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

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

The East Asian diethylene glycol and digol market contracted modestly to $X in 2021, waning by -4.9% against the previous year. Overall, consumption recorded a mild shrinkage. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

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

In value terms, diethylene glycol and digol production reached $X in 2021 estimated in export price. Overall, production, however, showed a pronounced slump. The pace of growth was the most pronounced in 2013 with an increase of 19%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

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

Exports in Eastern Asia

In 2021, shipments abroad of X-oxydiethanol (diethylene glycol, digol) was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. The total export volume increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 25%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, diethylene glycol and digol exports soared to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) was the major exporter of X-oxydiethanol (diethylene glycol, digol) in Eastern Asia, with the volume of exports reaching X tons, which was approx. 75% of total exports in 2021. China (X tons) held a 19% share (based on physical terms) of total exports, which put it in second place, followed by South Korea (5.5%).

Exports from Taiwan (Chinese) increased at an average annual rate of +2.3% from 2012 to 2021. At the same time, China (+16.6%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +16.6% from 2012-2021. By contrast, South Korea (-5.6%) illustrated a downward trend over the same period. China (+13 p.p.) and Taiwan (Chinese) (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while South Korea saw its share reduced by -5.5% from 2012 to 2021, respectively.

In value terms, Taiwan (Chinese) ($X) remains the largest diethylene glycol and digol supplier in Eastern Asia, comprising 73% of total exports. The second position in the ranking was held by China ($X), with a 21% share of total exports.

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 South Korea (-7.1% per year).

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, with an increase of 67% against the previous year. In general, the export price, however, continues to indicate a mild contraction. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was China ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

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

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

Imports in Eastern Asia

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 -24.3% to X tons. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 22% against the previous year. The volume of import peaked at X tons in 2020, and then dropped sharply in the following year.

In value terms, diethylene glycol and digol imports soared to $X in 2021. In general, imports saw a mild contraction. The most prominent rate of growth was recorded in 2017 with an increase of 37%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

China dominates imports structure, reaching X tons, which was approx. 95% of total imports in 2021. It was distantly followed by South Korea (X tons), constituting a 5% share of total imports.

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%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +23.3% from 2012-2021. While the share of South Korea (+4.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of China (-2.6 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported X-oxydiethanol (diethylene glycol, digol) in Eastern Asia, comprising 94% of total imports. The second position in the ranking was held by South Korea ($X), with a 5% share of total imports.

From 2012 to 2021, the average annual growth rate of value in China amounted to -1.9%.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, picking up by 66% against the previous year. Overall, the import price, however, showed a mild curtailment. 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, the country with the highest price was South Korea ($X per ton), while China totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-1.9%).

Source: IndexBox Platform

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