Stratistics MRC에 따르면 세계의 에틸렌 글리콜 시장은 2024년 408억 7,000만 달러를 차지하고 예측 기간 동안 CAGR은 8.7%로 성장해 2030년에는 674억 2,000만 달러에 이를 것으로 예상됩니다.
에틸렌글리콜은 화학식 C2H6O2로 표시되는 무색·무취·감미가 있는 유기 화합물입니다. 점성이 있는 액체로, 자동차의 냉각 시스템의 부동액으로서, 또 폴리에스테르 섬유나 수지의 제조 원료로서 널리 사용되고 있습니다 에틸렌 글리콜은 항공기와 활주로의 제빙액에도 이용되고 있습니다. 안전한 취급과 폐기가 필수적입니다.
확대되는 포장용 PET
가볍고 내구성이 뛰어나 재활용이 가능하기 때문에 식품 및 식품 업계에서는 PET 포장에 대한 사용이 확대되고 있습니다. 또한 지속 가능한 포장을 요구하는 세계의 움직임도 재활용 가능한 PET 수요를 밀어 올리고 있습니다. 이와 같이 PET 시장의 확대는 에틸렌 글리콜의 소비를 직접 촉진하여 꾸준한 성장을 보장하고 있습니다.
원료 가격 변동
원료 가격, 특히 원유 가격의 변동은 에틸렌 글리콜의 생산 비용에 직접 영향을 미칩니다. 이로 인해 제조업체가 안정적인 가격 설정을 유지하기가 어렵습니다. 또한 급격한 가격 상승은 비용에 민감한 업계 수요를 줄일 수 있습니다. 어려움과 잠재적인 시장 축소로 이어질 수 있습니다.
생산 기술의 진보
생산기술의 진보는 보다 낮은 에너지 소비로 보다 높은 수율을 가능하게 하고, 생산을 보다 비용효율이 높은 것으로 합니다. 환경 규제에 대응하는데도 도움이 되며, 그 결과 생산자는 환경을 배려하면서 경쟁력 있는 가격 설정을 실현할 수 있습니다. 전체적으로 이러한 기술 개량이 시장 성장의 원동력이 되고, 에틸렌글리콜은 보다 친숙하고 지속가능하게 되고 있습니다.
환경 의식 증가
에틸렌 글리콜의 독성 등 환경 의식이 높아짐에 따라 인간과 환경 모두에 대한 안전성에 대한 우려가 높아지고 있습니다. 엄격한 환경 규제와 지속가능성 목표는 기존의 에틸렌 글리콜의 생산과 사용을 제한합니다.
COVID-19의 영향
COVID-19의 유행은 수소 자동차 시장에 큰 영향을 주었으며 공급망 혼란, 생산 지연, 경제 불확실성으로 인한 소비자 수요 감소를 일으켰습니다. 인프라 개척을 중단하고 시장 성장을 더욱 둔화 시켰습니다. 팬데믹은 지속가능하고 깨끗한 에너지 솔루션의 중요성을 부각시키고 정부의 이니셔티브와 수소 기술에 대한 투자에 박차를 가했습니다.
예측 기간 동안 트리에틸렌 글리콜(TEG) 부문이 최대가 될 전망
예측 기간 동안 트리에틸렌 글리콜(TEG) 부문은 다양한 용도로 시장 점유율을 독점할 것으로 예상됩니다. 수분을 효율적으로 제거합니다. 또한 TEG는 화장품 및 퍼스널케어 제품의 보습제로 사용되며 피부 매끄러운 보습성을 높이고 있습니다. 이 제품에 대한 수요가 증가함에 따라 TEG 시장을 뒷받침합니다. 비용 효율적인 솔루션을 추구하는 동안 TEG 분야는 에틸렌 글리콜 시장 전체의 중요한 견인 역할을 계속하고 있습니다.
예측기간 동안 의약품 분야가 가장 높은 CAGR이 예상
의약품 분야는 다양한 용도로 사용되기 때문에 예측 기간 동안 유리한 성장을 기록할 것으로 예상됩니다. 또한 의료기기와 포인트 적액, 시럽 등의 제제의 제조에도 사용됩니다.또한, 백신이나 기타 바이오 의약품의 조제에도 일역 구입하고 있습니다. 성을 높이고 있습니다.
예측 기간 동안 아시아태평양은 급속한 산업화, 도시화, 다양한 최종 이용 산업 수요 증가로 시장 점유율을 독점할 것으로 예상됩니다. 특히 중국, 인도, 일본 등의 국가에서는 자동차, 섬유, 포장 분야는 에틸렌 글리콜의 중요한 소비자입니다 자동차 산업의 활황에 더해, PET병의 생산량이 증가하고 있는 것도, 시장 수요를 더욱 밀어 올리고 있습니다.
북미는 자동차, 섬유, 포장 등의 산업으로부터의 왕성한 수요에 견인되어 예측 기간 중에 가장 높은 성장률을 나타낼 것으로 예상됩니다. 부동액, 냉각수 시스템, 폴리 에스테르 제조에서 에틸렌 글리콜의 광범위한 사용을 지원합니다. 포장 및 재활용에서 PET 수지 수요가 증가함에 따라 시장 전망을 더욱 높일 수 있습니다. 오리, 새로운 기회를 가져오고 있습니다.
According to Stratistics MRC, the Global Ethylene Glycol Market is accounted for $40.87 billion in 2024 and is expected to reach $67.42 billion by 2030 growing at a CAGR of 8.7% during the forecast period. Ethylene glycol is a colourless, odourless, and sweet-tasting organic compound with the chemical formula C2H6O2. It is a viscous liquid widely used as an antifreeze agent in automotive cooling systems and as a raw material in the production of polyester fibers and resins. Ethylene glycol is also utilized in de-icing solutions for aircraft and runways. Despite its versatility, it is highly toxic if ingested, making safe handling and disposal essential to prevent harm to humans and the environment.
Growing PET usage in packaging
Growing PET usage in packaging is highly favored in the food and beverage industry due to its lightweight, durability, and recyclability. With increasing consumer demand for packaged goods, especially bottled water and soft drinks, the need for PET has surged. Ethylene glycol enables PET's excellent barrier properties, enhancing shelf life and product safety. Additionally, the global push for sustainable packaging boosts PET demand, given its recyclability. Emerging economies, with rising urbanization and disposable incomes, further amplify this trend. Thus, the expanding PET market directly fuels ethylene glycol consumption, ensuring steady growth.
Volatility in raw material prices
Volatility in raw material prices, particularly those of crude oil, directly affects the production cost of ethylene glycol. Ethylene glycol is derived from ethylene, which is a byproduct of petroleum refining. Fluctuating oil prices lead to unpredictable production costs, making it difficult for manufacturers to maintain stable pricing. This uncertainty can reduce profit margins, especially for companies with fixed contracts or long-term pricing agreements. Furthermore, sharp price increases may result in reduced demand from cost-sensitive industries. Manufacturers may struggle to pass on higher costs to customers, leading to potential market shrinkage. Ultimately, these price fluctuations can hinder its growth and profitability.
Advancements in production technologies
Advancements in production technologies enable higher yields with lower energy consumption, making production more cost-effective. Innovations in bio-based production methods, such as using renewable feedstocks, cater to growing sustainability demands. These technologies also help meet stringent environmental regulations by minimizing emissions and waste. As a result, producers can offer competitive pricing while ensuring eco-friendly practices. Moreover, advancements enhance the scalability of production, accommodating rising global demand. Overall, these technological improvements drive market growth, making ethylene glycol more accessible and sustainable.
Increasing environmental awareness
Increasing environmental awareness such as toxic nature of ethylene glycol raises concerns regarding its safety for both humans and the environment. As consumers and industries shift toward eco-friendly alternatives, demand for bio-based or less harmful substances rises. Stringent environmental regulations and sustainability targets also limit the production and use of conventional ethylene glycol. Additionally, industries are investing in greener solutions, such as plant-based or recyclable materials, which compete with ethylene glycol.
Covid-19 Impact
The COVID-19 pandemic significantly impacted the hydrogen vehicle market, causing disruptions in supply chains, production delays, and reduced consumer demand due to economic uncertainties. Lockdowns and restrictions halted infrastructure development, including hydrogen refueling stations, further slowing market growth. However, the pandemic also highlighted the importance of sustainable and clean energy solutions, spurring government initiatives and investments in hydrogen technology. As economies recover, the hydrogen vehicle market is expected to rebound, driven by increasing environmental awareness and a shift toward green mobility solutions.
The triethylene glycol (TEG) segment is expected to be the largest during the forecast period
Over the forecasted timeframe, the triethylene glycol (TEG) segment is anticipated to dominate the market share, due to its diverse applications. TEG is widely used in natural gas dehydration processes, where it efficiently removes water from natural gas to prevent corrosion and freezing. Additionally, TEG is used as a humectants in cosmetics and personal care products, enhancing skin moisture retention. The rising demand for these products boosts the TEG market. It also plays a key role in industrial applications like hydraulic fluids and paints. As industries seek more sustainable and cost-effective solutions, the TEG segment remains a crucial driver for the overall ethylene glycol market.
The pharmaceuticals segment is expected to have the highest CAGR during the forecast period
The pharmaceuticals segment is expected to register lucrative growth during the estimation period, due to its use in various applications. Ethylene glycol is a key ingredient in the production of certain medications, particularly those that require specific solvents. It is also used in the manufacturing of medical devices and formulations like intravenous fluids and syrups. Additionally, it plays a role in the preparation of vaccines and other biopharmaceutical products. The growing demand for medical treatments and health products boosts the need for ethylene glycol in this segment.
Over the forecasted timeframe, the Asia Pacific region is anticipated to dominate the market share owing to rapid industrialization, urbanization, and growing demand from various end-use industries. The automotive, textile, and packaging sectors are significant consumers of ethylene glycol, especially in countries like China, India, and Japan. The rising production of PET bottles, along with the booming automotive industry, further boosts market demand. Additionally, increasing investments in the chemical manufacturing sector and advancements in production technologies are expected to fuel the growth of the ethylene glycol market in Asia Pacific.
The North America region is expected to register the highest growth rate over the forecast period, driven by strong demand from industries such as automotive, textiles, and packaging. The region's advanced manufacturing capabilities and established infrastructure support the widespread use of ethylene glycol in antifreeze, coolant systems, and polyester production. The increasing demand for PET resins in packaging and recycling further boosts market prospects. North America's focus on sustainable practices and innovations in bio-based ethylene glycol production presents new opportunities.
Key players in the market
Some of the key players profiled in the Ethylene Glycol Market include SABIC, LyondellBasell Industries, The Dow Chemical Company, BASF SE, Shell Chemicals, Indian Oil Corporation Limited (IOCL), China Petrochemical Corporation (Sinopec Group), Reliance Industries Limited, Formosa Plastics Corporation, ExxonMobil Corporation, Huntsman Corporation, Eastman Chemical Company, MEGlobal, Indorama Ventures Public Company Limited and Mitsubishi Chemical Corporation.
In September 2024, LyondellBasell entered into an agreement with INEOS to sell its Ethylene Oxide & Derivatives (EO&D) business, including the Bayport production facility in Texas. This divestment allows LyondellBasell to focus on its core operations while enabling INEOS to expand its presence in the U.S. market.
In May 2024, The acquisition of LyondellBasell's EO&D business by INEOS was finalized on this date. This strategic move positions INEOS as a leading producer in the U.S. ethylene oxide market, complementing its existing operations and facilitating growth opportunities in the region.
In October 2023, BASF plans to construct a new world-scale alkylethanolamines plant and expand its ethylene oxide plant in Antwerp, Belgium. These expansions are aimed at bolstering BASF's position in the global chemicals market.