Global Ethylene Glycol Market, By Application (Polyester Fiber and Films, Polyethylene Terephthalate, Antifreeze and Coolant, Others), Type (Monoethylene Glycol, Di-Ethylene Glycol, Tri-Ethylene Glycol) – Industry Trends and Forecast to 2029
Ethylene Glycol Market Analysis and Size
Ethylene glycol is an organic compound that is used in the production of polyester fibre as a raw material. It serves as a coolant in automobile engines. It also serves as a heat transfer agent. Furthermore, mixing ethylene glycol with water has the added benefit of preventing corrosion, acid degradation, and the growth of certain bacteria. MEG is a key raw material in the production of polyethylene terephthalate (PET). PET made from MEG is used to make bottles of drinking water, carbonated drinks, and food packaging.
Data Bridge Market Research analyses that the ethylene glycol market was valued at USD 29.12 billion in 2021 and is to reach an estimated value of 34.21 billion by the end of the forecast period and to grow at a CAGR of 4.14% during the forecast period and Data Bridge Market Research report on ethylene glycol market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Market Definition
The organic compound ethylene glycol has the formula (CH2OH)2. It is a toxic, colourless, odourless, low-volatility, viscous, and hygroscopic liquid. It is completely miscible with water and a wide range of organic liquids. Hydroxyl groups on glycols are subjected to the standard alcohol chemistry, yielding a wide range of possible derivatives.
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Report Metric |
Details |
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Forecast Period |
2022 to 2029 |
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Base Year |
2021 |
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Historic Years |
2020 (Customizable to 2019 - 2014) |
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Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
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Segments Covered |
By Application (Polyester Fiber and Films, Polyethylene Terephthalate , Antifreeze and Coolant, Others), Type (Monoethylene Glycol, Di-Ethylene Glycol, Tri-Ethylene Glycol) |
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Countries Covered |
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America. |
| Market Players Covered |
DuPont (U.S.), Solvay (Belgium), DAIKIN (Japan), Dow (U.S.), 3M (U.S.), H.B. Fuller Company (U.S.), AVERY DENNISON CORPORATION (U.S.), Sealed Air (U.S.), SABIC (Saudi Arabia), Arkema (France), LyondellBasell Industries Holdings B.V. (Netherlands), Exxon Mobil Corporation (U.S.), Mitsui Chemicals Inc., (Japan), Braskem (Brazil), TotalEnergies (France), Novamont SpA (Italy), Biome Bioplastics (UK), PTT Global Chemical Public Company Limited (Thailand) and KURARAY CO., LTD. (Japan) |
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Opportunities |
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Ethylene Glycol Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Availability Of Raw Materials And Low Transportation Costs
The availability of raw materials and low transportation costs are the major factors driving the growth of the ethylene glycol market during the forecast period of 2022-2029.
- Rising Popularity For Bio-Based Ethylene Glycol
The availability of advanced ethylene glycol production technology, rising popularity for bio-based ethylene glycol, rising natural gas production, and rising demand from the textile industry are expected to drive the growth of the ethylene glycol market during the forecast period of 2022-2029.
Restraints
However, a lack of universal directives pertaining to ethylene glycol applications, as well as strict rules and regulations, will restrain the ethylene glycol market in the forecast period of 2022-2029, whereas fluctuation in raw material prices will challenge market growth in the above-mentioned forecast period.
This ethylene glycol market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the ethylene glycol market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post COVID-19 Impact on Ethylene Glycol Market
Many products saw a significant drop in demand as a result of the global lockdown and supply chain disruptions. Because of the outbreak of COVID-19, the textile industries have halted production. Fabric production is currently halted because people are not permitted to go shopping. Despite the fact that many industries are in crisis, the pharmaceutical industry is still operating in the market. The COVID-19 pandemic has increased demand for personal protective equipment like face masks and disinfectants. Because ethylene glycol has antibacterial properties, it is an excellent disinfectant during this crisis. In hospitals, ethylene glycol is used to sterilise surgical instruments. As a result of this pandemic, the global ethylene glycol market is experiencing significant growth.
Recent Development
- ExxonMobil and SABIC announced the successful launch of Gulf Coast Growth Ventures' world-class manufacturing facility in San Patricio County, Texas, in January 2022. A mono-ethylene glycol unit with an annual capacity of 1.1 million metric tons is part of the new facility's operations.
- SABIC announced the start-up of the Ethylene Glycol Plant – 3 at its manufacturing affiliate, Jubail United Petrochemical Company (United), in November 2021, with an estimated annual production capacity of 700,000 metric tons of mono-ethylene glycol.
Global Ethylene Glycol Market Scope
The ethylene glycol market is segmented on the basis of type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Monoethylene glycol (MEG)
- Di-ethylene glycol (DEG)
- Tri-ethylene glycol (TEG)
Application
- Polyester fiber and films
- Polyethylene terephthalate
- Antifreeze and coolant
- Others
Ethylene Glycol Market Regional Analysis/Insights
The ethylene glycol market is analysed and market size insights and trends are provided by country type, type and application as referenced above.
The countries covered in the ethylene glycol market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa.
Asia-Pacific currently dominates the ethylene glycol market and will continue to do so during the forecast period due to factors such as rising disposable income and improved living standards in many countries in the region. However, due to the presence of major automotive players and a thriving polyethylene terephthalate resin industry in the United States and Canada, North America will continue to project the highest growth rate for this period.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Ethylene Glycol Market Share Analysis
The ethylene glycol market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to ethylene glycol market.
Some of the major players operating in the ethylene glycol market are:
- DuPont (U.S.)
- Solvay (Belgium)
- DAIKIN (Japan)
- Dow (U.S.)
- 3M (U.S.)
- H.B. Fuller Company (U.S.)
- AVERY DENNISON CORPORATION (U.S.)
- Sealed Air (U.S.)
- SABIC (Saudi Arabia)
- Arkema (France)
- LyondellBasell Industries Holdings B.V. (Netherlands)
- Exxon Mobil Corporation (U.S.)
- Mitsui Chemicals Inc., (Japan)
- Braskem (Brazil)
- TotalEnergies (France)
- Novamont SpA (Italy)
- Biome Bioplastics (UK),
- PTT Global Chemical Public Company Limited (Thailand)
- KURARAY CO., LTD. (Japan)
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