The global ethylene glycol market was valued at USD 37,743.8 million in 2023 and is projected to witness a year-on-year (Y-o-Y) growth of 5.9%, reaching approximately USD 40,017 million in 2024. Looking ahead, the market is forecast to expand at a robust CAGR of 6.5% during the 2024 to 2034 period, ultimately achieving a valuation of around USD 75,303.1 million by 2034. This growth is largely driven by rising demand from industries such as automotive, textiles, packaging, and construction.

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Market Trends

• Rising Demand for PET and Polyester Fibers: The surge in use of polyethylene terephthalate (PET) in packaging and polyester in apparel and home textiles is directly boosting ethylene glycol consumption globally.
• Automotive Sector Expansion: With the global automotive industry focusing on engine performance and durability, the demand for antifreeze and coolant fluids—major end-uses of ethylene glycol—is steadily growing.
• Shift Toward Bio-based Glycols: Increasing environmental concerns and governmental pressure to reduce carbon emissions are fostering investments in bio-based and sustainable alternatives to conventional ethylene glycol.
• Urbanization and Construction Growth: Expanding construction activities worldwide, particularly in emerging economies, are propelling the use of ethylene glycol in HVAC systems and insulation materials.
• Technological Innovation: Enhanced manufacturing techniques and process innovations are helping companies to improve yield and reduce production costs, improving profit margins and competitiveness.

Key Takeaways of the Report

• Polyester fiber and PET resin applications remain the dominant consumers of ethylene glycol worldwide.
• The automotive industry accounts for a significant share due to its use in antifreeze and coolants.
• Environmental regulations are encouraging a gradual shift toward bio-based ethylene glycol solutions.
• Asia Pacific continues to lead in consumption and production, backed by a strong manufacturing base.

Regional Market Outlook

• Asia Pacific dominates the global market and is expected to retain its leading position through 2035, driven by high consumption in China and India for polyester fiber and packaging applications.
• North America and Europe are focusing on environmentally friendly manufacturing and are seeing steady demand from the automotive and packaging sectors.

Competition Outlook

• The ethylene glycol market is moderately consolidated, with key global and regional players competing on the basis of capacity expansion, innovation, and sustainability.

Leading Ethylene Glycol Brands

• Reliance Industries Limited
• Shell Chemical
• Sinopec
• SABIC
• BASF SE
• Indian Oil Corp
• Ineos Group Limited
• Dow Chemical
• LG Chem Ltd.
• LyondellBasell Industries
• Mitsubishi Chemical Corporation
• LOTTE Chemical Corp.
• Eastman Chemical Company
• Nan Ya Plastics
• Formosa Plastics Corporation
• PETRONAS Chemicals Group
• Nippon Shokubai Co., Ltd.
• MEGlobal (EQUATE)
• Other Key Players

Key Segments of Market Report

By Product Type:

Monoethylene glycol, diethylene glycol, and triethylene glycol are the key product types.

By End-use Industry:

End-use segments included in the study are textile, automotive, healthcare and pharmaceuticals, industrial applications, chemical, packaging, construction, and others. The textile segment is further divided into polyester fibers and polyester films. The automotive segment is segregated into antifreeze and coolant and hydraulic and brake fluids. The healthcare and pharmaceuticals segment includes solvents and sterilizing agents. Industrial applications feature heat transfer fluids and dehydrating agents. The chemical segment is bifurcated into resins and solvents.

By Region:

Key countries of North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and the Middle East and Africa have been covered in the report.

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