Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Thiodiglycol Market size was USD 296.5 million in 2024 and is estimated to reach USD 616.1 million by the end of 2037, expanding at a CAGR of 5.7% during the forecast period, i.e., 2025-2037. In 2025, the industry size of thiodiglycol is assessed at USD 313.4 million.
The thiodiglycol market is experiencing significant growth attributed to its increasing application as a solvent, owing to its capacity to dissolve a wide range of substances, including oils, resins, and dyes. The solvent properties of thiodiglycol are advantageous across various industries, including textiles, printing, and ink manufacturing. With the formula HSCH2CH2OH, thiodiglycol is a colorless and odorless liquid chemical compound. The molecule has a sulfur atom and belongs to the glycol family. This chemical is useful in numerous industrial applications due to several important properties.
With ethylene oxide being a key feedstock for thiodiglycol, its increased availability and cost efficiency lower production costs, encouraging manufacturers to expand capacity and enter new markets. This dynamic aligns with the rising demand for thiodiglycol across various industries.
Approximately 13.5 million tons of ethylene oxide were produced in 2022. In the first half of 2022, Sinopec, Dow Chemical, and Indorama Ventures Public Company Limited were the top three companies in the ethylene oxide industry. However, in 2022, Sinopec led the world in ethylene oxide sales. Indorama Ventures Public Company Limited in April 2022 paid USD 1.3 billion to acquire Oxiteno. The Brazilian Council for Economic Defense (CADE) approved the deal. Indorama Ventures made this acquisition to gain access to the U.S. and Latin American ethylene oxide markets as well as the opportunity to become a U.S. surfactant manufacturer.
Thiodiglycol Market: Growth Drivers and Challenges
Growth Drivers
- Increasing demand for paints and coatings: Thiodiglycol is an important component in the paint and coating business since it contains various resins and binders that are utilized in painting. Since TDG functions as a solvent in resins and also as a plasticizer and coalesce agent, it helps the paint's dispersed polymer particles to combine and form a continuous layer when it dries, preventing paint film cracking and enabling smoother application, better films, and easier adhesion to substrates. This enhances the coating's overall performance and film qualities. TDG is a component used to create an electrodepositable epoxy resin with sulfonium groups. Furthermore, a wide range of industries, including textiles, automotive, and construction, use these paints and coatings. The need for paints and coatings is further increased by the growing vehicle manufacturing industry. According to the European Automobile Manufacturers Association, 85.4 million motor vehicles were produced globally in 2022, a 5.7% increase over 2021.
- Growing application in the textile sector: Thiodiglycol’s main function in dyeing processes is to act as a solvent, improving the colors' solubility and efficacy. Additionally, this substance softens fabrics, which is important for customer pleasure since it improves their texture and feel. Additionally, this compound's derivatives are being investigated for their potential to create specific textile auxiliaries that improve the durability and water resistance of fabrics. Due to its biodegradability and reduced environmental impact when compared to conventional solvents, this chemical has also gained more attention as a result of the growing trend towards eco-friendly and sustainable fabrics. The need is anticipated to increase as the textile industry innovates further due to its adaptability and efficiency in enhancing textile performance and quality.
Country
Value of Textile Exports (in USD billion)
Country
Value of Textile Imports (in USD billion)
China
303
U.S.
148
Bangladesh
57.7
Germany
69.3
Vietnam
48.8
Japan
35.3
India
41.1
France
35.2
Germany
40
UK
33.7
Source: OEC
According to the Observatory of Economic Complexity With a total trade of USD 941 billion in 2022, textiles ranked as the seventh most traded product worldwide. Textile exports increased 6.8% between 2021 and 2022, from USD 881 billion to USD 941 billion. Textile trade accounts for 3.97% of global trade.
Challenges
- Health concerns: TDG is known to be poisonous and can be harmful to one's health if inhaled, consumed, or come into contact with the skin. It may irritate the mucus membranes, skin, and eyes. Repeated or prolonged exposure causes organ damage and more serious health problems. Furthermore, if this molecule is improperly disposed of or released into the environment, it contaminates soil and water supplies, endangering ecosystems and negatively affecting aquatic life.
- Fluctuating raw material prices & stringent laws: The reaction of 2-chloroethane with sodium sulfide results in the production of thiodiglycol. Thiodiglycol is classified as a polar protic solvent and serves numerous applications, including its use in inks for specific ballpoint pens and in the dyeing of textiles. However, fluctuations in the prices of raw materials can significantly affect production costs and pricing strategies for thiodiglycol manufacturers. Additionally, stringent environmental regulations concerning chemical manufacturing processes present challenges for industry participants, necessitating compliance with various standards that may lead to increased operational costs. Therefore, these factors will hinder the growth of the thiodiglycol market.
Thiodiglycol Market: Key Insights
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Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
5.7% |
|
Base Year Market Size (2024) |
USD 296.5 million |
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Forecast Year Market Size (2037) |
USD 616.1 million |
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Regional Scope |
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Thiodiglycol Segmentation
Application (Solvents, Ink, Antioxidants, Dyes)
The dyes segment is estimated to capture thiodiglycol market share of over 36.9% by 2037. Due to its solvent qualities and reducing agent capabilities, TDG plays a vital role in the dye industry.
This substance is primarily used in dyes as a solvent, reducing agent, dye formulation, and dye penetration agent. It serves as a solvent and intermediary in the manufacturing of certain dyes, assisting dye compositions in achieving the necessary uniformity and homogeneity. By promoting the reduction of dye precursors, it aids in the production of dyes that are vivid and quickly color. These dyes are frequently used in paints that are needed for building projects.
Additionally, the growing demand for paints due to increased investment in infrastructure development in developing nations is propelling the segment's rise. For instance, the India Brand Equity Foundation (IBEF) revealed that India's infrastructure industry is expected to grow rapidly, with USD 1.4 trillion in investments anticipated by 2025. The goal of the government's National Infrastructure Pipeline (NIP) initiative is to direct investments toward vital sectors like urban development, highways, railroads, and energy.
End use (Paints & Coatings, Chemicals, Paper & Pulp, Textiles, Plastic, Cosmetics)
The textile segment in thiodiglycol market will garner a notable share during the assessed period. This substance is widely utilized in the textile industry as a solvent and fabric finishing agent. This compound is a useful tool for textile manufacturers since it helps create desired qualities like softness, color brightness, and wrinkle resistance. Additionally, the growing demand for TDG in the manufacturing and processing of clothing is being fueled by the expanding textile industry in emerging nations. According to the Asia Garment Hub, with yearly export earnings of USD 293.6 billion in 2023 and an annual GDP share of 8.7%, China is the world's largest textile exporter. The textile sector employs about 8 million people.
Our in-depth analysis of the global thiodiglycol market includes the following segments:
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Application |
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End use |
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Customize this ReportThiodiglycol Industry - Regional Synopsis
APAC Market Statistics
Asia Pacific thiodiglycol market is expected to dominate revenue share of over 43.5% by 2037. The regional market growth is driven by the constantly rising industrial sector, which includes paints and coatings, chemicals, paper and pulp, and textiles. The region's growing disposable incomes are driving demand for products like dyes and inks that use this component in their manufacturing. Furthermore, the region's growing population is increasing demand for textiles, which in turn is increasing demand for dyes and inks, potentially driving thiodiglycol market expansion. The United Nations Population Fund reported that about 4.3 billion people, or 60% of the world's population, live in the Asia-Pacific region, which is also home to China and India, the two most populous nations on earth. Furthermore, the data indicates that the Asia Pacific region is home to the world's greatest textile producers.
In China, the rapid growth of the automotive sector and the rising production of polyester fibers and other textile products are driving the thiodiglycol market. According to the International Trade Administration, China is the largest automobile market in the world; by 2025, it is anticipated that domestic production will amount to 35 million vehicles. Over 26 million vehicles, including 21.48 million passenger cars, were sold in 2021, up 7.1% from 2020. Sales of commercial vehicles fell 6.6% from 2020 to 4.79 million units. Furthermore, the country's advantageous government policies that encourage local production and the availability of inexpensive labor have helped the ethylene oxide market expand. Also, the country’s rapid industrialization and infrastructure development have increased the demand for thiodiglycol across various sectors.
As a component in pesticide formulations, thiodiglycol supports India’s extensive agricultural industry. The country’s focus on enhancing agricultural productivity to meet the needs of its large population contributes to the rising demand for this compound. IBEF revealed that about 55% of India's population depends on agriculture as their main source of income, making it one of the world's leading agricultural nations. By 2025, the Indian agricultural sector is expected to grow to a value of USD 24 billion, according to Inc42. With 70% of revenues coming from retail, the Indian food and grocery market is the sixth largest in the world. Also, the country’s robust textile industry, driven by both domestic demand and export activities, increases the need for effective dyeing solutions, thereby boosting thiodiglycol consumption.
North America Market Analysis
North America thiodiglycol market is expected to grow at a significant rate during the projected period. Rubber, pharmaceuticals, agriculture, and other industries are the main drivers of the thiodiglycol market in North America. Thiodiglycol is widely used by the pharmaceutical industry for its solvent qualities, especially for creating topical and injectable drugs. It is a favored option for pharmaceutical applications due to its relatively low toxicity and compatibility with a broad variety of active pharmaceutical ingredients (APIs). The need for thiodiglycol, a crucial ingredient in pharmaceutical production processes, is increasing along with the demand for novel medicine formulations.
In the U.S., thiodiglycol market is gaining traction owing to its increased use in hair care products as bleaching agents and hair colors in the cosmetics sector. It works well as a component in hair-lightening formulas because of its capacity to enter the hair shaft and degrade melanin pigments. The thiodiglycol market is anticipated to continue to grow in the upcoming years due to the growing customer desire for cutting-edge, high-performing cosmetics. Additionally, as a precursor in the manufacturing of chemical warfare agents like sulfur mustard (mustard gas), thiodiglycol is essential to the defense industry. International law tightly regulates the manufacture and deployment of chemical weapons, but because of its potential for dual use, thiodiglycol is still a banned material. The demand for thiodiglycol in the U.S. is influenced by government organizations and defense contractors engaged in the study, creation, and storage of chemical defense capabilities.
Companies Dominating the Thiodiglycol Market
- BASF SE
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Merck KGaA
- HPC Standards GmbH
- Ing. Petr Svec – PENTA s.r.o.
- CATO
- Actylis
- Spectrum Chemical
- Benson Polymeric Inc.
- MAOMING YUNLONG INDUSTRIAL DEVELOPMENT CO., LTD.
- HiMedia Laboratories
Numerous small and medium-sized businesses coexist with a few major players in the fiercely competitive thiodiglycol market. These businesses are well-equipped to do research and development, and their wide range of products and distribution systems give them a significant market presence. Companies in the fiercely competitive thiodiglycol sector are concentrating on growing their product lines and gaining market dominance through partnerships, mergers, and acquisitions. Among the major participants in the thiodiglycol market are:
In the News
- In July 2024, Clariant, a sustainability-focused specialty chemical manufacturer, and OMV announced today their intention to collaborate on the supply of ethylene with a smaller carbon impact. In response to growing consumer demand for more sustainable solutions, and with a particular emphasis on Europe, this collaboration will assist both organizations in meeting their sustainability targets and delivering on their clients' carbon reduction strategies.
- In March 2024, BASF broke construction on a methyl glycols (MG) production at its Verbund facility in Zhanjiang, China. The new facility has an annual capacity of 46,000 metric tons and intends to address the region's constantly increasing need for brake fluids. The plant is slated to begin operations by the end of 2025.
Author Credits: Rajrani Baghel
- Report ID: 7106
- Published Date: Feb 06, 2025
- Report Format: PDF, PPT
