Precision Business Insights (PBI) in its report titled “Global Ethylene Glycol Industry Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global ethylene Glycol glycol industry market was valued at US$ XX Mn in 2018 and projected to reach US$ XX Mn by 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.
Global ethylene glycol industry market segmented on the basis of product type, end user, and regions.
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PET Segment Accounts for the Higher Revenue Share
Based on end user type, ethylene glycol industry is segmented into 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 Leads the Global Ethylene Glycol Industry Market
Precision Business Insights (PBI) global ethylene glycol industry market report analyses the market in different regions of North America, Europe, Latin America, Asia Pacific, and Middle East Africa. According to regional analysis, 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 which 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.
Strategic Business Agreements Play Vital Role in Global Ethylene Glycol Industry Market
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 players mentioned in the report includes SABIC, MEGlobal, Shell, Formosa Plastics, Dowdupont, Reliance Industries, Sinopec, BASF, PTTGC, Sibur, Lotte Chemical, Eastman, Exxonmobil, among others.
By Product Type
o Monoethylene Glycol (MEG)
o Diethylene Glycol (DEG)
o Triethylene Glycol (TEG)
By End User Type
o Antifreeze & Coolant
o North America
Rest of Europe
Rest of Asia Pacific
o Latin America
Rest of Latin America
o Middle East and Africa
Gulf Corporation Council Counties (GCC)
Rest of MEA
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