Asia: Market for 2,2-Oxydiethanol (Diethylene Glycol, Digol) 2024

Market Size for 2,2-Oxydiethanol (Diethylene Glycol, Digol) in Asia

The Asian diethylene glycol and digol market was estimated at $X in 2021, with an increase of 5.2% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +3.5% against 2018 indices. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of X-Oxydiethanol (Diethylene Glycol, Digol) in Asia

In value terms, diethylene glycol and digol production expanded modestly to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 14%. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Exports in Asia

After three years of decline, overseas shipments of X-oxydiethanol (diethylene glycol, digol) increased by 4.7% to X tons in 2021. Overall, exports, however, recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when exports increased by 126%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, diethylene glycol and digol exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt contraction. The pace of growth was the most pronounced in 2017 when exports increased by 158%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2021, Taiwan (Chinese) (X tons), distantly followed by Kuwait (X tons), Iran (X tons), China (X tons), India (X tons) and Thailand (X tons) were the major exporters of X-oxydiethanol (diethylene glycol, digol), together comprising 87% of total exports. The following exporters - Singapore (X tons) and Saudi Arabia (X tons) - together made up 6.2% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +16.6%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Kuwait ($X) and Iran ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 63% of total exports. China, India, Thailand, Singapore and Saudi Arabia lagged somewhat behind, together accounting for a further 29%.

China, with a CAGR of +13.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, jumping by 54% against the previous year. Overall, the export price, however, recorded a slight downturn. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in China ($X per ton) and Kuwait ($X per ton), while Saudi Arabia ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-1.5%), while the other leaders experienced a decline in the export price figures.

Imports of 2,2-Oxydiethanol (Diethylene Glycol, Digol)

Imports in Asia

In 2021, after four years of growth, there was significant decline in supplies from abroad of X-oxydiethanol (diethylene glycol, digol), when their volume decreased by -16.9% to X tons. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 18%. The volume of import peaked at X tons in 2020, and then dropped remarkably in the following year.

In value terms, diethylene glycol and digol imports soared to $X in 2021. In general, imports recorded a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China dominates imports structure, amounting to X tons, which was approx. 76% of total imports in 2021. It was distantly followed by Turkey (X tons), generating a 9.6% share of total imports. South Korea (X tons), Pakistan (X tons) and Indonesia (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of imports of X-oxydiethanol (diethylene glycol, digol). At the same time, South Korea (+23.3%), Indonesia (+19.4%), Turkey (+18.1%) and Pakistan (+14.2%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of +23.3% from 2012-2021. While the share of Turkey (+7 p.p.), South Korea (+3.3 p.p.) and Pakistan (+1.6 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of China (-13.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported X-oxydiethanol (diethylene glycol, digol) in Asia, comprising 74% of total imports. The second position in the ranking was held by Turkey ($X), with an 11% share of total imports. It was followed by South Korea, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value in China stood at -1.9%. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (+15.7% per year) and South Korea (+19.6% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, increasing by 65% against the previous year. Overall, the import price, however, saw a mild contraction. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Turkey ($X per ton) and Indonesia ($X per ton), while China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (-1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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