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

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

The Asia-Pacific diethylene glycol and digol market was estimated at $X in 2021, remaining constant against the previous year. In general, consumption recorded a slight slump. 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-Pacific

In value terms, diethylene glycol and digol production rose slightly to $X in 2021 estimated in export price. In general, production continues to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2013 with an increase of 17%. Over the period under review, production hit record highs 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-Pacific

In 2021, after two years of decline, there was significant growth in overseas shipments of X-oxydiethanol (diethylene glycol, digol), when their volume increased by 5.4% to X tons. The total export volume increased at an average annual rate of +3.1% 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 with an increase of 17%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, diethylene glycol and digol exports soared to $X in 2021. Total exports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) represented the main exporting country with an export of about X tons, which amounted to 53% of total exports. China (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by India (13%), Thailand (10%) and Singapore (5.9%). South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to diethylene glycol and digol exports from Taiwan (Chinese) stood at +2.3%. At the same time, China (+16.6%), India (+11.9%), Singapore (+10.7%) and Thailand (+3.9%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +16.6% from 2012-2021. By contrast, South Korea (-5.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, India and Singapore increased by +8.9, +6.5 and +2.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Taiwan (Chinese) ($X) remains the largest diethylene glycol and digol supplier in Asia-Pacific, comprising 50% of total exports. The second position in the ranking was taken by China ($X), with a 14% share of total exports. It was followed by India, with a 13% share.

In Taiwan (Chinese), diethylene glycol and digol exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: China (+13.3% per year) and India (+10.2% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, picking up by 60% against the previous year. Overall, the export price, however, saw a slight downturn. Over the period under review, the export prices hit record highs 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 ($X per ton) and Thailand ($X per ton), while Taiwan (Chinese) ($X per ton) and Singapore ($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-Pacific

In 2021, after four years of growth, there was significant decline in overseas purchases of X-oxydiethanol (diethylene glycol, digol), when their volume decreased by -20.7% to X tons. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 23%. Over the period under review, imports hit record highs at X tons in 2020, and then fell remarkably in the following year.

In value terms, diethylene glycol and digol imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a mild curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 38% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China prevails in imports structure, recording X tons, which was approx. 85% of total imports in 2021. South Korea (X tons), Pakistan (X tons), Indonesia (X tons) and Vietnam (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%), Pakistan (+14.2%) and Vietnam (+12.9%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +23.3% from 2012-2021. While the share of South Korea (+3.7 p.p.) and Pakistan (+1.8 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of China (-7.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported X-oxydiethanol (diethylene glycol, digol) in Asia-Pacific, comprising 84% of total imports. The second position in the ranking was held by South Korea ($X), with a 4.5% share of total imports. It was followed by Pakistan, with a 2.8% share.

In China, diethylene glycol and digol imports decreased by an average annual rate of -1.9% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+19.6% per year) and Pakistan (+9.8% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, increasing by 64% against the previous year. In general, the import price, however, saw a perceptible contraction. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Indonesia ($X per ton) and Vietnam ($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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