Diethylene Glycol Monoethyl Ether Market Share, Size, Trends, Industry Analysis Report, Application (Coatings, Brake Fluids, Paints & Inks, Industrial Cleaners, Solvents); By End-Use (Textile, Architecture & Construction, Chemical, Automotive, Personal Care, Pharmaceutical); By Region; Segment Forecast, 2021 - 2028
- Published Date:Mar-2021
- Pages: 103
- Format: PDF
- Report ID: PM1826
- Base Year: 2020
- Historical Data: 2016 - 2019
Report Outlook
The global diethylene glycol monoethyl ether market size was valued at USD 405.0 million in 2020 and is expected to grow at a CAGR of 5.4% during the forecast period. Diethylene glycol monoethyl ether is increasingly being used in the automotive sector for the manufacturing of brake fluid, and automotive components.
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Diethylene glycol monoethyl ether is also widely used as a solvent in a wide range of cleaning fluids, paints, coatings, and inks. The application of diethylene glycol monoethyl ethers has increased as a flow and gloss promoter in paint industries. It offers greater versatility, cost efficiency, and biodegradability, further boosting the market growth.
Diethylene glycol monoethyl ether is widely used in personal care and pharmaceutical products. It finds application as a solvent in several topical, oral, and transdermal pharmaceutical products for both humans and animals. Increasing awareness regarding the use of environment-friendly products coupled with significant investments towards the development of safe and efficient personal care and pharmaceutical products has increased the demand for diethylene glycol monoethyl ether across the globe.
The demand for diethylene glycol monoethyl ether is expected to increase as a solubilizer, penetration enhancer, and surfactant for drug delivery systems. Increasing population, growing demand for environment-friendly products, rise in demand from automotive sectors, and growing electrification of vehicles have resulted in the increased sale of diethylene glycol monoethyl ether.
Industry Dynamics
Growth Drivers
Modernization of vehicles to improve performance, growth in the textile industry, rising application in the manufacturing of industrial chemicals has further fueled the market growth of the diethylene glycol monoethyl ether industry across the globe. The introduction of technologically advanced solutions along with government regulations support the market growth of diethylene glycol monoethyl ether.
Diethylene glycol monoethyl ether is used as a de-icing additive in aviation fuel, driving its growth in the aerospace sector. The demand from the textile industry has increased owing to increasing use as coupling agents and solvents for printing and dyeing fabrics.
Some other applications of diethylene glycol monoethyl ether include use as deactivators and stabilizers for pesticides, liquid detergent, and cleaning formulation, and drilling and cutting coolants. Rising industrialization, growing urbanization, and increasing demand from the construction sector drive the growth of the diethylene glycol monoethyl ether market.
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Diethylene Glycol Monoethyl Ether Market Report Scope
The market is primarily segmented on the basis of application, end-use, and region.
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Application Outlook
The application segment has been divided into coatings, brake fluids, paints and inks, industrial cleaners, solvents, chemical intermediate, and others. The solvents segment accounted for a major share of the global diethylene glycol monoethyl ether market in 2020. Diethylene glycol monoethyl ether is widely used as a solvent for a wide range of products such as paints, dyes, inks, polishes, and lacquers.
Diethylene glycol monoethyl ether is also used as a solvent in cosmetics and a wide range of personal care products. Increasing disposable income, rising urbanization, and growing demand from the textile industry for fiber and fabrics are expected to drive market growth.
End-Use Outlook
On the basis of end-user, the market is segmented into textile, architecture and construction, chemical, automotive, personal care and pharmaceutical, and others. The automotive segment acquired a significant market share of the global diethylene glycol monoethyl ether industry in 2020.
The automotive industry makes use of diethylene glycol monoethyl ether for the manufacturing of different components, brake fluids, and coatings. The growing penetration of passenger vehicles, rising adoption of electric vehicles, and modernization of vehicles is expected to further boost the market growth.
Regional Outlook
Asia Pacific dominated the global diethylene glycol monomethyl ether market in 2019. Rising industrialization, growing consumer spending, increasing presence of international players, and technological advancements are some factors attributed to the market growth of this region.
Increasing investments in the architecture and construction sectors, rising automotive penetration, increasing modernization of vehicles, and the introduction of stringent regulations regarding the use of hazardous chemicals support the market growth in the region. Increasing application in textile, chemical, and personal care sectors further drive the market growth in this region.
Competitive Landscape
The leading market players in the diethylene glycol monoethyl ether industry include Solventis, Eastman Chemical Company, Swastik Oil, Hannong Chemicals Inc., Advance Petrochemicals Ltd, LyondellBasell Industries Holdings B.V., Dow Chemical Company, Monument Chemical, Huntsman Corporation, and Clariant AG. These players are expanding their presence across various geographies and entering new markets in developing regions to expand their customer base and strengthen presence in the market.
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