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The Diethylene Glycol (DEG) market is subject to a variety of factors that collectively shape its dynamics. Understanding these elements is crucial for industry participants to make informed decisions and navigate the market effectively.
End-Use Industries:
Diethylene Glycol serves as a versatile chemical with applications in various industries, including textiles, plastics, and pharmaceuticals.
The health and growth of these end-use industries significantly influence the demand for DEG, making it essential for manufacturers to monitor industry trends.
Polyester Fiber and Resin Production:
A significant portion of Diethylene Glycol is used in the production of polyester fibers and resins.
Market dynamics are closely tied to the demand for polyester-based products, such as textiles and packaging materials, with fluctuations in this sector affecting DEG consumption.
Plasticizers and Solvents:
DEG is utilized as a plasticizer in the manufacturing of plastics and as a solvent in various applications.
Trends in the plastics and solvents industries directly impact DEG demand, with changes in manufacturing practices influencing market dynamics.
Pharmaceuticals and Personal Care Products:
Diethylene Glycol is employed in the pharmaceutical and personal care industries for applications such as antifreeze solutions and humectants.
The demand for pharmaceutical and personal care products contributes to the overall market for DEG, with growth in these sectors positively impacting market dynamics.
Global Economic Conditions:
Economic stability and growth rates in major economies influence industrial activities and consumer spending, directly impacting the demand for DEG.
Economic downturns may lead to reduced production and consumption of DEG-related products, affecting the overall market.
Raw Material Prices:
DEG production relies on raw materials such as ethylene oxide, and fluctuations in the prices of these raw materials impact production costs.
Changes in global ethylene oxide prices, influenced by factors such as supply and demand dynamics, geopolitical events, and trade policies, contribute to DEG market volatility.
Environmental and Regulatory Considerations:
Stringent environmental regulations impact the DEG industry, particularly in terms of emissions control and waste management.
Compliance with environmental standards is crucial for DEG manufacturers to ensure sustainable operations and meet regulatory requirements.
Emerging Applications:
Ongoing research and development lead to emerging applications for DEG, such as in the production of fuel cells and energy storage devices.
Companies that invest in exploring and capitalizing on new applications contribute to the evolution of the DEG market.
Technological Advances:
Advancements in DEG production technologies can enhance efficiency, reduce costs, and improve the quality of the final product.
Companies investing in innovative production processes and technologies gain a competitive edge in the market by offering superior products and cost-effective solutions.
Global Trade Dynamics:
DEG is a globally traded commodity, and changes in trade policies, tariffs, and geopolitical tensions can impact international trade and pricing.
Market participants need to stay informed about global trade dynamics to anticipate potential disruptions and adapt their strategies accordingly.
Consumer Preferences for Sustainable Products:
Growing consumer awareness of sustainability influences the choice of raw materials and production processes in various industries.
DEG manufacturers incorporating sustainable practices and promoting eco-friendly applications of their products can gain a competitive advantage.
Supply Chain Resilience:
The resilience of the DEG supply chain is crucial for market stability, considering potential disruptions due to events such as natural disasters or geopolitical issues.
Diversifying supply chain sources and implementing robust risk management strategies become essential for market participants.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | of 4.8% (2022-2030 |
Diethylene Glycol (DEG) Market Highlights:
Diethylene Glycol Market Overview
The global Diethylene glycol Market industry is expected to register a CAGR of 4.8% during the forecast period 2024- 2032 hold a value of over USD 163.79 Billion by 2022 to USD 400.43 Billion by 2030. These projections have been made after gaining deep market insights and the performance of the key market players across the globe.
Diethylene glycol (DEG) can be understood in the form of a chemical that has its synthesis by conducting the partial hydrolysis of the ethylene oxide compound. This is a colorless substance that goes low on viscosity and can be recognized as a low volatile liquid that has a sweet taste. This compound dissolves fully in substances like water, alcohol, organic solvents, and acetone. Therefore, this product has wide use in the form of a solvent across various industry uses like textile dyes and paint pigments alongside resins, printing process, and oils.
Also, this is gaining recognition as raw material and is being used for manufacturing products like polyester resigns, thermoplastic polyurethanes, and plasticizers. Also, the paper and pulp industry is recognizing a vibrant use of this product alongside other industries like tobacco manufacturers and leather processing, which will positively impact the market operations by the end of the forecast period in 2030.
COVID 19 Analysis
Since the declaration of the pandemic as a public healthcare emergency, many businesses and production units are facing a lot of troubles. The diethylene glycol production and manufacturing activities have been hampered due to strict functional restrictions and lockdown imposition. The unavailability of the workforce due to the pandemic is further hurting the production volumes that are hindering the smooth functioning of the supply chain mechanism amongst the global market. The pandemic has led to a decrease in production activities, resulting in bringing down the demand for market products like plastics and paint coatings, amongst others.
The government is investing in research and development initiatives and is also collaborating with prominent market players to develop products and launch them on a large scale to help the market reach its defined objectives during the forecasted period.
Competitive Landscape
The most prominent major key players in the diethylene glycol market all across the globe are mentioned below:
- India Glycols Limited (India)
- Crystal India (India)
- Pon Pure Chemicals (India)
- Merck KGaA (Germany)
- Mitsubishi Chemical Corporation (Japan)
- Tokyo Chemical Industry Co. Ltd (Japan)
- SABIC (Saudi Arabia)
- Reliance Industries Limited (India)
- LyondellBasell Industries NV (Netherlands)
- DowDuPont Inc. (US)
- Royal Dutch Shell PLC (Netherlands)
- Huntsman International LLC (US)
Global Diethylene Glycol (DEG) Market Share, by Application, 2017 (%)
Market Dynamics
Drivers
Diethylene glycol has been listed in the Inventory of Cosmetic Ingredients (EC) and has been recognized both as a solvent and viscosity controller. Also, it has approved use for perfumes and other aromatic raw materials. This will help the market grow during the forecasted period. Additionally, the market is witnessing an increased demand for cement and paints, which is pushing the industries towards growth. The adoption of plastic in the form of raw materials for production will support the market's global growth during the forecast period that ends in 2030. Further, the derivates and wide usage of patent registrations present growth opportunities for the market.
Restraints
The market is witnessing a surge in patent registrations concerning the large-scale manufacturing of diethylene glycol but, related concerns like the toxic nature are likely to hamper the market from growing as per the prediction during the ongoing forecast period that ends in 2030.
Technology Analysis
The substantial use of the DEG product across various production units of different companies has great opportunities for the market in-store. Acting as a chemical intermediate, the demand for the product will increase in the coming years. Also, the product has properties like its low volatility alongside excellent hygroscopicity. It will benefit from expanding market operations and letting the DEG product emerge as a reliable gas drying agent during the ongoing forecast period. Moreover, the market is home to business strategies due to factors like plastics use amongst major industry product end-users.
Study Objectives
- To get the market insights through the overview and gather the experts' viewpoints and market players predict the market growing post the impact on the pandemic on the market operations.
- To analyze the futuristic scope of the market during the forecast period of 2021-2030 by noticing the functioning of the market segments across various global locations.
- To draw a competitive market graph amongst the key market players by considering their recent developments, strategies, and planning for growth, alongside the market's scale during the forecasted period.
Segment Overview
The diethylene glycol market has been divided all across the globe based on the application, end-user industry, and region.
Based on the Application
The market has been divided all across the globe based on the application into personal care, chemical intermediate, polyester resin, solvent, plasticizer, and many others.
Based on the End-User Industry
The market has been divided all across the globe based on the end-user industry into polymers, coatings, paints, chemicals, plastics, building and construction, and others.
Based on the Region
The market has been divided all across the globe based on the region into the Latin American region, North American region, Asia-Pacific region, European region, and the Middle East and African region.
Regional Analysis
The market has been divided all across the globe based on the region into the Latin American region, North American region, Asia-Pacific region, European region, and the Middle East and African region. The largest market share is held by the Asia-Pacific region owing to increasing demand for various end-user industries like building & construction, chemicals, and the automotive industry. The various major market segments for DEG are the South Korean market, Chinese market, and Indian market. In addition, increasing urbanization and industrialization boost the growth of the construction industry.
The second-largest market share is held by the European region owing to increasing demand for the automotive and textile dyes industry. In addition, increasing demand for organic solvents is another major factor that drives the market growth.
The North American region holds the third-largest market share. This region is the leading producer of natural gas, coupled with positive growth for the automotive market drives the market demand.
The Latin American and the Middle East, and African regions account for moderate growth rates due to stagnant economic development in these regions.
These major key players use various strategies to sustain their market position in the diethylene glycol treatment market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new production process, developing a new product line, innovation in the existing product, and many others to expand their customer base in the untapped market of the diethylene glycol treatment all across the globe.
Recent Developments
- December 2021- Reliance Industries Ltd. (RIL), a prominent player in the diethylene glycol production, in association with a partner, are the ones among those bidding to take over bankrupt textile firm Sintex Industries Ltd. RIL is set to collaborate with Assets Care & Reconstruction Enterprises Ltd. to bid for Sintex Industries as per the court-designated bankruptcy resolution procedure. Other bidders include Himatsingka Ventures Pvt. and GHCL Ltd. Easygo Textiles Pvt. that is operating with Dinesh Kumar and Shrikant Himatsingka. Sintex Industries said in the filing that the Resolutions Plans received will be examined by the Interim Resolution Professional and then will be brought before the Committee of Creditors for its future approval. This stance by the RIL is only the second time it has shown interest in an insolvent company. Sintex offers fabric to global fashion brands, including Hugo Boss, Burberry, Armani, and Diesel. Aside from the acquisition of marquee Bollywood brand assets abroad lately, RIL has also signed collaborations with numerous luxury international names, including
- The largest market share in the diethylene glycol market is held by the Asia-Pacific region, as this region is the fastest-growing region. Increasing demand for various end-user industries like automotive, building and construction industry, and many others drives the market growth.
- Royal Dutch Shell PLC. (Netherlands) is spending a huge sum of money on research and development to get an upper edge over its competitors. This will help the company by increasing the sales revenue.
- Increasing demand for the automotive industry and textile dyes industry provides various growth opportunities in the European region.
- All the major market key players are highly investing in new product launches, mergers, and acquisitions, joint ventures.
Report Overview
This global diethylene glycol market research report consists of the following elements mentioned below:
- Market Overview
- COVID 19 Analysis
- Market Dynamics
- Technology Analysis
- Segment Overview
- Regional Analysis
- Competitive Landscape
- Recent Developments
This market research report contains factors that drive the growth of the diethylene glycol treatment market in the global market and the factors that restrict its growth in the global market. The technical analysis for the growth estimation during the forecasted period is mentioned. The impact of COVID 19 on the sales revenue of the diethylene glycol treatment market all across the globe is mentioned. The future growth rates during the forecasted period are estimated and mentioned. This report provides an insight about the market drivers and restraints to help in getting a better understanding and plan the future strategies.
Intended Audience
- Nationalized laboratories
- Raw material suppliers
- Potential investors
- Research and development institutes
- Traders and distributors of diethylene glycol
- Diethylene glycol manufacturers
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