Companies in the Global Triethylene Glycol Market Resorting to Product Innvoation to Stay Ahead in the Game

Market Definition and Introduction

Triethylene glycol is an organic, chemical compound which belongs to the ethylene glycol product category. It is a liquid by physical form, and displays characteristics such as it being transparent, soluble in water, odorless and being viscous in nature. It displays advantages in applications where lower volatility than diethyl glycol is required, and in cases where high boiling point is needed or high molecular weight of the product is preferred.

Triethylene glycol is also known to display moisture absorption capabilities which are useful for hygroscopic applications. Triethylene glycol finds a major application in the form of dehydration of natural gas. Triethylene glycol is also used for moisture removal in air conditioning systems applications. The key role of Triethylene glycol in the petroleum industry makes it an important product to assess, with regard to its market at a global level.

Hence, considering the vital applications of triethylene glycol, the study of the triethylene glycol market becomes an important read.

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Market Segmentation

On the basis of product type, the global triethylene glycol market is segmented as follows:

Regular grade triethylene glycol
High purity grade triethylene glycol
On the basis of application, the global triethylene glycol market is segmented as follows:

Manufacture of solvents
Manufacture of plasticizers
Dehydration of natural gas
Manufacture of polyester resins
Manufacture of Polyurethanes
Others
Key Trends, Drivers

It could be observed that the substantial growth of the global chemical industry in recent times has also been contributing to the market growth of triethylene glycol at a global level. Triethylene glycol also finds important applications in the manufacture of solvents and plasticizers, which in turn, find applications in the automotive industry. The rapid expansion of the automotive industry, especially in fast growing economies such as India, China and the South East Asian region is expected to further fuel the demand growth of triethylene glycol across regions. Also, triethylene glycol has been finding increasing number of end uses in the plastics, polymer & rubber industries, which has been currently boosting triethylene glycol sales of manufacturers, and the trend is expected to continue at least over the next few years.

Increasing demand for triethylene glycol in the production of polyester resins, polyester fibers and polyethylene terephthalate (PET) resin production has also been driving the global triethylene glycol market. Besides, the use of triethylene glycol in the production of alkyl resins which find applications in the paints & pigment industry has also been on the rise, thereby signifying an important correlation between the growth of the paints & pigments industry and the triethylene glycol market.

Developed countries such as the U.S., Japan, Qatar, Russia, Germany, U.K., France, Italy & Spain, in recent times have been focusing on increased use of natural gas through favorable import & export policies, improvement of transport infrastructure & efficient utilization, thereby creating a strong potential for the triethylene glycol market at a worldwide level in the coming years. Also, new, favorable policies encouraging gas use as a clean fuel is expected to favorably impact the growth rate of the triethylene glycol market.

It is important to note that triethylene glycol is manufactured from crude oil as the primary raw material. Hence, it could be observed that fluctuations in crude oil prices have a direct impact on triethylene glycol prices. Fluctuating crude oil prices have an adverse effect on triethylene glycol price stability, thereby slowing market growth in the short run. Also, increasingly stringent regulations with regard to the manufacture and application uses of triethylene glycol could potentially prove to be a constraint with regard to the market. This is coupled with the fact that prices of crude oil which is used for the production of triethylene glycol are volatile in nature, and dictate the cost of production of triethylene glycol to a considerable extent.

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Market Participants

Examples of the market participants in the global triethylene glycol market are as follows:

ExxonMobil
The Dow Chemical Company
Helm AG
Brenntag Nederland BV
Shell Chemicals
India Glycols Limited
TOC Glycol Company Limited
Huntsman Corporation
BASF SE
Lotte Chemical Corporation

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This release was published on openPR.