Diethylene Glycol Market is set to be driven by the growing demand for diethylene glycol in various end-use applications such as personal care products, automotive products, and plastics. A new research report from Market Research Future (MRFR) analyzes the global diethylene glycol market’s growth potential over the forecast period from 2018 to 2023 based on the market’s historical growth trajectory and key market drivers and restraints. An analysis is also provided of the market’s leading segments to determine the hierarchy within the global diethylene glycol market over the forecast period.
Diethylene glycol is used as a plasticizer in the production of plastics such as polyurethane, which has emerged as a major driver for the global diethylene glycol market due to the growing demand for polyurethane in a number of industrial applications. Polyurethane has become a popular material in the construction and automotive industries due to its benefits in terms of imparting solid insulation from environmental components. The growing scope of these industries is likely to be a major driver for the diethylene glycol market over the forecast period.
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Competitive Analysis:
Leading players in the global diethylene glycol market include Huntsman International LLC, DowDuPont Inc., Reliance Industries Limited, Tokyo Chemical Industry Co. Ltd., Merck KGaA, Crystal India, India Glycols Limited, Pon Pure Chemicals, Mitsubishi Chemical Corporation, SABIC, LyondellBasell Industries NV, and Royal Dutch Shell plc.
Industry Updates:
In April 2018, China raised the anti-dumping tariffs on U.S. and European imports of diethylene glycol and ethylene glycol. This could become a significant issue for the global diethylene glycol market due to the prime importance of China as a consumer of diethylene glycol.
Segmentation:
The global diethylene glycol market has been segmented on the basis of application, end-use industry, and region.
On the basis of application, the global diethylene glycol market has been segmented into plasticizer, solvent, polyester resins, chemical intermediate, dehydrant, and personal care products. The plasticizer segment holds the largest share of the global diethylene glycol market, accounting for 35% of the market in 2017, and is likely to retain steady dominance over the forecast period. The solvent and polyester resins segments are also likely to retain major shares in the global diethylene glycol market over the forecast period.
By end-use industry, the global diethylene glycol market has been divided into building and construction, plastics, chemicals, paints and coatings, polymers, and others.
Regional Analysis:
The global diethylene glycol market is expected to be dominated by Asia Pacific over the forecast period due to the growing demand for diethylene glycol from the automotive, building and construction, and chemical industries. Developing countries in Asia Pacific such as India, China, and South Korea are likely to emerge as major consumers of diethylene glycol over the forecast period due to the rapid rise in industrial activities and the growing demand from the construction industry.
