# Glycol Market

> Glycol Market Research Report Information By Product (Ethylene Glycol and Propylene Glycol), By Application (Automotive, HVAC, Textiles, Airlines, Medical, Pipeline Maintenance, Polyester Fibers and Resins, Food and Beverage and Others), By End User (Automotive and Transportation, Packaging, Food and Beverage, Cosmetics, Pharmaceuticals, Textile and Other) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2035

- **Forecast Period:** 2025 - 2035
- **CAGR:** 7.3%
- **2024:** $ 47.43 Billion
- **2025:** $ 50.89 Billion
- **2035:** $ 102.97 Billion
- **Key Players:** BASF SE (DE), Dow Inc. (US), LyondellBasell Industries N.V. (US), SABIC (SA), Eastman Chemical Company (US), Huntsman Corporation (US), Ineos Group Limited (GB), Formosa Plastics Corporation (TW), Oxea GmbH (DE)

**Report ID:** MRFR/CnM/11088-HCR · **Pages:** 128 · **Author:** Chitranshi Jaiswal · **Last Updated:** April 06, 2026

**URL:** https://www.marketresearchfuture.com/reports/glycol-market-12611

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## Market Summary

## **Global Glycol Market Overview**

Glycol Market Size was valued at USD 47.43 Billion in 2024. The Glycol market industry is projected to grow from USD 50.89 Billion in 2025 to USD 95.96 Billion by 2034, exhibiting a compound annual growth rate (CAGR) of 7.3% during the forecast period (2025 - 2034). Increased demand for ethylene glycol (EG) in the automotive industry and the expanding use of propylene glycol (PG) in the food and beverage, pharmaceutical, and cosmetics sectors are the key market drivers enhancing the market growth.    

Source: Secondary Research, Primary Research, _Market Research Future_ Database and Analyst Review

## **Glycol Market Trends**

Market CAGR for glycol is being driven by the rising demand for [ethylene glycol](../../../reports/mono-ethylene-glycol-market-2709) (EG) in the automotive industry. EG is a vital ingredient in the formulation of engine coolants and antifreeze solutions. These products are essential for maintaining the optimal operating temperature of internal combustion engines, preventing freezing in cold climates, and protecting against overheating in hot conditions. With the global automotive industry continuously expanding, the requirement for engine coolants and antifreeze solutions remains consistently high.

The automotive sector has experienced substantial growth, particularly in emerging markets, as rising incomes and urbanization have led to increased vehicle ownership. As a result, the production of passenger cars, commercial vehicles, and other forms of transportation has been on the rise. This surge in automotive production directly correlates with the increased demand for EG. Governments worldwide have implemented stringent regulations aimed at reducing vehicle emissions and improving fuel efficiency. To comply with these regulations, automotive manufacturers are developing vehicles with more efficient engines that operate at higher temperatures.

This necessitates the use of high-quality EG-based coolants to ensure proper engine performance. The growing popularity of electric vehicles, which require effective thermal management for their batteries and electric drivetrains, has further fueled the demand for high-performance coolants and heat transfer fluids. EG-based solutions play a critical role in maintaining the temperature stability and performance of EVs, thus boosting EG consumption.

Beyond the initial fill-in new vehicles, the aftermarket for engine coolants and antifreeze solutions is substantial. Consumers regularly maintain and replace these fluids to ensure the longevity and efficient operation of their vehicles. This consistent need for aftermarket products contributes to ongoing EG demand. The automotive industry's global supply chain has expanded significantly, with manufacturing operations located in various regions. As a result, the glycol market benefits from this geographic diversity as EG is used in automotive production and maintenance worldwide.

Ongoing research and development efforts are focused on creating more advanced engine cooling solutions, including coolants with longer service life, improved corrosion protection, and enhanced heat transfer capabilities. These innovations stimulate the adoption of EG-based products in the automotive sector.

Further, the expanding use of propylene glycol (PG) in the food and beverage, pharmaceutical, and cosmetics sectors is also driving the market growth. PG is a versatile ingredient in these industries, serving as a non-toxic and food-grade heat transfer fluid, a humectant in personal care products, and a carrier for pharmaceuticals and flavorings, driving its market growth. Thus driving the Glycol market revenue.

## **Glycol Market Segment Insights**

### **Glycol Product Insights**

The Glycol Market segmentation, based on product, includes Ethylene Glycol and Propylene Glycol. The ethylene glycol segment dominates the market, accounting for the largest market revenue due to its extensive use in the automotive industry as a key component of engine coolant and antifreeze. Its excellent properties, such as low freezing point and high boiling point, make it a critical ingredient for maintaining engine temperature and preventing freezing or overheating.

The ever-growing global automotive sector, coupled with the need for reliable and efficient engine cooling solutions, ensures a sustained high demand for ethylene glycol and secures its dominant position in the glycol market. Further, the propylene glycol category is the second most common category as it has diverse applications, including its use as a food-grade heat transfer fluid, a humectant in personal care products, and a carrier for pharmaceuticals and flavorings.

**Figure 1: Glycol Market, by Product, 2022 & 2032 (USD Billion)**

Source: Secondary Research, Primary Research, _Market Research Future_ Database and Analyst Review

### **Glycol Application Insights**

The Glycol Market segmentation, based on application, includes Automotive, HVAC, Textiles, Airlines, Medical, Pipeline Maintenance, Polyester Fibers and Resins, Food and Beverage, and Others. The automotive category dominates the market due to its essential role in maintaining the optimal operating temperature of vehicles. Ethylene glycol and propylene glycol, commonly used as antifreeze and engine coolant, are critical components that protect engines from freezing in cold temperatures and overheating in hot conditions, ensuring reliable and efficient vehicle performance. With the ever-growing global automotive industry, a consistent demand for glycols in engine cooling systems solidifies their dominant position in the glycol market.

Further, the HVAC category is the second most common application as HVAC systems frequently utilize glycols, such as ethylene glycol and propylene glycol, as antifreeze agents to prevent freezing in chilled water systems and as heat transfer fluids in both heating and cooling processes.

### **Glycol End User Insights**

The Glycol Market segmentation, based on end users, includes Automotive and Transportation, Packaging, Food and Beverage, Cosmetics, Pharmaceuticals, Textile, and Others. The automotive and transportation category dominates the market as Glycols, particularly ethylene glycol, are extensively used as antifreeze and engine coolant in the automotive industry to prevent freezing and overheating, making this sector the largest consumer of glycols. Glycols are crucial for maintaining the temperature and performance of internal combustion engines, and their demand is closely tied to the production and maintenance of vehicles.

Further, the food and beverage industry is the second most common as glycols, especially propylene glycol (PG), are commonly used in the food and beverage sector as heat transfer fluids, humectants, and carriers for food additives, flavors, and colors. They play a crucial role in maintaining product quality, consistency, and safety in various food and beverage applications.

### **Glycol Regional Insights**

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Glycol market area dominates this market due to its robust industrial and automotive sectors, resulting in a high demand for ethylene glycol (EG) as an essential component in engine coolant and antifreeze. Additionally, the region's well-established chemical manufacturing infrastructure, stringent quality standards, and significant presence of key glycol producers further solidify its position as a primary hub for glycol production and consumption.

Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil

**Figure 2: GLYCOL MARKET SHARE BY REGION 2022 (USD Billion)**

Source: Secondary Research, Primary Research, _Market Research Future_ Database and Analyst Review

Europe's Glycol market accounts for the second-largest market share due to its increasing use in the pharmaceutical and cosmetics industries, where glycols, such as propylene glycol (PG), serve as crucial ingredients in various products, including pharmaceutical formulations and personal care items. Further, the German Glycol market held the largest market share, and the UK Glycol market was the fastest-growing market in the European region.

The Asia-Pacific Glycol Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the rapid expansion of the industrial and automotive sectors, coupled with increasing construction activities and a growing focus on advanced industrial processes. Moreover, China’s Glycol market held the largest market share, and the Indian Glycol market was the fastest-growing market in the Asia-Pacific region.

### **Glycol Key Market Players & Competitive Insights**

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Glycol market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Glycol industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Glycol industry to benefit clients and increase the market sector. In recent years, the Glycol industry has offered some of the most significant advantages to several industries.

Major players in the Glycol market, including Dow, LyondellBasell Industries N.V., BASF SE, ADM, Global Bio-chem Technology Group Company Limited, DuPont Tate & Lyle Bio Products, SKC, Temix Oleo, INEOS Oxide, Huntsman International LLC, ADEKA CORPORATION, Chaoyang Chemicals, Inc., Manali Petrochemicals Limited, Haike Chemical Group Co., Ltd., Arch Chemicals Inc., Repsol, and others, are attempting to increase market demand by investing in research and development operations.

LyondellBasell is a global chemical company known for its operations in the production of polyolefins, chemicals, and refining. LyondellBasell is a major player in the chemical industry, with a diversified product portfolio that includes polyethylene, polypropylene, chemicals, advanced polymers, and refining. They serve a wide range of industries, including packaging, automotive, construction, and electronics. LyondellBasell places a strong emphasis on research and innovation. They invest in research and development to develop new materials, technologies, and solutions for various industries. Their focus on innovation often involves creating advanced plastics and polymers.

In May 2023, LyondellBasell and Neste announced a partnership to develop and commercialize sustainable glycol products made from renewable feedstocks. The two companies will collaborate on the development of new technologies and the construction of new production facilities.

BASF is a diversified company that produces a wide range of chemical products and materials with a focus on innovation and technology. Their products are used in various industries, including automotive, construction, agriculture, pharmaceuticals, and consumer goods. The company produces a broad spectrum of chemicals, polymers, and specialty materials, including engineered materials, acetyl products, and other high-performance products. Their offerings include materials used in the manufacture of everything from automotive components to consumer electronics and medical devices.

In June 2023, BASF and INVISTA announced a partnership to develop and market a new generation of sustainable glycols. The two companies will combine their expertise in catalysis and technology to develop new processes for the production of glycol from renewable feedstocks.

## **Key Companies in the Glycol market include**

### **Glycol Industry Developments**

**July 2023:** Dow and Shell announced a partnership to develop and commercialize sustainable glycol technologies. The two companies will collaborate on research and development, as well as on the construction and operation of a commercial-scale sustainable glycol plant.

**August 2023:** Eastman Chemical announced the acquisition of Avantor Performance Materials' glycol business for $2.1 billion. This acquisition will expand Eastman's portfolio of glycol products and strengthen its position in the growing market for sustainable glycols.

**June 2023**: Saudi Basic Industries Corporation (SABIC) announced the acquisition of the ethylene oxide and ethylene glycol business of ExxonMobil Chemical for $1.5 billion. This acquisition is part of SABIC's strategy to expand its global presence and become a leading producer of ethylene glycol.

## **Glycol Market Segmentation**

### **Glycol Product Outlook**

### **Glycol Application Outlook**

### **Glycol End User Outlook**

### **Glycol Regional Outlook**

## Market Drivers

### Rising Demand in Automotive Sector

The Glycol Market experiences a notable surge in demand driven by the automotive sector. Glycols, particularly ethylene glycol and [propylene glycol](https://www.marketresearchfuture.com/reports/propylene-glycol-market-5957), are essential in the production of antifreeze and coolants, which are critical for vehicle performance and safety. As the automotive industry continues to evolve, with a focus on enhancing fuel efficiency and reducing emissions, the need for high-quality glycol products is likely to increase. In 2023, the automotive sector accounted for approximately 30% of the total glycol consumption, indicating a robust market presence. This trend is expected to persist, as manufacturers seek to meet stringent regulatory standards and consumer preferences for environmentally friendly solutions. Consequently, the Glycol Market is poised for growth, driven by innovations in automotive technologies and the increasing production of electric vehicles.

### Expansion in Chemical Manufacturing

The Glycol Market is significantly influenced by the expansion of chemical manufacturing processes. Glycols serve as vital intermediates in the production of various chemicals, including plastics, resins, and solvents. The increasing demand for these end-products, particularly in the construction and packaging sectors, suggests a corresponding rise in glycol consumption. In recent years, the chemical manufacturing sector has seen a compound annual growth rate (CAGR) of around 4%, which is expected to continue as industries seek to innovate and diversify their product offerings. This growth is likely to drive the demand for glycols, as manufacturers require reliable and efficient raw materials. As a result, the Glycol Market stands to benefit from the ongoing expansion and modernization of chemical production facilities worldwide.

### Growth in Personal Care and Cosmetics

The Glycol Market is also experiencing growth due to the increasing utilization of glycols in the personal care and cosmetics sector. Glycols, such as propylene glycol, are widely used as humectants, solvents, and emulsifiers in various cosmetic formulations. The Glycol Market has shown a steady growth trajectory, with an estimated value of over 500 billion USD in 2023. This growth is likely to drive the demand for glycols, as manufacturers seek to enhance product performance and consumer appeal. Additionally, the trend towards natural and organic products may further influence the Glycol Market, as companies explore innovative formulations that incorporate glycols derived from renewable sources. The intersection of consumer preferences and product efficacy positions glycols as essential components in the evolving personal care landscape.

### Technological Innovations in Production

Technological innovations play a crucial role in shaping the Glycol Market. Advances in production techniques, such as the development of more efficient catalytic processes and the integration of automation, are enhancing the overall efficiency and cost-effectiveness of glycol manufacturing. These innovations not only improve yield but also reduce energy consumption, aligning with the industry's sustainability goals. In recent years, the introduction of new technologies has led to a reduction in production costs by approximately 15%, making glycols more accessible to various industries. As manufacturers continue to adopt these cutting-edge technologies, the Glycol Market is likely to experience increased competitiveness and growth, driven by enhanced production capabilities and the ability to meet diverse customer needs.

### Increased Focus on Sustainable Practices

The Glycol Market is witnessing a shift towards sustainable practices, which is reshaping demand dynamics. As industries increasingly prioritize sustainability, the production and use of bio-based glycols are gaining traction. These renewable alternatives are derived from natural sources, reducing reliance on fossil fuels and minimizing environmental impact. In 2023, the market for bio-based glycols was valued at approximately 1 billion USD, reflecting a growing consumer preference for eco-friendly products. This trend is likely to accelerate as regulatory frameworks tighten and consumers become more environmentally conscious. Consequently, the Glycol Market is expected to adapt, with manufacturers investing in research and development to create sustainable glycol solutions that meet both market demands and environmental standards.

## Future Outlook

The Glycol Market is projected to grow at a 7.3% CAGR from 2025 to 2035, driven by increasing demand in automotive and industrial applications.

**New opportunities:**

- Expansion into bio-based glycol production facilities.
- Development of advanced glycol-based thermal fluids for renewable energy systems.
- Strategic partnerships with automotive manufacturers for integrated glycol solutions.

By 2035, the Glycol Market is expected to achieve robust growth, solidifying its position as a key industry player.

## Segment Insights

### By Product: Ethylene Glycol (Largest) vs. Propylene Glycol (Fastest-Growing)

In the Glycol Market, Ethylene Glycol holds a significant portion of the market share, dominating the segment due to its extensive applications in antifreeze, coolant formulations, and polyester fibers. This widespread usage places Ethylene Glycol as the go-to choice among manufacturers, contributing to its strong presence in the market. On the other hand, Propylene Glycol is increasingly gaining traction as industries recognize its importance in food, pharmaceuticals, and cosmetics, marking a notable distribution shift among consumers toward its safer and more versatile options. 

Growth trends indicate that the Ethylene Glycol market is stabilizing due to established applications, while Propylene Glycol is on an upward trajectory, driven by rising demand in various sectors, particularly food safety and environmental concerns. Sustainability initiatives and the push for bio-based products serve as catalysts for Propylene Glycol, facilitating its rapid expansion. Businesses are increasingly investing in the development of Propylene Glycol alternatives, showcasing the segment's potential for growth in applications that require non-toxic properties, thereby carving a niche in the Glycol Market.

Ethylene Glycol (Dominant) vs. Propylene Glycol (Emerging)

Ethylene Glycol is recognized as the dominant player within the Glycol Market due to its widespread utility and substantial production scale. This compound is primarily utilized in the automotive and textile industries, particularly for antifreeze solutions and the manufacture of polyethylene terephthalate (PET) fibers. Its established position leads to continuous investments and innovations aimed at enhancing production efficiency. On the other hand, Propylene Glycol is an emerging segment that holds promise in various end-use applications such as food grade, pharmaceuticals, and personal care products. Its non-toxic and safe characteristics make it a preferred option for diverse industries seeking safer alternatives. As market dynamics shift toward sustainable and eco-friendly solutions, the growth of Propylene Glycol is expected to accelerate, leading to increased competition with its Ethylene counterpart.

### By Application: Automotive (Largest) vs. HVAC (Fastest-Growing)

In the Glycol Market, the application segment shows a diverse distribution among several sectors. The automotive industry holds the largest share, dominating the market due to its critical reliance on glycols for antifreeze and coolant applications. Conversely, HVAC is rapidly climbing the ranks, experiencing significant growth as energy efficiency standards evolve, leading to increased demand for glycol-based heat transfer fluids.

Automotive (Dominant) vs. HVAC (Emerging)

The automotive sector's dominance in the Glycol Market stems from its extensive use of ethylene glycol and propylene glycol in various cooling systems. These glycols are essential in maintaining optimal engine temperatures and preventing freeze damage, making them indispensable in vehicle manufacturing. On the other hand, the HVAC market is emerging rapidly, driven by the increasing need for efficient heating and cooling solutions. The incorporation of glycols in HVAC systems enhances thermal performance and reduces energy consumption, making this segment a key player in the overall growth of the Glycol Market. As regulations tighten around energy efficiency, the HVAC segment is anticipated to witness robust growth.

### By End User: Automotive and Transportation (Largest) vs. Pharmaceuticals (Fastest-Growing)

Within the Glycol Market, the Automotive and Transportation segment holds a substantial share, primarily driven by the increasing use of glycol in antifreeze and coolant applications. This sector is prominent due to the growing automotive industry and the necessity for efficient thermal management systems. Meanwhile, the Pharmaceuticals segment, while smaller in comparison, is rapidly gaining traction as a significant user of glycol for its roles in drug formulation and preservation, suggesting a shifting landscape in end-user applications.

The growth trends in the Glycol Market for these segments are distinct. The automotive industry is primarily driven by technological advancements in vehicle manufacturing and an increase in vehicle production rates. Conversely, the Pharmaceuticals segment's growth is fueled by an uptick in health awareness and the expanding global healthcare sector. The demand for high-quality, safe compounds in drug production positions glycol as a critical component, indicating a potential future where pharmaceutical applications could rival automotive usage.

Automotive and Transportation: Dominant vs. Pharmaceuticals: Emerging

The Automotive and Transportation segment stands out as a dominant force in the Glycol Market, relying heavily on glycol's thermal properties for engine cooling and anti-freeze products. It benefits from the automotive industry's robust growth and innovation, as manufacturers increasingly adopt advanced materials. Meanwhile, the Pharmaceuticals segment is emerging, gaining importance due to the rising demand for biopharmaceuticals and the need for effective drug storage solutions. The versatility of glycol in medicinal applications, notably in solubility enhancement and stability, underscores its rising profile. As regulatory standards in pharmaceuticals tighten, the demand for high-purity glycol variants is anticipated to increase, further solidifying its role in this sector.

## Regional Market Share Analysis

### North America : Innovation and Demand Surge

The North American glycol market is driven by increasing demand from automotive, construction, and chemical industries. The region is the largest market, holding approximately 40% of the global share, with the U.S. being the primary contributor. Regulatory support for sustainable practices and the push for eco-friendly products are further catalyzing growth. The market is also witnessing a shift towards bio-based glycols, aligning with environmental regulations.

Leading countries in this region include the United States and Canada, with major players like Dow Inc. and BASF SE dominating the landscape. The competitive environment is characterized by innovation and strategic partnerships among key players. The presence of advanced manufacturing facilities and R&D centers enhances the region's capability to meet growing demand, ensuring a robust supply chain for glycol products.

### Europe : Sustainability and Innovation Focus

Europe is witnessing a significant transformation in the glycol market, driven by stringent environmental regulations and a strong emphasis on sustainability. The region holds approximately 30% of the global market share, with Germany and France being the largest contributors. Regulatory frameworks such as REACH are pushing manufacturers towards greener alternatives, fostering innovation in bio-based glycols and recycling technologies.

Germany, the UK, and France are leading countries in this market, with key players like BASF SE and Oxea GmbH at the forefront. The competitive landscape is marked by collaborations and investments in sustainable technologies. The presence of a well-established chemical industry and a focus on reducing carbon footprints are pivotal in shaping the market dynamics, ensuring a steady growth trajectory for glycol products.

### Asia-Pacific : Emerging Markets and Growth Potential

The Asia-Pacific region is rapidly emerging as a powerhouse in the glycol market, driven by industrialization and urbanization. This region holds approximately 25% of the global market share, with China and India being the largest markets. The increasing demand for glycols in automotive, textiles, and pharmaceuticals is propelling growth, supported by favorable government policies and investments in infrastructure.

China is the leading country in this market, with significant contributions from local manufacturers and multinational corporations. The competitive landscape is characterized by a mix of established players like LyondellBasell and emerging companies. The region's focus on expanding production capacities and enhancing supply chain efficiencies is crucial for meeting the rising demand for glycol products, positioning it for sustained growth in the coming years.

### Middle East and Africa : Resource-Rich and Growing Demand

The Middle East and Africa region is witnessing a gradual increase in glycol market demand, driven by the growing petrochemical industry and rising applications in various sectors. This region holds approximately 5% of the global market share, with Saudi Arabia and South Africa being the primary contributors. The availability of raw materials and government initiatives to boost industrial growth are key factors supporting market expansion.

Saudi Arabia is the leading country in this region, with major players like SABIC and Ineos Group Limited playing a significant role. The competitive landscape is evolving, with investments in new technologies and production facilities. The region's strategic location and resource availability position it well for future growth, as it seeks to diversify its economy and enhance its manufacturing capabilities.

## Competitive Benchmarking

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Glycol Market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Glycol industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Glycol industry to benefit clients and increase the market sector. In recent years, the Glycol industry has offered some of the most significant advantages to several industries.
Major players in the Glycol Market, including Dow, LyondellBasell Industries N.V., BASF SE, ADM, Global Bio-chem Technology Group Company Limited, DuPont Tate & Lyle Bio Products, SKC, Temix Oleo, INEOS Oxide, Huntsman International LLC, ADEKA CORPORATION, Chaoyang Chemicals, Inc., Manali Petrochemicals Limited, Haike Chemical Group Co., Ltd., Arch Chemicals Inc., Repsol, and others, are attempting to increase market demand by investing in research and development operations.
LyondellBasell is a global chemical company known for its operations in the production of polyolefins, chemicals, and refining. LyondellBasell is a major player in the chemical industry, with a diversified product portfolio that includes polyethylene, polypropylene, chemicals, advanced polymers, and refining. They serve a wide range of industries, including packaging, automotive, construction, and electronics. LyondellBasell places a strong emphasis on research and innovation. They invest in research and development to develop new materials, technologies, and solutions for various industries. Their focus on innovation often involves creating advanced plastics and polymers.
In May 2023, LyondellBasell and Neste announced a partnership to develop and commercialize sustainable glycol products made from renewable feedstocks. The two companies will collaborate on the development of new technologies and the construction of new production facilities.
BASF is a diversified company that produces a wide range of chemical products and materials with a focus on innovation and technology. Their products are used in various industries, including automotive, construction, agriculture, pharmaceuticals, and consumer goods. The company produces a broad spectrum of chemicals, polymers, and specialty materials, including engineered materials, acetyl products, and other high-performance products. Their offerings include materials used in the manufacture of everything from automotive components to consumer electronics and medical devices.
In June 2023, BASF and INVISTA announced a partnership to develop and market a new generation of sustainable glycols. The two companies will combine their expertise in catalysis and technology to develop new processes for the production of glycol from renewable feedstocks.

## Recent News & Developments

**July 2023:** Dow and Shell announced a partnership to develop and commercialize sustainable glycol technologies. The two companies will collaborate on research and development, as well as on the construction and operation of a commercial-scale sustainable glycol plant.

**August 2023:** Eastman Chemical announced the acquisition of Avantor Performance Materials' glycol business for $2.1 billion. This acquisition will expand Eastman's portfolio of glycol products and strengthen its position in the growing market for sustainable glycols.

**June 2023**: Saudi Basic Industries Corporation (SABIC) announced the acquisition of the ethylene oxide and ethylene glycol business of ExxonMobil Chemical for $1.5 billion. This acquisition is part of SABIC's strategy to expand its global presence and become a leading producer of ethylene glycol.

## Report Scope

| MARKET SIZE 2024 | 47.43(USD Billion) |
| --- | --- |
| MARKET SIZE 2025 | 50.89(USD Billion) |
| MARKET SIZE 2035 | 102.97(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 7.3% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| Market Forecast Period | 2025 - 2035 |
| Historical Data | 2019 - 2024 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | BASF SE (DE), Dow Inc. (US), LyondellBasell Industries N.V. (US), SABIC (SA), Eastman Chemical Company (US), Huntsman Corporation (US), Ineos Group Limited (GB), Formosa Plastics Corporation (TW), Oxea GmbH (DE) |
| Segments Covered | Product, Application, End User, Region |
| Key Market Opportunities | Growing demand for bio-based glycols driven by sustainability initiatives and regulatory support. |
| Key Market Dynamics | Rising demand for bio-based glycols driven by sustainability initiatives and regulatory pressures on traditional petrochemical sources. |
| Countries Covered | North America, Europe, APAC, South America, MEA |

## Frequently Asked Questions

**Q: What is the current valuation of the Glycol Market as of 2024?**
A: The Glycol Market was valued at 47.43 USD Billion in 2024.

**Q: What is the projected market size for the Glycol Market by 2035?**
A: The Glycol Market is projected to reach 102.97 USD Billion by 2035.

**Q: What is the expected CAGR for the Glycol Market during the forecast period 2025 - 2035?**
A: The expected CAGR for the Glycol Market during the forecast period 2025 - 2035 is 7.3%.

**Q: Which companies are considered key players in the Glycol Market?**
A: Key players in the Glycol Market include BASF SE, Dow Inc., LyondellBasell Industries N.V., SABIC, and Eastman Chemical Company.

**Q: What are the primary product segments in the Glycol Market?**
A: The primary product segments in the Glycol Market are Ethylene Glycol and Propylene Glycol, with valuations of 27.43 and 20.0 USD Billion respectively in 2024.

**Q: How does the Automotive sector contribute to the Glycol Market?**
A: The Automotive sector contributed 6.0 USD Billion to the Glycol Market in 2024, with projections of 13.0 USD Billion by 2035.

**Q: What is the valuation of the Food and Beverage application segment in the Glycol Market?**
A: The Food and Beverage application segment was valued at 5.0 USD Billion in 2024 and is expected to reach 10.0 USD Billion by 2035.

**Q: What is the significance of the Polyester Fibers and Resins segment in the Glycol Market?**
A: The Polyester Fibers and Resins segment was valued at 8.0 USD Billion in 2024, with a projected increase to 18.0 USD Billion by 2035.

**Q: How does the Pharmaceuticals end-user segment perform in the Glycol Market?**
A: The Pharmaceuticals end-user segment was valued at 6.0 USD Billion in 2024 and is anticipated to grow to 12.0 USD Billion by 2035.

**Q: What trends are observed in the Glycol Market's growth across different applications?**
A: The Glycol Market shows diverse growth across applications, with the HVAC segment projected to grow from 5.0 USD Billion in 2024 to 10.0 USD Billion by 2035.


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