Ethylene Glycol

Global Ethylene Glycol Market to Reach US$65.5 Billion by 2030

The global market for Ethylene Glycol estimated at US$48.8 Billion in the year 2024, is expected to reach US$65.5 Billion by 2030, growing at a CAGR of 5.0% over the analysis period 2024-2030. Monoethylene Glycol (MEG), one of the segments analyzed in the report, is expected to record a 5.1% CAGR and reach US$56.4 Billion by the end of the analysis period. Growth in the Diethylene Glycol (DEG) segment is estimated at 4.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$12.8 Billion While China is Forecast to Grow at 7.5% CAGR

The Ethylene Glycol market in the U.S. is estimated at US$12.8 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$14.4 Billion by the year 2030 trailing a CAGR of 7.5% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.6% and 4.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.9% CAGR.

Global Ethylene Glycol Market – Unveiling Key Trends & Growth Catalysts

Why Is Ethylene Glycol Essential Across Multiple Industries?

Ethylene glycol has become a vital chemical compound in various industrial applications due to its superior properties, including excellent heat transfer capability, low volatility, and antifreeze characteristics. This colorless, odorless, and hygroscopic liquid is primarily used in the production of polyester fibers, antifreeze solutions, and polyethylene terephthalate (PET) resins, making it an indispensable component in textiles, automotive, and packaging industries. As a crucial raw material in the petrochemical sector, ethylene glycol serves as a backbone for several industrial formulations.

The increasing demand for synthetic fibers in the textile industry has significantly contributed to the expansion of the ethylene glycol market. Polyester fibers, widely used in clothing, upholstery, and industrial fabrics, rely on ethylene glycol as a key raw material for manufacturing durable and wrinkle-resistant fabrics. Additionally, the automotive industry extensively uses ethylene glycol-based antifreeze and coolant solutions to regulate engine temperature and prevent freezing or overheating in extreme weather conditions. The growing reliance on lightweight PET-based packaging materials in the food and beverage sector has further strengthened the global demand for ethylene glycol. With its diverse applications, ethylene glycol continues to be a critical chemical driving industrial and consumer product development.

How Are Technological Advancements and Sustainability Trends Impacting Ethylene Glycol Production?

The ethylene glycol market is undergoing transformative changes, driven by advancements in production technologies and the shift toward sustainable alternatives. Traditional ethylene glycol production relies on petrochemical feedstocks such as ethylene oxide, but growing environmental concerns have led to increased research into bio-based and renewable alternatives. Companies are exploring biomass-derived ethylene glycol, utilizing plant-based sugars and agricultural waste to create eco-friendly variants that reduce carbon emissions and reliance on fossil fuels. Bio-ethylene glycol is gaining traction as an attractive option for sustainable polyester and PET production, aligning with global sustainability initiatives.

Another major innovation in the ethylene glycol industry is the improvement of recycling technologies for PET bottles and polyester fibers. Chemical recycling methods, such as glycolysis and depolymerization, enable the conversion of used PET plastics back into raw ethylene glycol, promoting a circular economy and reducing plastic waste. Additionally, advancements in catalytic processes have enhanced production efficiency, minimizing byproducts and optimizing yield. As regulatory frameworks tighten around carbon emissions and plastic waste management, ethylene glycol manufacturers are prioritizing sustainable production pathways to ensure long-term market growth while meeting environmental standards.

Which Industries Are Driving the Demand for Ethylene Glycol?

The polyester and PET industry is the largest consumer of ethylene glycol, with applications spanning textiles, packaging, and industrial fibers. Polyester fibers, used in clothing, home furnishings, and automotive fabrics, account for a significant portion of ethylene glycol consumption. Meanwhile, the rise in demand for PET-based beverage bottles, food containers, and packaging films has further accelerated ethylene glycol production. The global shift toward lightweight, recyclable packaging solutions continues to fuel market expansion, particularly in the fast-moving consumer goods (FMCG) sector.

The automotive industry is another major driver of ethylene glycol demand, particularly in the production of engine coolants and antifreeze solutions. With increasing vehicle production and expanding automotive markets in emerging economies, the demand for high-performance coolant formulations is rising. Additionally, ethylene glycol-based heat transfer fluids are widely used in HVAC systems, solar panels, and industrial refrigeration, contributing to their extensive adoption in energy and construction sectors. The pharmaceutical and cosmetics industries also utilize ethylene glycol derivatives in drug formulations, skin care products, and personal care applications, further diversifying its market reach. As industries continue to expand and innovate, ethylene glycol remains a fundamental chemical in global industrial production.

What’s Fueling the Rapid Growth of the Ethylene Glycol Market?

The growth in the global ethylene glycol market is driven by several factors, including the rising demand for polyester fibers, increasing consumption of PET packaging, and expanding automotive coolant applications. The surge in urbanization and industrialization, particularly in Asia-Pacific regions, has significantly boosted ethylene glycol production as manufacturers cater to the growing demand for textiles, packaging materials, and consumer goods. Additionally, the shift toward lightweight and recyclable plastics in the packaging industry has propelled the need for PET resins, directly impacting ethylene glycol consumption.

Sustainability initiatives and regulatory policies promoting bio-based materials and plastic recycling have also influenced market dynamics, encouraging the adoption of greener ethylene glycol production processes. The increasing use of ethylene glycol in renewable energy applications, such as solar thermal systems and energy storage solutions, has further expanded its market potential. Moreover, advancements in antifreeze and coolant technologies, particularly in electric vehicles (EVs) and hybrid cars, have created new growth opportunities for ethylene glycol in automotive thermal management systems. With continuous technological progress, shifting consumer preferences, and a growing emphasis on sustainability, the ethylene glycol market is poised for sustained expansion, ensuring its continued significance in multiple high-growth industries.

SCOPE OF STUDY:

The report analyzes the Ethylene Glycol market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Product Type (Monoethylene Glycol (MEG), Diethylene Glycol (DEG), Triethylene Glycol (TEG)); Application (Polyester Fibers, PET, Antifreeze, Other Applications)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 31 Featured) -

• Ampak Chemicals Inc.
• ARIHANT SOLVENTS AND CHEMICALS
• Brenntag New Zealand Ltd.
• Chemceed
• China Man-made Fiber Corporation (CMFC)
• ClearTech
• DJC Co.,Ltd
• Dongying City Longxing Chemical Co., Ltd.
• EQUATE Petrochemical - MEGlobal
• Exxon Mobil Corporation

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs CBob geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

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APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

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