Diethylene Glycol (DEG) Market
The Diethylene Glycol market growth is projected to grow at a staggering CAGR rate of 4.8% during the forecast period of 2021–2030. Also, the expected market valuation by the end of the period is compiled at USD 3.8 billion. These projections have been made after gaining deep market insights and the performance of the key market players across the globe.
Diethylene glycol is used as a plasticizer in the production of plastics such as polyurethane, which has emerged as a major driver for the global Diethylene Glycol Industry to the growing demand for polyurethane in a number of industrial applications. Polyurethane has become a popular material in the construction and automotive industries due to its benefits in terms of imparting solid insulation from environmental components. The growing scope of these industries is likely to be a major driver for the diethylene glycol market over the forecast period.
The use of diethylene glycol as a solvent for dyes, resins, paint pigments, etc. is also likely to be a major driver for the global diethylene glycol market over the forecast period. The growing textile industry in Asia Pacific is likely to play a major role in the development of the diethylene glycol market over the forecast period. The personal care product applications of diethylene glycol are also likely to play a major role in the growth of the global diethylene glycol market over the forecast period, due to the growing demand for personal care products such as skin creams, deodorants, and lotions. This is likely to be a major driver for the global diethylene glycol market over the forecast period due to the growing demand for personal care products in emerging regions around the world.
Other than these primary applications, the global diethylene glycol market is also likely to benefit significantly from the growing use of diethylene glycol in paper and pulp production operations, tobacco manufacturing, leather processing, and printing inks. Diethylene Propylene Glycol is used as a humectant in these applications.
Leading players in the global diethylene glycol market include Huntsman International LLC, DowDuPont Inc., Reliance Industries Limited, Tokyo Chemical Industry Co. Ltd., Merck KGaA, Crystal India, India Glycols Limited, Pon Pure Chemicals, Mitsubishi Chemical Corporation, SABIC, LyondellBasell Industries NV, and Royal Dutch Shell plc.
In April 2018, China raised anti-dumping tariffs on U.S. and European imports of diethylene glycol and ethylene glycol. This could become a significant issue for the global diethylene glycol market due to the prime importance of China as a consumer of diethylene glycol.
The global diethylene glycol Vendor Strategies has been segmented on the basis of application, end-use industry, and region.
On the basis of application, the global diethylene glycol market has been segmented into plasticizers, solvent, polyester resins, chemical intermediate, dehydrated, and personal care products. The plasticizer segment holds the largest share of the global diethylene glycol market, accounting for 35% of the market in 2017, and is likely to retain steady dominance over the forecast period. The solvent and polyester resins segments are also likely to retain major shares in the global diethylene glycol market over the forecast period.
By end-use industry, the global diethylene glycol market has been divided into building and construction, plastics, chemicals, paints and coatings, polymers, and others.
The global diethylene glycol market is expected to be dominated by Asia Pacific over the forecast period due to the growing demand for diethylene glycol from the automotive, building and construction, and chemical industries. Developing countries in Asia Pacific such as India, China, and South Korea are likely to emerge as major consumers of diethylene glycol over the forecast period due to the rapid rise in industrial activities and the growing demand from the construction industry.
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