According to the latest report by IMARC Group, titled “Ethylene Glycol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global ethylene glycol market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the global ethylene glycol market to grow at a CAGR of 4% during 2021-2026. Ethylene glycol (CH2OH)2 is a synthetic liquid compound that finds vast applications in commercial and industrial sectors. A clear, colorless and viscous liquid at room temperature, it is miscible with water and organic liquids. It is primarily used as an antifreeze for cars, boats and airplanes to prevent the radiators from freezing or overheating, and as an industrial coolant in heating, ventilating and air conditioning (HVAC) systems, gas compressors and ice-skating rinks. Apart from this, it is widely utilized in the production of carpets, upholstery, pillows, solvents, paints, plastics, polyester fibers, jet skis, bowling balls and packaging films.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Ethylene Glycol Market Trends:
The global market is primarily driven by rapid industrialization and the rising demand for ethylene glycol for the manufacturing of polyethylene terephthalate (PET) packaging solutions. Owing to its light weight, excellent chemical resistance and great tensile strength, PET packaging solutions are increasingly being employed in various end use industries, which, in turn, is contributing to the market growth of ethylene glycol. The widespread adoption of polyester fibers as a cushioning material in pillows, comforters and upholstery padding is acting as another major growth-inducing factor. Moreover, the introduction of novel technologies in the production process is also driving the market. For instance, various manufacturing facilities are increasingly incorporating the novel coal to ethylene glycol (CtEG) technology, which is far more cost-effective than production from naphtha. The increasing awareness and commercialization of this novel technology for ethylene glycol production is expected to contribute to the market growth further. Several players are also engaging in the development of bio-based variants that are produced from agricultural wastes, including hay, molasses, and bagasse. Other factors driving the market include extensive applications of ethylene glycol in the pharmaceutical industry and significant growth in the textile industry.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Akzo Nobel N.V.
- Ashland Global Holdings Inc.
- China Petrochemical Corporation
- BASF SE
- The Dow Chemical Company
- Formosa Plastics Corporation, U.S.A.
- Huntsman International LLC
- INEOS AG
- Lotte Chemical Corporation
- LyondellBasell Industries N.V.
- Reliance Industries Limited
- Shell International B.V.
- Saudi Arabian Oil Company
Breakup by Product:
- Monoethylene Glycol (MEG)
- Diethylene Glycol (DEG)
- Triethylene Glycol (TEG)
Breakup by Manufacturing Process:
- Ethylene Oxide
- Biological Route
Breakup by Application:
- Polyester Fiber
- Antifreeze and Coolant
Breakup by End-Use Industry:
- Oil and Gas Industry
- Plastic Industry
- Transportation Industry
- Medical Industry
- Textile Industry
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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