According to the report published by Allied Market Research, the global diethylene glycol market generated $2.4 billion in 2020, and is expected to reach $3.8 billion by 2030, witnessing a CAGR of 4.8% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.
Increase in demand from cement, paints, and coatings industries and adoption in the plastic industry as a raw material drive the growth of the global diethylene glycol market. However, the toxic nature of diethylene glycol restrains the market growth. On the other hand, surge in patent registrations regarding the manufacturing of diethylene glycol, its derivatives, and their usage creates new opportunities in the coming years.
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Covid-19 Scenario:
- Production activities of diethylene glycol have been hampered completely or partially due to lockdown measures implemented in various countries. Moreover, lack of sufficient workforce to work in facilities hindered the production volumes despite partial continuation.
- The demand for diethylene glycol from various end-use industries such as plastic, paints & coatings, cement, and others decreased considerably due to stoppage of day-to-day operations in these industries during the Covid-19 pandemic.
- The demand is expected to rise during the post-lockdown as governments lift lockdown restrictions and these industries begin their operations with full capacities.
The report offers detailed segmentation of the global diethylene glycol market based on application, end-use industry, and region.
Based on application, the plasticizer segment contributed to the highest market share in 2020, holding more than one-fourth of the total share, and is expected to maintain its dominance in terms of revenue during the forecast period. However, the chemical intermediate segment is projected to portray the highest CAGR of 6.4% from 2021 to 2030.
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Based on end-use industry, the plastic industry segment held the highest share in 2020, accounting for around one-fourth of the global diethylene glycol market, and is estimated to maintain its lead position during the forecast period. However, the paints & coatings segment is projected to manifest the largest CAGR of 5.7% from 2021 to 2030.
Based on region, Asia-Pacific accounted for the largest market share in 2020, contributing to around two-fifths of the total share, and is estimated to maintain its leadership status by 2030. Moreover, this segment is expected to witness the fastest CAGR of 5.2% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading players of the global diethylene glycol market analyzed in the research include Reliance Industries, BASF SE, GC Glycol Company, Huntsman International LLC, Royal Dutch Shell PLC, India Glycol Limited, SABIC, Indian Oil Corporation, Lyondell Basell Industries, and Mitsubishi Chemical Corporation.