Market Size of Diethylene Glycol (DEG) Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 6.10 Million tons |
| Market Volume (2029) | 8.83 Million tons |
| CAGR (2024 - 2029) | 7.70 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players_Market_Major_Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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Diethylene Glycol (DEG) Market Analysis
The Diethylene Glycol Market size is estimated at 6.10 Million tons in 2024, and is expected to reach 8.83 Million tons by 2029, growing at a CAGR of 7.70% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market. It was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- Over the short term, increasing demand from the construction and paints and coatings industries in emerging economies such as India and China are factors driving the market's growth.
- On the flip side, regulations restricting DEG use due to its toxic nature and volatile prices of raw materials are some of the factors restraining the growth of the market studied.
- However, increasing demand for diethylene glycol as a chemical intermediate in the chemical industry due to increased downstream uses in PET resins and the textile industry are the major opportunities to drive the market in the future.
- The Asia-Pacific region dominates the world and will be the fastest-growing market due to increased infrastructure development and rapid industrialization.
