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China, the United States, and Germany are the leading exporters of diethylene glycol, collectively accounting for over 50% of global exports in recent years; major importers include India, South Korea, and Mexico, with India consistently ranking as the top destination. Imports by India and South Korea have grown steadily since 2022, while Diethylene glycol prices have remained relatively stable amid moderate demand expansion in polyester resin and plasticizer production.
I. Recent Market Dynamics
1. Price Trends
- The domestic market price of diethylene glycol (DEG) has recently exhibited a narrow fluctuation. In the East China region, mainstream market prices are oscillating within the range of [X1] to [X2] CNY/ton. In the South China region, prices are hovering between [X3] and [X4] CNY/ton. In the North China region, prices are fluctuating around [X5] to [X6] CNY/ton.
- Internationally, Asian DEG prices have remained largely stable due to supply-demand dynamics and exchange rate influences. The FOB Korea price is in the range of [X7] to [X8] USD/ton, while the CFR China price is between [X9] and [X10] USD/ton.
2. Supply Situation
- The operating rate of domestic DEG producers remains relatively stable, with an overall operating rate maintained at approximately [X11]%. Some enterprises are undergoing scheduled routine maintenance, but the release of new production capacity is limited, resulting in minimal changes on the supply side.
- Regarding imports, the volume of recent arriving shipments is normal. Port inventory is maintained at approximately [X12] million tons, which is at a relatively reasonable level and does not exert significant pressure on market supply.
3. Demand Situation
- The operating rate of the downstream unsaturated polyester resin (UPR) industry is around [X13]%, with steady demand for DEG. With the arrival of the traditional peak season, some enterprises have inventory replenishment needs, but the overall procurement pace remains cautious.
- The antifreeze industry has entered its off-season, leading to a decrease in DEG demand. However, demand from other sectors such as coatings and plasticizers remains stable, providing some support to the market.
4. Cost Factors
- The price of the raw material ethylene oxide (EO) has remained stable recently, providing limited support to DEG prices. EO market supply is sufficient, with prices maintained at approximately [X14] CNY/ton and minimal fluctuation.
5. Market Sentiment
- Traders are adopting a cautious stance, primarily focusing on quick turnover to avoid inventory accumulation. Downstream enterprises are purchasing on an as-needed basis and are in a wait-and-see mode regarding the future market, resulting in a generally average trading atmosphere.
II. Analysis and Judgment
1. Supply Side: With stable operating rates of domestic producers, normal import arrivals, and reasonable port inventory, the supply side shows little overall change, exerting a relatively neutral impact on prices.
2. Demand Side: Downstream industry demand is mixed. The peak-season inventory replenishment demand from the UPR industry provides some support to the market, but this is partially offset by the reduced demand from the antifreeze industry. Overall demand remains stable and is insufficient to provide strong support for price increases.
3. Cost Side: With stable prices for the raw material EO, the cost support effect is not significant, resulting in a minimal impact on DEG prices.
4. Market Sentiment: The cautious stance of traders and downstream enterprises, coupled with an inactive trading atmosphere, limits the range of price fluctuations.
III. Forecast
1. Short-term (1-2 weeks): DEG market prices are expected to continue their narrow fluctuation. The price ranges are projected to be [X1] to [X2] CNY/ton in East China, [X3] to [X4] CNY/ton in South China, and [X5] to [X6] CNY/ton in North China.
2. Medium-term (1-2 months): As the peak season for the UPR industry deepens, demand is expected to release further. If there are no major changes on the supply side, prices may see a slight increase, albeit with limited upside. Prices in East China are expected to rise to around [X15] CNY/ton, South China to around [X16] CNY/ton, and North China to around [X17] CNY/ton.
3. Long-term (3-6 months): Attention must be paid to the release of new production capacity and changes in downstream demand. If new capacity is concentratedly released, increasing supply while demand fails to grow in sync, prices may face downward pressure. Conversely, if demand continues to improve, prices are expected to remain stable or continue to rise slightly.
Diethylene glycol is a colorless, odorless, viscous liquid with low volatility and a boiling point of approximately 245 °C. It is a bifunctional aliphatic alcohol (a diol) and belongs to the class of glycol ethers, commonly used as a chemical intermediate and solvent. Its primary industrial applications include serving as a precursor in the synthesis of plasticizers (e.g., for cellulose esters), unsaturated polyester resins, and morpholine derivatives. It is widely employed in coatings, inks, adhesives, and as a humectant and solvent in hydraulic brake fluids and natural gas dehydration systems.
Humectant for tobacco, casein, synthetic sponges, paper products, in cork compositions, book-binding adhesives.
This chemical is included in Basic Chemicals. See more about what is Diethylene glycol and Diethylene glycol SDS information.
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