Ethylene Glycol Market Key Highlights:
- Market Size (2024): USD 40.02 Billion
- Projected Market Size (2034): USD 76.55 Billion
- CAGR (2024-2034): 6.7%
Pricing Analysis:
- Price Growth
- Regional Variations
Volume Analysis:
Import-Export Data
- Major Importers
- Major Exporters
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Price by Manufacturer
- Examination of pricing strategies adopted by various manufacturers.
Ethylene Glycol Market Definition
Ethylene glycol (EG) is a colorless and odorless liquid that is mostly applied in industries. It provides a wide range of uses across sectors including polymer and plastic, automobile, chemical, paint and coatings, and other industries. The increasing ethylene glycol market for its production due to productivity in technology has led to cheaper production.
Gulf Petrochemicals & Chemicals Association (GPCA) reported that market demand for ethylene derivatives from essential consumption areas is increasing. The packing industry single-handedly accounts for almost 45% of plastic resin demand (Polyethylene, Polystyrenes, PVC, PET) all over the world. The worldwide packaging market is estimated to expand at a rate of 4% per annum till 2025 primarily because of the larger use of plastic packaging in food and beverages, and personal care, healthcare, and consumer electronics segments. Ethylene is one of the most crucial raw materials for manufacturing ethylene glycol.
The continuously rising usage of bio-based ethylene glycol that is less hazardous to nature creates future opportunities for the ethylene glycol market. Many firms are currently engaging in a kind of strategic alliance with their customers and have adopted new technologies to capture their needs hence developing new product development and enhanced production techniques. In March 2024, Dow Inc. shared an investment plan for increasing ethylene derivatives capacity in the U.S. including carbonate solvents, an essential component of lithium batteries. The company was able to expand capacity in the U.S. Gulf Coast and Europe which have come online in the last two years.
Ethylene Glycol Market Segmentation:
By Product Type
- Monoethylene Glycol (MEG)
- Diethylene Glycol (DEG)
- Triethylene Glycol (TEG)
By End Use Industry
- Textile Industry
- Automotive Industry
- Healthcare and Pharmaceuticals
- Industrial Applications
- Chemical Industry
- Packaging Industry
- Construction Industry
- Others
Ethylene Glycol Market Companies:
- Reliance Industries Limited
- Shell Chemical
- Sinopec
- SABIC
- BASF SE
- Indian Oil Corp
- Ineos Group Limited
- Dow Chemical
- LG Chem Ltd.
- LyondellBasell Industries
- Mitsubishi Chemical Corporation
- LOTTE Chemical Corp.
- Eastman Chemical Company
- Nan Ya Plastics
- Formosa Plastics Corporation
- PETRONAS Chemicals Group
- Nippon Shokubai Co., Ltd.
- MEGlobal (EQUATE)
- Other Key Players
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