According to the report by Expert Market Research (EMR), the global diethylene glycol market size reached a volume of 2.86 million metric tons in 2023. Aided by rising demand for solvent across industries like paints and coatings, the market is projected to further grow at a CAGR of 4.8% between 2024 and 2032.
Diethylene glycol, a colourless organic compound, primarily finds its utility as a solvent in industries and as a cooling agent. Derived from ethylene oxide, it is renowned for its hygroscopicity and ability to mix well with water, alcohol, and other organic solvents. This versatility ensures diethylene glycol’s pertinence in an array of applications, from manufacturing plastics and resins to its role in the formulation of brake fluid, lubricants, and even personal care products.
A pivotal factor boosting the diethylene glycol market growth is the compound’s escalating use in the production of polyester resins and antifreeze formulations. With the automotive sector experiencing robust expansion, there is an intensifying demand for antifreeze products, thereby directly impacting the market demand. Additionally, diethylene glycol’s significant role in the textile industry, where it is used as a conditioning agent and in the production of synthetic fibres, contributes to its increasing market prominence.
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Major diethylene glycol market trends also highlight a surge in demand as a result of the growing construction and infrastructure development activities globally. The compound’s use in paint, adhesive, and sealant industries favours the market expansion, given the consistent need for these products in construction-related tasks.
Moreover, the personal care industry’s reliance on diethylene glycol as a humectant in products like creams, lotions, and shampoos, further enhances the diethylene glycol market size on the global scale. With consumer inclination towards personal grooming and skincare on the rise, this segment is bound to provide impetus to the market’s growth trajectory.
Region-wise, the Asia Pacific region, spearheaded by countries like China and India, emerges as a dominant player in the market, attributed to their vast industrial base and ongoing development projects. North America and Europe, with their advanced manufacturing sectors and stringent quality standards, also hold significant diethylene glycol market share.
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Diethylene Glycol Market Segmentation
The market can be divided based on application, end use, and region.
Market Breakup by Application
- Antifreeze and Coolant
- Solvents
- Humectants
- Polyester Resins and Plasticisers
- Emulsifiers and Lubricants
- Others
Market Breakup by End Use
- Agrochemical
- Automotive
- Cosmetic and Personal Care
- Paints and Coatings
- Oil and Gas
- Textiles
- Plastics Industry
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other developments, of the major companies operating in the global diethylene glycol market. Some of the major players explored in the report by Expert Market Research are as follows:
- LyondellBasell Industries Holdings B.V.
- Dow Chemical Company
- Shell International B.V.
- Huntsman International LLC
- Nippon Shokubai Co., Ltd.
- Reliance Industries Limited
- SABIC
- Others
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