Ethylene Glycol Market Size

Ethylene Glycol Market size was valued at USD 18.91 billion in 2024 and is anticipated to exceed USD 36.4 billion by the end of 2037, registering over 5.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of ethylene glycol is evaluated at USD 19.7 billion.

The primary growth factor for the market is the expansion of the automotive sector. The various kinds of benefits offered by ethylene glycol are very much beneficial for varied purposes in the automobile sector. The latest report suggests that the revenue generation by the global automotive industry to reach approximately USD 9 trillion by 2030.

Ethylene glycol is being used to manufacture polyester fibers as a raw material. This raw material works efficiently as a coolant in automobile engines. Further, being a heat transfer agent, it helps in cooling down the parts of a vehicle. Furthermore, mixing ethylene glycol with water has the added advantage of eliminating corrosion, preventing acid degradation, and the growth of certain bacteria. Thus, the rise in the number of vehicles across the world is anticipated to garner high revenues in the ethylene glycol market by 2033. Recent reports estimated that by the end of the first quarter of 2022, approximately 1.50 billion vehicles were on roads worldwide. Out of these, around 1 billion were estimated to be passenger cars. In addition to the other factors, ethylene glycol is being heavily used as feedstock in a wide range of many end-use industries. It is also being used as PET bottle resins, polyester fiber, and films. Also, it has usage in the textile sector and apparel industries as well as manufacturing, home furnishings, carpets, and rugs. Hence, the wide utilization of ethylene glycol owing to the high potential for polyester applications in the upcoming years.