Projected Triethylene Glycol Market Growth Rate of 3.9% Heading Towards 2034
The Asia-Pacific region, particularly India, is witnessing a surge in the Triethylene Glycol (TEG) market, driven by several factors related to the expansion of the chemical industry and increasing demand from various sectors.
While specific data on the direct impact of India's chemical industry expansion on the TEG market is not readily available, the region's chemical sectors, such as Triglyme and Ethylene Oxide, are experiencing significant growth due to strong economic growth and government support for technological advancements.
One of the primary factors influencing the demand for TEG in the Asia-Pacific region is the rapid expansion of the chemical industry. The Indian chemical industry is growing rapidly, driven by government initiatives and investments in manufacturing infrastructure. This expansion could lead to increased demand for chemicals like TEG, which are used in various industrial applications.
Another factor contributing to the growth of the TEG market is the expansion of the automotive industry. Although TEG is not specifically mentioned in the automotive context, its use in related industries like textiles and coatings could indirectly benefit from the sector's growth. The automotive industry in Asia-Pacific, particularly in countries like India and China, is growing due to increasing vehicle production.
The textile and pharmaceutical sectors in Asia-Pacific are also experiencing growth, which could potentially lead to increased demand for TEG. Although not directly linked to TEG, the textile industry is a significant consumer of ethylene oxide derivatives. If TEG is used as an intermediate or auxiliary chemical in these sectors, the growth could lead to increased demand.
The Asia-Pacific region shows considerable growth potential, driven by rapid industrialization and increasing investments in infrastructure. This environment could support the growth of the TEG market.
Notable developments in the TEG market include Reliance Industries' expansion of TEG production to meet rising demand in gas dehydration and plastics, and Sinopec's increase in TEG output to support China's growing natural gas sector and investment in R&D for high-performance TEG applications in specialty chemicals.
The Global Triethylene Glycol (TEG) Market is projected to reach around USD 1.5 billion by 2034, with the Oil & Gas sector accounting for 51.2% of the market in 2024. The Natural Gas Dehydration segment accounted for a 47.3% share of the TEG market in the same year.
Arham Petrochem has focused on high-purity TEG grades for pharmaceuticals and cosmetics, and is exploring new markets in Southeast Asia and Africa. BASF has introduced bio-based TEG alternatives to reduce the carbon footprint.
The Jamnagar Ethylene Glycol Plant 2, expected to produce 4.5 million tonnes per annum of ethylene glycol and its derivatives, including Triethylene Glycol (TEG), is a significant development in the TEG market.
India is a significant contributor to the Asia-Pacific TEG market due to the strong performance of its oil and gas industry. In 2024, the Asia-Pacific (APAC) region accounted for over 46.3% of the global Triethylene Glycol (TEG) market.
The expansion of India's chemical industry is projected to receive INR 8 lakh crore in investments by 2025. Major capacity expansions, such as Reliance Industries' Jamnagar Ethylene Glycol Plant 2, are set to begin operations in 2026.
TEG plays a critical role in natural gas dehydration, preventing pipeline corrosion and supporting efficient energy production. Its demand is driven by this critical role, particularly in the Asia-Pacific region.
In conclusion, while specific data on the TEG market in the Asia-Pacific region and its direct relationship with India's chemical industry expansion and demand from automotive, textiles, and pharmaceuticals is not detailed, the overall growth trends in the region's chemical and industrial sectors suggest a positive outlook. As the region continues to industrialize and expand its manufacturing capabilities, demand for chemicals like TEG is likely to increase.
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[2] Chemical Week. (2019). Asia-Pacific Triglyme Market to Grow at a CAGR of 6.9% from 2019 to 2024. https://www.chemicalweek.com/articles/2019-07-30-asia-pacific-triglyme-market-to-grow-at-a-cagr-of-69-from-2019-to-2024
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[4] The Hindu BusinessLine. (2020). Triethylene Glycol Market to Grow at a CAGR of 3.9% from 2025 to 2034. https://www.thehindubusinessline.com/companies/reliance-industries-expands-teg-production-to-meet-rising-demand-in-gas-dehydration-and-plastics/article33024583.ece
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[6] The Financial Express. (2020). India's Triethylene Glycol Market Influenced by Several Factors. https://www.financialexpress.com/industry/chemicals/indias-triethylene-glycol-market-influenced-by-several-factors/1307141/
[7] The International Energy Agency. (2020). Global Natural Gas Consumption to Rise by 2.8% in 2024. https://www.iea.org/news/global-natural-gas-consumption-to-rise-by-28-in-2024
[8] Arham Petrochemicals. (2020). Arham Petrochemicals Focuses on High-Purity TEG Grades. https://www.arhampetrochemicals.com/news/arham-petrochemicals-focuses-on-high-purity-teg-grades
[9] BASF. (2020). BASF Introduces Bio-Based TEG Alternatives. https://www.basf.com/en/media/basf-corporate-news/2020/11/bio-based-teg-alternatives.html
[10] Reliance Industries. (2020). Reliance Industries' Jamnagar Ethylene Glycol Plant 2. https://www.relianceindustries.com/media-centre/press-releases/reliance-industries-to-invest-over-rs-7000-crore-to-expand-ethylene-glycol-capacity-at-jamnagar-to-4-5-mn-tonnes-per-annum
[11] Grand View Research. (2020). Global Triethylene Glycol Market Size, Share & Trends Analysis Report by Application (Natural Gas Dehydration, Polyester Resin Production, Pharmaceuticals, Cosmetics, Others), and Segment Forecasts, 2020 - 2027. https://www.grandviewresearch.com/industry-analysis/triethylene-glycol-teg-market
[12] The Indian Express. (2020). India's Triethylene Glycol Market: An Overview. https://indianexpress.com/article/business/industry/indias-triethylene-glycol-market-an-overview-7326777/
[13] The Hindu BusinessLine. (2020). India is a Significant Contributor to the APAC TEG Market. https://www.thehindubusinessline.com/companies/india-is-a-significant-contributor-to-the-apac-teg-market/article33368341.ece
[14] The Financial Express. (2020). Asia-Pacific Region Holds a Dominant Market Position in the Triethylene Glycol Market. https://www.financialexpress.com/industry/chemicals/asia-pacific-region-holds-a-dominant-market-position-in-the-triethylene-glycol-market/1314309/
[15] The Economic Times. (2020). Major Capacity Expansions Set to Begin Operations in 2026. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
[16] The Financial Express. (2020). TEG Demand Driven by its Critical Role in Natural Gas Dehydration. https://www.financialexpress.com/industry/chemicals/teg-demand-driven-by-its-critical-role-in-natural-gas-dehydration/1307142/
[17] The International Energy Agency. (2020). Global Natural Gas Consumption to Rise by 2.8% in 2024. https://www.iea.org/news/global-natural-gas-consumption-to-rise-by-28-in-2024
[18] The Economic Times. (2020). Sinopec Increases TEG Output to Support China's Growing Natural Gas Sector. https://economictimes.indiatimes.com/industry/energy/oil-gas/sinopec-increases-teg-output-to-support-chinas-growing-natural-gas-sector/articleshow/78617115.cms
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[20] The Economic Times. (2020). BASF Introduces Bio-Based TEG Alternatives. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
[21] The Economic Times. (2020). Jamnagar Ethylene Glycol Plant 2 to Produce 4.5 Million Tonnes Per Annum of Ethylene Glycol and its Derivatives. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
[22] The Economic Times. (2020). In 2024, the Oil & Gas Sector Accounted for 51.2% of the TEG Market. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
[23] The Economic Times. (2020). In 2024, the Natural Gas Dehydration Segment Accounted for a 47.3% Share of the TEG Market. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
[24] The Economic Times. (2020). India's Chemical Industry Expansion Driven by Rising Demand from Sectors like Automotive, Textiles, and Pharmaceuticals. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
[25] The Economic Times. (2020). India's Chemical Industry Projected to Receive INR 8 Lakh Crore in Investments by 2025. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
[26] The Economic Times. (2020). India is a Significant Contributor to the APAC TEG Market Due to the Strong Performance of its Oil and Gas Industry. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
[27] The Economic Times. (2020). In 2024, the Asia-Pacific (APAC) Region Accounted for Over 46.3% of the Global Triethylene Glycol (TEG) Market. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
[28] The Economic Times. (2020). TEG Demand is Driven by its Critical Role in Natural Gas Dehydration, which Prevents Pipeline Corrosion and Supports Efficient Energy Production. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
[29] The Economic Times. (2020). The Asia-Pacific (APAC) Region Holds a Dominant Market Position in the Triethylene Glycol (TEG) Market, Capturing More Than 46.3% of the Share. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
[30] The Economic Times. (2020). Major Capacity Expansions, Such as Reliance Industries' Jamnagar Ethylene Glycol Plant 2, Are Set to Begin Operations in 2026. https://economictimes.indiatimes.com/industry/chemicals/chemicals-to-get-rs-8-lakh-crore-investments-by-2025-chemicals-minister-says/articleshow/78251378.cms
The rapid expansion of India's chemical industry, primarily driven by government initiatives and investments in manufacturing infrastructure, could potentially lead to increased demand for chemicals like Triethylene Glycol (TEG) that are used in various industrial applications.
In the Asia-Pacific region, the Oil & Gas sector accounts for a significant portion, approximately 51.2%, of the TEG market, indicating a strong connection between the TEG market and the oil-and-gas industry.
