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Ethylene Glycol Market

Ethylene Glycol Market Is Set To Reach 21.77 USD Billion By 2033, Growing At A CAGR Of 4.1

Ethylene Glycol Market by Type (Monoethylene Glycol (MEG), by Application (Polyethylene Terephthalate (PET), by North America (U.S., Canada) Forecast 2026-2034

Aug 16 2025

Base Year: 2025

200 Pages

Ethylene Glycol Market Is Set To Reach 21.77 USD Billion By 2033, Growing At A CAGR Of 4.1

Key Insights

The size of the Ethylene Glycol Market was valued at USD 21.77 USD Billion in 2023 and is projected to reach USD 28.84 USD Billion by 2032, with an expected CAGR of 4.1% during the forecast period. This flourishing market is primarily driven by escalating demand for ethylene glycol in various end-use industries, such as the automotive, construction, and textile sectors. The benefits of ethylene glycol, including its antifreeze and coolant properties, contribute to its widespread usage in automotive applications. Moreover, government initiatives aimed at promoting sustainable practices and reducing carbon emissions are fostering the adoption of ethylene glycol as a green alternative to conventional solvents. Growing concerns regarding food security and the increasing need for efficient water management in agriculture are further propelling the demand for ethylene glycol. Technological advancements, such as the development of bio-based ethylene glycol, are also contributing to market growth.

Ethylene Glycol Market Trends

The Ethylene Glycol Market exhibits several key trends that are shaping its dynamics. Firstly, the growing adoption of electric vehicles (EVs) is expected to drive demand for ethylene glycol as it is used as a coolant in EV batteries. Secondly, the increasing demand for biodegradable and sustainable products is driving the adoption of bio-based ethylene glycol. Thirdly, the rising adoption of ethylene glycol in the construction industry for applications such as paints and coatings is contributing to market growth. Fourthly, the growing focus on energy efficiency and the development of energy-efficient technologies are driving the demand for ethylene glycol as a heat transfer fluid. Finally, the expansion of the oil and gas industry is expected to fuel the demand for ethylene glycol as it is used in various oil and gas exploration and production processes.

Ethylene Glycol Market Market Size and Forecast (2024-2030) — Ethylene Glycol Market Company Market Share

Driving Forces: What's Propelling the Ethylene Glycol Market

The Ethylene Glycol market is experiencing robust growth, fueled by a confluence of factors impacting diverse end-use sectors. The automotive industry remains a key driver, with ethylene glycol's indispensable role as an antifreeze and coolant in both conventional combustion engines and increasingly, in electric vehicle (EV) battery thermal management systems. This latter application is particularly significant, given the explosive growth of the EV market globally. Beyond automotive, the construction industry relies heavily on ethylene glycol in paints, coatings, and adhesives, while the textile industry utilizes it as a solvent and dye carrier. These established applications are complemented by emerging trends.

The increasing demand for sustainable and bio-based alternatives is significantly impacting the market. Bio-based ethylene glycol is gaining traction as consumers and businesses prioritize environmentally friendly solutions. Furthermore, ongoing advancements in energy-efficient technologies are indirectly boosting demand, as ethylene glycol plays a crucial role in many energy-related applications. The expansion of the oil and gas industry, while facing its own set of challenges, also contributes to the overall market growth by increasing the availability of ethylene oxide, a key raw material in ethylene glycol production.

Challenges and Restraints in Ethylene Glycol Market

Despite its strong growth trajectory, the ethylene glycol market faces considerable headwinds. The inherent volatility of crude oil prices directly impacts production costs, creating price instability and impacting market profitability. Stringent environmental regulations concerning production, handling, and disposal of ethylene glycol pose significant challenges for manufacturers, requiring substantial investment in compliance measures and potentially increasing operational costs. Furthermore, the market faces competition from alternative products such as propylene glycol and glycerol, which may offer comparable properties in specific applications at potentially lower costs or with superior environmental profiles.

These challenges necessitate a strategic approach from market players, focusing on innovation, cost optimization, and a commitment to sustainable practices to navigate the complexities of the market and ensure long-term success.

Key Region or Country & Segment to Dominate the Market

The Asia-Pacific region is expected to dominate the Ethylene Glycol Market, driven by the growing demand from the automotive, construction, and textile industries in countries such as China, India, and Japan. China is the largest producer and consumer of ethylene glycol in the world, accounting for a significant share of the global market. In terms of segments, the monoethylene glycol (MEG) segment is expected to dominate the market, owing to its wide range of applications in the production of polyethylene terephthalate (PET), which is used in the manufacturing of plastic bottles and containers.

Growth Catalysts in Ethylene Glycol Industry

Several key catalysts are propelling growth within the ethylene glycol industry. As mentioned previously, the burgeoning EV sector is a major driver, demanding significant quantities of ethylene glycol for effective battery cooling and temperature regulation. The growing awareness of environmental sustainability is further accelerating the adoption of bio-based ethylene glycol, offering a more eco-friendly alternative to conventionally produced ethylene glycol. Moreover, continued growth in the construction sector, especially in developing economies, is driving increased demand for paints, coatings, and adhesives, further solidifying ethylene glycol's position as a crucial component.

Looking ahead, innovation in ethylene glycol production processes, focusing on efficiency and reduced environmental impact, will be crucial in sustaining the market's robust growth. The development of new applications and strategic partnerships across various industries will also play a key role in shaping the future of the ethylene glycol market.

Ethylene Glycol Market Segmentation

1. Type
- 1.1. Monoethylene Glycol (MEG
2. Application
- 2.1. Polyethylene Terephthalate (PET

Leading Players in the Ethylene Glycol Market

Significant Developments in Ethylene Glycol Sector

The Ethylene Glycol Sector has witnessed several significant developments in recent years. In December 2023, SABIC collaborated with Scientific Design (SD) and Linde Engineering to investigate ways to make the EG production process more eco-friendly, focusing on creative approaches that greatly lower the carbon impact and introducing technology for low-emission processes. In October 2022, Braskem and Sojitz formed a joint venture and launched a product brand named Sustainea, which will produce and market bio-monoethylene glycol and bio-monopropylene glycol. In January 2022, ExxonMobil and SABIC successfully established a new manufacturing plant at the Gulf Coast Manufacturing Facility, which includes an MEG unit with a capacity of 1.1 million tons per year. In November 2021, SABIC announced the establishment of a new EG production plant at its manufacturing affiliate, Jubail United Petrochemical Company (United), with a production capacity of 700 kilotons annually. In January 2020, Indorama Ventures acquired Huntsman’s integrated oxides and derivative businesses, gaining significant share points in the global EG market.

Comprehensive Coverage Ethylene Glycol Market Report

The Comprehensive Coverage Ethylene Glycol Market Report provides a detailed analysis of the market, including market size, market share, market trends, market drivers, market restraints, market challenges, market opportunities, market forecast, and market segmentation. The report also provides company profiles of key players in the market.

Consumer Side Analysis

The Consumer Side Analysis provides insights into the consumer behavior of ethylene glycol. The analysis includes factors such as consumer preferences, consumer buying patterns, consumer segmentation, and consumer trends. The analysis also provides recommendations for businesses on how to target consumers effectively.

Demand Side Analysis

The Demand Side Analysis provides insights into the demand side of the ethylene glycol market. The analysis includes factors such as industry demand, end-user demand, and downstream demand. The analysis also provides recommendations for businesses on how to meet the demand of the market effectively.

Import And Export Analysis

The Import And Export Analysis provides insights into the import and export trends of ethylene glycol. The analysis includes factors such as import volumes, export volumes, import prices, export prices, and import and export countries. The analysis also provides recommendations for businesses on how to optimize their import and export strategies.

Pricing Strategies

The Pricing Strategies provide insights into the pricing strategies of key players in the ethylene glycol market. The analysis includes factors such as pricing models, pricing strategies, and pricing trends. The analysis also provides recommendations for businesses on how to set effective pricing strategies.

Geographic Coverage of Ethylene Glycol Market

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Ethylene Glycol Market REPORT HIGHLIGHTS

Aspects	Details
Study Period	2020-2034
Base Year	2025
Estimated Year	2026
Forecast Period	2026-2034
Historical Period	2020-2025
Growth Rate	CAGR of 4.1% from 2020-2034
Segmentation	By Type Monoethylene Glycol (MEG By Application Polyethylene Terephthalate (PET By Geography North America U.S. Canada

1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
- 2.1. Introduction
3. Market Dynamics
- 3.1. Introduction
- - 3.2. Market Drivers
  - - 3.2.1. Growing Demand for Polyethylene Terephthalate (PET) to Remain Growth Engine of the Market
- - 3.3. Market Restrains
  - - 3.3.1. Growing Demand for Polyethylene Terephthalate (PET) to Remain Growth Engine of the Market
- - 3.4. Market Trends
  - - 3.4.1. Growing Demand for Polyethylene Terephthalate (PET) to Remain Growth Engine of the Market
4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
5. Global Ethylene Glycol Market Analysis, Insights and Forecast, 2020-2032
- 5.1. Market Analysis, Insights and Forecast - by Type
  - 5.1.1. Monoethylene Glycol (MEG
- 5.2. Market Analysis, Insights and Forecast - by Application
  - 5.2.1. Polyethylene Terephthalate (PET
- 5.3. Market Analysis, Insights and Forecast - by Region
  - 5.3.1. North America
6. Competitive Analysis
- 6.1. Global Market Share Analysis 2025
- - 6.2. Company Profiles
  - - 6.2.1 BASF (Germany)
      6.2.1.1. Overview
      6.2.1.2. Products
      6.2.1.3. SWOT Analysis
      6.2.1.4. Recent Developments
      6.2.1.5. Financials (Based on Availability)
    - 6.2.2 China Petrochemical Corporation (China)
      6.2.2.1. Overview
      6.2.2.2. Products
      6.2.2.3. SWOT Analysis
      6.2.2.4. Recent Developments
      6.2.2.5. Financials (Based on Availability)
    - 6.2.3 EQUATE Petrochemical (Kuwait)
      6.2.3.1. Overview
      6.2.3.2. Products
      6.2.3.3. SWOT Analysis
      6.2.3.4. Recent Developments
      6.2.3.5. Financials (Based on Availability)
    - 6.2.4 Indorama Ventures (Thailand)
      6.2.4.1. Overview
      6.2.4.2. Products
      6.2.4.3. SWOT Analysis
      6.2.4.4. Recent Developments
      6.2.4.5. Financials (Based on Availability)
    - 6.2.5 INEOS (U.K.)
      6.2.5.1. Overview
      6.2.5.2. Products
      6.2.5.3. SWOT Analysis
      6.2.5.4. Recent Developments
      6.2.5.5. Financials (Based on Availability)
    - 6.2.6 LG Chem (South Korea)
      6.2.6.1. Overview
      6.2.6.2. Products
      6.2.6.3. SWOT Analysis
      6.2.6.4. Recent Developments
      6.2.6.5. Financials (Based on Availability)
    - 6.2.7 Mitsubishi Chemical Corporation (Japan)
      6.2.7.1. Overview
      6.2.7.2. Products
      6.2.7.3. SWOT Analysis
      6.2.7.4. Recent Developments
      6.2.7.5. Financials (Based on Availability)
    - 6.2.8 Reliance Industries Limited (India)
      6.2.8.1. Overview
      6.2.8.2. Products
      6.2.8.3. SWOT Analysis
      6.2.8.4. Recent Developments
      6.2.8.5. Financials (Based on Availability)
    - 6.2.9 SABIC (Saudi Arabia)
      6.2.9.1. Overview
      6.2.9.2. Products
      6.2.9.3. SWOT Analysis
      6.2.9.4. Recent Developments
      6.2.9.5. Financials (Based on Availability)
    - 6.2.10 Shell (U.K.)
      6.2.10.1. Overview
      6.2.10.2. Products
      6.2.10.3. SWOT Analysis
      6.2.10.4. Recent Developments
      6.2.10.5. Financials (Based on Availability)

List of Figures

Figure 1: Global Ethylene Glycol Market Revenue Breakdown (USD Billion, %) by Region 2025 & 2033
Figure 2: Global Ethylene Glycol Market Volume Breakdown (Kilotons, %) by Region 2025 & 2033
Figure 3: North America Ethylene Glycol Market Revenue (USD Billion), by Type 2025 & 2033
Figure 4: North America Ethylene Glycol Market Volume (Kilotons), by Type 2025 & 2033
Figure 5: North America Ethylene Glycol Market Revenue Share (%), by Type 2025 & 2033
Figure 6: North America Ethylene Glycol Market Volume Share (%), by Type 2025 & 2033
Figure 7: North America Ethylene Glycol Market Revenue (USD Billion), by Application 2025 & 2033
Figure 8: North America Ethylene Glycol Market Volume (Kilotons), by Application 2025 & 2033
Figure 9: North America Ethylene Glycol Market Revenue Share (%), by Application 2025 & 2033
Figure 10: North America Ethylene Glycol Market Volume Share (%), by Application 2025 & 2033
Figure 11: North America Ethylene Glycol Market Revenue (USD Billion), by Country 2025 & 2033
Figure 12: North America Ethylene Glycol Market Volume (Kilotons), by Country 2025 & 2033
Figure 13: North America Ethylene Glycol Market Revenue Share (%), by Country 2025 & 2033
Figure 14: North America Ethylene Glycol Market Volume Share (%), by Country 2025 & 2033

List of Tables

Table 1: Global Ethylene Glycol Market Revenue USD Billion Forecast, by Type 2020 & 2033
Table 2: Global Ethylene Glycol Market Volume Kilotons Forecast, by Type 2020 & 2033
Table 3: Global Ethylene Glycol Market Revenue USD Billion Forecast, by Application 2020 & 2033
Table 4: Global Ethylene Glycol Market Volume Kilotons Forecast, by Application 2020 & 2033
Table 5: Global Ethylene Glycol Market Revenue USD Billion Forecast, by Region 2020 & 2033
Table 6: Global Ethylene Glycol Market Volume Kilotons Forecast, by Region 2020 & 2033
Table 7: Global Ethylene Glycol Market Revenue USD Billion Forecast, by Type 2020 & 2033
Table 8: Global Ethylene Glycol Market Volume Kilotons Forecast, by Type 2020 & 2033
Table 9: Global Ethylene Glycol Market Revenue USD Billion Forecast, by Application 2020 & 2033
Table 10: Global Ethylene Glycol Market Volume Kilotons Forecast, by Application 2020 & 2033
Table 11: Global Ethylene Glycol Market Revenue USD Billion Forecast, by Country 2020 & 2033
Table 12: Global Ethylene Glycol Market Volume Kilotons Forecast, by Country 2020 & 2033
Table 13: U.S. Ethylene Glycol Market Revenue (USD Billion) Forecast, by Application 2020 & 2033
Table 14: U.S. Ethylene Glycol Market Volume (Kilotons) Forecast, by Application 2020 & 2033
Table 15: Canada Ethylene Glycol Market Revenue (USD Billion) Forecast, by Application 2020 & 2033
Table 16: Canada Ethylene Glycol Market Volume (Kilotons) Forecast, by Application 2020 & 2033

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

Web Analytics
Survey Reports
Research Institute
Latest Research Reports
Opinion Leaders

Secondary Research

Annual Reports
White Paper
Latest Press Release
Industry Association
Paid Database
Investor Presentations

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the Ethylene Glycol Market?

The projected CAGR is approximately 4.1%.

2. Which companies are prominent players in the Ethylene Glycol Market?

Key companies in the market include BASF (Germany), China Petrochemical Corporation (China), EQUATE Petrochemical (Kuwait), Indorama Ventures (Thailand), INEOS (U.K.), LG Chem (South Korea), Mitsubishi Chemical Corporation (Japan), Reliance Industries Limited (India), SABIC (Saudi Arabia), Shell (U.K.).

3. What are the main segments of the Ethylene Glycol Market?

The market segments include Type, Application.

4. Can you provide details about the market size?

The market size is estimated to be USD 21.77 USD Billion as of 2022.

5. What are some drivers contributing to market growth?

Growing Demand for Polyethylene Terephthalate (PET) to Remain Growth Engine of the Market.

6. What are the notable trends driving market growth?

Growing Demand for Polyethylene Terephthalate (PET) to Remain Growth Engine of the Market.

7. Are there any restraints impacting market growth?

Growing Demand for Polyethylene Terephthalate (PET) to Remain Growth Engine of the Market.

8. Can you provide examples of recent developments in the market?

December 2023: In a strategic step toward reducing carbon emissions, SABIC collaborated with Scientific Design (SD) and Linde Engineering. This joint effort seeks to investigate ways to make the EG production process more eco-friendly, focusing on creative approaches that greatly lower the carbon impact and introducing technology for low-emission processes.

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in USD Billion and volume, measured in Kilotons.

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "Ethylene Glycol Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the Ethylene Glycol Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the Ethylene Glycol Market?

To stay informed about further developments, trends, and reports in the Ethylene Glycol Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.

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