The Ethylene Glycol Market is being driven by Rising demand for polyester fibers
The Ethylene Glycol Market is expected to grow at a CAGR of 8.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 18421.6 million. In the global ethylene glycol market, there is a growing emphasis on sustainable production methods due to increasing regulatory requirements, environmental objectives, and technological innovations. A significant development in this regard is the successful pilot testing of a biomass-to-bio-based ethylene glycol process by researchers from the Dalian Institute of Chemical Physics and SinoSci Bio-EG in China. This groundbreaking catalytic conversion technology transforms sugars derived from starch and corn stalks into ethylene glycol through a highly selective and efficient system. With a pilot production capacity of 1,000 tonnes per year, this renewable process provides a viable alternative to traditional petroleum- and coal-based methods, reducing reliance on fossil fuels and contributing to a more sustainable ethylene glycol market.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
242 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.9% |
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Market growth 2025-2029 |
USD 18421.6 million |
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Market structure |
fragmentation |
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YoY growth 2024-2025(%) |
8.4 |
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Key countries |
China, India, US, South Korea, Japan, Germany, Russia, Saudi Arabia, Iran, Brazil, US, China, India, South Korea, and Taiwan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Ethylene Glycol market encompasses various applications, including glycol ethers and ethylene glycol derivatives, which find use in polyester fibers, pet bottles, antifreeze formulations, coolant blends, and solvent applications. In addition, ethylene glycol is utilized in resin production, polymer synthesis, and as chemical intermediates. Global production exceeds 20 million tons annually, with regional markets exhibiting varying demand drivers. Disruptions in supply chains, manufacturing processes, and quality control are key challenges, while safety regulations, environmental impact, sustainability initiatives, recycled content, bio-based alternatives, and consumption patterns also influence market trends.
The global commodity chemicals market encompasses businesses specializing in the production of industrial and basic chemicals, such as monoethylene glycol (meg), diethylene glycol (deg), triethylene glycol (teg), polyethylene glycol (peg), and propylene glycol. This market excludes companies engaged in the production of diversified chemicals, fertilizers and agricultural chemicals, industrial gases, and specialty chemicals. According to Technavio, the commodity chemicals market size is determined by the consolidated revenue generated by manufacturers of industrial and basic chemicals. Key growth drivers for the global commodity chemicals market include the increasing demand for plastic packaging. Plastic is the dominant material in the packaging industry, with continuous innovation leading to the development of lightweight, corrosion-resistant materials, thereby influencing the use of chemicals in the manufacture of plastic packaging.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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