H1 2023: The top players in the Diethylene Glycol (DEG) market during H1 2023 were Reliance Industries Limited, Mitsubishi Chemical Corp, and Lianyungang Petrochemical. Geographically, Asia Pacific ranked as the top consumer during H1 2023. Although, DEG prices witnessed certain fluctuations during this period. Regional demand for Diethylene Glycol (DEG) increased starting from January 2023. The product's limited availability contributed to the upward price trend. Fall in raw material stockpiles, limited unit output, and MEG plant maintenance all contributed to an increase in the price of DEG. Together with upstream demand growth and a positive outlook for the market, the supply side was strong in the Asian nations. The increase in the demand from other downstream sectors along with the constrained supply of ethylene oxide raw material led to the hike of DEG prices. But because of the healthy supply and demand sides, the market was optimistic in the first four months of 2023, after which DEG prices fell in the Asia Pacific region. In the first three months of H1 2023, DEG prices shoot up in Europe. As stockpiles shrank, the diethylene glycol (DEG) market witnessed a bullish segment. Reduced inventories and the high price of crude oil were the main factors influencing the DEG prices. Other factors like low inventory were supporting the diethylene glycol market. The German market had a strike which interfered with the supply of materials.
H1 2022: In H1 2022, the global production capacity of Diethylene Glycol (DEG) had reached around 730 thousand tonnes. The leading producers of Diethylene Glycol during H1 2022 were Mitsubishi Chemical Corp, Reliance Industries Limited, and Lianyungang Petrochemical. However, Mitsubishi Chemical Corp displayed the highest production capacity during H1 2022. Geographically, Asia Pacific ranked as the top consumer during H1 2022 followed by North America. Ethylene oxide feedstock prices rose in the first half of H1 2022 in Asia Pacific region due to high energy prices. However, but then declined due to improved product availability. In China, prices fell in the first half of H1 2022 as the downstream polyester industry was slow. The Chinese market witnessed low momentum during June 2022 as end-user demand gradually recovered. Additionally, increased cost support from upstream crude oil and geopolitical turmoil in Eastern Europe led to increased higher oil prices, thus affecting the price of the product. On the other hand, the price of DEG in India increased during the first half of the year and then fell due to sufficient stock and weak demand for this product in the regional market. However, in North America, market dynamics for diethylene glycol remained sluggish due to uncertainties in the downstream demand base. The ethylene feedstock market reacts to fluctuations in oil prices on the international market. Weak demand from the polyester and plastics sectors upset market players during H1 2022 and led to a decline in DEG prices across North America.
H2 2022: In H2 2022, Asia Pacific displayed similar market consumption trend of DEG demand in terms of volume as H1 2022. However, the prices of Diethylene glycol were on the higher side during September and then began to fall during October. The abundance of DEG and the prospect of lower demand in the domestic market occurred, leading to lower price of DEG in the region Furthermore, manufacturers were on the verge of cutting production as demand slumped, products flooded Asia’s market, and hence reducing the price of the product across Asia. However, Diethylene glycol (DEG) prices South China rose in the last three months of H2 2022. Good market sentiment and strong supply improved downstream demand across China. Although, Trading activity declined as participants largely refrained from participating. Both local markets and imports generated more new orders for downstream industries. However, low inventories firmly supported the market along with lower supply of Diethylene glycol, led to high prices of DEG across the Asian market during H2 2022. In response to the US-China trade war and fluctuating crude oil prices, prices of DEG were high during the initial months of H2 2022. However, after mid-November, prices of DEG began to fall across North America as the demand of this product from plasticizer industries was low across this region.
The global Diethylene Glycol (DEG) market stood at approximately 1460 thousand tonnes in 2022 and is expected to grow at a healthy CAGR of 5.26% during the forecast period until 2030.
Diethylene glycol (DEG) is an organic compound with the chemical formula C4H10O3 consisting of four carbon dimers of ethylene glycol. It is a stable, colorless, odorless, and hygroscopic liquid, which is completely miscible in water. It is synthesized by the partial hydrolysis of Ethylene Oxide and as a co-product of ethylene glycol (MEG) and triethylene glycol. Diethylene glycol is utilized in the manufacturing of saturated and unsaturated polyester resins, polyurethanes, humectants, plasticizers, etc. DEG is widely used as a solvent that makes it useful in cleaners, cement processing, heat transfer fluids, and adhesives. DEG also used for the production of antifreeze, brake fluid, cigarettes, some dyes and medicines. Additionally, DEG is also used frequently in cosmetics and personal care items including toothpaste, deodorant, and skin treatments.
The global diethylene glycol market is expanding as a result of rising demand of Polyurethane (PU) Unsaturated Polyester Resins (UPRs) from numerous industries. Polyurethane foam is a versatile with various advantages like high performance, adaptability, mechanical and thermal performance, and environmental friendliness. The major user of rigid and sprayed polyurethane foam is the building and construction sector. Unsaturated polyester resins are primarily used in the manufacturing of fibre reinforced plastics and plastic products, such as sanitary ware, tanks, plumbing, gratings, and high-performance parts for the transportation and marine industries, such as closure and body panels, fenders, boat hulls/decks, and other substantial glass fibre reinforced plastic items. Along with this, other uses as a textile lubricant, coupling agent, and component of hydraulic fluids also favor market expansion. The global Diethylene Glycol (DEG) market is anticipated to reach approximately 2200 thousand tonnes in 2030.
Regionally, the Asia Pacific is the major consumer of the Diethylene Glycol (DEG) market. In the upcoming years, it is projected that government investment on infrastructure improvement and rising industrialization in developing nations like China and India will increase demand for DEG and further expand its market in the Asia Pacific area. The DEG market in the area will be boosted by the rapidly rising demand for polyester resins, polyurethanes, plasticizers, etc. from numerous end-use sectors including automotive, plastic, and others.
Based on end-use, the Global Diethylene Glycol market is segmented into Polyurethane (PU), Unsaturated Polyester Resin (UPR), Chemical Intermediates, Solvent, Antifreeze Blending, and Others. Due of their low cost, simple manufacturing process, and high performance, unsaturated polyester resins are one of the most popular and industrially versatile thermosetting materials. These resins are employed in a variety of applications, including automotives, ships, planes, construction sites, and electronic gadgets. Furthermore, DEG is commonly used in antifreeze blending industry because it significantly raises the boiling temperature, which makes the coolant work better at dissipating the extra heat produced by automobile engines.
Major players in the production of Global Diethylene Glycol (DEG) are Reliance Industries Limited, BASF SE, GC Glycol Company, Royal Dutch Shell PLC, Huntsman International LLC, Dow Chemical Co, Alberta & Orient Glycol, Indorama Ventures (Oxide & Glycols) LLC., The Kuwait Olefins Co, Formosa Plastics Corp, TOC Glycol Company Limited, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2030
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
Objective of the Study:
• To assess the demand-supply scenario of Diethylene Glycol (DEG) which covers production, demand and supply of Diethylene Glycol (DEG) market in the globe.
• To analyse and forecast the market size of Diethylene Glycol (DEG)
• To classify and forecast Global Diethylene Glycol (DEG) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Diethylene Glycol (DEG) market in the globe.
To extract data for Global Diethylene Glycol (DEG) market, primary research surveys were conducted with Diethylene Glycol (DEG) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Diethylene Glycol (DEG) market over the coming years.
ChemAnalyst calculated Diethylene Glycol (DEG) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the demand of Diethylene Glycol (DEG) from the end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Diethylene Glycol (DEG) manufacturers and other stakeholders
• Organizations, forums and alliances related to Diethylene Glycol (DEG) s distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Diethylene Glycol (DEG) s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Diethylene Glycol (DEG) s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
1460 thousand tonnes
Market size Volume by 2030
2200 thousand tonnes
Growth Rate
CAGR of 5.26% from 2023 to 2030
Base year for estimation
2023
Historical Data
2015 – 2022
Forecast period
2024 – 2030
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2030
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process, Policy and Regulatory Landscape.
Segments covered
By End-Use: [Polyurethane (PU), Unsaturated Polyester Resin (UPR), Chemical Intermediates, Solvent, Antifreeze Blending, and Others]
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Which region is the leading as a consumer of the global Diethylene Glycol (DEG) market?
Ans:
Asia Pacific is the largest consumer of the global Diethylene Glycol (DEG) market.
Q2.
Which end-use industry is dominating the Global Diethylene Glycol (DEG) market?
Ans:
The Polyurethane (PU) industry is dominating the Diethylene Glycol (DEG) market with a market share of nearly 30% in 2022.
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