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Glycol Market Analysis 2023: Growth Rate, Trends, Share, Key Players Outlook And Industry Forecast To 2032 | ADEKA Corporation, Shell Plc, Chevron Phillips Chemical Company, Mitsubishi Chemical Corporation, The Archer-Daniels-Midland Company
Glycol Market
The Business Research Company's Glycol Global Market Report 2023 identifies expanding automotive industry as the major driver for the Glycol market's growth in the forecast period. The automotive industry refers to the industry that is involved in the development, production, marketing, and sale of motor vehicles, such as automobiles, trucks, motorcycles, and other vehicles.
The global glycol market size is expected to grow from $36.12 billion in 2022 to $39.22 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of glycol market is expected to reach $52.40 billion in 2027 at a CAGR of 7.5%.
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Major competitors in the Glycol market are ADEKA Corporation, Shell Plc, Chevron Phillips Chemical Company, Mitsubishi Chemical Corporation, The Archer-Daniels-Midland Company.
A key trend in the Glycol market includes Product innovations. Companies operating in the glycol market are focused on innovating new products and solutions to sustain their position in the market. For instance, in August 2022, Valvoline Inc., an automotive oil, additives, and lubricants manufacturing company, launched Valvoline Advanced Coolant, a glycol-based full-antifreeze coolant. This new coolant offers protection in extremely hot and cold climate conditions, protecting against overheating and freezing weather to keep the engine running. It is backward compatible with all cooling systems employing OAT coolants. It is a cutting-edge substance with a sophisticated formulation that extends the life of vehicle engines. With the help of its ethylene glycol-based formulation, it features a non-depleting organic-acid technology that might help prolong engine life and make it suitable for adverse conditions.
Read More On The Global Glycol Market Report Here:
https://www.thebusinessresearchcompany.com/report/glycol-global-market-report
The Glycol market is segmented -
1. By Type: Ethylene Glycol, Propylene Glycol, Other Types
2. By Application: Antifreeze and Coolants, Polyester Fiber Production, PET Bottles and Packaging, Solvents and Humectants, Dehydrating Agent, Chemical Intermediates
3. By End User: Automotive And Transportation, Packaging, Food and Beverage, Cosmetics, Textile, Other End-Users
4. By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Glycol market.
The Business Research Company's "Global Glycol Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Glycol Market Include:
1. Executive Summary
2. Glycol Market Characteristics
3. Glycol Market Trends And Strategies
4. Glycol Market - Macro Economic Scenario
……
32. Global Glycol Market Competitive Benchmarking
33. Global Glycol Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Glycol Market
35. Glycol Market Future Outlook and Potential Analysis
36. Appendix
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