
• Major producers include Dow Chemical and LyondellBasell, commanding roughly 60% of global supply.
• Supply chain disruptions, such as raw material shortages or logistics delays, impact pricing and availability.

Financial Trajectory and Market Competition

Company	Market Share (Approximate)	Financial Overview	Strategic Moves
Dow Chemical	30%	Revenue: USD 55 billion (2022); PG sales part of chemicals division	Investment in capacity expansion; sustainability initiatives
LyondellBasell	15%	Revenue: USD 50 billion (2022); PG segment growth focus	Capacity expansion; R&D in bio-based PG
BASF	10%	Revenue: USD 89 billion (2022); diversified excipients portfolio	Partnership with biotech firms; sustainable product development
Other regional and specialty companies	45%	Varying revenues and capacities	Focus on niche markets and bio-based PG production

Pricing Trends

• Price fluctuation correlates with crude oil prices, as propylene is derived from propane.
• From 2019 to 2022, prices ranged between USD 1.20 and USD 1.50 per kg.
• Recent escalation to USD 1.70 per kg in 2023 signifies supply constraints and raw material cost increases.

Strategic Factors Impacting Future Growth

• Increasing shift toward bio-based PG to meet sustainability standards.
• Regulatory hurdles delaying new approvals for certain pharmaceutical and food applications.
• R&D investments targeting higher purity grades and specialty formulations.
• Expansion in emerging markets driven by infrastructure development and healthcare investments.

Key Takeaways

• The propylene glycol market exhibits steady growth, fueled by pharmaceutical, food, personal care, and industrial applications.
• Asia-Pacific dominates the market, with a 45% share in 2022, and maintains the highest CAGR.
• Major companies lead with substantial market shares, investing heavily in capacity expansion and sustainability.
• Price sensitivity to crude oil prices remains a critical factor influencing profitability and supply stability.
• Regulatory dynamics and sustainability trends significantly influence R&D and production strategies.

FAQs

1. What are the main pharmaceutical uses of propylene glycol? They include solvent carrier in oral and injectable medications, and excipients in topical formulations.
2. How does bio-based PG affect the market? It meets rising sustainability standards, appeals to environmentally conscious sectors, but faces higher production costs.
3. What regions are expected to see the fastest growth? Asia-Pacific and Latin America due to expanding manufacturing and healthcare industries.
4. Are market prices for propylene glycol volatile? Yes, prices fluctuate with crude oil prices and raw material availability.
5. What regulatory challenges exist for PG producers? Approval procedures for pharmaceutical and food-grade PG can be lengthy, especially for bio-based variants.

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References

1. Grand View Research. (2023). Propylene glycol market size, share & trends analysis report.
2. LyondellBasell. (2022). Annual report.
3. Dow Chemical. (2022). Financial statements.
4. BASF. (2022). Sustainability report.
5. MarketsandMarkets. (2023). Food & beverage excipients market report.