“Ethylene Glycol Market” – Increasing applications in end-use industries such as textile and resin based PET are expected to have a substantial impact on global ethylene glycol market growth.Changes in ethylene oxide prices have effects on ethylene glycol prices on account of being a primary feedstock in manufacturing process. Ethylene glycol is prominently used to manufacture polyester fiber, PET resins and films. Ethylene glycol is also used as antifreeze, dewatering, heat transfer and coolant agent, precursor to polymers, runaway de-icing fluids and hydrate inhibitors. Niche applications of ethylene glycol
include aircraft components, inks, automobile parts, pesticides, dyes cleaners, wood protective coats and preserving agent. DEG is used to produce polyurethanes and unsaturated polyester resins.
Browse Detailed Report with TOC at:
TEG is primarily used for dehydration of natural gas. High manufacturing cost and less byproducts yield are expected to hinder ethylene glycol market over the forecast period. Volatile crude oil prices affected ethylene glycol and its byproducts in recent years, and is expected to hamper ethylene glycol market over the next eight years. However, optimum raw material utilization and bottle neck process stage management is anticipated to offset volatile crude oil prices.
The product applications are concentrated only in industrial or consumer goods industries on account of harmful chemical properties. Polyester fibers and fabrics are used in textile industries. Growing textile industries globally are anticipated to have a positive impact on ethylene glycol market. Downstream products of ethylene glycol have significant advantage over glass or other industries, which is likely to affect the market growth positively over the next eight years. These chemicals are projected to substitute other chemicals in many industries. Ethylene glycol need to be properly produced, transported, stored and disposed to avoid effect on environment and health owing to stringent government regulations.
Monoethylene glycol accounted for the largest global product market with over 90% market share in 2013 owing to major feedstock for manufacturing downstream chemicals and other products. The market is also expected to have the fastest growth over the next eight years. Innovations to reduce manufacturing cost and harmful environmental impacts are anticipated to create ample opportunities for the market. DEG and TEG jointly covered most of the remaining market in 2013. TEG registered the slowest growth in the market in 2013, and the trend is expected to continue over the forecast period. Major ethylene glycol applications include polyester fiber, PET, films and antifreeze. Polyester fiber market recorded the highest revenue generation followed by PET in 2013 owing to growing applications in textile industries globally. The product consumption in PET industries is growing at high pace due to emerging PET bottles market and end-use industries. However, application such as antifreeze had witnessed the slowest growth in 2013 and is expected to follow the same trend over the forecast period.
Synthetic Lubricants Market:
Global Butane Market:
Linear Alkyl Benzene Market:
Asia Pacific was the largest market for ethylene glycol in 2013 and is expected to grow at rapid pace over the forecast period owing to increasing textile and automotive industries in the region. Emerging economies such as China, Indonesia and India are witnessing fast growing GDP which raised disposable income. Increase in disposable income is anticipated to fuel global ethylene glycol market growth in the region over the next eight years. North America and Europe is expected to have negative impact on ethylene glycol market growth due to increasing applications of bio based ethylene glycol. Stringent regulations related to environmental impacts in the region are forcing PET industries to shift towards bio based raw materials.
Request a sample copy of this Report at:
SABIC dominated global ethylene glycol market in 2013 accounting for 28% market share. Ethylene glycol market is moderately fragmented. Other key players in the market include Sinopec, Dow Chemicals, Shell, Huntsman Corporation, Reliance Industries Ltd., Akzonobel, BASF, Clariant, Kuwait Petroleum Corporation, Formosa Group, Ineos Oxide, Lyondellbasell Industries, Exxon Mobil Corp. and Honam Petrochemical Corporation.
Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
Company Name: Hexa Research
Contact Person: Michelle Thoras and Ryan Shaw
Email: Send Email
Address:Felton Office Plaza, 6265 Highway 9
Country: United States