Ethylene Glycol Market by Type, Production Method, End-use Industry, Application

List of Tables

[196 Pages Report] The Ethylene Glycol Market size was estimated at USD 16.67 billion in 2023 and expected to reach USD 17.45 billion in 2024, at a CAGR 5.03% to reach USD 23.51 billion by 2030.

Ethylene glycol (C2H6O2), also known as monoethylene glycol (MEG), is a colorless, virtually odorless, sweet-tasting viscous liquid and organic compound widely utilized within the chemical industry. Primary uses of ethylene glycol include serving as a raw material for the production of polyester fibers and antifreeze formulations. It exhibits properties such as hygroscopicity and freezing point depression, making it valuable in applications requiring lowering freezing points or retaining moisture. The primary driver for the ethylene glycol market is its extensive use in the production of polyester fibers, which are crucial for the textile industry. Additionally, the growing automotive sector fuels demand for antifreeze and coolant applications, where ethylene glycol plays a crucial role. Despite these positive growth prospects, health and environmental concerns associated with ethylene glycol hinder market growth. However, emerging developments and applications of bio-based ethylene glycol offer new growth opportunities for market players.

KEY MARKET STATISTICS
Base Year [2023]	USD 16.67 billion
Estimated Year [2024]	USD 17.45 billion
Forecast Year [2030]	USD 23.51 billion
CAGR (%)	5.03%

Type: Growing demand for DEG owing to its effective hygroscopic and solvent properties

Monoethylene glycol (MEG) is a widely produced and commercially significant form of ethylene glycol. It is primarily utilized as an antifreeze in the automotive industry owing to its ability to lower the freezing point of water. Beyond this, MEG serves as a vital raw material in the production of polyester fibers, resin, and PET (Polyethylene Terephthalate) used in fabric manufacturing and packaging solutions. Its hygroscopic nature also makes it useful in applications requiring moisture absorption. Diethylene glycol (DEG) is recognized for its applications in manufacturing unsaturated polyester resins, plasticizers, and acrylate and methacrylate resins. DEG is a byproduct of the ethylene oxide production process and exhibits properties that make it suitable for use as a solvent and softening agent. It finds its utility in the textile industry as a lubricant and humectant and in the chemical industry as a building block in the synthesis of organic compounds. Triethylene glycol (TEG) is utilized for its hygroscopic properties, particularly in natural gas dehydration processes where it removes water vapor and prevents pipeline freezes and corrosion. Additionally, TEG is applied in the manufacturing of air sanitizer products owing to its effectiveness in inactivating bacteria and viruses in the air.

Application: Significance of ethylene glycol's efficient thermal transfer properties in antifreeze and coolants

Ethylene glycol is a primary raw material in antifreeze and coolant formulations for automotive and industrial applications. It effectively lowers the freezing point and raises the boiling point of the coolant, preventing the engine and cooling systems from freezing in cold climates or overheating under high temperatures. In chemical synthesis, ethylene glycol is utilized as a starting material or intermediate for the production of numerous chemical compounds. It acts as a hydrating agent in the manufacture of esters, alcohols, and acids. The versatility of ethylene glycol in chemical reactions makes it a crucial component in synthesizing products ranging from pharmaceuticals to dyes and adhesives. Polyethylene terephthalate (PET) resins, extensively used in manufacturing bottles for beverages and containers for food items, are produced using ethylene glycol. The polymerization of ethylene glycol with terephthalic acid results in PET, which is preferred for its clarity, strength, and recyclability. Ethylene glycol is a significant ingredient in the production of polyester fibers, which are widely employed in the textile industry for apparel, home furnishings, and industrial uses. These fibers are produced by polymerizing ethylene glycol with purified terephthalic acid or its esters. Moreover, ethylene glycol is used as a solvent in both industrial and laboratory applications. It is used to dissolve water-insoluble substances in paint and plastic industries and as a medium for organometallic reactions.

Regional Insights

The ethylene glycol market in the Americas has shown consistent growth, driven by the demand in the automotive and pharmaceutical industries. The United States remains a significant contributor, leveraging its advanced petrochemical industry. On the other hand, Latin America is witnessing modest growth, primarily propelled by the automotive sector and polyester fiber production for textiles. Europe's strict environmental regulations have led to innovations in bio-based ethylene glycol, attracting investments and creating new market opportunities. Meanwhile, the Middle East capitalizes on its abundant petrochemical resources and presents a strong market landscape. Asia-Pacific is the fastest-growing region in the global ethylene glycol market, with demand closely tied to the booming polyester fiber industry and antifreeze production. Additionally, the region benefits from competitive manufacturing costs and an expansive industrial base.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Ethylene Glycol Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Ethylene Glycol Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Ethylene Glycol Market, highlighting leading vendors and their innovative profiles. These include BASF SE, China Petrochemical Corporation, Ennore India Chemical International, EQUATE Petrochemical Company, ExxonMobil Corporation, HELM AG, Henan GP Chemicals Co.,Ltd., INEOS AG, Lotte Chemical Corporation, Mahakali Industries, Merck KGaA, Nan Ya Plastics Corporation, Otto Chemie Pvt Ltd, Reliance Industries Limited, Saudi Basic Industries Corporation, Shell PLC, Siddhi Vinayak Industries, Spectrum Chemical Mfg. Corp., Thermo Fisher Scientific Inc., Tokyo Chemical Industry Co., Ltd., Ultrapar Participacoes Sa, Vizag Chemical International, VWR International, LLC, and Zhishang Chemical.

Market Segmentation & Coverage

This research report categorizes the Ethylene Glycol Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Diethylene Glycol
- Monoethylene Glycol
- Triethylene Glycol

Production Method
- Bio-based Production
- Ethylene Oxide-Based Production

End-use Industry
- Automotive
- Chemical Intermediates
- Packaging
- Pharmaceutical
- Textile

Application
- Antifreeze & Coolants
- Chemical Synthesis
- PET Resins
- Polyester Fibers
- Solvents

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Ethylene Glycol Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Ethylene Glycol Market?

3. What are the technology trends and regulatory frameworks in the Ethylene Glycol Market?

4. What is the market share of the leading vendors in the Ethylene Glycol Market?

5. Which modes and strategic moves are suitable for entering the Ethylene Glycol Market?

Product Code: MRR-F97DD5A7E1AD

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing automobile sector and extensive use of ethylene glycol in vehicles
  - 5.1.1.2. Rising demand for PET bottles and packaging materials
  - 5.1.1.3. Increasing adoption of polyester fibers in the textile industry
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuating prices of raw materials associated with ethylene glycol
- 5.1.3. Opportunities
  - 5.1.3.1. Rising development of bio-based ethylene glycol
  - 5.1.3.2. Advancements in recycling technologies for ethylene glycol
- 5.1.4. Challenges
  - 5.1.4.1. Health and environmental hazards of ethylene glycol
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing demand for DEG owing to its effective hygroscopic and solvent properties
- 5.2.2. Application: Significance of ethylene glycol's efficient thermal transfer properties in antifreeze and coolants
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Ethylene Glycol Market, by Type

6.1. Introduction
6.2. Diethylene Glycol
6.3. Monoethylene Glycol
6.4. Triethylene Glycol

7. Ethylene Glycol Market, by Production Method

7.1. Introduction
7.2. Bio-based Production
7.3. Ethylene Oxide-Based Production

8. Ethylene Glycol Market, by End-use Industry

8.1. Introduction
8.2. Automotive
8.3. Chemical Intermediates
8.4. Packaging
8.5. Pharmaceutical
8.6. Textile

9. Ethylene Glycol Market, by Application

9.1. Introduction
9.2. Antifreeze & Coolants
9.3. Chemical Synthesis
9.4. PET Resins
9.5. Polyester Fibers
9.6. Solvents

10. Americas Ethylene Glycol Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Ethylene Glycol Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Ethylene Glycol Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. SABIC Joins Tripartite Agreement for Ethylene Glycol Production Decarbonization
- 13.3.2. INEOS Announces the Acquisition of the LyondellBasell Ethylene Oxide and Derivatives Business and Production Facility at Bayport, Texas, for USD 700 Million
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio