Diethylene Glycol Monoethyl Ether Market Size Is Projected to Reach $608.4 Million By 2028 | CAGR: 4.8%: Polaris Market Research

NEW YORK, April 19, 2021 /PRNewswire/ -- The global diethylene glycol monoethyl ether market size is expected to reach USD 608.4 million by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to Register a CAGR: 4.8% From 2021 – 2028. Growing concerns related to cleanliness and hygiene among people across the globe have caused a surge in demand for cleaning agents, which in turn driving the market growth. Increasing urbanization in several parts of the world has resulted in increased construction activities and a rise in the application of paints, thereby creating market opportunities. The rapid development of a new set of operations for the manufacturing of diethylene glycol monomethyl ether and its increasing application across industry verticals augment the market growth.

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Major Developments and Key Trends in Diethylene Glycol Monomethyl Ether Market

• Based on application, the segment of solvents accounted for the largest market share and is projected to grow at a faster rate in the forthcoming years, owing to the rise in application of ether as a major solvent in different applications across developing countries such as China and India.
• Based on the end-use, the paints & coatings segment continuously dominated the market and is predicted to continue its dominance during the forecast period. The segment's growth is primarily driven by the increasing use of diethylene glycol monomethyl ether in paint and coatings due to its ideal properties.
• The market in the Asia Pacific is growing substantially and is estimated to emerge as the most dominant regional market in the coming years. The rapidly growing paints & coating and pharmaceutical industry is the major driver that creating a positive environment for the regional market.
• Latex paints holding a dominant share in the market for diethylene glycol monomethyl ether followed by oil-based paints. Heavy spending on construction activities in major economies is anticipated to trigger the product demand in the building and construction sector.

There has been increasing demand for diethylene glycol monoethyl ether from industries such as construction, chemical, and textile, thereby driving the market growth for diethylene glycol monoethyl ether in Asia-Pacific. Increasing penetration of passenger vehicles coupled with rising application in paints and coatings fuels the market growth in this region.

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Regional Developments:

North America accounts for a significant portion of the global diethylene glycol monobutyl ether market, owing to the huge requirement for monobutyl ether to be used as a cleaning agent across industries. On the other side, the market in the Asia-Pacific region is predicted to grow at a rapid rate on account of the increasing demand for ether in the production of paints and coatings used in the construction industry. Rapid urbanization in the Asia Pacific and Eastern Europe, which is expected to boost demand for commercial, residential, and industrial construction, positively impacting the diethylene glycol monomethyl ether industry.

Competitive Outlook:

Some of the leading players present in the diethylene glycol monomethyl ether market are 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 key players are working in the several collaborations with oil and gas companies to ensure long term procurement of raw materials.

Target Audience

• Supply Side: Chemical Manufacturer
• Demand Side: Paints and Coating Industry, Pharmaceutical Industry
• Regulatory Side: Food and Drug Association (FDA)

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Polaris Market research has segmented the diethylene glycol monoethyl ether market report on the basis of application, end-use, and region:

Diethylene Glycol Monoethyl Ether Application Outlook (Revenue, USD Million, 2016 – 2028)

• Coatings
• Brake Fluids
• Paints & Inks
• Industrial Cleaners
• Solvents
• Chemical Intermediate
• Others

Diethylene Glycol Monoethyl Ether Product End-Use Outlook (Revenue, USD Million, 2016 – 2028)

• Textile
• Architecture & Construction
• Chemical
• Automotive
• Personal Care
• Pharmaceutical
• Others

Diethylene Glycol Monoethyl Ether Regional Outlook (Revenue, USD Million, 2016 – 2028)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Netherlands
• Austria
• Asia Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Indonesia
• Latin America
• Brazil
• Mexico
• Colombia
• Middle East & Africa
• Saudi Arabia
• South Africa
• Israel
• UAE

List of Key Players of Diethylene Glycol Monoethyl Ether Industry

• Solventis
• Eastman Chemical Company
• Swastik Oil
• Hannong Chemicals Inc.
• Advance Petrochemicals Ltd
• LyondellBasell Industries Holdings B.V.
• Dow Chemical Company
• Monument Chemical
• Huntsman Corporation
• Clariant AG

*Note: Additional companies can be included on request

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SOURCE Polaris Market Research