Glycol Market Size and Outlook 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 42.81 Billion
CAGR (2026-2031)	4.97%
Fastest Growing Segment	Propylene Glycol
Largest Market	Asia Pacific
Market Size (2031)	USD 57.27 Billion

Market Overview

The Global Glycol Market will grow from USD 42.81 Billion in 2025 to USD 57.27 Billion by 2031 at a 4.97% CAGR. The Global Glycol Market encompasses the trade and production of organic diols, specifically Monoethylene Glycol (MEG) and Propylene Glycol (PG), which serve as critical intermediates, solvents, and freezing point depressants. The primary economic driver sustaining this market is the extensive demand for Polyethylene Terephthalate (PET) resins in the packaging industry and polyester fibers within the textile sector. Furthermore, the automotive industry provides a structural foundation for growth through the consistent requirement for glycol-based antifreeze and coolants, which are essential for maintaining engine performance across varying climatic conditions.

However, market expansion is frequently impeded by the volatility of upstream crude oil and natural gas prices, which creates unpredictability in feedstock costs and compresses manufacturer profit margins. Highlighting the broader industrial recovery that supports demand for such basic chemicals, according to the American Chemistry Council, in 2024, global chemical production was projected to expand by 3.5%, indicating a resilient volume recovery for upstream petrochemical components despite economic headwinds.

Key Market Drivers

The expansion of polyester fiber production for the textile industry serves as the foremost catalyst propelling the Global Glycol Market. Monoethylene Glycol (MEG) serves as a vital raw material in the synthesis of polyester fibers, which are increasingly favored in apparel and home furnishings due to their durability and cost-efficiency. This consumption trend is evidenced by robust manufacturing metrics; according to the Textile Exchange, September 2024, in the 'Materials Market Report 2024', the global production volume of virgin fossil-based synthetic fibers, which are predominantly polyester, rose to 75 million tonnes in 2023. Such volume growth directly necessitates a parallel increase in glycol feedstock availability to sustain continuous manufacturing operations across the textile value chain.

Concurrently, the accelerated adoption of bio-based and renewable glycol alternatives is reshaping market dynamics by addressing stringent environmental regulations and corporate sustainability mandates. Manufacturers are increasingly investing in biorefineries to produce renewable glycols that offer identical performance to fossil-based counterparts while significantly reducing carbon footprints. A prime instance of this capacity scaling is evident in recent infrastructure projects; according to UPM Biochemicals, late 2024, the company progressed with the commissioning of its Leuna biorefinery, which boasts a targeted annual capacity of 220,000 tonnes of renewable biochemicals, including bio-monoethylene glycol (BioMEG). This structural shift is supported by a broader industrial recovery, as noted by the European Chemical Industry Council, July 2024, which reported that global chemical production output grew by more than 4% during the first four months of 2024, fostering a favorable environment for both traditional and renewable glycol adoption.

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Key Market Challenges

The volatility of crude oil and natural gas prices creates a substantial barrier to stability within the glycol market. Since monoethylene glycol and propylene glycol are downstream derivatives of these fossil fuels, their production costs are intrinsically linked to upstream energy markets. When raw material prices fluctuate rapidly, manufacturers struggle to maintain consistent pricing strategies, which complicates long-term planning for buyers in the textile and packaging sectors. This uncertainty often forces producers to operate with reduced margins to remain competitive, thereby limiting capital available for facility expansion or operational improvements.

The direct impact of these cost pressures is a tangible reduction in manufacturing output, particularly in regions dependent on imported feedstocks. High input costs effectively dampen production volumes even when demand exists. According to the European Chemical Industry Council (Cefic), in 2024, chemical output in the European Union remained approximately 10.6 percent below 2019 levels, a stagnation attributed largely to uncompetitive energy and feedstock costs. This persistent financial strain prevents the market from reaching its full volume potential and hampers the global supply chain's ability to function efficiently.

Key Market Trends

The development of specialized heat transfer fluids for electric vehicles (EVs) requires manufacturers to formulate advanced solutions with low electrical conductivity. Unlike internal combustion engines, EV batteries necessitate these dielectric glycol fluids to prevent short circuits while maintaining thermal stability during rapid charging and discharging cycles. This technical divergence is creating a distinct high-value segment, as standard antifreeze formulations are often incompatible with the sensitive electronic components found in modern electric powertrains. This shift is accelerating as the automotive sector electrifies; according to the International Energy Agency, April 2024, in the 'Global EV Outlook 2024', global electric car sales were projected to reach 17 million units in 2024, a volume expansion that directly amplifies the market requirement for battery-specific thermal management solutions.

Concurrently, the integration of glycol recovery into circular economy models is establishing a secondary supply chain through chemical recycling. This trend utilizes depolymerization technologies to break down polyethylene terephthalate (PET) waste into constituent monomers, including monoethylene glycol (MEG), thereby reducing reliance on virgin fossil feedstocks. These closed-loop systems are now transitioning from concept to industrial reality, allowing producers to decouple partial feedstock requirements from volatile energy markets. Highlighting this infrastructure scaling, according to Carbios, April 2024, in a corporate press release, the company broke ground on the world’s first industrial-scale enzymatic biorecycling plant, which targets an annual processing capacity of 50,000 tonnes of waste.

Segmental Insights

Propylene Glycol captures the fastest-growing position in the Global Glycol Market driven by its extensive utilization in industries prioritizing safety and low toxicity. The segment benefits significantly from classifications by regulatory bodies such as the U.S. Food and Drug Administration, which recognizes the chemical as generally safe for consumption. This regulatory approval accelerates demand within the food, beverage, and pharmaceutical sectors where it serves as a critical solvent and humectant. Furthermore, increasing consumer preference for non-toxic ingredients in personal care products continues to reinforce the rapid expansion of Propylene Glycol over hazardous alternatives.

Regional Insights

Asia Pacific holds the leading position in the global glycol market due to extensive manufacturing activities in China and India. This regional dominance is primarily driven by the robust textile industry, where ethylene glycol serves as a critical raw material for polyester fiber production. Additionally, the expanding automotive sector increases the consumption of glycol-based antifreeze and coolants. Rising demand for polyethylene terephthalate resin in the packaging industry further supports this trend. Consequently, the region sustains high consumption levels because of widespread industrial applications and continuous infrastructure development.

Recent Developments

In November 2024, Clariant expanded its storage capacity for recycled mono propylene glycol at its facility in Uddevalla, Sweden. The company installed new storage tanks and a truck unloading station to optimize the handling of recycled glycols used specifically for aircraft deicing fluids. This infrastructure investment supported the recovery and reuse of glycols collected from airport runoff, which were then processed and reintroduced into the supply chain. By increasing the utilization of recycled materials, the initiative aimed to significantly reduce the product carbon footprint compared to virgin fossil-based equivalents, aligning with the aviation industry's sustainability goals.
In June 2024, Technip Energies and Shell Catalysts & Technologies formed a strategic alliance to commercialize the Bio-2-Glycols technology. This breakthrough collaboration focused on a new process that converts glucose into bio-based mono ethylene glycol (MEG), offering a sustainable alternative to traditional fossil-based production methods. The technology allowed for the production of reduced-carbon footprint polyesters, which are essential for packaging and textile applications. By combining their respective expertise in catalyst development and engineering, the companies aimed to accelerate the availability of bio-sourced monomers to meet the global chemical industry's increasing requirement for eco-friendly raw materials.
In March 2024, Dow announced the launch of two new sustainable propylene glycol solutions in North America, featuring bio-circular and circular feedstocks. These high-performance products were designed to enable customers in industries such as cosmetics, personal care, food, and pharmaceuticals to offer solutions with externally verified sustainability benefits. The company utilized a mass balance approach, which traced the flow of bio-circular and circular materials through complex value chains, a method that received ISCC PLUS certification at its manufacturing facility in Freeport, Texas. This development aimed to address the growing demand for circular materials in polyurethane end-markets while maintaining product quality.
In March 2024, BASF commenced the construction of a new methyl glycols plant at its Verbund site in Zhanjiang, China. The facility was designed with an annual capacity of 46,000 metric tons and was scheduled to begin operations by late 2025. This project aimed to produce methyl diglycol, methyl triglycol, and methyl tetraglycol to meet the rapidly rising demand for modern brake fluids in the region's automotive industry. As the only fully backward-integrated methyl glycols plant utilizing a steam cracker in China, the facility was expected to supply reliable, high-quality products to downstream customers in the Asia Pacific market.

Key Market Players

The Dow Chemical Company
LyondellBasell Industries Holdings B.V.
BASF SE
Archer-Daniels-Midland Co
Global Bio-chem Technology Group Company Limited
Tate & Lyle plc
SKC
KLK OLEO
INEOS Capital Limited
Huntsman International LLC

By Product	By Application	By Region
Ethylene Glycol Propylene Glycol Others	Automotive HVAC Textiles Airlines Medical Pipeline Maintenance Polyester Fibers and Resins Food and Beverage Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Glycol Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Glycol Market, By Product:

Ethylene Glycol
Propylene Glycol
Others

Glycol Market, By Application:

Automotive
HVAC
Textiles
Airlines
Medical
Pipeline Maintenance
Polyester Fibers and Resins
Food and Beverage
Others

Glycol Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Glycol Market.

Available Customizations:

Global Glycol Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Glycol Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Glycol Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Product (Ethylene Glycol, Propylene Glycol, Others)

5.2.2. By Application (Automotive, HVAC, Textiles, Airlines, Medical, Pipeline Maintenance, Polyester Fibers and Resins, Food and Beverage, Others)

5.2.3. By Region

5.2.4. By Company (2025)

5.3. Market Map

6. North America Glycol Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Product

6.2.2. By Application

6.2.3. By Country

6.3. North America: Country Analysis

6.3.1. United States Glycol Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Product

6.3.1.2.2. By Application

6.3.2. Canada Glycol Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Product

6.3.2.2.2. By Application

6.3.3. Mexico Glycol Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Product

6.3.3.2.2. By Application

7. Europe Glycol Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Product

7.2.2. By Application

7.2.3. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Glycol Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Product

7.3.1.2.2. By Application

7.3.2. France Glycol Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Product

7.3.2.2.2. By Application

7.3.3. United Kingdom Glycol Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Product

7.3.3.2.2. By Application

7.3.4. Italy Glycol Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Product

7.3.4.2.2. By Application

7.3.5. Spain Glycol Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Product

7.3.5.2.2. By Application

8. Asia Pacific Glycol Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Product

8.2.2. By Application

8.2.3. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Glycol Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Product

8.3.1.2.2. By Application

8.3.2. India Glycol Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Product

8.3.2.2.2. By Application

8.3.3. Japan Glycol Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Product

8.3.3.2.2. By Application

8.3.4. South Korea Glycol Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Product

8.3.4.2.2. By Application

8.3.5. Australia Glycol Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Product

8.3.5.2.2. By Application

9. Middle East & Africa Glycol Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Product

9.2.2. By Application

9.2.3. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Glycol Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Product

9.3.1.2.2. By Application

9.3.2. UAE Glycol Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Product

9.3.2.2.2. By Application

9.3.3. South Africa Glycol Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Product

9.3.3.2.2. By Application

10. South America Glycol Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Product

10.2.2. By Application

10.2.3. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Glycol Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Product

10.3.1.2.2. By Application

10.3.2. Colombia Glycol Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Product

10.3.2.2.2. By Application

10.3.3. Argentina Glycol Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Product

10.3.3.2.2. By Application

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Glycol Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. The Dow Chemical Company

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. LyondellBasell Industries Holdings B.V.

15.3. BASF SE

15.4. Archer-Daniels-Midland Co

15.5. Global Bio-chem Technology Group Company Limited

15.6. Tate & Lyle plc

15.7. SKC

15.8. KLK OLEO

15.9. INEOS Capital Limited

15.10. Huntsman International LLC

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

What was the market size of the Global Glycol Market in 2025?

Which is the dominating region in the Global Glycol Market?

Which is the fastest growing segment in the Global Glycol Market?

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