Diethylene Glycol Market: Global Industry Analysis and Forecast (2023-2029)

Diethylene Glycol Market reached a value of US $ 2.63 Bn.in 2022.Plasticizer is one of the dominating segment of the Global Diethylene Glycol Market.
Diethylene Glycol Market Overview:
Diethylene glycol (DEG) is an organic compound with a chemical formula of C4H10O. It is a clear, sweet-tasting, colorless, poisonous, non-odoriferous, hygroscopic liquid commonly used in the preparation of antifreeze, brake fluid, cigarettes, and some dyes. It is commonly used as a solvent and ingredient in pharmaceuticals, cosmetics, and a variety of industrial and household products. Diethylene glycol has been identified in drinking water, groundwater, surface water, and indoor air, as it is released to the atmosphere from its manufacturing and use. It is miscible in water, alcohol, ether, and acetone.

In 2022, Diethylene glycol (DEG) were the world's 2006 th most traded product, with a total trade of $990Mn., and represent 0.0055% of total world trade. In 2022the top exporters of Diethylene glycol were Saudi Arabia (US $ 348Mn.), Belgium (US $ 123Mn.), Chinese Taipei (US $ 92.2Mn.), Canada (US $ 90.6Mn.), and Kuwait (US $ 79.9Mn.), while the top importers were China (US $ 392Mn.), United States ($93.4M), Belgium (US $ 87Mn.), Germany (US $ 75.1Mn.), and Italy (US $ 64.4Mn.).



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2022 is considered as a base year to forecast the market from 2022 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analyzed especially with the impact of lockdown by region.
Global Diethylene Glycol Market Dynamics:
The global Diethylene glycol market is primarily driven by the growing demand for plasticizers in the plastics industry, which uses diethylene glycol as a raw material. With the efficient characteristics of Diethylene glycol, such as hygroscopicity and low volatility, the product is expected to witness an increased demand for its gas drying applications during the forecast period. Growing demand from cement, paints, and coatings industries and adoption as a raw material in several end-use industries, such as plasticizers for paper, cork, and synthetic sponges are driving the diethylene glycol market growth across the globe.

Diethylene glycol is an important chemical intermediary for products like polyester resins and polyurethanes, boosting the market growth. It is widely utilized in the personal care and cosmetics business and can be found in a variety of goods including lotions, skin creams, deodorants, and toothpaste. As a result, increased demand for the product among its end-use sectors is expected to drive market growth during the forecast period.

Diethylene glycol has been used as a substitute in pharmaceutical preparations for nontoxic constituents, which causes more than a dozen epidemics of human poisoning. When consumed by humans, causes severe systemic and neurologic complications, such as coma, seizures, peripheral neuropathy, and hepatorenal failure. These factors primarily restrain the diethylene glycol market growth across the globe.

Diethylene glycol (DEG) Price Trend and Forecast:

North America: The domestic market of Diethylene glycol is showing northward direction growth across the North American region in the third quarter of 2022, thanks to the improved supply of raw materials. There is an increase was seen in the supply of ethylene oxide which is used for the production of Diethylene Glycol rise by 31% as compared to the previous quarter.

Asia Pacific: The domestic market of Diethylene Glycol witnessed moderate growth during the third quarter of 2022. In the Indian market, the supply of Diethylene Glycol remained stagnant during the quarter. Rising freight charges and scarcity of raw material led to price fluctuations in the country. For instance, the price of Diethylene Glycol last stood at US $ 929 per MT Ex-Hazira in September.

Europe: In the Europe region, the prices of Diethylene Glycol observed an increase during the third quarter of 2022, as increased demand for raw material. Rising energy rates and high prices of ethylene oxide are expected to fluctuate the pricing trend of Diethylene Glycol across the region in the third quarter of 2022.
Global Diethylene Glycol Market Segment Analysis:
Based on the Application, the Diethylene Glycol Market is segmented into Plasticizer, Personal Care, Chemical Intermediates, Polyester Resins, and Others. The Plasticizer segment held the largest market share accounting for 53% in 2022. The segment growth is attributed to the high adoption of the product as a raw material for producing plasticizer across the globe. Diethylene glycol is commonly used in the production of plastic products such as polyurethane, which is used to insulate refrigerators and freezers, resulting in increased demand for polyurethane, which is expected to increase demand for diethylene glycol.



Based on the End-User, the Diethylene Glycol Market is segmented into Plastics, Building and Construction, Polymers, Paints and Coatings, and Others. The Plastic segment held the largest market share, accounting for 34% in 2022. The Plastic market is growing globally at a very fast pace and hence is one of the drivers for this market. The Global plastic production volume increased to 368 million metric tons in 2022, from 100 million metric tons in 2010. The growing use of plastic among the numerous end-user is expected to also increase diethylene glycol production, as it is used as raw material for the production of plastic.

The paints & coatings segment is expected to witness significant growth at a CAGR of 4.28% during the forecast period. The segment growth is attributed to the rising demand for DEG as raw material for the formulation of the paints and coatings.
Global Diethylene Glycol Market Regional Insights:
Asia Pacific region held the largest market share accounted for 34% in 2022, and is expected to grow at a CAGR of 4.6% during the forecast period. The region's growth is attributed to the continuous growing investments by the government in infrastructure development and rapid industrialization in the region.

North America region is expected to witness significant growth at a CAGR of 4.1% during the forecast period. The region’s diethylene glycol market growth is attributed to the rise in the necessity for products, such as polyester resins and polyurethanes, in various end-user industries, like construction and building, consumer goods, and automotive as diethylene glycol.

The objective of the report is to present a comprehensive analysis of the Diethylene Glycol Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Diethylene Glycol Market dynamic, structure by analyzing the market segments and projecting the Diethylene Glycol Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Diethylene Glycol Market make the report investor’s guide.
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Diethylene Glycol Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $2.63Bn.


Forecast Period 2023 to 2029 CAGR:
4.63%
Market Size in 2029:
US $ 3.62 Bn.


 Segments Covered:
by Application
• Plasticizer
• Personal Care
• Chemical Intermediates
• Polyester Resins
• Others



Diethylene Glycol Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Diethylene Glycol Market Key Players
• Lyondell Basell Industries Holdings B.V.
• Dow Chemical Company
• Shell International B.V.
• Huntsman International LLC
• Nippon Shokubai Co., Ltd.
• Reliance Industries Limited
• SABIC
• Royal Dutch Shell PLC
• Huntsman International LL
• BASF SE
• Askema AS
• BP place
• Arch Chemicals
• Celanese Corporation

Frequently Asked Questions:

1. Which region has the largest share in Global Diethylene Glycol Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Diethylene Glycol Market?
Ans: The Global Diethylene Glycol Market is growing at a CAGR of 4.63% during forecasting period 2023-2029.

3. What is scope of the Global Diethylene Glycol Market report?
Ans: Global Diethylene Glycol Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Diethylene Glycol Market?
Ans: The important key players in the Global Diethylene Glycol Market are – Lyondell Basell Industries Holdings B.V.,Dow Chemical Company,Shell International B.V.,Huntsman International LLC,Nippon Shokubai Co., Ltd.,Reliance Industries Limited,SABIC,Royal Dutch Shell PLC,Huntsman International LL,BASF SE,Askema AS,BP place,Arch Chemicals,Celanese Corporation

5. What is the study period of this Market?
Ans: The Global Diethylene Glycol Market is studied from 2022 to 2029.