Record-low Rhine water levels amid western European drought have forced BASF to declare force majeure on selected surfactant products, following similar action by Covestro on polyether polyols. Over 75% of Covestro's European raw materials move via the Rhine, and the disruption is spreading across the chemical cluster, tightening supply and supporting higher prices for affected products.
Investments in ethylene production capacity across Asia and the Middle East are improving supply availability for the metallocene polyethylene market. China continues to add ethylene capacity, supporting raw material availability for polyethylene manufacturers. The capacity additions are strengthening regional production capabilities and improving the overall supply outlook for ethylene.
Asia
Triethylene glycol prices moved unevenly in H1’26, supported by feedstock volatility and polyester-linked demand. China remained important for glycol consumption, as MEG imports reached 6.3 million mt during January-October 2025 and rose 16% year over year. Domestic MEG operating rates were only 55%-65%, keeping China dependent on imports from the Middle East and Asian suppliers. The Iran conflict had a direct feedstock effect, as 12%-16% of ethylene capacity was affected, tightening ethylene-linked derivatives. This combination of supply constraints and steady downstream demand contributed to periodic price firmness across the region.
Europe
Europe remained weak to stable, as oversupply and limited derivative demand capped upward movement. Producers focused on trade protection and possible antidumping action, while regional demand struggled to absorb additional glycol supply. The broader EG chain stayed under pressure because global sellers were looking for replacement markets after China halted US EG imports. Market participants also monitored inventory levels closely, as high stockpiles continued to weigh on pricing sentiment.
North America
North America faced downward pressure from disrupted export flows. US sellers had to redirect around 1 million metric tons per year of MEG previously consumed by China. Production discipline followed, with a 360,000 mt/year EG unit in Texas shut, while at least two other US Gulf Coast producers operated at reduced rates. These adjustments helped balance supply to some extent, but uncertainty around export destinations persisted. Near term, TEG prices are expected to stay range-bound to slightly firm if ethylene-linked supply stays tight, but oversupply in glycols may limit sharp gains.
Analyst Insight
According to Procurement Resource, near term, TEG prices are expected to stay range-bound to slightly firm if ethylene-linked supply stays tight, but oversupply in glycols may limit sharp gains.
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Asia
During 2025, triethylene glycol prices in Asia remained largely stable with intermittent downward pressure as abundant regional supply offset moderate downstream demand. Chinese producers continued operating at healthy utilization rates, while demand from construction chemicals, resins, plasticizers, and gas dehydration applications recovered only gradually. Feedstock ethylene oxide prices remained relatively stable for much of the year, and competitive export pricing encouraged buyers to procure on a need-based basis. Comfortable inventories and balanced market fundamentals prevented significant price volatility throughout the year.
Europe
European triethylene glycol prices displayed a stable-to-soft trend during 2025. Market participants continued to face sluggish demand from construction and automotive sectors despite stable supply conditions. Feedstock ethylene oxide prices and energy costs remained the primary pricing drivers, while improved import availability and sufficient inventories prevented supply tightness. Buyers largely maintained conservative procurement strategies amid persistent macroeconomic uncertainty, resulting in limited price movements across the year.
North America
The North American triethylene glycol market remained broadly balanced during 2025. Adequate domestic production and stable ethylene oxide supply ensured sufficient product availability, while demand from natural gas processing, antifreeze, and industrial applications remained moderate. Buyers continued purchasing according to immediate requirements, limiting inventory accumulation. With feedstock costs showing only modest fluctuations and no major supply disruptions reported, triethylene glycol prices moved within a relatively narrow range throughout 2025.
Triethylene glycol (TEG) is a colorless, odorless, and hygroscopic liquid chemically represented as C6H14O4. Known for its high boiling point and low volatility, TEG is primarily used as a dehydrating agent for natural gas and as a solvent in various industrial applications. It is also effective as a humectant, maintaining moisture in products like cosmetics and tobacco. TEG's low toxicity and stability make it suitable for use in antifreeze formulations, air sanitizers, and as a plasticizer in the manufacturing of plastics and resins. Its versatility and chemical properties make it an essential component in multiple industries.
C6H14O4
Natural Gas Dehydration, Air Sanitizers, Solvent, Plasticizer, Polyester Resins
SABIC, Reliance Industries Ltd., Eastman Chemicals, ExxonMobil, The Dow Chemical Company, Sinopec, Clariant, INEOS Group Ltd.
CurrencyUS$ (Data can also be provided in local currency)
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