Global Ethylene Glycol Market 2025

Ethylene Glycol Market Size

The global ethylene glycol market soared to $X in 2022, with an increase of 186% against the previous year. Overall, consumption, however, recorded a pronounced decline. Over the period under review, the global market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Ethylene Glycol Production

In value terms, ethylene glycol production fell slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2015 with an increase of 19%. Global production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ethylene Glycol Exports

Exports

In 2022, overseas shipments of ethylene glycol (ethanediol) decreased by -25.3% to X tons, falling for the second year in a row after three years of growth. In general, exports recorded a noticeable decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 41%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the global exports remained at a somewhat lower figure.

In value terms, ethylene glycol exports contracted dramatically to $X in 2022. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 37% against the previous year. Over the period under review, the global exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The United States was the key exporting country with an export of around X tons, which finished at 31% of total exports. Taiwan (Chinese) (X tons) ranks second in terms of the total exports with a 15% share, followed by Kuwait (11%), Canada (11%), Iran (8.4%) and Singapore (7.6%). Belgium (X tons) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the ethylene glycol (ethanediol) exports, with a CAGR of +17.5% from 2012 to 2022. At the same time, Iran (+3.9%) and Taiwan (Chinese) (+1.0%) displayed positive paces of growth. Kuwait experienced a relatively flat trend pattern. By contrast, Canada (-3.5%), Singapore (-4.9%) and Belgium (-8.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States, Taiwan (Chinese), Iran and Kuwait increased by +27, +5.5, +4.3 and +3.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X), Canada ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of exports in 2022, together comprising 58% of global exports.

The United States, with a CAGR of +11.6%, 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 global leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the average ethylene glycol export price amounted to $X per ton, remaining constant against the previous year. Overall, the export price recorded a noticeable curtailment. The pace of growth was the most pronounced in 2021 when the average export price increased by 44% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+0.8%), while the other global leaders experienced a decline in the export price figures.

Ethylene Glycol Imports

Imports

In 2022, the amount of ethylene glycol (ethanediol) imported worldwide contracted slightly to X tons, declining by -2.5% compared with the previous year's figure. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 20%. Global imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, ethylene glycol imports dropped to $X in 2022. In general, imports showed a noticeable decrease. The growth pace was the most rapid in 2017 with an increase of 43%. Over the period under review, global imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

China was the largest importing country with an import of about X tons, which recorded 49% of total imports. India (X tons) held a 9.1% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (6.6%). The following importers - Indonesia (X tons), Mexico (X tons), the United States (X tons), Pakistan (X tons), Germany (X tons), Spain (X tons), Vietnam (X tons), South Korea (X tons), Lithuania (X tons) and Oman (X tons) - together made up 21% of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of ethylene glycol (ethanediol). At the same time, Oman (+68.6%), Turkey (+21.6%), Vietnam (+15.0%), Mexico (+10.6%), India (+7.9%), Spain (+7.1%), Lithuania (+4.1%), Pakistan (+2.5%) and Indonesia (+2.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in the world, with a CAGR of +68.6% from 2012-2022. By contrast, Germany (-1.1%), South Korea (-5.2%) and the United States (-9.7%) illustrated a downward trend over the same period. Turkey (+5.6 p.p.), India (+4.5 p.p.), Mexico (+1.8 p.p.) and Oman (+1.7 p.p.) significantly strengthened its position in terms of the global imports, while the United States and China saw its share reduced by -4.9% and -7.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported ethylene glycol (ethanediol) worldwide, comprising 45% of global imports. The second position in the ranking was held by India ($X), with an 8.2% share of global imports. It was followed by Turkey, with a 6.7% share.

From 2012 to 2022, the average annual growth rate of value in China stood at -5.7%. In the other countries, the average annual rates were as follows: India (+1.6% per year) and Turkey (+14.8% per year).

Import Prices by Country

The average ethylene glycol import price stood at $X per ton in 2022, with a decrease of -7.4% against the previous year. In general, the import price showed a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by 39%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Germany ($X per ton) and Indonesia ($X per ton), while Mexico ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-2.0%), while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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