Diethylene Glycol (DEG) Market Estimated to Reach USD 3.8 Billion by 2030 | Increasing demand in Plastic Industry

The global Diethylene Glycol (DEG) Market generated $2.4 billion in 2020, and is expected to reach $3.8 billion by 2030, witnessing a CAGR of 4.8% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.

According to the report published by Allied Market Research, the Diethylene Glycol (DEG) Market by Application (Plasticizer, Solvent (Printing Inks, Paint Pigments, and Dye Formation), Polyester Resin, Chemical Intermediate (Unsaturated Resin, Thermoplastic Polyurethanes, Polyester Polyols, PEG, TriEG, TetraEG, Emulsifiers, and Morpholine), Freezing Point Depressant (Antifreeze Coolant and Heat Transfer Fluids), Lubricant (Glass Cement Grinding, Polishes, and Mold Release Agents), Dehydrant, Brake Fluids, Cosmetic & Personal Care, and Others), and End-Use Industry (Plastic Industry, Paints and Coatings, Automotive, Agrochemical, Oil and Gas, Cement, Textiles, Cosmetic and Personal Care, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030.

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Leading players of the global diethylene glycol market analyzed in the research include Reliance Industries, BASF SE, GC Glycol Company, Huntsman International LLC, Royal Dutch Shell PLC, India Glycol Limited, SABIC, Indian Oil Corporation, Lyondell Basell Industries, and Mitsubishi Chemical Corporation.

Increase in demand from cement, paints, and coatings industries and adoption in the plastic industry as a raw material drive the growth of the global diethylene glycol market. However, the toxic nature of diethylene glycol restrains the market growth. On the other hand, surge in patent registrations regarding the manufacturing of diethylene glycol, its derivatives, and their usage creates new opportunities in the coming years.

Key findings of the study

In 2020, Asia-Pacific dominated the global diethylene glycol market with around 37.0% of the share in terms of revenue.
The plasticizer segment dominated the global diethylene glycol market with around 26.6% of the share in terms of revenue.
The plastic industry segment dominated the global diethylene glycol market with around 24.3% of the share in terms of revenue.
Asia-Pacific is projected to grow at a highest CAGR of 5.2% in terms of value.
The chemical intermediate segment is projected to grow at the highest CAGR of 6.2% in terms of revenue
The paints & coatings segment is projected to grow at the highest CAGR of 5.7% in terms of revenue.

The report offers detailed segmentation of the global diethylene glycol market based on application, end-use industry, and region.

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Based on application, the plasticizer segment contributed to the highest market share in 2020, holding more than one-fourth of the total share, and is expected to maintain its dominance in terms of revenue during the forecast period. However, the chemical intermediate segment is projected to portray the highest CAGR of 6.4% from 2021 to 2030.
Based on end-use industry, the plastic industry segment held the highest share in 2020, accounting for around one-fourth of the global diethylene glycol industry, and is estimated to maintain its lead position during the forecast period. However, the paints & coatings segment is projected to manifest the largest CAGR of 5.7% from 2021 to 2030.

Based on region, Asia-Pacific accounted for the largest market share in 2020, contributing to around two-fifths of the total share, and is estimated to maintain its leadership status by 2030. Moreover, this segment is expected to witness the fastest CAGR of 5.2% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.

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