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

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

The Indian diethylene glycol and digol market surged to $X in 2021, increasing by 38% against the previous year. In general, consumption, however, continues to indicate a deep reduction. Diethylene glycol and digol consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

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

In value terms, diethylene glycol and digol production expanded markedly to $X in 2021 estimated in export price. Overall, production showed a noticeable decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 16% against the previous year. Diethylene glycol and digol production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

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

Exports from India

In 2021, approx. X tons of X-oxydiethanol (diethylene glycol, digol) were exported from India; which is down by -14.6% compared with the previous year. In general, exports, however, recorded a resilient expansion. The growth pace was the most rapid in 2018 when exports increased by 207%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, diethylene glycol and digol exports expanded significantly to $X in 2021. Overall, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2018 with an increase of 160%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons), South Korea (X tons) and the United Arab Emirates (X tons) were the main destinations of diethylene glycol and digol exports from India, with a combined 75% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +45.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for diethylene glycol and digol exported from India were China ($X), South Korea ($X) and the United Arab Emirates ($X), with a combined 71% share of total exports.

The United Arab Emirates, with a CAGR of +42.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average diethylene glycol and digol export price amounted to $X per ton, jumping by 31% against the previous year. Over the period under review, the export price, however, continues to indicate a mild setback. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, the highest price was recorded for prices to Egypt ($X per ton) and the United Arab Emirates ($X per ton), while the average price for exports to South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+6.2%), while the prices for the other major destinations experienced a decline.

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

Imports into India

In 2021, the amount of X-oxydiethanol (diethylene glycol, digol) imported into India soared to X tons, with an increase of 23% on the previous year's figure. In general, imports posted a significant increase. The growth pace was the most rapid in 2014 when imports increased by 645% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, diethylene glycol and digol imports surged to $X in 2021. Overall, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2014 with an increase of 298% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Kuwait (X tons) constituted the largest diethylene glycol and digol supplier to India, accounting for a 82% share of total imports. Moreover, diethylene glycol and digol imports from Kuwait exceeded the figures recorded by the second-largest supplier, the United States (X tons), tenfold. The third position in this ranking was taken by Malaysia (X tons), with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume from Kuwait totaled +40.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+51.3% per year) and Malaysia (+72.8% per year).

In value terms, Kuwait ($X) constituted the largest supplier of X-oxydiethanol (diethylene glycol, digol) to India, comprising 79% of total imports. The second position in the ranking was held by Malaysia ($X), with a 6% share of total imports. It was followed by the United States, with a 4.8% share.

From 2012 to 2021, the average annual growth rate of value from Kuwait amounted to +38.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+62.9% per year) and the United States (+12.4% per year).

Import Prices by Country

The average diethylene glycol and digol import price stood at $X per ton in 2021, picking up by 51% against the previous year. Over the period under review, the import price, however, saw a deep downturn. The pace of growth was the most pronounced in 2013 an increase of 79%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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