Diethylene Glycol Market to Grow at a CAGR of 5.12% by 2035
According to ChemAnalyst report, “Diethylene Glycol (DEG) Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2035”, The Diethylene Glycol (DEG) market witnessed significant growth as its demand reached 3.25 million tonnes in 2020 and is anticipated to grow at a healthy CAGR of 5.12% in the span of the next ten years. Consistently increasing demand for Diethylene Glycol from various end-use industries, including paint and coatings, automotive, textiles, cosmetic and personal care, building and construction, agrochemical, and others, is likely to boost the DEG market in the forecast period. The rising demand from the flourishing plastic industry is expected to drive the market in the upcoming years.
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Diethylene glycol is a stable, colorless, odorless, poisonous, and hygroscopic liquid with the molecular formula C4H10O3. DEG is completely miscible in water and consists of four carbon dimers of ethylene glycol. It is synthesized by the partial hydrolysis of Ethylene Oxide and as a co-product of ethylene glycol (MEG) and triethylene glycol. DEG is extensively used as a solvent that makes it useful in cleaners, cement processing, heat transfer fluids, and adhesives. Diethylene Glycol is commercially used in the manufacturing of antifreeze, brake fluid, cigarettes, some dyes, and medicines. It also finds its applications in the production of saturated and unsaturated polyester resins, polyurethanes, humectants, and plasticizers.
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Diethylene Glycol (DEG) Market is segmented based on end-use, applications, distribution channel, and region. Based on various applications, the DEG market is divided into plasticizers, solvents, polyester resins, chemical intermediates, lubricants, dehydrants, cosmetic and personal care products, freezing product depressants, and others. The plasticizers segment accounts for the largest share in the DEG market around the world as it is widely used as a key raw material for various products like paper, cork, synthetic sponges, flexible PVC, etc. Rising consumption for flexible and lightweight PVC due to its massive utilization in medical devices, automotive parts, adhesive films, extruded wires, and others have bolstered the demand for Diethylene Glycol across the globe. The rising demand for DEG in the making of personal care products like skin creams, lotions, deodorants, etc., is expected to drive the market in the near future.
On the basis of end-use, the Diethylene Glycol market is segmented into plastic, paint and coatings, automotive, textiles, agrochemical, cosmetic and personal care, building and construction, and others. The plastic industry dominates the Diethylene Glycol market owing to the continuously increasing demand for plasticizers and polyurethanes across the globe. Rapidly increasing demand for DEG from the downstream automotive and paint and coatings industries is likely to drive the market in the upcoming years. Rising building and construction activities in nations like China and India will further boost the demand for DEG by the cement manufacturers, further augmenting its market in the forecast period.
Covid -19 Impact:
In 2020, due to the outbreak of COVID-19, The Diethylene Glycol market was severely affected around the globe. In terms of demand, the market showcased a downtrend due to the imposition of nationwide lockdowns and strict social distancing norms by leading authorities in several countries. Major end-use industries, including textiles, paint and coatings, automotive, and others, witnessed a downward trajectory due to the disruption in the supply chain of raw materials. The less availability of manpower has directly affected the production activities of these industries, thereby resulting in a decline in the demand for feedstock such as DEG.
Among different regions, the Asia Pacific region holds the largest share in the DEG market in 2020 and is likely to maintain its dominance until the next ten years. In emerging economies, growing industrialization along with Government spending on infrastructure development is expected to boost the demand for DEG, further propelling its market in the Asia Pacific region in the upcoming years. Rapidly increasing demand for polyester resins, polyurethanes, plasticizers, etc., from various downstream industries, including automotive, plastic, and others, will bolster the DEG market across the region. Infrastructure projects in the Asia Pacific region like the ‘Smart City Project’ are expected to drive the demand for Diethylene Glycol from the cement manufacturers in the future.
Market Players:
- Reliance Industries
- GC Glycol Company
- BASF SE
- Royal Dutch Shell PLC
- Huntsman International LLC
- India Glycol Limited
- Indian Oil Corporation
- SABIC
- Lyondell Basell Industries
- Mitsubishi Chemical Corporation
- Acuro Organics Limited
- Sibur
- Indorama LLC., and Others.
“The rapidly increasing demand for Diethylene Glycol from various end-use industries including agrochemicals, cosmetic and personal care, automotive, and others is likely to boost the DEG market across the world in the upcoming years. The increasing disposable income and rising industrialization around the world has led to a rise in the demand for DEG which will propel its market in the forecast period. The government expenditure on infrastructure activities in emerging nations is likely to augment the DEG market in the future.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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