Diethylene Glycol Market Overview
The Diethylene Glycol market growth is projected to grow at a staggering CAGR rate of 4.8% during the forecast period of 2021-2030. Also, the expected market valuation by the end of the period is compiled at USD 3.8 billion. These projections have been made after gaining deep market insights and the performance of the key market players across the globe.
Diethylene glycol (DEG) can be understood in the form of a chemical that has its synthesis by conducting the partial hydrolysis of the ethylene oxide compound. This is a colorless substance that goes low on viscosity and can be recognized as a low volatile liquid that has a sweet taste. This compound dissolves fully in substances like water, alcohol, organic solvents, and acetone. Therefore, this product has wide use in the form of a solvent across various industry uses like textile dyes and paint pigments alongside resins, printing process, and oils.
Also, this is gaining recognition as raw material and is being used for manufacturing products like polyester resigns, thermoplastic polyurethanes, and plasticizers. Also, the paper and pulp industry is recognizing a vibrant use of this product alongside other industries like tobacco manufacturers and leather processing, which will positively impact the market operations by the end of the forecast period in 2030.
COVID 19 Analysis
Since the declaration of the pandemic as a public healthcare emergency, many businesses and production units are facing a lot of troubles. The diethylene glycol production and manufacturing activities have been hampered due to strict functional restrictions and lockdown imposition. The unavailability of the workforce due to the pandemic is further hurting the production volumes that are hindering the smooth functioning of the supply chain mechanism amongst the global market. The pandemic has led to a decrease in production activities, resulting in bringing down the demand for market products like plastics and paint coatings, amongst others.
The government is investing in research and development initiatives and is also collaborating with prominent market players to develop products and launch them on a large scale to help the market reach its defined objectives during the forecasted period.
The most prominent major key players in the diethylene glycol market all across the globe are mentioned below:
Global Diethylene Glycol (DEG) Market Share, by Application, 2017 (%)
Diethylene glycol has been listed in the Inventory of Cosmetic Ingredients (EC) and has been recognized both as a solvent and viscosity controller. Also, it has approved use for perfumes and other aromatic raw materials. This will help the market grow during the forecasted period. Additionally, the market is witnessing an increased demand for cement and paints, which is pushing the industries towards growth. The adoption of plastic in the form of raw materials for production will support the market's global growth during the forecast period that ends in 2030. Further, the derivates and wide usage of patent registrations present growth opportunities for the market.
The market is witnessing a surge in patent registrations concerning the large-scale manufacturing of diethylene glycol but, related concerns like the toxic nature are likely to hamper the market from growing as per the prediction during the ongoing forecast period that ends in 2030.
The substantial use of the DEG product across various production units of different companies has great opportunities for the market in-store. Acting as a chemical intermediate, the demand for the product will increase in the coming years. Also, the product has properties like its low volatility alongside excellent hygroscopicity. It will benefit from expanding market operations and letting the DEG product emerge as a reliable gas drying agent during the ongoing forecast period. Moreover, the market is home to business strategies due to factors like plastics use amongst major industry product end-users.
The diethylene glycol market has been divided all across the globe based on the application, end-user industry, and region.
Based on the Application
The market has been divided all across the globe based on the application into personal care, chemical intermediate, polyester resin, solvent, plasticizer, and many others.
Based on the End-User Industry
The market has been divided all across the globe based on the end-user industry into polymers, coatings, paints, chemicals, plastics, building and construction, and others.
Based on the Region
The market has been divided all across the globe based on the region into the Latin American region, North American region, Asia-Pacific region, European region, and the Middle East and African region.
The market has been divided all across the globe based on the region into the Latin American region, North American region, Asia-Pacific region, European region, and the Middle East and African region. The largest market share is held by the Asia-Pacific region owing to increasing demand for various end-user industries like building & construction, chemicals, and the automotive industry. The various major market segments for DEG are the South Korean market, Chinese market, and Indian market. In addition, increasing urbanization and industrialization boost the growth of the construction industry.
The second-largest market share is held by the European region owing to increasing demand for the automotive and textile dyes industry. In addition, increasing demand for organic solvents is another major factor that drives the market growth.
The North American region holds the third-largest market share. This region is the leading producer of natural gas, coupled with positive growth for the automotive market drives the market demand.
The Latin American and the Middle East, and African regions account for moderate growth rates due to stagnant economic development in these regions.
These major key players use various strategies to sustain their market position in the diethylene glycol treatment market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new production process, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the diethylene glycol treatment all across the globe.
This global diethylene glycol market research report consists of the following elements mentioned below:
This market research report contains factors that drive the growth of the diethylene glycol treatment market in the global market and the factors that restrict its growth in the global market. The technical analysis for the growth estimation during the forecasted period is mentioned. The impact of COVID 19 on the sales revenue of the diethylene glycol treatment market all across the globe is mentioned. The future growth rates during the forecasted period are estimated and mentioned. This report provides an insight about the market drivers and restraints to help in getting a better understanding and plan the future strategies.
|Market Size||2030 : USD 3.8 billion|
|CAGR||CAGR of 4.8% (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application, End-Use Industries|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||India Glycols Limited (India),Crystal India (India),Pon Pure Chemicals (India),Merck KGaA (Germany),Mitsubishi Chemical Corporation (Japan),Tokyo Chemical Industry Co. Ltd (Japan),SABIC (Saudi Arabia),Reliance Industries Limited (India),LyondellBasell Industries NV (Netherlands),DowDuPont Inc. (US),Royal Dutch Shell PLC (Netherlands),Huntsman International LLC (US)|
|Key Market Opportunities||derivates and wide usage of patent registrations|
|Key Market Drivers||increased demand for cement and paints|
Diethylene Glycol (DEG) Market is predicted to grow at 4.8% through forecast period of 2021-2030.
The forecast period for Diethylene Glycol (DEG) Market research report is 2021-2030.
Diethylene Glycol (DEG) Market is dominated by APAC region.
The major players are India Glycols Limited (India), Crystal India (India), Pon Pure Chemicals (India), Merck KGaA (Germany), Mitsubishi Chemical Corporation (Japan),Tokyo Chemical Industry Co. Ltd (Japan), SABIC (Saudi Arabia), Reliance Industries Limited (India), LyondellBasell Industries NV (Netherlands), DowDuPont Inc. (US), Royal Dutch Shell PLC (Netherlands), Huntsman International LLC (US)