Diethylene Glycol Monoethyl Ether Market Worth $538.8 Million By 2025

The global diethylene glycol monoethyl ether market size is projected to reach USD 538.8 million by 2025, expanding at a CAGR of 5.3%, according to a new report by Grand View Research, Inc. Increasing penetration of the product in floor polish and paints, coatings, and inks application is expected to drive the industry over the coming years.

Rising preference of diethylene glycol monoethyl ether market for manufacturing water-based coatings is a major factor contributing to the growth of the overall market for DEGEE. Moreover, there is growing use of the product in formulation of variety of cleaning agents for industrial, household, and institutional cleaners. This factor has positively affected the product demand in cleaning agents. Asia Pacific and Eastern Europe are characterized by rapid urbanization, which is anticipated to propel the demand for residential, commercial, and industrial construction, thereby positively affecting the market for DEGEE.

The product is majorly used in skin treatment formulations in the form of topical creams or gels. Diethylene glycol monoethyl ether is considered to be a safe and tolerable pharmaceutical-grade glycol ether when used at 99.9% purity. It also acts as an intracutaneous depot for multiple drugs to reach different layers of the skin. The solvent is massively gaining demand in dermatology sector as it has the ability to penetrate through the eisoderm of the skin and aid in healing the root cause. Owing to these factors, the product is anticipated to witness high growth in pharmaceutical and personal care application in near future.

Ethylene oxide, which is precursor in manufacturing of DEGEE, is highly regulated by multiple regulatory authorities such as U.S. EPA. These regulations impact the production and industrial consumption of ethylene oxide, thus affecting the entire manufacturing cycle of ethylene oxide-based products. Currently, U.S. is one of the major producers of ethylene oxide owing to abundant availability of feedstock. However, increased restrictions on ethylene oxide plants are anticipated to hinder its production, which, in turn, is expected to have a negative impact on diethylene glycol monoethyl ether manufacturers.

Royal Dutch Shell plc; Ineos; Sinopec; and Mitsui Chemical America, Inc. are the key raw material suppliers to the diethylene glycol monoethyl ether producers. Key product manufacturers are Advance Petrochemicals Ltd., Eastman Chemical Company, Dow, Solventis, LyondellBasell Industries Holdings B.V., and Huntsman Corporation. These players work in collaboration with oil and gas companies in order to ensure uninterrupted and long term procurement of raw materials.

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Further key findings from the report suggest:

• Floor polish application was the largest consumer of the product owing to its excellent solvent properties and accounted for 35.4% of total market size, in terms of volume, in 2018

• The paints, coatings, and inks segment is expected to exhibit highest growth rate of 5.5%, in terms of revenue, over the forecast period on account of growing demand of the product in water based and solvent based paints

• High absorbency characteristic of DEGEE market is anticipated to increase its demand as a chemical intermediate in variety of chemical blending processes

• Asia Pacific dominated the industry with a volume share of 54.1% in 2018

• Europe is expected to witness a CAGR of 5.2%, in terms of revenue, from 2019 to 2025 due to the presence of major personal care product manufacturing companies, particularly in U.K., France, and Germany and high investment in production of innovative and effective personal care products.

Grand View Research has segmented the global diethylene glycol monoethyl ether market on the basis of application and region:

DEGEE Application Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• Paints, Coatings & Inks

• Chemical intermediate

• Floor Polish

• Pharmaceutical & Personal Care

• Other Applications

DEGEE Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2014 - 2025)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • U.K.

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Latin America

  • Brazil

• Middle East & Africa

  • Saudi Arabia