[Latest] Global Propylene Glycol Market Size/Share Worth USD 7.03 Billion by 2034 at a 4.23% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth Rate, Value, SWOT Analysis)
Austin, TX, USA, July 17, 2025 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled 'Propylene Glycol Market Size, Trends and Insights By Source (Petroleum-based, Bio-based), By Grade (Industrial Grade, Pharmaceutical Grade, Others), By End-Use Industry (Transportation, Building & construction, Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034' in its research database.'According to the latest research study, the demand of global Propylene Glycol Market size & share was valued at approximately USD 4.66 Billion in 2024 and is expected to reach USD 5.01 Billion in 2025 and is expected to reach a value of around USD 7.03 Billion by 2034, at a compound annual growth rate (CAGR) of about 4.23% during the forecast period 2025 to 2034.'
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Overview
According to the CMI, industry experts believe that the global propylene glycol (PG) market can expect steady and sustained growth in the years to come. This movement has been sustained by a wide range of applications, which have started instilling interest in bio-alternatives. The chemical's versatility and safety make it an important component for a large number of end-use industries that include pharmaceuticals, food and beverage, personal care, automotive, and construction.
Growing environmental considerations and strict regulatory policies have pushed manufacturers to opt for bio-based production technologies to fulfill demand going into the future while also achieving sustainability targets. Nevertheless, the global PG market stands tall as a resilient and flexible segment within the specialty chemicals market.
Key Trends & Drivers
Versatile industrial applications: As a synthetic organic compound, propylene glycol finds many uses as an industrial solvent and humectant, preservative, and antifreeze. The versatility of application, being the strongest factor for the demand for this market, enhances the packaging industry, among many others. It is commonly used in the food industry to carry flavors and colors. In the pharmaceutical industry, it is used as a solvent in oral, injectable, and topical formulations. In personal care products, it acts as a humectant in lotions, creams, and shampoos. It is used industrially in antifreeze solutions, de-icing fluid, and HVAC coolants. This variety in applications keeps demand sustained, even in times of economic downturn.
Increasing Popularity of Bio-Based Propylene Glycol: Environmental sustainability and safe alternatives are driving the rise of interest in bio-based PG. Being made from renewable feedstock resources such as glycerin, corn, or soy, bio-based PG has a smaller carbon footprint than does petroleum-based PG. Much money is being invested by companies in R&D to scale up production and create more cost-effective production methods. Evidently, with growing consumer awareness regarding eco-labels and transparency in products, food, pharmaceutical, and cosmetic producers are starting to prefer renewable and biodegradable ingredients. This trend is expected to give a faster push to the bio-based PG segment rather than the conventional one.
Growth Prospects in Personal Care and Cosmetics: Given the roaring present-day personal care market, a surge in disposable incomes, urbanization, and changing lifestyles has been the motive behind the rapid growth of such industry. Propylene glycol is extensively used in skin and hair care formulations as texture enhancers or stabilizers, and humectants. With consumer demand for clean beauty products on the increase, companies are now renovating products that had harsh chemicals with bio-based PG. This trend of personal care brands in favour of PG will grow further while demand for cruelty-free and plant-based products hits an all-time high simply because of their non-toxic and non-irritating characteristics.
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The growing demand from pharmaceutical and food industries: Looking out for alternative solvents and carriers that are non-toxic and GRAS (Generally Recognized as Safe) makes PG one of the key ingredients in drug production; it is incorporated in oral and injectable drugs and topical medicines because it dissolves active ingredients well and maintains stability in the final product. Moving equivalently, PG finds a large area of use in food processing as a humectant and flavor carrier for processed foods, dairy products, and beverages. On account of an increase in pharmaceutical production and consumption of processed food all over the globe-mainly led by emerging markets such as India, China, and Brazil-demand for PG in these sectors shall continue to grow.
The construction and automotive industries: Propylene glycol (PG) has found quite a few important uses within the construction and automotive industries, being favored for its properties-from a chemical standpoint that include low toxicity, thermal stability, moisture retention, and so on. PG is preponderantly utilized in the construction sphere as a heat transfer fluid for HVAC systems and antifreeze solutions, for instance, in closed-loop heating and cooling applications. Owing to low corrosion and toxicity, PG is an excellent alternative to ethylene glycol for use in residential and commercial building systems where environmental and safety considerations are paramount. PG also finds use in construction materials for concrete curing, moisture control, etc., particularly in cold regions, where freezing prevents cracking and aids in maintaining the structural integrity of dry materials. Therefore, PG is commonly used in the automotive industry as an engine coolant and a de-icing solution.
Report Scope
Feature of the Report
Details
Market Size in 2025
USD 5.01 Billion
Projected Market Size in 2034
USD 7.03 Billion
Market Size in 2024
USD 4.66 Billion
CAGR Growth Rate
4.23% CAGR
Base Year
2024
Forecast Period
2025-2034
Key Segment
By Source, Grade, End-Use Industry and Region
Report Coverage
Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
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SWOT Analysis
Strengths: Propylene glycol enjoys the benefits of diversified uses across stable and regulated industries such as pharmaceuticals, food and beverage, and personal care. It being an approved chemical by such regulatory bodies as the FDA and EFSA aids its use in sensitive consumer products. Its manufacturing plants spread all over the world make distribution and supply reliable in the required areas. The increased acceptance of bio-based PG is, therefore, opening new market segments in line with worldwide sustainability targets.
Weaknesses: Although versatile, the market suffers from structural weaknesses. Conventional PG, synthesized from petroleum-based feedstock, is subject to crude oil cartelism in prices. Also, the environmental concerns associated with petrochemical production are posing an extra layer of scrutiny by regulators. Small- and medium-scale enterprises (SMEs) may be at a disadvantage in competing because of expensive capital investments required for technology upgrades and meeting compliance requirements. Also, the demand for low-price competitors such as ethylene glycol in certain industrial applications adds to the price pressure.
Opportunities: The bio-based PG subsegment shines as a golden window of growth. As industries move towards cleaner and sustainable production methods, companies investing in the manufacture of renewable PG can certainly gain an important chunk of market share. Emerging markets also present a rising opportunity as enhanced consumption of processed foods, pharmaceuticals, and personal care products creates new demand. There is also a scope for innovation in applications of PG-along with 3D printing materials or biodegradable plastics-that may provide brand-new opportunities for growth. Pooling resources with packaging and materials companies pursuant to circular economy principles could result in more PG applications.
Threats: Various outside factors threaten the PG market. Prices of raw materials ebb and flow, and plants operating under the shadow of geopolitical instability will interrupt supply chains and raise production costs. Stricter environmental regulations toward petrochemical derivatives can prevent consumer applications of petroleum PG from using petroleum-based PG. Increased competition from alternative solvents in the longer run, including the newer bio-based chemicals, also poses a threat. Public perception and consumer skepticism regarding chemical ingredients, more so in foods and cosmetics, might hit demand unless these are addressed through transparency and education.
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Key questions answered in this report:
What is the size of the Propylene Glycol market and what is its expected growth rate?
What are the primary driving factors that push the Propylene Glycol market forward?
What are the Propylene Glycol Industry's top companies?
What are the different categories that the Propylene Glycol Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Propylene Glycol market sample report and company profiles?
Key Offerings:
Market Share, Size & Forecast by Revenue | 2025−2034
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis
The Propylene Glycol Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
North America: North America holds a prominent share in the global propylene glycol market, driven by high demand across diverse industries such as food & beverage, pharmaceuticals, automotive, and cosmetics. The U.S. is the largest contributor, owing to the presence of major manufacturers, a mature industrial infrastructure, and advanced regulatory frameworks that support both petroleum-based and bio-based glycol production. Recent developments include capacity expansions, especially in sustainable or bio-based PG, due to increasing consumer preference for eco-friendly ingredients. The pharmaceutical and personal care sectors, in particular, are driving demand for high-purity pharmaceutical-grade PG in the region. Additionally, stringent quality and safety regulations in the food and drug sectors contribute to the consistent growth trajectory in North America.
Europe: Europe, as a mature market during the acquisition of PG, considers the environmental aspect, having increased queries for bio-based alternatives. Germany, France, and the Netherlands are spearheading the sustainability initiatives, urging the conversion of petroleum-based PG to renewable ones. Also, the significant presence of direct manufacturers of cosmetics and personal care products fuels the demand for PG of extremely high purity. The regional regulations under REACH and other chemical safety programs also affect the formulation and sourcing of products. Europe is an essential exporter of specialty-grade PG for the pharmaceutical and food processing industries; hence, the market is well integrated from both demand and supply perspectives.
Asia-Pacific: Asia-Pacific is the fastest developing region in the global PG market, with China and India being the largest contributors. Rapid industrialization, urbanization, and population growth increase demand in leading end-user sectors such as construction, automobiles, and the food and beverage industry. The regional market in China is held with a large industrial base, and the surging domestic demand and selling some PG derivatives as exports. India is increasingly turning to its demand in pharmaceuticals, personal care, and FMCG. Furthermore, the regional production capacity plus cost competitiveness is expected to be on a good pace due to higher investments into bio-PG and support from the government to the chemical industry. With further tightening of environmental regulations, Asia-Pacific is thus expected to witness propelled green production processes.
LAMEA (Latin America, Middle East, and Africa): The LAMEA region is an emerging market for PG, with food, pharmaceutical, and construction industries proving to have untapped potential. In Latin America, Brazil and Mexico are slowly increasing their domestic consumption of PG, primarily in food processing and industrial manufacturing. The Middle East, meanwhile, sees a slow but steady demand for PG in personal care, construction, and de-icing segments-all closely linked to the rapid infrastructure growth projects in the Gulf countries. In Africa, the market is still developing, but its growth will uncontrollably build on increasing investments in pharmaceuticals, FMCG products, and agrochemicals. The region already heavily depends on imports but is slowly waking up to the idea of local manufacturing and bio-based production, with sustainability tipping the scales.
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Browse the full 'Propylene Glycol Market Size, Trends and Insights By Source (Petroleum-based, Bio-based), By Grade (Industrial Grade, Pharmaceutical Grade, Others), By End-Use Industry (Transportation, Building & construction, Food & Beverage, Pharmaceuticals, Cosmetics & Personal Care, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2025–2034' Report at https://www.custommarketinsights.com/report/propylene-glycol-market/List of the prominent players in the Propylene Glycol Market:
Dow Inc.
BASF SE
LyondellBasell Industries Holdings B.V.
Huntsman Corporation
INEOS Oxide
Shell plc
ADM (Archer Daniels Midland Company)
Global Bio-Chem Technology Group Co. Ltd.
Repsol S.A.
SK picglobal
Manali Petrochemicals Limited
Royal Dutch Shell
Adeka Corporation
Sumitomo Chemical Co. Ltd.
Dairen Chemical Corporation
Zibo Haijie Chemical Co. Ltd.
HaiKe Chemical Group Ltd.
Lihong Fine Chemicals Co. Ltd.
Qingdao Shida Chemical Co. Ltd.
Sasol Limited
Others
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The Propylene Glycol Market is segmented as follows:
By Source
Petroleum-based
Bio-based
By Grade
Industrial Grade
Pharmaceutical Grade
Others
By End-Use Industry
Transportation
Building & construction
Food & Beverage
Pharmaceuticals
Cosmetics & Personal Care
Others
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Regional Coverage:
North America
U.S.
Canada
Mexico
Rest of North America
Europe
Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe
Asia Pacific
China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
This Propylene Glycol Market Research/Analysis Report Contains Answers to the following Questions.
Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Propylene Glycol Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Propylene Glycol Market? What Was the Capacity, Production Value, Cost and PROFIT of the Propylene Glycol Market?
What Is the Current Market Status of the Propylene Glycol Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Propylene Glycol Market by Considering Applications and Types?
What Are Projections of the Global Propylene Glycol Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Propylene Glycol Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Propylene Glycol Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Propylene Glycol Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Propylene Glycol Industry?
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Reasons to Purchase Propylene Glycol Market Report
Propylene Glycol Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Propylene Glycol Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Propylene Glycol Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Propylene Glycol Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.
Reasons for the Research Report
The study provides a thorough overview of the global Propylene Glycol market. Compare your performance to that of the market as a whole.
Aim to maintain competitiveness while innovations from established key players fuel market growth.
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What does the report include?
Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Propylene Glycol market analysis.
The competitive environment of current and potential participants in the Propylene Glycol market is covered in the report, as well as those companies' strategic product development ambitions.
According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
For each segment mentioned above, actual market sizes and forecasts have been given.
Who should buy this report?
Participants and stakeholders worldwide Propylene Glycol market should find this report useful. The research will be useful to all market participants in the Propylene Glycol industry.
Managers in the Propylene Glycol sector are interested in publishing up-to-date and projected data about the worldwide Propylene Glycol market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Propylene Glycol products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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Precision Medicine businessTelix received country-level approvals for Illuccix in France, Finland, Ireland, Sweden, Germany, Portugal, Greece, the Czech Republic, Belgium and Italy in Q2 and is launching on a market-by-market basis, as reimbursement is secured. Telix has completed enrolment of the Illuccix China Phase 3 study6, which will be used to file a marketing authorization in China in Q4 2025. Telix has received HREC approval in Australia and filed an IND with the FDA in the U.S. for a Phase 3 clinical trial aimed at expanding the label indication for Illuccix and Gozellix. The BiPASS study7 will evaluate the performance of MRI8 combined with PSMA PET9 imaging for detection and diagnosis of prostate cancer, which is designed to reduce the need for invasive biopsies. Telix has submitted a Prior Approval Supplement (PAS) to update the U.S. Prescribing Information for Illuccix. The proposed label expansion includes patient selection for radioligand therapy (RLT) in the pre-taxane setting. The prescribing information is expected to be updated, following FDA's review of the submission10. As part of product lifecycle management strategy, Telix announced a novel PET11 radiochemistry solution based on fluorine-18 (18F)-aluminium fluoride (AlF), branded AlFluor™12. The platform technology enables flexible radiolabeling of PSMA13 with either AlF or gallium-68 (68Ga). As part of the platform's development, Telix signed a strategic agreement with University Hospital Ghent and Ghent University for a novel [18F]AlF-PSMA-11 targeting agent, including extensive clinical data to enable a U.S. registration trial. Pixclara®14 (TLX101-CDx, 18F-floretyrosine or 18F-FET): A successful Type A meeting was held with the FDA on 24 June 2025, to agree on a path forward for resubmitting the New Drug Application (NDA) for Telix's brain cancer imaging candidate. Zircaix®15 (TLX250-CDx, 89Zr-DFO-girentuximab): The Company continues to progress a Biologics License Application (BLA) with the FDA for its kidney cancer PET imaging candidate. The PDUFA16 date remains 27 August 2025. Telix Manufacturing Solutions (TMS) Telix announced its Good Manufacturing Practice (GMP) manufacturing facility in Yokohama, Japan. Telix's first cyclotron facility in the Asia Pacific region represents a significant milestone in the Company's global manufacturing strategy. It will serve as a hub for commercial and clinical drug product supply, and future research and development in the region. The TMS facility in Brussels South (Seneffe), Belgium, produced its first GMP commercial radiopharmaceutical doses, marking the formal launch of Telix's radiopharmaceutical manufacturing capability in Europe. Corporate update Telix has received a subpoena from the U.S. Securities and Exchange Commission (SEC) seeking various documents and information primarily relating to the Company's disclosures regarding the development of the Company's prostate cancer therapeutic candidates. The Company is fully cooperating with the SEC and is in the process of responding to the information request. At this stage, this matter is a fact-finding request. The Company has elected to notify the Australian Securities and Investments Commission of the SEC's information request. Telix's policy is not to discuss any details of an ongoing regulatory inquiry. The information request from the SEC does not mean that Telix or anyone else has violated United States federal securities laws or that the SEC has a negative opinion of any person, entity or security. We cannot predict when this matter will be resolved or what (if any) action the SEC may take following the conclusion of this investigation. While the matter is ongoing, Telix will continue with its clinical development programs relating to its prostate cancer therapy candidates, in the ordinary course of business. The information request does not extend to Telix's commercial and late-stage precision medicine products including Illuccix, Gozellix, Zircaix, Pixclara and Scintimun®. FY 2025 guidance Telix confirms FY 2025 revenue guidance of $770 million to $800 million17. Guidance reflects revenue from Illuccix sales in jurisdictions with a marketing authorization, and 11 months of revenue contribution from RLS18. Telix confirms research and development (R&D) expenditure guidance, expecting a year-over-year increased investment range for FY 2025 of 20% to 25% compared to FY 2024. Guidance disclaimer The stated revenue guidance is based on expected global and domestic economic conditions and is subject to known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially. As such, investors are cautioned not to place undue reliance on this guidance and in particular Telix cannot guarantee a particular result. In compiling financial forecasts, a number of key variables that may have a significant impact on guidance have been identified and are listed below. Key variables that could cause actual results to differ materially include: the success and timing of research and development activities; decisions by regulatory authorities regarding approval of our products as well as their decisions regarding label claims; competitive developments affecting our products; the ability to successfully market new and existing products; difficulties or delays in manufacturing; trade buying patterns and fluctuations in interest and currency exchange rates; legislation, regulation, or policy that affects product production, distribution, pricing, reimbursement, access or tax; acquisitions and divestitures; research collaborations; litigation or government investigations; and Telix's ability to protect its patents and other intellectual property. See the Legal Notices section below for additional information, risks and assumptions. About Telix Pharmaceuticals Limited Telix is a biopharmaceutical company focused on the development and commercialization of therapeutic and diagnostic radiopharmaceuticals and associated medical technologies. Telix is headquartered in Melbourne, Australia, with international operations in the United States, Brazil, Canada, United Kingdom, Europe (Belgium and Switzerland), and Japan. Telix is developing a portfolio of clinical and commercial stage products that aims to address significant unmet medical needs in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX) and the Nasdaq Global Select Market (NASDAQ: TLX). Telix's prostate imaging product, gallium-68 (68Ga) gozetotide injection (also known as 68Ga PSMA-11 and marketed under the brand name Illuccix®), has been approved by the FDA19, and in multiple markets globally. Gozellix® (kit for the preparation of gallium-68 (68Ga) gozetotide injection) has been approved by the FDA20. Telix's osteomyelitis (bone infection) imaging agent, technetium-99m (99mTc) besilesomab, marketed under the brand name Scintimun®, is approved in 32 European countries and Mexico. Telix's miniaturized surgical gamma probe, SENSEI®, for minimally invasive and robotic-assisted surgery, is registered with the FDA for use in the U.S. and has attained a Conformité Européenne (CE) Mark for use in the European Economic Area. No other Telix product has received a marketing authorization in any jurisdiction. Visit for further information about Telix, including details of the latest share price, ASX and U.S. Securities and Exchange Commission (SEC) filings, investor and analyst presentations, news releases, event details and other publications that may be of interest. You can also follow Telix on LinkedIn, X and Facebook. Telix Investor Relations (Global)Ms. Kyahn WilliamsonTelix Pharmaceuticals LimitedSVP Investor Relations and Corporate CommunicationsEmail: Telix Investor Relations (U.S.)Annie KasparianTelix Pharmaceuticals LimitedDirector Investor Relations and Corporate CommunicationsEmail: Media Contact Eliza Schleifstein Eliza@ This announcement has been authorized for release by the Telix Pharmaceuticals Limited Board of Directors. Legal Notices Cautionary Statement Regarding Forward-Looking Statements. You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F filed with the SEC, or on our website. The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification. To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement. This announcement may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as 'may', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'believe', 'outlook', 'forecast' and 'guidance', or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix's good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix's business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix's business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress, completion and results of Telix's preclinical and clinical trials, and Telix's research and development programs; Telix's ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix's product candidates, manufacturing activities and product marketing activities; Telix's sales, marketing and distribution and manufacturing capabilities and strategies; the commercialization of Telix's product candidates, if or when they have been approved; Telix's ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix's expenses, future revenues and capital requirements; Telix's financial performance; developments relating to Telix's competitors and industry; the anticipated impact of U.S. and foreign tariffs and other macroeconomic conditions on Telix's business; and the pricing and reimbursement of Telix's product candidates, if and after they have been approved. Telix's actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements. Trademarks and Trade Names. All trademarks and trade names referenced in this press release are the property of Telix Pharmaceuticals Limited (Telix) or, where applicable, the property of their respective owners. For convenience, trademarks and trade names may appear without the ® or ™ symbols. Such omissions are not intended to indicate any waiver of rights by Telix or the respective owners. Trademark registration status may vary from country to country. Telix does not intend the use or display of any third-party trademarks or trade names to imply any affiliation with, endorsement by, or sponsorship from those third parties. ©2025 Telix Pharmaceuticals Limited. All rights reserved. 1 Healthcare Common Procedure Coding System, refer to ASX disclosure 9 July 2025.2 Excludes revenue contribution from Illuccix sales.3 Revenue from date of RLS acquisition 27 January 2025.4 IND approved in China 22 July 2025; Clinical Trial Notification (CTN) approved in Japan 20 June 2025; Clinical Trial Application for Part 2 approved in Canada 22 May 2025.5 ID: NCT05663710.6 Refer to disclosure 13 May 2025.7 ID: NCT07052214.8 Magnetic resonance imaging.9 Imaging of prostate-specific membrane antigen with positron emission tomography.10 Subsequent to Telix disclosure on 23 June 2025, the FDA reclassified the submission to a PAS. The submission was made 5 June 2025.11 Positron Emission Tomography.12 Refer to ASX disclosure 20 June 2025.13 Prostate-specific membrane antigen.14 Brand name subject to final regulatory approval.15 Brand name subject to final regulatory approval.16 Prescription Drug User Fee Act. 17 Refer to ASX disclosures 20 February 2025. 18 See Guidance Disclaimer for further information.19 Telix ASX disclosure 20 December 2021.20 Telix ASX disclosure 21 March 2025.
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EV Connector Market worth $8.80 billion by 2032
DELRAY BEACH, Fla., July 22, 2025 /PRNewswire/ -- The EV connector market is projected to reach USD 8.80 billion by 2032, from USD 2.73 billion in 2025, with a CAGR of 18.2%, according to a new report by MarketsandMarkets. EV connectors for high-voltage systems are increasingly required to support miniaturization, weight reduction, and high-performance materials, alongside rising demand for high-bandwidth, low-latency transmission to support complex systems such as ADAS, battery management, vehicle lighting, and autonomous driving. As EVs rapidly adopt advanced driver-assistance and autonomous technologies, connectors must handle massive data flows, offering manufacturers opportunities for technological advancement. This trend is further accelerated by the shift toward zonal architectures and centralized computing, driving demand for multi-signal, high-speed connectors. Download an Illustrative overview: Browse in-depth TOC on "EV Connector Market" 307 - Tables 83 - Figures 305 - Pages Battery management systems are expected to show significant growth during the forecast period As EV battery architectures shift to more integrated, structural formats, demand for precise and reliable connectors has become more pronounced. In January 2024, JAE supplied HVIL-compliant signal connectors for BYD's Blade Battery, meeting high vibration tolerance and enabling stable BMS-to-cell communication. Similarly, in March 2024, TE Connectivity launched AMP+ high-voltage connectors for compact BMS setups in cylindrical and prismatic cells, offering enhanced creepage, clearance, and EMI shielding. These connectors featured improved creepage and clearance characteristics along with integrated shielding to minimize EMI, ensuring robust signal and power transmission in high-vibration environments. Such developments highlight a growing emphasis on connector precision and reliability as essential enablers of high-performance and safety-centric battery management systems in next-generation EVs. Board-to-board connection is expected to hold the largest share during the forecast period Board-to-board connectors establish direct electrical connections between two printed circuit boards (PCBs) within the same electronic module. These connectors support vertical, horizontal, and mezzanine stacking and are critical in applications such as digital cockpit units, centralized computing systems, and battery control modules. Their key advantages include enabling modular design, minimizing signal loss, and supporting high-speed data transmission in software-defined vehicle architectures. In June 2024, ERNI introduced zero-insertion-force board-to-board connectors for modular stacked ECU applications such as ADAS, infotainment, zonal architectures, and autonomous driving controllers, supporting multi-row layouts and shielded designs. Asia Pacific is expected to be the leading market during the forecast period Asia Pacific leads the global EV connector market, driven by robust manufacturing capabilities, increased EV production, and rapid innovation in vehicle electronics. As of 2024, the region accounted for over 55% of global EV output, supported by key automakers such as BYD, SAIC, Geely, Toyota, Hyundai, and Tata Motors. This strong presence fuels consistent demand for a broad spectrum of connectors from high-voltage components used in batteries and traction inverters to compact signal connectors for infotainment, ADAS, and zonal control systems in software-defined vehicles (SDVs). In July 2024, Sumitomo Electric began developing fiber-optic connectors to enable high-speed data transfer in SDVs through zonal E/E architectures. Adding to the region's momentum, Hyundai Mobis expanded its EV components plant in Ulsan in June 2024 to scale production of integrated connector modules, reinforcing Asia Pacific's position as the strategic hub for next-generation EV connector development. Key Market EV Connector Industry: Prominent players in the EV Connector Companies include as TE Connectivity Ltd. (Ireland), Aptiv (Ireland), Yazaki Corporation (Japan), Molex (US), and Hirose Electric Co., Ltd. (Japan), among others. Get 10% Free Customization on this Report: This report provides insights on: Analysis of key drivers (OEMs' emphasis on electrification of mid-segment and luxury vehicles, Rapid integration of ADAS and safety systems, Consumer preference for seamless and interactive driving experience), restraints (Volatility in Raw Material Prices), opportunities (Scaling of autonomous driving technologies, Shift toward advanced electrical/electronic (E/E) architecture), and challenges (Material degradation due to mechanical wear and thermal stresses, Transition from conventional connector systems to modular platform designs) influencing the growth of the EV connector market Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the EV connector market Market Development: Comprehensive information about lucrative markets – the report analyses the EV connector market across various regions Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the EV connector market Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like TE Connectivity (Ireland), Aptiv (Ireland), Yazaki Corporation (Japan), Molex (US), and Hirose Electric Co., Ltd. (Japan) in the EV connector market. Related Reports: Electric Vehicle Market EV Charging Station Market EV Cables Market Get access to the latest updates on EV Connector Companies and EV Connector Industry Growth About MarketsandMarkets™: MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter , LinkedIn and Facebook . Contact:Mr. Rohan SalgarkarMarketsandMarkets™ INC. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Our Website: Logo: View original content: SOURCE MarketsandMarkets Sign in to access your portfolio
