logo

Glycol Market Size (2024 - 2029)

The Glycol Market is projected to experience significant growth over the forecast period, driven by increasing demand in sectors such as polyester films and PU adhesives, particularly from China's textile industry. Despite challenges posed by the COVID-19 pandemic, which disrupted supply chains and production, the market is expected to expand, with the Asia-Pacific region leading in market size and growth due to rising consumption in countries like China, India, and Japan. The emergence of bio-based glycols presents additional opportunities for market expansion.

Home Market Analysis Chemicals & Materials Research Commodity Chemicals Research Aromatics and Intermediates Research Chemical Intermediates Research Glycol Research Glycol Market Market Size

Market Size of Glycol Industry

Glycol Market Summary
Study Period 2019 - 2029
Market Volume (2024) 46.10 Million tons
Market Volume (2029) 60.82 Million tons
CAGR (2024 - 2029) 5.70 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

Glycol Market Major Players

*Disclaimer: Major Players sorted in no particular order

Glycol Market Analysis

The Glycol Market size is estimated at 46.10 Million tons in 2024, and is expected to reach 60.82 Million tons by 2029, growing at a CAGR of 5.70% during the forecast period (2024-2029).

In 2020, the COVID-19 pandemic triggered nationwide lockdowns and social distancing measures, disrupting supply chains and shuttering numerous manufacturing sectors. This adversely affected the glycol market. However, the market recovered in 2021, and it is expected to grow steadily during the forecast period.

  • Over the short term, increasing usage in the textile industry and growing demand from the food and beverage sector are the major factors driving the demand for the market studied.
  • However, toxicity and environmental concerns are expected to hinder the market's growth.
  • Nevertheless, increasing demand for bio-based glycols is expected to create new opportunities for the market studied.
  • Asia-Pacific is expected to dominate the global market, with the majority of demand coming from China, India, and Japan.

Glycol Industry Segmentation

Glycol, a member of the alcohol family, consists of chemical compounds characterized by two hydroxyl (OH) groups attached to separate carbon atoms. The term "glycol" often refers to its simplest form, ethylene glycol. This compound is a colorless, odorless, and flammable liquid with a sweet taste and viscous texture. While it finds extensive applications across diverse sectors, ranging from automotive and packaging to pharmaceuticals, food and beverage processing, textiles, etc., it is essential to note that high concentrations can be toxic to humans.

The glycol market is segmented by type, end-user industry, and geography. By type, the market is segmented into ethylene glycol (monoethylene glycol (MEG), diethylene glycol (DEG), triethylene glycol (TEG), and polyethylene glycol (PEG)), propylene glycol, and other types. By end-user industry, the market is segmented into automotive and transportation, packaging, food and beverage, cosmetics, pharmaceuticals, textiles, and other end-user industries. The report also covers the market sizes and forecasts for the global glycol market in 27 countries across major regions. For each segment, the market sizing and forecasts are based on volume in tons.

By Type
Ethylene Glycol
Monoethylene Glycol (MEG)
Diethylene Glycol (DEG)
Triethylene Glycol (TEG)
Polyethylene Glycol (PEG)
Propylene Glycol
Other Types
By End-user Industry
Automotive and Transportation
Packaging
Food and Beverage
Cosmetics
Pharmaceuticals
Textile
Other End-user Industries
By Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
NORDIC Countries
Turkey
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
Qatar
United Arab Emirates
Nigeria
Egypt
South Africa
Rest of Middle East and Africa
Need A Different Region Or Segment?
Customize Now

Glycol Market Size Summary

The glycol market is poised for significant growth over the forecast period, driven by increasing demand across various industries. The market is experiencing a resurgence as the effects of the COVID-19 pandemic, which had disrupted supply chains and production, begin to wane. Key drivers of market expansion include the rising consumption of ethylene glycol in China's textile industry and the growing demand for polyester films and polyurethane adhesives. Despite challenges such as the toxicity of ethylene glycol and lingering pandemic-related issues, the market is expected to benefit from the increasing popularity of bio-based glycols. The Asia-Pacific region, particularly countries like China, India, and Japan, is anticipated to dominate the market, fueled by robust demand from sectors such as packaging, automotive, and textiles.

The glycol market's growth is further supported by its extensive application in producing polyester fibers, glycol ethers, and as an anti-freezing agent in automotive radiators. The Asia-Pacific region's burgeoning e-commerce and food processing industries, along with the expanding cosmetics market, are expected to contribute significantly to market demand. The region's packaging sector, driven by the rise in packaged food consumption and fast-moving consumer goods, also presents substantial growth opportunities. Additionally, the pharmaceutical industry's expansion in India and the increasing production of automobiles in China are likely to bolster the glycol market. The market remains fragmented, with major players like Shell PLC, MEGlobal International FZE, and Indorama Ventures Public Company Limited playing pivotal roles in shaping its trajectory.

Explore More

Glycol Market Size - Table of Contents

  1. 1. Market Dynamics

    1. 1.1 Drivers

      1. 1.1.1 Increasing Usage in the Textile Industry

      2. 1.1.2 Growing Demand from the Food and Beverage Sector

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Toxicity and Environmental Concerns

      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 By Type

      1. 2.1.1 Ethylene Glycol

        1. 2.1.1.1 Monoethylene Glycol (MEG)

        2. 2.1.1.2 Diethylene Glycol (DEG)

        3. 2.1.1.3 Triethylene Glycol (TEG)

        4. 2.1.1.4 Polyethylene Glycol (PEG)

      2. 2.1.2 Propylene Glycol

      3. 2.1.3 Other Types

    2. 2.2 By End-user Industry

      1. 2.2.1 Automotive and Transportation

      2. 2.2.2 Packaging

      3. 2.2.3 Food and Beverage

      4. 2.2.4 Cosmetics

      5. 2.2.5 Pharmaceuticals

      6. 2.2.6 Textile

      7. 2.2.7 Other End-user Industries

    3. 2.3 By 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 Malaysia

        6. 2.3.1.6 Thailand

        7. 2.3.1.7 Indonesia

        8. 2.3.1.8 Vietnam

        9. 2.3.1.9 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 France

        4. 2.3.3.4 Italy

        5. 2.3.3.5 Spain

        6. 2.3.3.6 NORDIC Countries

        7. 2.3.3.7 Turkey

        8. 2.3.3.8 Russia

        9. 2.3.3.9 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 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 Qatar

        3. 2.3.5.3 United Arab Emirates

        4. 2.3.5.4 Nigeria

        5. 2.3.5.5 Egypt

        6. 2.3.5.6 South Africa

        7. 2.3.5.7 Rest of Middle East and Africa

Glycol Market Size FAQs

The Glycol Market size is expected to reach 46.10 million tons in 2024 and grow at a CAGR of 5.70% to reach 60.82 million tons by 2029.

In 2024, the Glycol Market size is expected to reach 46.10 million tons.

Glycol Market Report Snapshots

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