Press release
Ethylene Glycol Market Estimated to Exceed US$ 57.9 Billion Globally by 2023-2028 | CAGR of 4.4%
Ethylene Glycol Market
The global ethylene glycol market size reached US$ 44.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 57.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028.
Ethylene glycol represents a transparent and slightly viscous chemical compound that is usually used as an industrial coolant and antifreeze. It is also utilized as a raw material for the production of polyester fibers, fiberglass, polyethylene terephthalate resin, etc., that find extensive applications in the manufacturing of upholstery, bowling balls, bathtubs, packaging materials, etc. In line with this, some of the common types of ethylene glycol available in the market include diethylene glycol (DEG), tri ethylene glycol (TEG), mono ethylene glycol (MEG), etc. They transfer fluids in compressors and heating, ventilating, and air conditioning (HVAC) systems. Consequently, ethylene glycol is widely used in numerous consumer products, such as hydraulic brake fluids, automotive antifreeze, paints, solvents, plastics, films, etc.
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Global Ethylene Glycol Market Trends:
The increasing industrialization levels across countries are among the key factors stimulating the ethylene glycol market. Moreover, the escalating demand for this chemical compound to manufacture plastic packaging is acting as another significant growth-inducing factor. Apart from this, the widespread adoption of polyester fibers as a cushioning material in pillows, comforters, upholstery padding, etc., is positively influencing the global market. Furthermore, the growing utilization of ethylene glycol in the pharmaceuticals industry and the expanding textile sector are also propelling the market growth.
Besides this, the introduction of novel technologies in the production process, the rising consumer environmental consciousness, and extensive investments in R&D activities are augmenting the global market. Additionally, several product innovations, including the development of bio-based variants, by leading manufacturers are expected to fuel the ethylene glycol market over the forecasted period.
Explore the Full Report with TOC & List of Figures: https://www.imarcgroup.com/ethylene-glycol-market
Competitive Landscape:
The competitive landscape of the market has been studied in the report with 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
Key Market Segmentation:
Breakup by Product:
• Monoethylene Glycol (MEG)
• Diethylene Glycol (DEG)
• Triethylene Glycol (TEG)
Breakup by Manufacturing Process:
• Ethylene Oxide
• Coal
• Biological Route
• Others
Breakup by Application:
• Polyester Fiber
• PET
• Antifreeze and Coolant
• Film
• Others
Breakup by End-Use Industry:
• Oil and Gas Industry
• Plastic Industry
• Transportation Industry
• Medical Industry
• Textile Industry
• Others
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 (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• 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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IMARC Group
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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