Ethylene Glycol Market size is valued at USD 17,248.4 million in 2021 and is expected to grow at a CAGR of 5.6% during the forecast period 2022 to 2028. Ethylene glycol denotes a slightly viscous and transparent chemical compound that is usually used as an industrial antifreeze and coolant. It is also utilized as a raw material for the manufacture of polyester fibers, polyethylene terephthalate resin, and fiberglass, which are further used in the production of upholstery, bowling balls, bathtubs, and packaging materials. Some of the usual types of ethylene glycol contain tri ethylene glycol (TEG), diethylene glycol (DEG), and mono ethylene glycol (MEG), which are extensively used as heat transfer fluids in heating and compressors, air conditioning, and ventilating (HVAC) systems. It also finds wide applications in numerous consumer products, such as automotive antifreeze, solvents, hydraulic brake fluids, paints, plastics, cosmetics, and films. The global market provides a detailed overview of the ethylene glycol market size, and that can be segmented by product type and by the end user. By product type, the Ethylene Glycol Industry market growth has been segmented into Monoethylene Glycol (MEG), Diethylene Glycol (DEG), and Triethylene Glycol (TEG). The Triethylene Glycol (TEG) segment is likely to be the significant growing segment in terms of product type. Based on End-users, the Ethylene Glycol Industry market is segmented into Fiber, PET, Film, Antifreeze & Coolant, and Others. Among these, the Antifreeze Coolant end-user segment is expected to have the fastest-growing market during the forecast period 2022-2028. Growing demand for anti-freeze in nations located in temperate and sub-temperate regions is a significant factor enhancing the ethylene glycol industry market growth. Ethylene glycol, a key element in antifreeze compounds, is derived from ethylene oxide. Hydraulic brake fluid is additional substance, which is manufactured using ethylene glycol, and therefore donates to the growing demand for ethylene oxide in the automobile industry. By region, the Asia Pacific market is expected to witness the highest market share during the forecast period.
In July 2021, Dow expanded its production capacity of propylene glycol (PG) by 80,000 tons per year in Map Ta Phut, Thailand.
In November 2021, SABIC announced that a new Ethylene Glycol Plant was set up in Jubail United Petrochemical Company (United).