PPG is a skin-penetrating vehicle.
Basically, in order for a topical treatment to work, it needs to get INTO your skin. Human skin is relatively waterproof, as our bodies are composed of, I believe, over 80% water, our skin is what keeps us from evaporating away like a drop of rain on hot pavement.
So, treatment chemicals need to be dissolved into a non-water liquid that can penetrate this skin barrier, and this is what PPG does. Actually, there are two skin penetrating vehicles in minoxidil, PPG and Alcohol, and minoxidil is dissolved into the mixture of both. Alcohol is actually more effective at penetrating skin, but PPG is more stable and "holds" the minoxidil in dissolved form longer. So, minoxidil uses a combination of these two substances that maximizes skin penetration ability and minimizes the chances of the minoxidil chemical "precipitating" out of the liquid and reverting to its natural undissolved, solid form at the bottom of your minoxidil dropper.