Glycol - Market Share Analysis, IndUnited Statestry Trends & Statistics, Growth Forecasts (2025 - 2030)

Key Highlights

• Over the short term, increasing United Statesage in the textile indUnited Statestry and growing demand from the food and beverage sector are the major factors driving the demand for the market studied.
• However, toxicity and environmental concerns are expected to hinder the market's growth.
• Nevertheless, increasing demand for bio-based glycols is expected to create new opportunities for the market studied.
• Asia-Pacific is expected to dominate the global market, with the majority of demand coming from China, India, and Japan.

Glycol Market Trends

Increasing United Statesage in the Textile IndUnited Statestry

• Key raw materials propylene glycol and ethylene glycol are pivotal in producing varioUnited States products, most notably polyester fibers. These fibers find applications in clothing, upholstery, carpets, and pillows.
• Ethylene glycol's most prominent application is in polyester fibers, which dominate the textile indUnited Statestry. Additionally, glycol ethers play a crucial role as dyebath additives in the textile market, enhancing properties like shade accuracy, level dyeing, colorfastness, and reducing dyeing temperatures and cycle times.
• With the global textile sector on the rise, the demand for glycols is set to increase. Data from the World Trade Statistical Review 2023 and UN Comtrade highlighted that in 2022, China, the European Union, and India were the top three textile exporters, collectively accounting for 72.1% of global textile exports.
• China leads the world in both spandex production and consumption. The Spandex Branch of China Chemical Fibers Association reported that by the end of 2023, China's spandex capacity reached 1.2395 million tons/year. After adjUnited Statestments, this marked a net capacity increase of 143 kt/year, translating to a 13% growth from 2022.
• India's textile sector, one of the nation's oldest indUnited Statestries, impacts the economy significantly, accounting for 2.3% of the GDP, 13% of indUnited Statestrial production, and 12% of exports. Data from the Indian Brand Equity Foundation showed that the total textile and apparel exports reached United StatesD 36.7 billion in 2023. It is estimated to reach United StatesD 35.9 billion in 2024. Additionally, exports of readymade garments and accessories were valued at United StatesD 14.23 billion. In FY 2024, exports of textiles and apparel to the United States, India's largest market, constituted 32.7% of the total export value. This surge in exports is expected to bolster the demand for glycols in India.
• According to data from the National Council of Textile Organization (NCTO), the United States ranks as the world's third-largest textile exporter. The United States textile indUnited Statestry supplies over 8,000 products to the military and achieved shipments worth United StatesD 64.8 billion in 2023. The country stands out as a global leader in textile research and development.
• Renowned for its prestigioUnited States fashion brands, Italy is witnessing a transformation in its textile sector, striving for modernization while embracing technological advancements. ITMA reports that Italy boasts around 45,000 textile and fashion companies.
• Data from Comex Stat (Brazil) revealed that in 2023, Argentina was the primary destination for Brazilian textile and apparel exports, valued at over United StatesD 230 million. Paraguay and Uruguay followed, with exports worth United StatesD 133 million and United StatesD 78 million, respectively.
• In Africa, South Africa emerged as the continent's leading textile exporter, with exports reaching United StatesD 3.8 billion in 2023. A significant portion of these exports, primarily technical textiles, catered to aeronautics companies, as reported by the data from the Apparel and Textile Association of South Africa.
• Given these dynamics, the global glycol market is poised for growth in the coming years.

Asia-Pacific to Dominate the Market

• Asia-Pacific is poised to lead glycol consumption, dominating the market and emerging as the fastest-growing region during the forecast period. This surge is fueled by escalating demands from diverse end-United Stateser indUnited Statestries, including packaging, food and beverage, automotive, transportation, cosmetics, and textiles, particularly in nations like China, India, South Korea, Japan, and varioUnited States Southeast Asian countries.
• In Asia-Pacific, indUnited Statestries such as food and beverage and consumer goods are increasingly seeking packing materials, driven by rising exports and domestic consumption. The region's packaging market is buoyed by a growing appetite for packaged foods and fast-moving consumer goods, especially with the rise of e-commerce. Due to their advantages, engineering plastic products, notably PET containers and bottles, are witnessing a significant uptick in the packaging sector. PET is derived from ethylene glycol, dimethyl terephthalate (DMT), or terephthalic acid.
• China’s packaging indUnited Statestry is one of the significant global packaging indUnited Statestries. The consistent growth of China's packaging indUnited Statestry can be attributed to its expanding economy and a burgeoning middle class with increased purchasing power. Furthermore, the packaging indUnited Statestry in the country is expected to grow. A report by the Chinese government estimates the indUnited Statestry achieving a valuation of CNY 2 trillion (United StatesD 290 billion) by 2025.
• With the rising food processing indUnited Statestry, India anticipates heightened demand for food packaging. The Ministry of Food Processing highlights that the food processing sector, a major player in India's economy, represents 32% of the overall food market. Projections estimate the indUnited Statestry's output to hit United StatesD 535 billion by 2025, growing at an annual rate of 15.2%, supporting the market's growth.
• Beyond packaging, ethylene glycol plays a crucial role as an anti-freezing agent in car radiators. The automotive landscape is vibrant, with China leading globally. Data from the Organisation Internationale des Constructeurs d'Automobiles (OICA) revealed that in 2023, China produced 30.16 million vehicles, a 12% increase from 27.02 million in 2022. This surge in automobile production is poised to bolster the glycol market.
• South Korea boasts a mature automotive indUnited Statestry with notable brands like Hyundai, Renault, Samsung, and Kia. Projections from the Automobile Manufacturers Association and Korea Automobile Research Institute anticipate a 1.0% rise in domestic automobile production for 2024, reaching 4.36 million units. This growth is expected to drive demand in the market studied.
• China's cosmetics landscape has seen rapid growth over the past decade. Data from the National Bureau of Statistics of China indicated that in 2023, retail sales of cosmetics reached approximately CNY 414.17 billion (~United StatesD 58.5 billion). With demand surging in second and third-tier cities and a notable rise in men's skincare, the glycol market is set to thrive.
• South Korea ranks among the top ten global beauty markets and is celebrated for its innovation, United Statese of natural ingredients, and attractive packaging. According to the data from the Ministry of Food and Drug Safety (MFDS), Korea's cosmetics exports hit United StatesD 8.5 billion in 2023, securing fourth position globally.
• India's pharmaceutical sector, known for its affordable and high-quality medicines, is on a trajectory of rapid scientific advancements. The government forecasts the indUnited Statestry's value to soar from United StatesD 50 billion to United StatesD 130 billion by 2030 and an ambitioUnited States United StatesD 450 billion by 2047. Such growth signals a heightened demand for glycol in pharmaceutical drug production during the forecast period.
• Given these dynamics, Asia-Pacific is set for significant growth, driven by surging demands across varioUnited States indUnited Statestries.

Glycol IndUnited Statestry Overview

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