According to Fortune Business Insights the global triethylene glycol market size was valued at USD 1.70 billion in 2024. The market is projected to grow from USD 1.76 billion in 2025 to USD 2.29 billion by 2032, exhibiting a CAGR of 3.8% during the forecast period. Triethylene glycol (TEG) is widely used in the automotive industry as a component in coolants, antifreeze, brake fluids, lubricants, and plastics. Its hygroscopic nature helps remove moisture, prevent corrosion, and maintain the efficiency of hydraulic and brake systems. Its growing demand is driven by its versatile properties and broad range of automotive applications.
The global Triethylene Glycol (TEG) market is witnessing substantial growth driven by rising demand across industries such as natural gas processing, automotive, HVAC, and pharmaceuticals. Triethylene glycol, a colorless, viscous, and hygroscopic liquid, is extensively used as a dehumidifying agent, plasticizer, and solvent.
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List of Key Players Profiled in the Triethylene Glycol Market Report:
- Arham Petrochem (India)
- BASF (Germany)
- Dow (U.S.)
- Mitsubishi Chemical Corporation (Japan)
- Nan YA Plastics (China)
- Orlen (Poland)
- PTT Global Chemical (Thailand)
- SABIC (Saudi Arabia)
- Sevron (France)
- Shell (U.K.)
Triethylene Glycol Market Segmentation Analysis:
By Application:
The natural gas dehydration segment led the triethylene glycol market in 2024. TEG is widely used to remove water vapor from natural gas, preventing corrosion, hydrate formation, and pipeline blockages. Its cost-effectiveness and efficiency make it the preferred choice for large-scale gas dehydration operations.
By End-use Industry:
The oil & gas industry is the largest end-user of TEG, primarily using it to dehydrate natural gas before processing and transportation. Its strong water-absorbing capability helps protect pipelines and equipment, making it essential in this sector.
Key Market Drivers:
- Rising Demand in Natural Gas Industry: TEG is widely used to dehydrate natural gas, and growing LNG infrastructure is driving its demand.
- Automotive & Industrial Applications: Its use in coolants, lubricants, and brake fluids helps prevent corrosion and maintain system efficiency.
- Growth in HVAC Sector: TEG serves as a heat transfer fluid in energy-efficient HVAC systems, supporting its market growth.
Competitive Landscape:
New Product Launch Allows Key Market Players to Enhance their Product Portfolio
The key market players acquire various companies operating in the industry to improve their business performance. Also, rising investments in the adoption of technological advancements and R&D activities allow the leading market players to introduce new product ranges to the global market and increase business profitability.
Key Industry Development:
- December 2023: INEOS completed the acquisition of LyondellBasell’s Ethylene Oxide and Derivatives business, including its production facility in Bayport, Texas. The deal covers three major plants: an ethylene oxide unit (420 kilotons capacity), an ethylene glycols unit (375 kilotons), and a glycol ethers unit (165 kilotons).
- December 2023: SABIC partnered with Scientific Design and Linde Engineering to explore innovative, low-emission technologies for ethylene glycol (EG) production. The collaboration aims to significantly reduce the carbon footprint of the EG manufacturing process.
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