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Diethylene Glycol (DEG) Market Size (2024 - 2029)

The diethylene glycol market is projected to experience significant growth over the forecast period, driven by increasing demand from the construction and paints and coatings industries in emerging economies. Despite challenges such as regulatory restrictions due to toxicity and volatile raw material prices, the market is poised for expansion, particularly as diethylene glycol gains traction as a chemical intermediate in sectors like PET resins and textiles. The Asia-Pacific region is expected to lead in market growth, fueled by infrastructure development and rapid industrialization.

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Market Size of Diethylene Glycol (DEG) Industry

Diethylene Glycol (DEG) Market Summary
Study Period 2019 - 2029
Market Volume (2024) 6.10 Million tons
Market Volume (2029) 8.83 Million tons
CAGR (2024 - 2029) 7.70 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Diethylene Glycol (DEG) Market Major Players

*Disclaimer: Major Players sorted in no particular order

Diethylene Glycol (DEG) Market Analysis

The Diethylene Glycol Market size is estimated at 6.10 Million tons in 2024, and is expected to reach 8.83 Million tons by 2029, growing at a CAGR of 7.70% during the forecast period (2024-2029).

The COVID-19 pandemic negatively impacted the market. It was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.

  • Over the short term, increasing demand from the construction and paints and coatings industries in emerging economies such as India and China are factors driving the market's growth.
  • On the flip side, regulations restricting DEG use due to its toxic nature and volatile prices of raw materials are some of the factors restraining the growth of the market studied.
  • However, increasing demand for diethylene glycol as a chemical intermediate in the chemical industry due to increased downstream uses in PET resins and the textile industry are the major opportunities to drive the market in the future.
  • The Asia-Pacific region dominates the world and will be the fastest-growing market due to increased infrastructure development and rapid industrialization.

Diethylene Glycol (DEG) Industry Segmentation

Diethylene glycol is an organic compound that is colorless and odorless. It is a widely used solvent and is miscible in water, alcohol, ether, and ethylene glycol. It is also used as an antifreeze and in lubricants. The diethylene glycol market is segmented by application, end-user industry, and geography. The market is segmented by application into plasticizers, personal care, chemical intermediates, lubricant, and other applications. By end-user industry, the market is segmented into plastics, agrochemicals, cosmetic and personal care, paints and coatings, and other end-user industries. The report also covers the market sizes and forecasts for the diethylene glycol (DEG) market in 15 countries across the major region. Each segment's market sizing and forecasts are based on volume (kilotons).

Application
Plasticizers
Personal Care
Chemical Intermediates
Lubricant
Other Applications (Solvent, etc.)
End-user Industry
Plastics
Agrochemicals
Cosmetic and Personal Care
Paints and Coatings
Other End-user Industries (Textiles, Oil and Gas, etc.)
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Diethylene Glycol (DEG) Market Size Summary

The diethylene glycol market is poised for significant growth over the forecast period, driven by increasing demand from various industries such as construction, paints, coatings, and plastics. The market, which experienced setbacks due to the COVID-19 pandemic, has shown resilience and is expected to expand steadily. The Asia-Pacific region, particularly China and India, is anticipated to be the fastest-growing market due to rapid industrialization and infrastructure development. The rising use of diethylene glycol as a chemical intermediate in the production of PET resins and textiles presents substantial opportunities for market expansion. However, regulatory challenges and fluctuating raw material prices pose potential constraints to growth.

Diethylene glycol's versatility as a raw material in producing plasticizers and its application in polyurethane production for insulation and automotive coatings are key factors driving its demand. The automotive industry's growth, particularly in China and the United States, is expected to further boost the market. Additionally, the increasing production of plastic products in China underscores the region's dominance in the global market. The market's fragmented nature is characterized by the presence of major players like Reliance Industries, SABIC, and Dow, who are actively expanding their global footprint. Recent developments, such as Nippon Shokubai's ISCC PLUS certification and PTT Global Chemical's acquisition of GC Glycol, highlight ongoing efforts to enhance sustainability and expand market reach.

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Diethylene Glycol (DEG) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rising Plastic Demand from Various Industries

      2. 1.1.2 Increasing Demand in Paints and Coatings

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Toxic Nature of Diethylene Glycol

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Application

      1. 2.1.1 Plasticizers

      2. 2.1.2 Personal Care

      3. 2.1.3 Chemical Intermediates

      4. 2.1.4 Lubricant

      5. 2.1.5 Other Applications (Solvent, etc.)

    2. 2.2 End-user Industry

      1. 2.2.1 Plastics

      2. 2.2.2 Agrochemicals

      3. 2.2.3 Cosmetic and Personal Care

      4. 2.2.4 Paints and Coatings

      5. 2.2.5 Other End-user Industries (Textiles, Oil and Gas, etc.)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle-East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle-East and Africa

Diethylene Glycol (DEG) Market Size FAQs

The Diethylene Glycol (DEG) Market size is expected to reach 6.10 million tons in 2024 and grow at a CAGR of 7.70% to reach 8.83 million tons by 2029.

In 2024, the Diethylene Glycol (DEG) Market size is expected to reach 6.10 million tons.

Diethylene Glycol (DEG) Market Report Snapshots

Diethylene Glycol Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)