Diethylene Glycol Market Analysis
Diethylene Glycol Market (DEG) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027
Diethylene glycol (DEG) is an organic compound, which is also called ethylene diglycol. It is a poisonous, colorless, odorless compound, which is hygroscopic in nature and has a sweetish test. It is produced by partial hydrolysis of ethylene oxide. Generally, DEG is used as a solvent, though it can be a contaminant in various consumer products. Due to this, numerous epidemics have caused in the early 20th century. This has caused governments of different countries to impose stringent regulations on its use. DEG finds application in various such leather processing, printing inks, paper & pulp industry, tobacco manufacturing, and more. Furthermore, it is used as a raw material for thermoplastic polyurethanes, plasticizers, and polyester resins.
Global diethylene glycol market size is projected to increase significantly during the forecast period (2019-2027). Increasing demand for unsaturated polyester resins, polyurethane, and plasticizers is the major factor driving growth of the market. Furthermore, increasing demand for dyes, resins, oils, nitrocellulose, and other organic compounds is expected to boost the market growth during the forecast period. DEG has been majorly used for the manufacturing of coolants, water-based paints, waxes, adhesives, and glass cleaners, which is expected to drive the market growth in the near future. Moreover, significant growth of the plastic industry around the world is expected to increase the demand for diethylene glycol and thereby propel growth of the market in the near future. Furthermore, increasing demand for polyurethane from automotive, consumer goods, building & construction industries is projected to support the market growth during the forecast period.
However, the toxic nature of diethylene glycol is expected to hinder its demand thereby restrain growth of global diethylene glycol market during the forecast period. Moreover, stringent regulations by the government concerning its harmful effects is expected to hamper the market growth in the near future.
Market Regional Analysis
North America and Europe are projected to gain major market share in the global diethylene glycol market during the forecast period. This is owing to increasing demand for diethylene glycol from the plastic and tobacco industries. Furthermore, Asia Pacific is expected to witness significant market growth during the forecast period, owing to the lack of stringent policies regarding diethylene glycol and increasing demand for diethylene glycol in the region. China is expected to be a major contributor to the region.
Major manufacturers operating in the global diethylene glycol market are BASF SE, BP place, Celanese Corporation, Dow Chemicals, Arch Chemicals, and Askema AS.