에틸렌글리콜 시장 : 시장 점유율 분석, 업계 동향 및 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the ethylene glycol market size is projected to expand from 42.21 Million tons in 2025 and 44.54 Million tons in 2026 to 58.27 Million tons by 2031, registering a CAGR of 5.52% between 2026 to 2031.

This report is Segmented by Product Type (Monoethylene Glycol, Diethylene Glycol, and Triethylene Glycol), Manufacturing Process (Ethylene-Oxide Route, Coal-To-MEG, Bio-Based Route), Application (Polyester Fiber, PET, and More), End-User Industry (Textiles and Apparel, Automotive, and More), and Geography (Asia-Pacific, North America, and More). The Market Forecasts are Provided in Terms of Volume (Tons).

Global Ethylene Glycol Market Trends and Insights

Electric Vehicle Thermal-Management Coolant Demand Surge

Liquid-cooled battery packs, power electronics, and e-motors in BEVs generally require 50-60% ethylene-glycol-water mixtures for temperature regulation. Tesla's 2026 Model Y manuals specify HTF-LS for North America, G48 for Europe, and LC100 for China, all within the 50-60% concentration range to ensure corrosion resistance and thermal efficiency. As 800-volt drivetrains become more common, vehicle-level glycol volumes are increasing, driving long-term growth in the ethylene glycol market. Chinese OEMs like BYD are already incorporating multiple glycol circuits per vehicle, while U.S. gigafactories are customizing coolant grades to prevent cross-contamination. While dielectric immersion coolants may find niche applications in high-performance vehicles, mainstream electrified fleets continue to rely on water-glycol mixtures, ensuring steady demand growth.

Mega-Cracker Capacity Additions in Asia

Six large ethylene complexes planned for start-up between late 2025 and 2027 in China and South Korea are expected to add over 3 million tons of new MEG nameplate capacity. Saudi Aramco and Sinopec's 1.8-million-ton cracker at the YASREF refinery exemplifies the shift toward liquids-to-chemicals production, utilizing advantaged crude feedstocks for glycols and derivatives. Short-term oversupply may reduce Chinese operating rates by 1-2 percentage points, but integrated cost advantages allow coal-to-MEG producers to maintain throughput despite narrower margins. This additional capacity improves regional availability for downstream polyester exporters and helps stabilize raw material costs for fiber spinners.

EU REACH Limits on DEG Workplace Exposure

The Health Council of the Netherlands has recommended an 8-hour exposure limit of 70 mg/m3 for diethylene glycol (DEG), with a skin notation indicating dermal absorption risks Variations in national limits, ranging from Denmark's 11 mg/m3 to the UK's 101 mg/m3, complicate compliance and increase costs for ventilation, monitoring, and personal protective equipment. As a result, downstream users, such as brake-fluid and solvent blenders, may shift toward propylene glycol or higher-purity MEG derivatives, potentially reducing DEG's growth prospects within the ethylene glycol market.

Other drivers and restraints analyzed in the detailed report include:

1. Accelerating Shift to Bio-Based MEG
2. AI-Optimized Demand Forecasting Boosts Inventory Pull-Through
3. Virgin-PET Demand Erosion After 2028 Recycling Mandates

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Monoethylene glycol captured 86.44% of 2025 shipments, anchored by polyester fiber and PET resin chains. The segment's absolute volume rise keeps the ethylene glycol market size on a solid trajectory, even as MEG's proportional share edges lower due to faster-growing specialties. Diethylene glycol is projected to grow at a 8.47% CAGR to 2031, energized by higher-spec brake fluids that rely on methyl diglycol and methyl triglycol, both manufactured via DEG intermediates. Triethylene glycol remains a stable niche tied to natural-gas dehydration; its fortunes mirror upstream drilling cycles.

Capacity investments echo these trends. BASF's Zhanjiang methyl-glycols plant, starting late-2025, will channel DEG feed into modern brake-fluid grades for China's expanding auto parc. Regulatory toxicity scrutiny, however, could constrain DEG, nudging formulators toward safer propylene glycol alternatives in food and pharma uses. As specialty blends claim a price premium, balanced portfolios help producers buffer swings in commodity MEG margins and sustain ethylene glycol market share leadership.

The ethylene-oxide process supplied 77.79% of the 2025 output, leveraging cracker integration and advantaged ethane in North America. Coal-to-MEG supplied much of China's incremental volume over the last decade but now faces tightening carbon costs and lower run rates. Approximately 1.5 million tons of coal-based capacity is unlikely to restart, trimming future supply slack.

Bio-based route is the fastest-growing slice at a 9.23% CAGR to 2031. Sustainea's Lafayette project exemplifies scalable, drop-in renewable MEG compatible with legacy PET assets, and UPM's hardwood-based BioPura could deliver negative-carbon glycols mid-term. Demonstration units employing MOSAIK sugar-cracking chemistry are distributing samples to polyester brands evaluating full-cycle CO2 metrics. As buyers embed Scope 3 targets into procurement, premiums for verified low-carbon glycols may cement bio-MEG as a mainstream supply tier within the ethylene glycol market.

Geography Analysis

Asia-Pacific accounted for 59.22% of the 2025 volume and is forecast to expand at a 5.78% CAGR to 2031. China's near-self-sufficiency compresses imports, while 2026 start-ups add short-term pressure on margins. Saudi Arabia supplied over half of China's MEG imports in 2024-2025, leveraging cost-advantaged liquids-to-chemicals complexes such as the YASREF expansion. India's polyester uptick and Reliance Industries' domestic price increases signal tightening balances in South Asia.

North America enjoys shale-gas cost leadership. Dow's 100,000 tons per year ethylene supply boost to MEGlobal's Oyster Creek unit and ExxonMobil-SABIC's 1.1 million tons per year MEG line reinforce the region's export posture. Sustainea's bio-MEG plant introduces a renewable stream that aligns with U.S. corporate decarbonization agendas.

Europe battles high energy costs; over 50 chemical sites either closed or curtailed between 2023 and mid-2025. INEOS' Cologne shutdown of propylene glycol in October 2025 illustrates margin pressure, while EU circular-economy statutes nudge investment toward chemical recycling. Import-reliance for glycols is therefore inching upward.

South America and the Middle-East and Africa capture smaller share. Indorama Ventures' 4,000 tons per year Lagos rPET plant, slated for 2027, underpins Africa's first large-scale recycled-glycol value chain. Saudi Aramco's USD 100 billion liquids-to-chemicals roadmap further entrenches Middle-East export heft, ensuring the ethylene glycol market retains globally balanced supply nodes.

1. BASF
2. China Petrochemical Corporation
3. Dow
4. Equate Petrochemical Company
5. Formosa Plastics Corporation, U.S.A.
6. Indorama Ventures Public Company Limited
7. INEOS
8. LOTTE Chemical Corporation
9. Mitsubishi Chemical Group Corporation
10. PTT Global Chemical Public Company Limited
11. Reliance Industries Limited
12. SABIC
13. Sasol
14. Shell plc
15. Technip Energies N.V.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Electric vehicle thermal-management coolant demand surge
  • 4.2.2 Mega-cracker capacity additions in Asia
  • 4.2.3 Accelerating shift to bio-based MEG
  • 4.2.4 AI-optimised demand-forecasting boosts inventory pull-through
  • 4.2.5 On-purpose rMEG from chemical recycling loops
• 4.3 Market Restraints
  • 4.3.1 EU REACH limits on DEG workplace exposure
  • 4.3.2 Virgin-PET demand erosion after 2028 recycling mandates
  • 4.3.3 Carbon-pricing shocks on coal-to-MEG projects
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Degree of Competition

5 Market Size and Growth Forecasts (Volume)

• 5.1 By Product Type
  • 5.1.1 Monoethylene Glycol (MEG)
  • 5.1.2 Diethylene Glycol (DEG)
  • 5.1.3 Triethylene Glycol (TEG)
• 5.2 By Manufacturing Process
  • 5.2.1 Ethylene-Oxide Route
  • 5.2.2 Coal-to-MEG (CTM)
  • 5.2.3 Bio-Based Route
• 5.3 By Application
  • 5.3.1 Polyester Fibre
  • 5.3.2 PET
  • 5.3.3 Antifreeze and Coolant
  • 5.3.4 Industrial Films and Sheets
  • 5.3.5 Other Applications
• 5.4 By End-user Industry
  • 5.4.1 Textiles and Apparel
  • 5.4.2 Automotive
  • 5.4.3 Oil and Gas
  • 5.4.4 Plastics and Packaging
  • 5.4.5 Medical and Pharmaceutical
  • 5.4.6 Other End-user Industries
• 5.5 By Geography
  • 5.5.1 Asia-Pacific
    • 5.5.1.1 China
    • 5.5.1.2 India
    • 5.5.1.3 Japan
    • 5.5.1.4 South Korea
    • 5.5.1.5 ASEAN Countries
    • 5.5.1.6 Rest of Asia-Pacific
  • 5.5.2 North America
    • 5.5.2.1 United States
    • 5.5.2.2 Canada
    • 5.5.2.3 Mexico
  • 5.5.3 Europe
    • 5.5.3.1 Germany
    • 5.5.3.2 United Kingdom
    • 5.5.3.3 France
    • 5.5.3.4 Italy
    • 5.5.3.5 Russia
    • 5.5.3.6 Rest of Europe
  • 5.5.4 South America
    • 5.5.4.1 Brazil
    • 5.5.4.2 Argentina
    • 5.5.4.3 Rest of South America
  • 5.5.5 Middle-East and Africa
    • 5.5.5.1 Saudi Arabia
    • 5.5.5.2 South Africa
    • 5.5.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share (%)/Ranking Analysis
• 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Products and Services, and Recent Developments)
  • 6.4.1 BASF
  • 6.4.2 China Petrochemical Corporation
  • 6.4.3 Dow
  • 6.4.4 Equate Petrochemical Company
  • 6.4.5 Formosa Plastics Corporation, U.S.A.
  • 6.4.6 Indorama Ventures Public Company Limited
  • 6.4.7 INEOS
  • 6.4.8 LOTTE Chemical Corporation
  • 6.4.9 Mitsubishi Chemical Group Corporation
  • 6.4.10 PTT Global Chemical Public Company Limited
  • 6.4.11 Reliance Industries Limited
  • 6.4.12 SABIC
  • 6.4.13 Sasol
  • 6.4.14 Shell plc
  • 6.4.15 Technip Energies N.V.

7 Market Opportunities and Future Outlook

• 7.1 White-space and Unmet-need Assessment