Global Ethylene Glycol Industry Market Report Description:
Global Ethylene Glycol industry market report gives comprehensive outlook on Ethylene Glycol industry across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The report on global Ethylene Glycol industry market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, end users, and regions. This report studies global Ethylene Glycol industry market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global Ethylene Glycol industry market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global Ethylene Glycol industry market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global Ethylene Glycol industry market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global Ethylene Glycol industry products.
Global Ethylene Glycol Industry Market:
The global Ethylene Glycol industry market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Ethylene glycol is a chemical commonly used in many commercial and industrial applications including antifreeze and coolant. It is extensively used as a raw material in the production of polyester fibers and for antifreeze preparations. Ethylene glycol helps to keep car’s engine free from freezing in the winter and therefore acts as a coolant to decrease overheating in the summer. Hence, boosting its demand in the market. However, its toxic nature severely dampens the growth of market.
Growing Demand for PET Bottles
Ethylene glycol find its application in various end users such as fiber, PET, film, antifreeze & coolant, others. PET holds a major share in the market with a considerable CAGR. The growth in this segment can be attributed to factors such as increasing demand for PET bottles from packaging industries. Moreover, change in customer preferences toward packaged food and beverage products boosts the growth of PET segment. Growing awareness amid the customer vis-à-vis healthier and finest beverage brands is raising the demand for PET bottles, which is further augments the market growth during the forecast period.
Asia Pacific Accounts for Larger Market Revenue Share in Global Ethylene Glycol Industry Market
Asia Pacific is projected to account for largest share in the market during the forecast period. Developing textile industry creates a demand for polyester fibers and increasing consumer spending is further up surging the regional market growth. Moreover, due increases tour and travelling industry in the region there is growing demand for products like packaged beverage is augmenting the ethylene glycol market during the forecast period. The market in North America region is prophesied to grow at a substantial CAGR by the completion of the forecast period. Product penetration play vital role in the regional market growth.
Key player’s profiles in the global ethylene glycol industry market include:
- MEGlobal, Shell
- Formosa Plastics
- Reliance Industries
- Lotte Chemical
Key players in ethylene glycol industry market enhance their product portfolio and consumer base by adopting striking market strategy like collaborations, acquisitions, technological innovations, among others. For instance, On September 27, 2018, BASF and LetterOne signed a definitive agreement to merge their oil and gas businesses in a joint venture. The new joint venture will operate under the name Wintershall DEA.
Key Findings of the Report:
- Global ethylene glycol industry market expanding at significant CAGR over 2019 to 2025 due to increasing usage of environmental friendly insecticides.
- Based on end users, PET segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global ethylene glycol industry market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market.
By Product Type
- Monoethylene Glycol (MEG)
- Diethylene Glycol (DEG)
- Triethylene Glycol (TEG)
By End User Type
- Antifreeze & Coolant
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East and Africa
- South Africa
- Gulf Corporation Council Counties (GCC)
- Rest of MEA