Glycol Market Report 2026

The glycol market size has grown strongly in recent years. It will grow from $44.93 billion in 2025 to $48.37 billion in 2026 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to expansion of automotive production volumes, growth of polyester fiber manufacturing, increasing demand for refrigeration systems, rising use of glycols in chemical intermediates, availability of large-scale petrochemical production.

The glycol market size is expected to see strong growth in the next few years. It will grow to $65.28 billion in 2030 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increasing electric vehicle thermal management needs, rising demand for sustainable packaging materials, expansion of bio-based chemical manufacturing, growing use in data center cooling systems, increasing focus on energy-efficient heat transfer fluids. Major trends in the forecast period include increasing demand for automotive antifreeze and coolants, rising use in pet packaging and polyester fibers, growing adoption of bio-based glycols, expansion of industrial heat transfer applications, enhanced focus on high-purity glycol grades.

The growing automotive industry is expected to drive the growth of the glycol market in the coming years. The automotive industry encompasses the development, production, marketing, and sale of motor vehicles, including automobiles, trucks, motorcycles, and other vehicles. Glycol is widely used in engine coolants and antifreeze formulations, helping regulate engine temperature by preventing overheating in warm conditions and freezing in cold conditions. For example, in March 2024, the European Automobile Manufacturers' Association, a Belgium-based industry group, reported that the EU car market grew by 13.9% in 2023 compared to 2022, reaching 10.5 million units. As a result, the expansion of the automotive industry is supporting the growth of the glycol market.

Key players in the glycol market are forming strategic partnerships to utilize PET glycol (PETG) resin, accelerating the adoption of renewable materials in plastic applications. Strategic partnerships involve companies leveraging each other’s resources and expertise to achieve mutual benefits. For instance, in June 2023, UPM Biochemicals GmbH, a Germany-based chemical company, partnered with Selenis NA, a US-based plastics resin manufacturer, to produce sustainable PETG (polyethylene terephthalate glycol) using forest-sourced materials from Germany for plastic packaging applications, aiming to reduce carbon emissions.

In July 2024, Technip Energies, a France-based petrochemical technology firm, acquired Shell for an undisclosed amount. This acquisition is intended to bolster Technip Energies' commercialization of its Bio-2-Glycols technology, which produces bio-based Mono Ethylene Glycol (MEG) from glucose. This advancement will facilitate the creation of sustainable polyester solutions as alternatives to fossil-based feedstocks. Shell, based in the Netherlands, is an energy company engaged in oil and gas exploration.

Major companies operating in the glycol market are BASF, Dow, SABIC, Shell Chemicals, ExxonMobil Chemical, Sinopec, LG Chem, LyondellBasell, Formosa Plastics, INEOS, Reliance Industries, Mitsubishi Chemical Group, Sumitomo Chemical, Eastman Chemical, Huntsman, Lanxess, Arkema, Wanhua Chemical, Celanese, Chevron Phillips Chemical.

Asia-Pacific was the largest region in the glycol market in 2025, and is expected to be the fastest-growing region in the forecast period. The regions covered in the glycol market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the glycol market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The glycol market consists of sales of hydraulic brake fluids, certain stamp pad inks, ballpoint pens, solvents, paints, plastics, films, and cosmetics. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 1-3 business days.