PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887119
PUBLISHER: Fortune Business Insights Pvt. Ltd. | PRODUCT CODE: 1887119
The global triethylene glycol (TEG) market continues to expand steadily, supported by its extensive industrial applications and rising demand from sectors such as natural gas processing, plastics, cosmetics, and automotive. According to the latest industry assessment, the global TEG market was valued at USD 1.70 billion in 2024 and is projected to increase to USD 1.76 billion in 2025, ultimately reaching USD 2.29 billion by 2032, at a consistent CAGR of 3.8% between 2025 and 2032. Asia Pacific remained the dominant regional market with a commanding 77.65% share in 2024, driven by large-scale consumption in China, India, and Southeast Asia.
Triethylene glycol (C6H14O4) is a clear, viscous liquid widely used in natural gas dehydration, humectant formulations, plasticizers, solvents, smoke machine fluids, and personal care products. Its strong water-absorbing capability, low volatility, and compatibility with industrial chemicals continue to support its rising global demand.
Market Drivers
A major growth driver is the increasing global reliance on natural gas, where TEG plays a critical role in dehydrating gas streams to prevent corrosion and hydrate formation inside pipelines. As natural gas consumption grows, so does TEG demand. According to the International Energy Agency, global gas consumption rose by 2.8% in 2024, significantly boosting the need for TEG in dehydration systems.
The market is also supported by rising demand for plasticizers, particularly in the automotive and construction industries. TEG's ability to enhance flexibility and durability in polymers has elevated its adoption. In 2023, global plastic production reached 413.8 million tons, indicating strong long-term demand for plasticizer chemicals.
In addition, the personal care sector contributes to TEG's expansion. As a humectant and moisturizer, TEG is widely used in skincare and haircare formulations. The European Union exported USD 12.8 billion worth of beauty and skincare products in 2023, highlighting the rising consumption of hydrating ingredients such as triethylene glycol.
Market Restraints
Despite its diverse applications, the market faces challenges. Environmental regulations related to chemical disposal and emissions pose limitations. Improper handling or over-circulation of TEG can contribute to methane emissions, according to the U.S. Environmental Protection Agency, creating operational inefficiencies in gas dehydration systems.
Health concerns linked to prolonged exposure-such as irritation of skin, eyes, and respiratory tissues-also require stringent safety protocols, increasing compliance costs for manufacturers.
Market Opportunities
The growing use of TEG as a solvent in cleaning agents, printing inks, and chemical separation processes presents significant opportunities. Its excellent solubility and stability make it a valuable industrial solvent. The global chemical sector grew by 3.9% in 2024, according to BASF's financial report-an expansion which will directly increase the demand for TEG-based solvents and intermediates.
By Application
The natural gas dehydration segment dominated the market in 2024 due to TEG's cost-effectiveness and efficiency in water removal. It remains the leading application area in 2025 and is expected to retain its dominance through 2032, as global gas production increases (+0.7% in 2023).
The plasticizers segment is also expanding, supported by high plastic manufacturing volumes across Asia and Europe.
By End-Use Industry
The oil & gas industry remains the largest consumer of TEG. The sector's growth-driven by rising global demand, which is expected to reach 103.9 mb/d in 2025-strengthens TEG adoption.
The textile industry is an emerging growth area, where TEG improves fiber softness, dye uniformity, and moisture regulation. With global fiber production expected to reach 147 million tons by 2030, textile-based demand for TEG is set to rise significantly.
Asia Pacific
Asia Pacific accounted for USD 1.32 billion in market value in 2024, making it the largest regional market. China is the primary driver, producing 232.4 bcm of natural gas in 2023, up 5.6% from 2022, and expanding plastic manufacturing capacity.
Europe
The region is the second-largest market, benefiting from strong chemical, automotive, and cosmetics sectors. The European personal care industry contributes USD 30 billion annually, supporting TEG demand in formulations.
North America
Projected to record the fastest growth, North America benefits from the U.S. being the world's leading natural gas producer with 37.8 Tcf produced in 2023.
Latin America & Middle East-Africa
These regions show steady growth driven by infrastructure expansion, rising oil & gas investments, and increasing TEG use in cementing aids and solvents.
Competitive Landscape
Major TEG producers include BASF, Dow, Mitsubishi Chemical, Nan YA Plastics, SABIC, Orlen, Shell, and PTT Global Chemical. Companies are expanding capacities, forming joint ventures, and pursuing low-emission production technologies. Notable developments include INEOS's acquisition of LyondellBasell's EO and Glycol facility (2023) and SABIC's collaboration with Scientific Design to reduce carbon emissions in EG production.
Conclusion
With rising applications in natural gas processing, plasticizers, cosmetics, and solvents, the global triethylene glycol market is positioned for steady expansion from USD 1.70 billion in 2024 to USD 2.29 billion by 2032, driven largely by Asia Pacific's industrial dominance and global shifts toward cleaner energy and advanced chemical processing.
Segmentation By Application
By End-use Industry
By Region