According to ChemAnalyst report, “India Diethylene Glycol Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030”, India Diethylene Glycol (DEG) Market is likely to grow at a CAGR of 5.40% during the forecasted period by FY2030. The end-user industries of Unsaturated Polyester Resin, Agrochemical, Rubber Compounding & Plasticizer, and Automotives are anticipated to fuel the Diethylene Glycol Market expansion in India in the forthcoming years.
Diethylene Glycol is an organic substance that is created when ethylene oxide partially hydrolyzes. It is a colourless, low volatile, low viscosity liquid that tastes sweet. It is soluble in organic solvents such as acetone, water, alcohol, and others. DEG is a popular solvent for oils, resins, paint pigments, textile dyes, and printing. Moreover, it serves as a raw material for the production of plasticizers, thermoplastic polyurethanes, and polyester resins.
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The growing usage Unsaturated polyester resin due to their excellent properties like extraordinary lightness, rigidity, and good electrical insulation which drives its applications in various downstream industries such as automotive, furniture, shoes, etc. is the major driver for the DEG market expansion in India. Due to the rising DEG use in water-based coatings as a replacement for high VOC emitting solvent-based coatings, paints and coatings application is projected to experience the highest growth. Diethylene Glycol is also used as a feedstock for producing plasticizers and polyester resins, as a lubricant in textile industry. Moreover, DEG demand is gradually increasing due to its application in rubber compounds, paints & solvent industry and for synthesizing Polyethylene Glycols, which are the major areas which will drive the demand for DEG in domestic market during the forecast period. Over the coming years, the market for bulk chemicals is expected to expand significantly as a result of rising downstream applications, such as the textile and PET resin industries.
India Diethylene Glycol Market is segmented based on end-use, sales channel, and region. Based on end-use, the India Diethylene Glycol market is bifurcated into Unsaturated Polyester Resin, Agrochemical, Rubber Compounding & Plasticizer, Automotives and Others. In the automotive sector, DEG finds application as a useful brake fluid. Because of their inexpensive price, simple manufacturing process, and high performance, unsaturated polyester resins are among the most significant and industrially versatile thermosetting materials. They are used in a variety of applications, including automobiles, marine, transportation, building, construction, and electronic devices.
Based on region, the India Diethylene Glycol Market is segregated into North, South, East, and West. Currently, West India has been dominating the market followed by North India. In FY2022, West India held a market share of approximately 32% of the market. The demand is curated due to the location of a huge number of plastic and other end-use industries like electronic goods producers located in western states like Gujarat and Maharashtra. Furthermore, the ease of availability of shipping ports creates an ease of transport of these goods.
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“India Diethylene Glycol Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Foreign Trade, FY2015-FY2030” Major players in the India Diethylene Glycol market are Indian Oil Corporation Limited and India Glycols Limited. Significant companies for Global Diethylene Glycol market are SINOPEC, Shell, Reliance Industries Ltd, SABIC, The Kuwait Olefins Co, Formosa Plastics Corp, TOC Glycol Company Limited, Huntsman Corp, Dow Chemical Co, Alberta & Orient Glycol, and Indorama Ventures (Oxide & Glycols) LLC.
“Growing demand for Diethylene Glycol to produce Unsaturated polyester resin which is used in various downstream industries like electrics & electronics, automotive, construction furniture, etc, is anticipated to swell the demand for Diethylene Glycol in India in the forecast period. DEG is an excellent feedstock chemical for the production of rubber and agrochemicals which prominently contributes to the market. Owing to fast-paced industrialization and modernization across India, the growing rate of sale of vehicles is anticipated to projects a greater demand Diethylene Glycol in the forecast period till FY2030. “Said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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