The global ethylene glycols market size is expected to reach USD 23.56 billion by 2030, registering a CAGR of 5.3% from 2024 to 2030. Growing demand for polyethylene terephthalate (PET) for packaging applications, primarily in Asia Pacific and Latin America is expected to remain a key driving factor for the market. In addition, growth from the global textiles industry is also expected to support the ethylene glycol market development over the forecast period. Volatile prices and tight supply of raw materials, on account of frequent fluctuations in crude oil prices, are expected to inhibit the market growth over the next six years.
Monoethylene glycol (MEG) emerged as the leading product segment and accounted for 32.67% of total market volume in 2023. MEG in addition to being the largest product segment is also expected to be the fastest-growing ethylene glycol at an estimated CAGR of 4.5% from 2024 to 2030. MEG is mainly used for manufacturing PET and growth of the global beverages market is expected to drive the demand for MEG over the forecast period. Global market for di-ethylene glycol (DEG) is expected to reach USD 6.23 billion by 2030.
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Monoethylene glycol (MEG) emerged as the leading product segment and accounted for 32.67% of total market volume in 2023. MEG in addition to being the largest product segment is also expected to be the fastest-growing ethylene glycol at an estimated CAGR of 4.5% from 2024 to 2030. MEG is mainly used for manufacturing PET and growth of the global beverages market is expected to drive the demand for MEG over the forecast period. Global market for di-ethylene glycol (DEG) is expected to reach USD 6.23 billion by 2030.
Ethylene Glycols Market Report Highlights
- The global ethylene glycols market size was valued at USD 17.76 billion in 2023 and is projected to grow at a CAGR of 5.3% from 2024 to 2030.
- PET emerged as the leading application market for ethylene glycols and accounted for 44.1% of total market volume in 2023. Growth of the beverages industry mainly in Asia Pacific and Latin America is expected to drive this market over the next six years. Polyester fibers are expected to be the fastest-growing market for ethylene glycols at an estimated CAGR of 4.1% from 2024 to 2030.
- North America ethylene glycols market dominated the global ethylene glycols market with a revenue share of 40.5% in 2023.
- The global market for ethylene glycol is fairly concentrated with the top four companies operating in the market including SABIC, Dow Chemical Company, Sinopec and Shell Chemical accounted for over 50% of the total market in 2013. Other companies operating in the market include Formosa Plastics Group, Honam Petrochemicals, and Ineos.
The leading players in the Ethylene Glycols market include:
- Exxon Mobil Corporation
- Dow Inc.
- SABIC
- China Petrochemical Corporation
- Shell Chemicals
- Reliance Industries Limited
- Huntsman International LLC
- LOTTE Chemical CORPORATION
- KUWAIT PETROLEUM CORPORATION
- LyondellBasell Industries Holdings B.V.
Why should you buy this report?
- Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
- Competitive Landscape: Explore the market presence of key players worldwide.
- Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
- Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.
This report addresses:
- Market intelligence to enable effective decision-making
- Market estimates and forecasts from 2018 to 2030
- Growth opportunities and trend analyses
- Segment and regional revenue forecasts for market assessment
- Competition strategy and market share analysis
- Product innovation listing for you to stay ahead of the curve
- COVID-19's impact and how to sustain in these fast-evolving markets
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Table of Contents
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Ethylene Glycols Market Variables, Trends, & Scope
Chapter 4. Ethylene Glycols Market: Derivative Type Estimates & Trend Analysis
Chapter 5. Ethylene Glycols Market: Application Estimates & Trend Analysis
Chapter 6. Ethylene Glycols Market: End Use Estimates & Trend Analysis
Chapter 7. Ethylene Glycols Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
The leading players in the Ethylene Glycols market include:- Exxon Mobil Corporation
- Dow Inc.
- SABIC
- China Petrochemical Corporation
- Shell Chemicals
- Reliance Industries Limited
- Huntsman International LLC
- LOTTE Chemical CORPORATION
- KUWAIT PETROLEUM CORPORATION
- LyondellBasell Industries Holdings B.V.
Methodology
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