According to Fortune Business Insights, The global diethylene glycol market was valued at USD 5.0 billion in 2024 and is anticipated to expand from USD 5.2 billion in 2025 to USD 6.8 billion by 2032, registering a CAGR of 3.9% during the forecast period. In 2024, Asia Pacific led the market, accounting for 61.4% of the overall share. The Diethylene Glycol (DEG) market is gaining momentum across various industries due to its versatile applications in resins, polyurethanes, plasticizers, coolants, and lubricants. DEG, a clear, hygroscopic, and odorless liquid, is primarily produced as a byproduct of ethylene oxide hydrolysis. Its demand is strongly influenced by the growth of construction, automotive, and textile industries, which are major consumers of resins and polyurethanes.

The global Diethylene Glycol market is projected to witness significant growth between 2025 and 2032, driven by rising consumption in coatings, adhesives, and plastics manufacturing. Additionally, DEG is widely used as a solvent and chemical intermediate, which enhances its importance in chemical processing.

List of Key Diethylene Glycol Players Profiled

• Mitsubishi Chemical Group Corporation (Japan)
• Reliance Industries Limited (India)
• Shell (U.K.)
• SABIC (Saudi Arabia)
• NIPPON SHOKUBAI CO., LTD. (Japan)
• BASF (Germany)
• China Petrochemical Corporation (Sinopec) (China)
• PETRONAS (Malaysia)
• MEGlobal (Kuwait)
• Junsei Chemical Co., Ltd. (Japan)

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Key drivers include:

• Expanding polyurethane and polyester resin industries.
• Rising demand in construction, automotive, and packaging sectors.
• Increasing application in unsaturated polyester resins (UPR) for reinforced plastics.
• Widening use as a dehydrating agent in natural gas processing.