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Is Propylene Glycol at Its Lowest Price Yet?

The propylene glycol market has experienced notable fluctuations over the past three years, influenced by various economic and industry-specific factors.

In 2021, the price of propylene glycol reached a peak, averaging over 15,000 RMB/ton. This surge was driven by strong demand across multiple sectors, including pharmaceuticals, food, and cosmetics, coupled with supply constraints.

The trend reversed in 2022, with prices steadily declining, particularly in the latter half of the year. By the end of 2022, prices had dropped to around 10,000 RMB/ton. This decrease was due to an easing of supply restrictions and a reduction in demand.

The year 2023 saw significant volatility, with prices remaining below the 10,000 RMB/ton mark. The market was characterized by an oversupply and inconsistent demand, leading to fluctuating prices throughout the year.

2024 Outlook:
The outlook for 2024 suggests a gradual recovery in the propylene glycol market. Key factors influencing this include:

1. Rising Demand: Sectors such as pharmaceuticals, food, and cosmetics are expected to drive demand, which could help stabilize prices.

2. Export Market Growth: Expanding export opportunities may alleviate domestic oversupply issues, supporting price stability.

3. Raw Material Costs: Fluctuations in raw material prices will impact production costs and market prices.
4. Environmental Regulations: Compliance with stricter environmental regulations could influence production costs and market dynamics. 

Best Time to Buy:
According to the price trends in 2023, June and July are projected to be the lowest points for propylene glycol prices within the year. This period presents the best opportunity for businesses to purchase propylene glycol. If you have needs in this area, please contact us for the best prices and services.

While the price of propylene glycol in 2024 is expected to remain volatile, there are signs of recovery and potential price increases. If you need to procure propylene glycol, please inquire and purchase promptly to minimize business costs. Chemsino is a sourcing of propylene glycol liquid in China. Contact us if need to get latest price.

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