The latest report by IMARC Group, titled “Diethylene Glycol (DEG) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global diethylene glycol (DEG) market size reached 3.11 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 4.09 Million Tons by 2028, exhibiting a growth rate (CAGR) of 4.51% during 2023-2028.
Diethylene Glycol (DEG) is a versatile chemical compound widely used in various industrial applications. It is a colorless, odorless liquid with a sweet taste, making it a valuable component in industries such as pharmaceuticals, plastics, textiles, and cosmetics. One of its primary uses is as a solvent, meaning it can dissolve other substances. It is utilized in the production of various products such as plastics, resins, and dyes. DEG is also known for its ability to lower the freezing point and raise the boiling point of water, making it a crucial component in antifreeze and heat transfer fluids. Its chemical properties make it an excellent solvent, coupling agent, and coolant, which has led to its extensive adoption in different sectors.
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Diethylene Glycol (DEG) Market Trends and Drivers:
The market is experiencing significant growth driven by the pharmaceutical industry's expansion, particularly in the production of medications and vaccines. Additionally, the plastics and polymer industry relies heavily on diethylene glycol as a plasticizer and coolant. Furthermore, environmental concerns have spurred a trend toward eco-friendly alternatives, and this shift is influencing the market. Manufacturers are increasingly opting for DEG due to its low volatile organic compound (VOC) content, aligning with sustainability goals. Moreover, the cosmetic and personal care industry is witnessing a surge in demand for DEG due to its use in skin creams, lotions, and hair care products. As consumers become more conscious of product ingredients, DEG's versatility and safety profile make it a preferred choice for formulators. Besides, another significant trend is the increasing use of DEG as an antifreeze and heat transfer fluid in various industrial processes. Its ability to maintain stability over a wide range of temperatures makes it indispensable in applications where temperature control is critical. Additionally, the automotive industry's expansion and the need for efficient engine coolants contribute to the steady demand for diethylene glycol.
Report Segmentation:
The report has segmented the market into the following categories:
Application Insights:
- Antifreeze and Coolant
- Solvents
- Humectants
- Polyester Resins and Plasticizers
- Emulsifiers and Lubricants
- Others
End Use Industry Insights:
- Agrochemical
- Automotive
- Cosmetic and Personal Care
- Paints and Coatings
- Oil and Gas
- Textiles
- Plastics
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- BASF SE
- India Glycols Limited
- Indorama Ventures Public Company Limited
- LyondellBasell Industries Holdings B.V.
- Merck KGaA
- Mitsubishi Chemical Corporation
- Nippon Shokubai Co. Ltd.
- Pon Pure Chemicals Group
- Reliance Industries Limited
- Saudi Basic Industries Corporation (Saudi Aramco)
- Shell plc
- TCI Chemicals (India) Pvt. Ltd.
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