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Ethylene Glycol Market

Global Ethylene Glycol Market Share, Size, Forecast: By Type: Monoethylene Glycol (MEG), Diethylene Glycol (DEG), Triethylene Glycol (TEG); By Manufacturing Process: Ethylene Oxide, Coal, Biological Route, Others; By Application: Polyester Fiber, Others; By End Use; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global Ethylene Glycol Market Outlook

The global ethylene glycol market size reached approximately USD 48.21 billion in 2023. The market is projected to grow at a CAGR of 4.7% between 2024 and 2032, reaching a value of around USD 72.82 billion by 2032.

 

Key Trends in the Market

Ethylene glycol, chemically represented as (CH2OH)2, is an odourless, colourless, and flammable organic compound with a sweet taste. This compound is synthesised through a process involving the oxidation of ethylene with oxygen, leading to the formation of ethylene oxide. Following this, ethylene oxide undergoes hydration to yield ethylene glycol.

 

  • Ethylene glycol is a key component used in the production of polyethylene terephthalate (PET) resin, which is extensively used in the manufacturing of bottles, packaging materials, and textiles. The global ethylene glycol market growth is being propelled by the increasing demand for PET resin. The global demand for PET resin has been steadily increasing due to its versatility, lightweight nature, and recyclability.
  • The increasing application of ethylene glycol in the automobile sector as an antifreeze agent is expected to propel the ethylene glycol market demand. The compound has a lower freezing point compared to water, which enables it to keep the vehicle radiator cool throughout the winter. Moreover, the rapidly growing sales of automobiles around the world are expected to significantly enhance the development of the market in upcoming years.
  • Multiple sectors are adopting the global trend of sustainability and eco-friendliness, and the chemical sector is following suit. Owing to this emphasis on sustainability and environmental concerns, there has been a noticeable shift towards bio-based ethylene glycol. Hence, one of the key ethylene glycol market trends is growing attempts by manufacturers to explore alternative sources like biomass and renewable feedstocks to produce ethylene glycol, which also helps in reducing the carbon footprint associated with its production.

 

Market Analysis

Based on type, the market can be segmented into monoethylene glycol (MEG), diethylene glycol (DEG), and triethylene glycol (TEG). The global ethylene glycol market segmentation, based on manufacturing process, includes ethylene oxide, coal, and biological routes, among others. Based on application, the market is categorised into polyester fibre, polyethylene terephthalate (PET), antifreeze, and film, among others.

 

The market, based on the end use, can be divided into plastic, transportation, textile, and oil and gas, among others. The major regional markets for ethylene glycol are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global ethylene glycol market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

 

  • Shell PLC
  • BASF SE
  • Mitsubishi Chemical Group
  • Saudi Basic Industries Corporation 
  • Reliance Industries Ltd
  • China Petrochemical Co., Ltd. (SINOPEC)
  • Formosa Plastics Corporation
  • INEOS AG
  • LOTTE Chemical Corporation
  • India Glycols Limited
  • Others

 

Market Share by Type

According to the global ethylene glycol market analysis, monoethylene glycol (MEG) is likely to show substantial growth during the forecast period owing to its extensive usage in a wide range of industries. It plays a pivotal role in the textile and packaging sectors and serves as a vital component in the production of polyester fibres and polyethylene terephthalate (PET) resins.

 

Moreover, its application as an antifreeze and coolant in automotive applications further strengthens its demand. MEG's adaptability, dependability, and broad industrial uses all contribute to its prominent position in propelling the overall growth of the market.

 

Market Share by Region

The rapid expansion of end-use sectors such as textile, transportation, and plastics, among others, in the Asia Pacific is expected to significantly influence the global ethylene glycol market share in the coming years. Moreover, the increase in disposable income and improvements in living standards across numerous countries in the Asia Pacific region are driving the utilisation of plastics and resins. Consequently, this surge in demand is leading to a greater need for ethylene glycols.

 

Competitive Landscape

Shell PLC is one of the world’s largest oil and gas companies based in London, England. The company’s establishment dates back to 1893, and since then it has established a vast network of production facilities, refineries, and distribution outlets around the world. Shell is involved in a wide range of activities in the energy sector. This includes exploration, production, refining, distribution, and marketing of oil and gas products.

 

BASF SE is a global chemical corporation with its main offices situated in Ludwigshafen, Germany. Renowned as one of the foremost chemical manufacturers worldwide, it boasts a broad spectrum of operations spanning chemicals, plastics, performance products, functional materials, agricultural solutions, and oil and gas. With a presence in more than 80 countries, BASF maintains production facilities, research centres, and offices across diverse regions.

 

Mitsubishi Chemical Group is a group of companies primarily engaged in the production and sale of chemicals, polymers, plastics, and related products. It was established in the year 2005 and operates as a part of the larger Mitsubishi Group, a Japanese conglomerate with interests in a wide range of industries.

 

Other global ethylene glycol market players include Saudi Basic Industries Corporation, Reliance Industries Ltd, China Petrochemical Co., Ltd. (SINOPEC), Formosa Plastics Corporation, INEOS AG, LOTTE Chemical Corporation, and India Glycols Limited, among others.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Manufacturing Process
  • Application
  • End Use
  • Region
Breakup by Type
  • Monoethylene Glycol (MEG)
  • Diethylene Glycol (DEG)
  • Triethylene Glycol (TEG)
Breakup by Manufacturing Process
  • Ethylene Oxide
  • Coal
  • Biological Route
  • Others
Breakup by Application
  • Polyester Fiber
  • Polyethylene Terephthalate (PET)
  • Antifreeze
  • Film
  • Others
Breakup by End Use
  • Plastic
  • Transportation
  • Textile
  • Oil and Gas
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Shell PLC
  • BASF SE
  • Mitsubishi Chemical Group
  • Saudi Basic Industries Corporation 
  • Reliance Industries Ltd
  • China Petrochemical Co., Ltd. (SINOPEC)
  • Formosa Plastics Corporation
  • INEOS AG
  • LOTTE Chemical Corporation
  • India Glycols Limited
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description   
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Ethylene Glycol Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Ethylene Glycol Historical Market (2018-2023) 
    8.3    Global Ethylene Glycol Market Forecast (2024-2032)
    8.4    Global Ethylene Glycol Market by Type
        8.4.1    Monoethylene Glycol (MEG)
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Diethylene Glycol (DEG)
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Triethylene Glycol (TEG)
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
    8.5    Global Ethylene Glycol Market by Manufacturing Process
        8.5.1    Ethylene Oxide
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Coal
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Biological Route
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Others
    8.6    Global Ethylene Glycol Market by Application
        8.6.1    Polyester Fiber
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Polyethylene Terephthalate (PET)
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Antifreeze
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Film
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Others
    8.7    Global Ethylene Glycol Market by End Use
        8.7.1    Plastic 
            8.7.1.1    Historical Trend (2018-2023)
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Transportation 
            8.7.2.1    Historical Trend (2018-2023)
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Textile 
            8.7.3.1    Historical Trend (2018-2023)
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Oil and Gas
            8.7.4.1    Historical Trend (2018-2023)
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Others
    8.8    Global Ethylene Glycol Market by Region
        8.8.1    North America
            8.8.1.1    Historical Trend (2018-2023)
            8.8.1.2    Forecast Trend (2024-2032)
        8.8.2    Europe
            8.8.2.1    Historical Trend (2018-2023)
            8.8.2.2    Forecast Trend (2024-2032)
        8.8.3    Asia Pacific
            8.8.3.1    Historical Trend (2018-2023)
            8.8.3.2    Forecast Trend (2024-2032)
        8.8.4    Latin America
            8.8.4.1    Historical Trend (2018-2023)
            8.8.4.2    Forecast Trend (2024-2032)
        8.8.5    Middle East and Africa
            8.8.5.1    Historical Trend (2018-2023)
            8.8.5.2    Forecast Trend (2024-2032)
9    North America Ethylene Glycol Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023)
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023)
        9.2.2    Forecast Trend (2024-2032)
10    Europe Ethylene Glycol Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023)
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023)
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Ethylene Glycol Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023)
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023)
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Ethylene Glycol Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Ethylene Glycol Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price  
15    Trade Data Analysis (HS Code – 290531)
    15.1    Major Exporting Countries 
        15.1.1    By Value
        15.1.2    By Volume
    15.2    Major Importing Countries 
        15.2.1    By Value
        15.2.2    By Volume
16    Price Analysis 
17    Competitive Landscape
    17.1    Market Structure
    17.2    Company Profiles
        17.2.1    Shell PLC
            17.2.1.1    Company Overview
            17.2.1.2    Product Portfolio
            17.2.1.3    Demographic Reach and Achievements
            17.2.1.4    Certifications
        17.2.2    BASF SE 
            17.2.2.1    Company Overview
            17.2.2.2    Product Portfolio
            17.2.2.3    Demographic Reach and Achievements
            17.2.2.4    Certifications
        17.2.3    Mitsubishi Chemical Group 
            17.2.3.1    Company Overview
            17.2.3.2    Product Portfolio
            17.2.3.3    Demographic Reach and Achievements
            17.2.3.4    Certifications
        17.2.4    Saudi Basic Industries Corporation  
            17.2.4.1    Company Overview
            17.2.4.2    Product Portfolio
            17.2.4.3    Demographic Reach and Achievements
            17.2.4.4    Certifications
        17.2.5    Reliance Industries Ltd 
            17.2.5.1    Company Overview
            17.2.5.2    Product Portfolio
            17.2.5.3    Demographic Reach and Achievements
            17.2.5.4    Certifications
        17.2.6    China Petrochemical Co., Ltd. (SINOPEC) 
            17.2.6.1    Company Overview
            17.2.6.2    Product Portfolio
            17.2.6.3    Demographic Reach and Achievements
            17.2.6.4    Certifications
        17.2.7    Formosa Plastics Corporation
            17.2.7.1    Company Overview
            17.2.7.2    Product Portfolio
            17.2.7.3    Demographic Reach and Achievements
            17.2.7.4    Certifications
        17.2.8    INEOS AG 
            17.2.8.1    Company Overview
            17.2.8.2    Product Portfolio
            17.2.8.3    Demographic Reach and Achievements
            17.2.8.4    Certifications
        17.2.9    LOTTE Chemical Corporation 
            17.2.9.1    Company Overview
            17.2.9.2    Product Portfolio
            17.2.9.3    Demographic Reach and Achievements
            17.2.9.4    Certifications
        17.2.10    India Glycols Limited 
            17.2.10.1    Company Overview
            17.2.10.2    Product Portfolio
            17.2.10.3    Demographic Reach and Achievements
            17.2.10.4    Certifications
        17.2.11    Others
18    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Ethylene Glycol Market: Key Industry Highlights, 2018 and 2032
2.    Global Ethylene Glycol Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Ethylene Glycol Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Ethylene Glycol Historical Market: Breakup by Application (USD Billion), 2018-2023
5.    Global Ethylene Glycol Market Forecast: Breakup by Application (USD Billion), 2024-2032
6.    Global Ethylene Glycol Historical Market: Breakup by End Use (USD Billion), 2018-2023
7.    Global Ethylene Glycol Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8.    Global Ethylene Glycol Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Ethylene Glycol Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Ethylene Glycol Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Ethylene Glycol Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Ethylene Glycol Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Ethylene Glycol Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Ethylene Glycol Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Ethylene Glycol Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Ethylene Glycol Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Ethylene Glycol Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Ethylene Glycol Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Ethylene Glycol Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Major Exporting Countries by Value
21.    Major Importing Countries by Value
22.    Major Exporting Countries by Volume
23.    Major Importing Countries by Volume
24.    Global Ethylene Glycol Market Structure

Key Questions Answered in the Report

What was the global ethylene glycol market value in 2023?

In 2023, the market reached an approximate value of USD 48.21 billion.

What is the growth rate of the global ethylene glycol market?

The market is projected to grow at a CAGR of 4.7% between 2024 and 2032.

What is the forecast outlook of the global ethylene glycol market for 2024-2032?

The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of around USD 72.82 billion by 2032.

What are the major market drivers?

The market is driven by the increasing demand for PET resins and rising applications of the product in the automobile sector.

What are the major trends in the market?

The growing emphasis on sustainability and the rising shift in interest towards bio-based ethylene glycol are expected to propel the market expansion in the coming years.

What are the major regional markets for ethylene glycol, according to the EMR report?

The major regional markets are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

What are the major end-uses of the product?

The different end-uses are plastic, transportation, textile, and oil and gas, among others.

Who are the key market players, according to the global ethylene glycol market report?

The key players in the market include Shell PLC, BASF SE, Mitsubishi Chemical Group, Saudi Basic Industries Corporation, Reliance Industries Ltd, China Petrochemical Co., Ltd. (SINOPEC), Formosa Plastics Corporation, INEOS AG, LOTTE Chemical Corporation, and India Glycols Limited, among others.

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We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

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