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.

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.

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.