Home > Chemicals & Materials > Specialty Chemicals > Custom Synthesis > Ethylene Glycol Market

Ethylene Glycol Market Size

Report ID: GMI11932
Published Date: Oct 2024
Report Format: PDF

Download Free Sample

Ethylene Glycol Market Size

The global ethylene glycol market was valued at USD 37.6 billion in 2023 and is estimated to grow at a CAGR of over 6.7% from 2024 to 2032.

To get key market trends

Download Free Sample

The ethylene glycol industry is experiencing steady growth driven by increasing demand from industries such as automotive, textiles, and packaging. Ethylene glycol, a key component in the production of antifreeze, polyester fibers, and PET resins, has seen rising demand due to expanding automotive manufacturing and the shift towards lightweight materials in the transportation sector. Additionally, the growth of the textile and apparel industry, particularly in emerging markets, has boosted the consumption of polyester fibers. The global push towards sustainability and recycling also plays a role in shaping the market, with companies investing in greener production processes.

Ethylene Glycol Market Report Attributes
Report Attribute	Details
Base Year:	2023
Ethylene Glycol Market Size in 2023:	USD 37.6 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	6.7%
2032 Value Projection:	USD 67.1 Billion
Historical Data for:	2021 - 2023
No. of Pages:	300
Tables, Charts & Figures:	250
Segments covered:	Product, Application, End use
Growth Drivers:	Increasing demand from the automotive sector Expanding polyester production Growth in PET production
Pitfalls & Challenges:	Volatility in raw material prices Environmental Regulations

Learn more about the key segments shaping this market

Download Free Sample

The market is expected to continue its upward trend, supported by both industrial demand and advancements in production technologies. Future growth in the ethylene glycol industry will be driven by several key factors. The increasing adoption of electric vehicles (EVs) is expected to boost demand for ethylene glycol as a crucial component in battery cooling systems and thermal management solutions. Additionally, the continued expansion of the polyester fiber industry, especially in emerging economies, will sustain demand for ethylene glycol in textile production. The rise in PET packaging, fueled by consumer preferences for lightweight, recyclable materials, will further contribute to market growth. Moreover, technological advancements in bio-based and recycled ethylene glycol production will align with global sustainability trends, supporting long-term market expansion.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The global market size for ethylene glycol was valued at USD 37.6 billion in 2023 and is expected to reach USD 67.1 billion by 2032, driven by a CAGR of over 6.7% from 2024 to 2032.

Polyester fibers held a dominant market share of 45.4% in 2023, due to the surging demand for synthetic textiles across various industries.

The U.S. market was valued at USD 9.7 billion in 2023, driven by increasing demand from automotive, construction, and textile industries.

Major players in the industry include BASF SE, Dow Chemical, Eastman Chemical, Formosa Plastics, Indian Oil, Ineos Group, LG Chem, LOTTE Chemical, and LyondellBasell.