South Korea Diethylene Glycol (DEG) Market was valued at USD 300 Million in 2022 and is projected to reach USD 500 Million by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The South Korea Diethylene Glycol (DEG) market is witnessing significant growth, driven by the increasing demand from multiple industries. DEG is a versatile chemical compound widely used in the production of plastics, solvents, antifreeze, and resins, making it a crucial component in several sectors. South Korea, known for its thriving industrial base, has emerged as one of the leading players in the DEG market, catering to both domestic and international needs.
One of the primary drivers of the Diethylene Glycol (DEG) market in South Korea is the booming automotive and electronics industries. DEG is utilized in the production of antifreeze solutions, which are vital for the automotive industry, particularly in vehicles designed for harsh weather conditions. Additionally, the electronics industry relies on DEG as a solvent in the production of various components, including semiconductors and printed circuit boards (PCBs).
The chemical manufacturing industry is another key contributor to the demand for DEG. DEG plays a pivotal role in producing resins and plastics used in packaging, construction materials, and consumer goods. As South Korea's manufacturing sector continues to expand, the requirement for DEG remains robust, further propelling its market growth.
Industries involved in the production of personal care products, pharmaceuticals, and textiles also contribute significantly to the DEG market. In personal care, DEG is used as a solvent and humectant in products like shampoos, lotions, and cosmetics. The pharmaceutical industry uses DEG as a stabilizer in various drugs, while the textile industry utilizes it in the production of fibers and dyes.
The rise in environmental awareness is also influencing the DEG market, as industries shift towards sustainable alternatives. South Korea's government has implemented strict regulations to ensure the safe use and disposal of DEG, which has led to innovations in its production and recycling processes. Despite this, the demand for DEG remains strong due to its indispensable role in numerous industrial applications.
In conclusion, the South Korea Diethylene Glycol (DEG) market continues to thrive, supported by the growing demands of various industries. As the country focuses on technological advancements and sustainability, the market is expected to witness further expansion in the coming years.
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Paints&Coatings
Adhesives
Plastics
Personal Care
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Diethylene Glycol (DEG) Market
Polyester Production
Antifreeze and Coolants
Solvents
Plasticizers
Pharmaceuticals
Cosmetics and Personal Care Products
Automotive
Chemical Manufacturing
Textiles
Construction
Food and Beverage
Pharmaceutical
Petrochemical Sources
Bio-based Sources
Industrial Grade
Food Grade
Pharmaceutical Grade
Direct Sales
Distributors
Online Sales
Retail Outlets
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Diethylene Glycol (DEG) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Diethylene Glycol (DEG) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Diethylene Glycol (DEG) Market, By Type
6. South Korea Diethylene Glycol (DEG) Market, By Application
7. South Korea Diethylene Glycol (DEG) Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Diethylene Glycol (DEG) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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