The global Ethylene Glycols Market is projected to grow from USD 29.1 Bn in 2021 to 41.96 Bn by 2030, at a CAGR of 4.15% in forecast period, 2022-2030.
The increased adoption of Ethylene Glycols in the Petrochemicals industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Ethylene Glycols also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Ethylene Glycols in many sectors also boosts the market growth during the forecast period.
The organic substance ethylene glycol has the chemical formula (CH2OH)2. It is a hygroscopic, thick, colourless, virtually odourless, poisonous liquid with limited volatility. The production of polyester fibres, antifreeze solutions, fibreglass, and polyethylene terephthalate resin, which is then used to make upholstery, bathtubs, bowling balls, and packaging materials, all start with ethylene glycol as a raw ingredient. Monoethylene Glycol (MEG), Diethylene Glycol (DEG), and Triethylene Glycol (TEG) are some of the more popular forms of ethylene glycol. These fluids are often used in compressors and heating, ventilation, and air conditioning (HVAC) systems as heat transfer fluids.
Ethylene Glycols Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Application (Polyester Fiber, PET,Antifreeze and Coolant, Film, Others), Product (Monoethylene Glycol (MEG), Triethylene Glycol (TEG), Diethylene Glycol (DEG), By Manufacturing Process (Ethylene Oxide, Coal, Biological Route, Others), By End-Use Industry (Oil and Gas Industry, Plastic Industry, Textile Industry, Transportation Industry, Medical Industry, Others) and companies (LyondellBasell Industries NV, Reliance Industries Ltd., Royal Dutch Shell plc, SABIC (Saudi Basic Industries Corporation), Ultrapar Participacoes S.A.Akzo Nobel NV, BASF SE, Exxon Mobil Corporation, Formosa Plastics Corporation, Huntsman International LLC, Ineos Oxide, Kuwait Petroleum Corporation, Lotte Chemical Corporation, China Petrochemical Corporation (Sinopec Group), Clariant AG, DowDupont Inc.), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 4.15%, over the forecast period of 2022–2030
|Report Attributes||Report Details|
|Market Size in 2030 (USD Billion)||41.96 Billion|
|By Product||Monoethylene Glycol (MEG), Triethylene Glycol (TEG)|
|By Application||Polyester Fiber, PET, Film, Others|
|Manufacturing Process||Ethylene Oxide, Coal, Biological Route, Others|
|By Geography||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
|Key Players||LyondellBasell Industries NV, Reliance Industries Ltd., Royal Dutch Shell plc, SABIC (Saudi Basic Industries Corporation), Ultrapar Participacoes S.A.Akzo Nobel NV, BASF SE, Exxon Mobil Corporation, Formosa Plastics Corporation, Huntsman International LLC, Ineos Oxide, Kuwait Petroleum Corporation, Lotte Chemical Corporation, China Petrochemical Corporation (Sinopec Group), Clariant AG, DowDupont Inc.|
The COVID-19 pandemic has had a substantial negative influence on the Ethylene Glycols market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
LyondellBasell Industries NV, Reliance Industries Ltd., Royal Dutch Shell plc, SABIC (Saudi Basic Industries Corporation), Ultrapar Participacoes S.A.Akzo Nobel NV, BASF SE, Exxon Mobil Corporation, Formosa Plastics Corporation, Huntsman International LLC, Ineos Oxide, Kuwait Petroleum Corporation, Lotte Chemical Corporation, China Petrochemical Corporation (Sinopec Group), Clariant AG, DowDupont Inc.
Market Segment Analysis:
- Antifreeze and Coolant
- Polyester Fiber
- Diethylene Glycol (DEG)
- Monoethylene Glycol (MEG)
- Triethylene Glycol (TEG)
By Manufacturing Process:
- Biological Route
- Ethylene Oxide
By End-Use Industry:
- Transportation Industry
- Medical Industry
- Oil and Gas Industry
- Plastic Industry
- Textile Industry
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Ethylene Glycols industries in the region.
Key Ethylene Glycols Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Ethylene Glycols Market segments.
– Largest Market Share Held by Industry to Industry for Ethylene Glycols
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Ethylene Glycols Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
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