The import of Propylene Glycol to India is on a steady upward trajectory. From 2024 to 2028, the forecast shows an annual growth starting from $114.03 million and increasing to $129.93 million by 2028. This marks a consistent annual growth, indicating a robust demand in various industrial and pharmaceutical sectors in India.
The Compound Annual Growth Rate (CAGR) over the five-year forecast period reveals an average annual increase of approximately 3.3%. In 2023, the import value stood at a substantial sum, marking a steady foundation for the subsequent years.
Future trends to watch include potential developments in the domestic production capabilities of Propylene Glycol, changes in import tariffs, and fluctuations in global oil prices, which could impact raw material costs and subsequently, the import values.
