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市場調査レポート
商品コード
1801151
エチレングリコール市場:2025~2033年:製品・製造工程・用途・最終用途産業・地域別市場規模・シェア・動向・予測Ethylene Glycol Market Size, Share, Trends and Forecast by Product, Manufacturing Process, Application, End-Use Industry, and Region, 2025-2033 |
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エチレングリコール市場:2025~2033年:製品・製造工程・用途・最終用途産業・地域別市場規模・シェア・動向・予測 |
出版日: 2025年08月01日
発行: IMARC
ページ情報: 英文 121 Pages
納期: 2~3営業日
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エチレングリコールの世界市場規模は2024年に482億1,000万米ドルとなりました。2033年には681億9,000万米ドルに達すると予測され、2025~2033年のCAGRは3.73%です。市場成長の背景には、新興国市場の都市化の進展、可処分所得の増加、インフラ開拓への多額の投資、ポリエステルやプラスチックの世界の製造拠点としての同地域の役割があります。
エチレングリコールの世界市場成長の原動力は、特に新興国における繊維産業でのポリエステル繊維需要の高まりです。また、ポリエチレンテレフタレート(PET)ボトルや容器のニーズによる包装産業の拡大も市場拡大に寄与しています。例えば、2024年4月、コカ・コーラは米国のPETボトルリサイクル工場に1億米ドルを投資すると発表し、エチレングリコールの消費を大幅に増加させました。さらに、自動車産業が不凍液や冷却水用途でエチレングリコールに依存していることも、市場の成長を促しています。このほか、都市化の進展と開発がプラスチックと樹脂の需要を押し上げ、市場に弾みをつけています。また、生産プロセスにおける技術の進歩が、効率と生産高を向上させ、市場の需要に拍車をかけています。さらに、製薬産業が医療用途にエチレングリコールを使用するようになり、安定した需要を生み出し、市場の拡大を支えています。
米国のエチレングリコール市場の需要は、主にシェールガスブームによって、原料コストの大幅な削減と生産効率の向上がもたらされました。これに伴い、持続可能性への取り組みに後押しされたバイオベースエチレングリコール採用の拡大が市場シェアを強化しています。例えば、2024年に新エネルギー化学はダウと提携し、サステイナブルプラスチック生産のためにバイオベースエチレンを供給しており、エコフレンドリーソリューションへのシフトを強調しています。同時に、好調な航空宇宙産業では、エチレングリコールが解氷液に利用され、市場の成長を後押ししています。さらに、eコマースセグメントの拡大がPET包装の需要を増加させ、市場に弾みをつけています。また、建設活動の増加は樹脂やプラスチックの必要性を高め、市場の成長を後押ししています。これとは別に、熱伝導流体にエチレングリコールを使用するソーラーパネルなどの再生可能エネルギー(RE)技術の継続的な進歩が、市場を前進させています。
市場は、生産方法における継続的な技術進歩、戦略的パートナーシップ、バイオベースエチレングリコールへのシフトによって大きな影響を受けています。このセグメントにはいくつかの開発があります。例えば、2024年6月27日、Technip Energiesは、バイオベースモノエチレングリコール(MEG)生産のためのBio 2 Glycols(TM)プラットフォームを加速するために、Shell Catalysts & Technologiesからグリコール精製技術を買収したと発表しました。この契約は、シェルの研究開発(R&D)とテクニップ・エナジーズ独自のバイオMEGプロセスを組み合わせることで、効率を高め、ポリエステル製造において化石ベースMEGに代わる低炭素の代替品を提供するものです。テクニップ・エナジーズは、2025年までにこのアップグレード技術を商業化し、ネットゼロカーボン目標に貢献するという戦略目標をサポートすることを期待しています。さらに市場には、原料価格の変動や石油化学製品の生産に関する環境問題など、いくつかの課題もあります。これらを克服するため、企業はより効率的な生産技術とサステイナブル原料調達に投資しています。また、再生可能ベースエチレングリコール生産を拡大することで、サプライチェーンの課題と環境規制の両方に対処できる大きな機会が生まれます。
ポリエステルとPET樹脂生産における製品利用の拡大
エチレングリコール市場の拡大は、主にポリエステルの生産需要の増加に起因しています。合成繊維ポリエステルは、エチレングリコールとテレフタル酸の化学的結合から生まれます。また、繊維メーカーは、エチレングリコールのしわになりにくい特性と競合価格に加え、その長期的な品質から、エチレングリコールを広く使用しています。また、飲食品包装材料として使用されるPET樹脂やフィルムは、ポリエチレンテレフタレート化学によって広く合成されるため、市場は拡大します。これに加えて、PETの需要は、都市化の動向と消費者の生活の選択肢の変化から生じる包装商品の消費の増加という2つの主要因によって顕著な増加を経験しました。例えば、国連のデータによると、2050年までに地球人口の68%が都市住民になると予想されており、これが包装商品の生産を押し上げ、PETベース包装の必要性を高めています。その結果、人口構造の変化がエチレングリコールと派生製品の市場拡大を促進します。
自動車産業の急速な拡大
エチレングリコールは、不凍液や冷却剤として自動車産業で広く利用されており、エチレングリコールの市場動向に影響を与えています。エチレングリコールの高沸点・低凝固点特性により、様々な温度で効率的なエンジン運転が可能になるため、自動車産業では、ラジエーター冷却剤としてエチレングリコールが必要とされています。新興国における自動車セクタの成長は、エチレングリコール市場の直接的な需要を誘発すると同時に、市場の拡大を支えています。欧州の自動車工業会(ACEA)の2022年のデータによると、世界の自動車生産台数は8,540万台で、2021年の数字から5.7%増加しました。これに伴い、自動車市場が拡大すれば、エチレングリコールを含む自動車セクタ全体の需要が高まります。さらに、電気自動車(EV)の生産台数が増加しており、エチレングリコールはこれらの自動車に使用されるバッテリーや電子部品を積極的に冷却するため、市場の成長を促進しています。人々はサステイナブル輸送手段を選択するため、市場はEVの採用から支援を受けています。
様々な産業用途で広く使用されています。
エチレングリコールは、様々な産業で幅広く使用されており、市場の成長に大きく貢献しています。この化学品は、不凍液や油圧作動油を製造するための基本成分として機能し、冷却装置の熱交換媒体として動作します。塗料やプラスチック産業では溶剤として利用され、市場は拡大しています。皮革産業ではなめしプロセスにエチレングリコールが広く使用され、エレクトロニクス産業ではコンデンサ製造にエチレングリコールが使用されています。最近の産業レポートによると、中国では2030年までに都市人口を70%にするために都市化が進んでおり、エチレングリコールは主に住宅や商業ビルの建設に使用されています。同市場では、今後数年間で建材と冷却システムの需要が急増するため、都市化が急激に進むと予測しています。また、エチレングリコールの新たなアプリケーションを開発する継続的な技術改善とセグメントの革新により、市場は成長を示しています。
急速な技術進歩
エチレングリコールのアプリケーションと生産における継続的な技術進歩は、市場成長において極めて重要な役割を果たしています。費用対効果が高く、エコフレンドリーエチレングリコールの合成を可能にする革新的な生産方法が、市場成長の原動力となっています。触媒技術とプロセスの最適化における最近の進歩は、エネルギー消費を抑えながら収率を向上させ、より持続可能で経済的に実行可能な生産システムをもたらし、市場拡大を後押ししています。市場の拡大は、再生可能なバイオマス原料でエチレングリコールを製造することを可能にする新たな技術の進歩によって、さらに後押しされています。ブラスケムは2023年6月、ブラジルのリオグランデ・ド・スル州トリウンフォの施設において、バイオベースエチレンプラント生産量の30%増を達成しました。8,700万米ドルの資本注入は、サステイナブル製品に対する世界の要求の高まりを満たすことを目的としています。環境問題や公的な排出削減要求により、市場は拡大を続けています。
非イオン性界面活性剤の需要増加
エチレングリコールは、洗剤や乳化剤、湿潤剤などの非イオン性界面活性剤製造時の基本成分として機能します。非イオン性界面活性剤は、その安定性と非反応性により、工業製品と消費者製品の両方で広く使用されています。非イオン界面活性剤は、家庭用洗浄剤やパーソナルケア製品だけでなく、食品産業用乳化剤や農薬、繊維加工剤として機能する産業用途でも幅広く使用されています。さらに、消費者の消費意欲の高まり、急速な都市化、衛生・清潔に対する意識の高まりといった要因も、市場の成長を後押ししています。食糧農業機関は、2050年までに世界人口が90億人を超えると予測しています。将来の食糧需要により、農業システムはかつてない重圧の中で運営されることが求められます。人口の増加は農産物の必要量を増加させ、農薬製剤における界面活性剤の使用量を増加させています。これとは別に、界面活性剤化学における新たなブレークスルーと先進的化学配合開発技術が、エチレングリコール市場の展望を高めています。
The global ethylene glycol market size was valued at USD 48.21 Billion in 2024. The market is projected to reach USD 68.19 Billion by 2033, exhibiting a CAGR of 3.73% from 2025-2033. The market growth is attributed to growing urbanization, rising disposable incomes, significant investments in infrastructure development, and the region's role as a global manufacturing hub for polyester and plastics.
The global ethylene glycol market growth is driven by the rising demand for polyester fibers in the textile industry, particularly in emerging economies. In addition, the expanding packaging industry, driven by the need for polyethylene terephthalate (PET) bottles and containers are contributing to the market expansion. For instance, in April 2024, Coca-Cola announced a USD100 million investment in PET bottle recycling plants in the U.S., significantly increasing ethylene glycol consumption. Moreover, the automotive sector's reliance on ethylene glycol for antifreeze and coolant applications is impelling the market growth. Besides this, the increasing urbanization and infrastructure development drive the demand for plastics and resins, providing an impetus to the market. Also, ongoing technological advancements in production processes enhance efficiency and output, fueling the market demand. Furthermore, the growing pharmaceutical industry's use of ethylene glycol in medical applications creates steady demand, supporting the market expansion.
The United States ethylene glycol market demand is primarily driven by the shale gas boom, which has significantly reduced raw material costs and enhanced production efficiency. In line with this, the growing adoption of bio-based ethylene glycol, driven by sustainability initiatives, is strengthening the market share. For example, in 2024, New Energy Chemicals partnered with Dow to supply biobased ethylene for sustainable plastics production, highlighting the shift toward eco-friendly solutions. Concurrently, the robust aerospace industry utilizes ethylene glycol in de-icing fluids, boosting the market growth. Additionally, the expanding e-commerce sector increases demand for PET packaging, which is providing an impetus to the market. Also, the rise in construction activities drives the need for resins and plastics, aiding the market growth. Apart from this, continuous advancements in renewable energy (RE) technologies, such as solar panels, which use ethylene glycol in heat transfer fluids, are thereby propelling the market forward.
The market is majorly influenced by the continual technological advancements in production methods, strategic partnerships, and the shift toward bio-based ethylene glycol. There are several developments in the sector. For instance, on June 27, 2024, Technip Energies announced the acquisition of glycol purification technology from Shell Catalysts & Technologies to accelerate its Bio 2 Glycols(TM) platform for bio based mono ethylene glycol (MEG) production. The agreement combines Shell's research and development (R&D) advancements with Technip Energies' proprietary bio MEG process to enhance efficiency and offer a lower carbon alternative to fossil based MEG in polyester manufacturing. Technip Energies expects to commercialize the upgraded technology by 2025, supporting its strategic objective to contribute to net zero carbon goals. Furthermore, there are a few challenges in the market, including fluctuating raw material prices and environmental concerns over petrochemical production. To overcome these, companies are investing in more efficient production techniques and sustainable sourcing of raw materials. Also, significant opportunities arise in expanding renewable-based ethylene glycol production, which can help address both supply chain challenges and environmental regulations.
The Increasing Product Utilization in Polyester and PET Resin Production
The expansion of ethylene glycol market stems primarily from rising polyester production requirements. The synthetic textile polyester is derived from the chemical combination of ethylene glycol with terephthalic acid. Additionally, textile manufacturers widely use ethylene glycol because of its long-term quality alongside its anti-wrinkling properties and competitive price. The market also expands because PET resins and films used as food and beverage packaging materials are extensively synthesized through polyethylene terephthalate chemistry. Besides this, PET demand experienced a notable increase due to two main factors, rising packaged goods consumption which results from both urbanization trends and shifting consumer life choices. For instance, the United Nations data suggests 68% of Earth's population will become urban residents by 2050 which will drive up packaged goods production and escalate PET-based packaging needs. As a result, the changing population structure drives an increased market expansion for ethylene glycol and derivative products.
Rapid Expansion of the Automotive Industry
Ethylene glycol is widely utilized in the automotive industry as an antifreeze and coolant, which is influencing the ethylene glycol market trends. As radiator coolants in manufacturing the automotive industry requires ethylene glycol because its high boiling point and low freezing point properties enable efficient engine operations across various temperatures. The growth of the automotive sector across emerging economies induces direct ethylene glycol market demand while supporting market expansion. According to European Automobile Manufacturers Association (ACEA) data from 2022 the world produced 85.4 million motor vehicles marking a 5.7% increase over 2021 figures. Concurrent to this, when the vehicle market expands then the entire automotive sector including ethylene glycol becomes more in demand. Furthermore, the increasing production of electric vehicles (EVs) is fostering the market growth, since ethylene glycol actively cools batteries and electronic components used in these vehicles. The market receives support from EV adoption because people choose sustainable transportation solutions.
Widespread Product Utilization in Various Industrial Applications
Ethylene glycol finds diverse applications in various industries, contributing significantly to the market growth. The chemical serves as a basic ingredient for producing antifreeze solutions and hydraulic fluids and operates as heat exchange medium in cooling equipment. The market grows through its utilization in paint and plastic industries as a solvent. The leather industry's extensive use of ethylene glycol for tanning processes and the electronics industry's use of ethylene glycol for capacitor manufacturing are fueling market growth thanks to its properties including low volatility and hygroscopic nature. A recent industry report indicates that China's ongoing urbanization push to reach a 70% urban population by 2030 has generated substantial demand for ethylene glycol which primarily serves residential and commercial building construction. The market expects urbanization to rise exponentially as construction material and cooling system requirements surge in the coming years. The market also shows growth due to both the continuous technological improvements and sector innovations which develop fresh applications for ethylene glycol.
Rapid Technological Advancements
Ongoing technological advancements in the application and production of ethylene glycol are playing a pivotal role in the market growth. The market growth is fueled by innovative production methods that enable cost-effective and environmentally friendly ethylene glycol synthesis. Recent advancements in catalysis techniques and process optimization have boosted market expansion by increasing yield while reducing energy consumption, resulting in more sustainable and economically viable production systems. The market expansion is further supported by new technological advances that allow producers to create ethylene glycol with renewable biomass materials. Braskem achieved a 30% boost in bio-based ethylene plant output at its Triunfo, Rio Grande do Sul, Brazil facility during June 2023. A USD 87 million capital injection aims to satisfy escalating global requirements for sustainable products. The market continues to expand due to environmental worries and official emission reduction requirements.
Rising Demand for Non-Ionic Surfactants
Ethylene glycol functions as a fundamental component during non-ionic surfactant production for detergents and emulsifiers and wetting agents. Non-ionic surfactants are widely used in both industrial and consumer products due to their stability and non-reactive properties. Non-ionic surfactants find extensive use in household cleaning products and personal care products as well as industrial usage where they act as food industry emulsifiers and agrochemicals and textile processing agents. Furthermore, the market growth is fueled factors such as the rising consumer spending power, rapid urbanization and increased awareness about hygiene and cleanliness. The Food and Agriculture Organization projects the world population will exceed 9 billion by 2050. Future food demands will require agricultural systems to operate under unprecedented pressure. The growing population increases agricultural product requirements which leads to higher surfactant usage in agrochemical formulations. Apart from this, new breakthroughs in surfactant chemistry together with advanced chemical formulation development techniques are enhancing the ethylene glycol market outlook.
According to the report, monoethylene glycol (MEG) represented the largest segment with 40.0% of the ethylene glycol market share. Monoethylene glycol (MEG) holds the largest market share.
Monoethylene Glycol (MEG) finds the majority of its usage as a major raw material in producing polyethylene terephthalate (PET) resins, which are extensively applied in packaging, particularly in plastic bottles and food containers. Furthermore, MEG is also an important ingredient in the production of polyester fibers, which are widely used in the textile market. Its antifreeze and heat transfer fluid characteristics also render it indispensable for use in vehicles and HVAC applications. Growth in MEG demand is also fueled by the increasing use of PET in the beverage and apparel industries, especially in the developing economies of Asia Pacific. Continuing industrialization, mounting demand for consumer goods, and packaging industry growth support MEG's ongoing popularity in the ethylene glycol market to make it a crucial product segment worldwide.
The ethylene oxide process involves the reaction of ethylene oxide with water under high pressure and temperature, resulting in the production of ethylene glycol. The primary advantage of this method is its high efficiency and ability to produce ethylene glycol with a high purity level, which is crucial for applications in sensitive industries like food and pharmaceuticals.
The coal-based process for manufacturing ethylene glycol is an alternative method that has gained attention, especially in regions with abundant coal reserves and limited access to petrochemical feedstocks. This process involves the gasification of coal to produce syngas, which is then converted into ethylene glycol. Coal-based process offers a degree of energy independence and can be more cost-effective in coal-rich regions.
The biological route for producing ethylene glycol involves the use of bio-based feedstocks, such as sugars from biomass, to produce ethylene glycol through fermentation or other biological processes. It decreases reliance on fossil fuels and lowers the carbon footprint of ethylene glycol production. Additionally, recent innovations and technological advancements in biotechnology and biochemical engineering, making it easier to produce ethylene glycol, are fueling the market growth.
According to the report, PET represented the largest segment by holding 44.4% of the market share. PET (polyethylene terephthalate) holds the largest market share.
Polyethylene Terephthalate (PET) is the largest application segment in the ethylene glycol market and captures a major share of global demand. Ethylene glycol, or more specifically monoethylene glycol (MEG), is a major raw material employed in the manufacture of PET that is extensively used to make plastic bottles, food and drink containers, and man-made fibers. Increased demand for lightweight, strong, and recyclable packaging materials has fueled the use of PET, particularly in the food and beverage sectors. Additionally, the growing trend toward sustainable packaging options and the growing usage of bottled drinks in emerging markets further increase demand for PET. Further, the usage of PET in the textile industry, particularly for polyester fiber production, aids in market growth. With the growing use of PET in various high-growth sectors, its share in the ethylene glycol market remains high and increasing.
Ethylene glycol is used in the oil and gas industry for natural gas dehydration, a process that removes water vapor from natural gas to prevent hydrate formation and pipeline corrosion, ensuring the safe and efficient transportation of gas. Additionally, ethylene glycol is utilized in hydraulic and drilling fluids within the industry.
The plastic industry relies on ethylene glycol as a key ingredient in producing polyethylene terephthalate (PET), a widely used plastic. PET is essential for various applications, including packaging materials like bottles and containers, as well as fibers for textiles. Furthermore, the increasing demand for sustainable and lightweight packaging solutions is driving market growth.
The transportation industry, encompassing the automotive and aviation sectors, is a vital end-use segment for ethylene glycol. In automotive applications, ethylene glycol is predominantly used as an antifreeze and coolant in vehicle cooling systems, which is essential for maintaining engine performance and longevity. Additionally, ethylene glycol is used in the aviation industry for producing deicing solutions for aircraft.
In the medical industry, ethylene glycol is used in various pharmaceutical products and medical processes. It serves as a solvent and stabilizer in pharmaceutical formulations and as a desiccant in packaging to protect medications from moisture. Additionally, ethylene glycol is involved in the production of medical devices and equipment, where its chemical stability and compatibility with other materials are advantageous.
The textile industry utilizes ethylene glycol in the production of polyester fibers. It is widely used in fabrics due to its durability, resistance to wrinkling, and ease of maintenance. Additionally, the growing demand for polyester fibers in the fashion industry, home furnishings, and industrial applications, is contributing to the market growth.
In 2024, Asia Pacific accounted for the largest market share of over 40%. The region boasts some of the world's most prominent textile and packaging industries, both of which are among the key end-users of ethylene glycol, specifically for the manufacturing of PET and polyester fibers. Other countries like China, India, South Korea, and Japan have undergone swift industrialization and urbanization, leading to high demand for ethylene glycol-based products in industries such as automotive, construction, and consumer goods. China leads the production and consumption of ethylene glycol, backed by an established petrochemical infrastructure and emerging export operations. Moreover, growth in disposable income and shifting lifestyles are driving demand for packaged clothing and drinks, further stimulating market expansion. Asia Pacific's robust manufacturing base and affordability make it a pivotal position in the world supply chain for ethylene glycol.
North America Ethylene Glycol Market Analysis
North America's ethylene glycol market is characterized by a well-established industrial sector and advanced technological infrastructure. Furthermore, the region's demand for ethylene glycol is primarily driven by its robust automotive, textile, and plastic industries. Additionally, the presence of a mature pharmaceutical industry in the region, creating a steady demand for ethylene glycol in medical applications, is favoring the market growth.
The region also benefits from significant investments in research and development (R&D), enhancing production efficiency and expanding application areas. For instance, Dow Inc. unveiled a new bio-based ethylene glycol production facility in Texas, aiming to reduce greenhouse gas emissions by 30%. Moreover, stringent environmental regulations are pushing the adoption of bio-based ethylene glycol, propelling the market growth in North America.
United States Ethylene Glycol Market Analysis
The ethylene glycol market expansion relies heavily on two primary factors from continuous crude oil production along with growing petrochemical industry needs. Industry data shows that U.S. crude oil production reached its highest levels at 13.3 million b/d during December 2023, and this boosts ethylene glycol demand along with other petrochemical products. Scattered throughout plastics and rubber manufacturing sectors ethylene glycol shipments exceeded USD 24.4 billion and then ascended to USD 24.9 billion in 2023. The steady growth of plastic manufacturing drives demand for ethylene glycol because it serves as a fundamental ingredient in polyester fibers and PET plastics production. The market expands intensively as environmental legislation and green consumer preferences drive sustainable bio-based ethylene glycol development that brings rapid market growth. Market expansion is supported by technological developments and the growing applications of PET plastics along with automotive and textile and medical sectors.
Europe Ethylene Glycol Market Analysis
There are several key drivers of the growth of the ethylene glycol market in Europe. European plastics production stood at 57.2 million tons in 2021, as reported by Plastics Europe, with ethylene glycol playing a critical role in the production of polyethylene terephthalate (PET) plastics used in various applications, such as packaging, textiles, and consumer goods. The European textile industry, led by Germany, Spain, France, Italy, and Portugal, accounts for more than one-fifth of the global textile market. The production of polyester, which utilizes ethylene glycol, plays a significant role in this industry's growth. In addition, according to reports, the adoption of electric vehicles in Europe has grown by more than 65% year-on-year to 2.3 million units in 2021, which is having a positive impact on the ethylene glycol market. Ethylene glycol is used in electric vehicle battery cooling systems, increasing demand in the automotive industry. Generally, industrial growth, sustainable practices, and changes in consumer needs are driving the ethylene glycol market in Europe.
Asia Pacific Ethylene Glycol Market Analysis
The Asia Pacific market for ethylene glycol is growing strongly on the back of numerous factors in diverse industries. As per the ethylene glycol market research report, the market growth is mainly driven by the high levels of industrialization and urbanization in the region, particularly within the automotive, textile, and plastics industries. Electric vehicle demand is increasingly driving the sale of ethylene glycol since the Indian government aimed at 2030 to secure 30% new vehicle sales to be an electric vehicle in the automotive field, as per reports. In addition, Asia-Pacific countries, where the textile companies, such as China, India, and Bangladesh are mainly located; therefore, huge polyester and synthetic fabric production goes through ethylene glycol consumptions. The region also has an ever-growing plastics industry, especially the polyethylene terephthalate (PET) used in packaging, with significant demand for this commodity in food and beverages. Further, disposable income, combined with consumer awareness about hygiene, has increased demand for ethylene glycol in personal care products and cleaning agents, thus further fueling market growth.
Latin America Ethylene Glycol Market Analysis
The Latin America (LAC) ethylene glycol market experiences growth because agriculture stands as a prime economic driver throughout the region. The 2020 World Bank report demonstrates that agriculture generates 5-18% of GDP in 20 LAC countries which drives ethylene glycol consumption for agricultural chemicals including pesticides and fertilizers. Market growth receives additional momentum from packaging and textile industries which maintain high demand for plastics and synthetic fibers. Polyethylene terephthalate (PET) production begins with ethylene glycol as its fundamental starting material for making packaging products that mainly serve food and beverage consumption while experiencing growing demand from rising packaged food markets. The automotive sector in Brazil and Mexico serves as a primary market driver because ethylene glycol functions as antifreeze and coolant material. The demand for ethylene glycol in battery cooling applications receives additional support from rising electric vehicle production investments that result from government environmental initiatives and incentives.
Middle East and Africa Ethylene Glycol Market Analysis
The Middle East and Africa ethylene glycol market is significantly influenced by the region's dominance in the global energy landscape. With five of the world's top 10 oil producers and three of the top 20 gas producers, the region's significant energy exports offer a strong foundation for sustained industrial growth. According to the International Energy Agency (IEA), in 2022, MEA region holds over 40 percent of global exports in oil which, in return, has expanded demand for ethylene glycol in petrochemical industries. Market growth was supported by significant use of this chemical in various applications such as antifreeze and lubricant by the petroleum and gas industry. In addition, the growth in plastic, textiles, and automobiles is creating huge demand for ethylene glycol from the manufacturing industry, especially from Saudi Arabia and the UAE. Increasing electric vehicles production and a new emphasis on sustainable living are increasing demand for ethylene glycol for battery cooling systems and other green products.
Major players are focusing on expanding their production capacity to meet the global demand for ethylene glycol. It involves upgrading existing facilities and building new plants, especially in regions with high demand. Additionally, they are focusing on developing advanced production technologies to increase yield and efficiency. Additionally, top ethylene glycol manufacturers are forming partnerships, joint ventures, and collaborations with other companies and organizations to exchange technological expertise, broaden market reach, and lower operational costs. According to the ethylene glycol market forecast, the market is expected to witness significant growth due to strategic partnerships between companies and research institutions to explore new production methods and applications.