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Global Diethylene Glycol Market Expected to Reach 3.44 Million Metric Tons by 2025, Driven by the Extensive Applications of the Product

According to a new report by EMR titled, 'Global Diethylene Glycol Market Report and Forecast 2020-2025', the global market for diethylene glycol reached a volume of 2.6 million metric tons in 2019. The market is further expected to grow at a CAGR of 4.8% in the forecast period of 2020-2025 to reach a volume of 3.44 million metric tons by 2025.

The diethylene glycol industry is driven by the rising demand for the derivatives of the main product, ethylene glycol. The market is further strengthened by the use of the product in the manufacturing of unsaturated polyester resins, plasticisers, and polyurethanes. The product is used as a solvent for nitrocellulose, resins, dyes, oils, and a few other organic compounds. The product is variously used as humectants for cork, tobacco, printing ink, and glue. The diethylene glycol is used as a raw material in the production of lubricants, wallpaper strippers, brake fluid, artificial fog solutions, and heating or cooking fuel. The product is further used as a coolant when diluted.

Reliance Industries Limited and Dow Chemical Company (NYSE: CTA-B) are some of the leading players in the market. In July 2017, Reliance Industries Limited, an Indian energy and petrochemical giant, announced that it will commission a new plant for the production of diethylene glycol (DEG) and monoethylene glycol (MEG) in Jamnagar, Gujarat, India. Similar expansions by various key players in the industry are expected to aid the market growth of diethylene glycol over the forecast period.

Market Analysis by Application, End Use, and Region:

  • The diethylene glycol industry, on the basis of application, is divided into antifreeze and coolant, solvents, humectants, polyester resins and plasticisers, and emulsifiers and lubricants, among others.
  • By end use, the industry is segmented into agrochemical, automotive, cosmetic and personal care, paints and coatings, oil and gas, textile, and plastic industry, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for diethylene glycol is driven by the accelerating demand for plasticisers in the plastics industry.  
  • The market is further aided by the growing demand for gas drying applications of the product due to its hygroscopicity and low volatility.
  • Moreover, the product functions as a chemical intermediate for products like polyester resins and polyurethanes, as a result, aiding the market growth over the forecast period.
  • The diethylene glycol industry is furthered by the extensive application of the product in various personal care and cosmetics products such as lotions, skin creams, deodorants, and toothpastes, among others.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for diethylene glycol for the periods (2015-2019) and (2020-2025).
  • The report also offers the historical (2015-2019) and forecast (2020-2025) for the applications, end uses, and regional markets of diethylene glycol. 
  • It gives an in-depth look at the regional price trends in the global market for diethylene glycol.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

LyondellBasell Industries Holdings B.V., Dow Chemical Company, Shell International B.V., Huntsman International LLC, Nippon Shokubai Co., Ltd., Reliance Industries Limited, and SABIC, among others are the key players in the global diethylene glycol market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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