The global triethylene glycol (TEG) market size was valued at USD 642.1 million in 2017 assisted by the surging demand for natural gas in power generation, domestic and transportation applications across the globe.

Triethylene glycol is a colorless, odorless, non-volatile hygroscopic liquid with a high viscosity and high boiling point. Ethylene glycol is commercially produced by oxidizing ethylene at high temperatures in the existence of silver oxide catalyst, followed by ethylene oxide hydration to produce co-products such as mono-, di-, and tri-ethylene glycol. Triethylene glycol is used as a vinyl plasticizer in different applications, as an intermediate in polyester resins and polyols, and as a solvent. The application of triethylene glycol depends on its hygroscopic properties. Air conditioning systems use triethylene glycol as dehumidifiers and as a bacteria & virus control air disinfectant when volatilized. It is also used in air purifiers for its similar properties. When aerosolized, triethylene glycol acts as a disinfectant. It is also used as a natural gas liquid desiccant and in air conditioning systems. It acts as a stabilizer for brake fluids and hydraulic fluids and serves as a base for smoke machine fluid in the entertainment industry.

The global Triethylene Glycol (TEG) market is projected to reach US$ 27,130.3 Million by 2032, growing at a CAGR of 5.3%

Plasticizers contributed to 9.9% of the global triethylene glycol (TEG) market share, in terms of revenue, in 2017. Plasticizers are additives which are added not only to plastics, but also to cement, clay, concrete, and wallboard among others to enhance processability, and increase the flexibility and durability. These are the substances which are added in order to alter their physical properties. Plasticizers have become key materials, not just to build homes and offices, but also to manufacture an increasing number of products that provide essential benefits to everyday lives owing to low toxicity, good water solubility, improved equipment cleanup, and smooth burnout during firing operations. Numerous everyday products such as luggage, electrical cables, sports equipment, tablecloths, roofing membranes, footwear, stationery, flooring, wall covering and other automotive applications, are made with flexible PVC. In addition, some plasticizers are used in rubber products, coatings, sealants, and adhesives. The plasticizers are projected to witness a rise in demand as a result of the growth in the global plastics industry, thereby, driving the global triethylene glycol (TEG) market share.

Asia Pacific TEG market size was 215.6 kilo tons in 2017. The growth is being driven primarily by the increased government incentives for natural gas exploration projects, particularly in China and India. For instance, in September 2018, the Indian Government approved tax incentives, including lower royalties, to improve the recovery of oil & gas from aging fields and new sources such as shale, hydrates, and heavy oil. This initiative will help to raise the production of oil by 120 million tones and gas by 52 billion cubic meters over the next 20 years.

Increased use of natural gas could bring significant local and global benefits in the Asia Pacific region. China is the world’s largest source of greenhouse gas (GHG) emissions, and India is the third largest and fastest- growing source of GHG emissions. According to the International Energy Agency (IEA), Asia's emerging economies account for about half of the global demand for gas growth and their share would double to 60% by 2040. This is expected to propel the demand for natural gas dehydration, thereby, acting as a growth driver for the triethylene glycol (TEG) market share in the region over the forecast period.

The global triethylene glycol market is highly fragmented owing to the presence of numerous players. Companies including The Dow Chemical Company, Huntsman Corporation, BASF AG, Royal Dutch Shell, Eastman Chemical Company, Exxon Mobil Corporation, Saudi Basic Industries Corporation, INEOS, LyondellBasell Industries Holdings B.V., and LOTTE Chemical Corporation are some of the key players operating in the global triethylene glycol market among others. These companies are engaged in the expansion to maintain an edge over their competitors. For instance, in December 2016, Huntsman Corporation completed its 3-year expansion project at Huntsman’s Port Neches Operations facility that has led to the facility becoming the largest single-site producer of ethylene oxide in North America. The expansion increased the ethylene oxide capacity by more than 25% or 265 million pounds per year.

Triethylene Glycol (TEG) Market Scope

Key segments of the Global Triethylene Glycol (TEG) market

Application Overview

• Humectants
• Natural Gas Dehydration
• Plasticizers
• Polyester Resins
• Polyurethanes
• Solvents
• Others

Regional Overview

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • Japan
  • China
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • Saudi Arabia
  • Gulf Council Cooperation (GCC) Countries

Key Players analysed in the report include

• The Dow Chemical Company
• Huntsman Corporation
• BASF AG
• Royal Dutch Shell
• Eastman Chemical Company
• Others