Global Glycols Market was valued US$ 29.61 Bn in 2017 and is expected to reach US$ 48.20 Bn by 2026, at a CAGR of 6 % during a forecast period.
Glycols include ethylene, propylene and its derivatives are predominately used in the automotive sector as engine antifreeze and coolant products with lower freezing points. The growing product demand in key end-use industries including food & beverage, textiles, medical, and aerospace are expected to increase the consumption globally.
Rising demand for the compound in polyester resins manufacturing will add to glycol market growth in forecast time frame. Textile manufacturers are shifting focus on low cost and easily accessible chemical intermediates. A surge in the application of product as a protecting group in organic synthesis will be a major driving force for glycol market growth.
Based on product, the Ethylene glycols segment is expected to contribute major revenue share to the global market and is expected to maintain its dominance over the forecast period. The growing demand for polyester in textile industry is driving the demand of Mono-ethylene glycols in textile end-use industry. Textiles accounted for over 12% of global revenue in 2017.
Asia Pacific is expected to witness the largest growth in forecast period and is expected to grow at an estimated CAGR of 5.0 %. Countries in the Asia Pacific are expanding their production capacities and investing in new projects to decrease dependence on imports and thereby boosting regional energy security and autonomy.
Key participants and regional local players are adopting expansion and merger strategies to increase its manufacturing capacity and gain higher profits. The rising HVAC demand for advanced and high quality heating and cooling systems is expected to be a key factor steering the growth in the Asia-Pacific and North America.
The report covers a global and regional level estimation and analysis for the glycols market. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report. The glycols market report covers an in-depth study of global and regional market and market attractiveness analysis, wherein the application, components, and regional segments are benchmarked based on their growth rate, general attractiveness, and market size.
Key players operating in the global glycols market are BASF, Dow Chemical Company, Royal Dutch Shell, Huntsman International LLC, SABIC, AkzoNobel, DuPont, India Glycols, Orion Chem, HaiKe Chemical and Reliance Industries.
Scope of Global Glycols Market:
Global Glycols Market, by Product:
• Ethylene Glycol
• Mono-ethylene glycol
• Di -ethylene glycol
• Tri- -ethylene glycol
• Propylene Glycol
Global Glycols Market, by Application:
• Pipeline Maintenance
• Polyester Fibers & resin
• Food & Beverage Processing
Global Glycols Market, by Region:
• North America
• Middle East & Africa
• Asia Pacific
• South America
Key Players Operating In Global Glycols Market:
• Dow Chemical Company
• Sinopec, Corp
• Royal Dutch Shell plc.
• Reliance Industries Ltd.
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