Diethylene Glycol Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)


Diethylene Glycol Market Analysis:

The market size of Diethylene Glycol (DEG) is projected to increase from 5.66 million tons in 2023 to 8.20 million tons by 2028, with a compound annual growth rate (CAGR) of 7.70% during the forecast period of 2023–2028.

The COVID-19 pandemic had a negative impact on the market, primarily due to the closure of manufacturing facilities and plants as a result of lockdown measures and restrictions. Additionally, disruptions in the supply chain and transportation further hindered the market. However, the industry experienced a recovery in 2021, leading to a rebound in demand for the market under consideration.

In the short term, the market’s growth is driven by increasing demand from the construction, paints, and coatings industries in emerging economies like India and China. On the other hand, the growth of the market is restrained by regulations that limit the use of DEG due to its toxic nature, as well as volatile prices of raw materials.

Nevertheless, the future market presents significant opportunities, particularly in the chemical industry, where there is an increasing demand for diethylene glycol as a chemical intermediate. This demand is fueled by the growing downstream applications in PET resins and the textile industry.

The Asia-Pacific region currently dominates the global market and is expected to be the fastest-growing market. This growth is attributed to the region’s ongoing infrastructure development and rapid industrialization.

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