Expanding Automotive Industry Fuels Increased Demand For Glycol: A Key Driver Powering Glycol Market Growth In 2025

The Glycol Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Glycol Market Size and Its Estimated Growth Rate?
In recent years, there has been a strong expansion in the glycol market size. The market is projected to increase from $42.23 billion in 2024 to $45.54 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.8%. The growth previously experienced is down to factors such as industrial growth and expansion, development in urbanization and infrastructure, proliferation in the automotive industry, the surge in refrigeration and air conditioning, as well as an uptick in consumer product manufacturing.

The glycol market is anticipated to witness significant expansion in the upcoming years, with its value projected to reach $62.02 billion by 2029, rising at a compound annual growth rate (CAGR) of 8.0%. This surge during the forecast period can be traced back to an emphasis on renewable feedstocks, heightened demand for bio-based glycols, increased use in heating, ventilation, and air conditioning (HVAC) systems, development of liquefied natural gas (LNG) infrastructure and growth of the electronics industry. Key trends for the forecast period encompass advancements in glycol manufacturing technologies, initiatives related to the circular economy, intelligent glycol solutions, increased partnership in research and development, and the use of glycol for energy storage.

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How Are Emerging Segments Shaping the Glycol Market Landscape?
The glycol market covered in this report is segmented -

1) By Type: Ethylene Glycol, Propylene Glycol, Other Types
2) By Application: Antifreeze And Coolants, Polyester Fiber Production, PET Bottles And Packaging, Solvents And Humectants, Dehydrating Agent, Chemical Intermediates
3) By End User: Automotive And Transportation, Packaging, Food And Beverage, Cosmetics, Textile, Other End-Users

Subsegments:
1) By Ethylene Glycol: Monoethylene Glycol (MEG), Diethylene Glycol (DEG), Triethylene Glycol (TEG)
2) By Propylene Glycol: Industrial Grade Propylene Glycol, Food Grade Propylene Glycol, Pharmaceutical Grade Propylene Glycol
3) By Other Types: Butylene Glycol, Glycerin, Sorbitol

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Which Growth Factors Are Influencing Glycol Market Expansion?
The growth of the glycol market is forecasted to be driven by the proliferating automotive industry. This industry encompasses the development, production, promotion, and sale of motor vehicles, including cars, trucks, motorcycles, and other such vehicles. Frequently, glycol is a critical component in the formulas for engine coolants and antifreeze in the automobile sector. This component helps to regulate engine temperature, decreasing the risk of overheating in hot conditions and protecting against freezing in colder climates. The European Automobile Manufacturers' Association, based in Belgium, reported in March 2024 that the EU car market saw significant growth in 2023 with an increase of 13.9% compared to 2022, resulting in a total volume of 10.5 million units. Therefore, the booming automotive industry fuels the glycol market's expansion.

Who Are the Dominant Players Across Different Glycol Market Segments?
Major companies operating in the glycol market include ADEKA Corporation, Shell Plc, Chevron Phillips Chemical Company, Mitsubishi Chemical Corporation, The Archer-Daniels-Midland Company, Repsol S.A., The Dow Chemical Company, Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries N.V., Global Bio-chem Technology Group Company Limited, Honeywell International Inc., Sumitomo Chemical Co. Ltd., INEOS Group Limited, Indorama Ventures, LOTTE Chemical Corporation, Solvay SA, Mitsui Chemicals Inc., DuPont, Akzo Nobel, Eastman Chemical Company, Celanese Corporation, Lanxess AG, Huntsman International LLC, Formosa Plastics Corporation, Nouryon Chemicals, Clariant AG, BASF SE, India Glycols Limited, SKC Inc., Meglobal International fze

What Are the Latest Developing Trends in the Glycol Market?
The emergence of new product developments is a key trend that is increasing in prominence in the glycol market. Businesses in the glycol sector are concentrating on generating innovative products and solutions to maintain their market standing. For instance, in August 2022, Valvoline Inc., a company that specializes in retail automotive services in the United States, introduced Valvoline Advanced Coolant, a novel glycol-based complete antifreeze coolant. This state-of-the-art coolant delivers protection in severe hot and cold environments, guarding against overheating and freezing conditions to ensure the engine keeps running. With compatibility with all OAT coolant systems, this innovative solution features an advanced formula that extends engine longevity. Its distinctive ethylene glycol-based formulation incorporates a non-depleting organic-acid technology that could potentially extend engine lifespan and adapt it for harsh conditions.

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Which Geographic Regions Are Expected to Dominate the Glycol Market in the Coming Years?
Asia-Pacific was the largest region in the glycol market in 2024, and is expected to be the fastest-growing region in the forecast period. The regions covered in the glycol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Glycol Market?
2. What is the CAGR expected in the Glycol Market?
3. What Are the Key Innovations Transforming the Glycol Industry?
4. Which Region Is Leading the Glycol Market?

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