Press release
Ethylene Glycol Market to Expand at 4.1% CAGR over 2024 to 2032
Ethylene Glycol Market
Ethylene Glycol (EG) has many essential physical and chemical features, making it a significant ingredient in different industries, including paints & coatings, automotive, chemicals, polymers & plastics, and others. The increasing demand for polyethylene terephthalate (PET) is set to flourish the market expansion. The lightweight attribute of PET makes it the go-to alternative for bottlers that develop daily products, including soft drinks and water.
There was a negative influence of the COVID-19 pandemic on the market on account of the lockdown, which led to upheavals in import-export activities across the world. In addition, transportation activities witnessed an all-time low and EG, which is a necessary ingredient in automotive aftermarket applications observed a similar decline trend amid the pandemic.
Fortune Business Insightsโข provides this information in its research report, titled "Ethylene Glycol Market, 2024-2032".
๐๐๐ญ ๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ ๐๐ซ๐จ๐๐ก๐ฎ๐ซ๐:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/ethylene-glycol-market-110172
๐๐ข๐ฌ๐ญ ๐จ๐ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐๐ง๐ญ๐ข๐จ๐ง๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ:
โข BASF (Germany)
โข China Petrochemical Corporation (China)
โข EQUATE Petrochemical (Kuwait)
โข Indorama Ventures (Thailand)
โข INEOS (U.K.)
โข LG Chem (South Korea)
โข Mitsubishi Chemical Corporation (Japan)
โข Reliance Industries Limited (India)
โข SABIC (Saudi Arabia)
โข Shell (U.K.)
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
๐๐จ๐ง๐จ๐๐ญ๐ก๐ฒ๐ฅ๐๐ง๐ ๐๐ฅ๐ฒ๐๐จ๐ฅ (๐๐๐) ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐๐ ๐๐ฐ๐ข๐ง๐ ๐ญ๐จ ๐๐ญ๐ข๐ฅ๐ข๐ณ๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐ ๐จ๐ซ๐ฆ๐ฎ๐ฅ๐๐ญ๐ข๐จ๐ง ๐จ๐ ๐๐ง๐ญ๐ข๐๐ซ๐๐๐ณ๐ ๐ ๐จ๐ซ๐ฆ๐ฎ๐ฅ๐๐ญ๐ข๐จ๐ง๐ฌ
With respect to type, the market is divided into Monoethylene Glycol (MEG), Triethylene Glycol (TEG), and Diethylene Glycol (DEG). The Monoethylene Glycol (MEG) segment occupied the largest share in 2023, which can be attributed to its deployment in the development of antifreeze formulations for industrial and automotive applications.
๐๐จ๐ฌ๐ญ-๐๐๐๐๐๐ญ๐ข๐ฏ๐๐ง๐๐ฌ๐ฌ ๐จ๐ ๐๐ ๐๐จ๐ซ ๐๐จ๐ฅ๐ฒ๐๐ญ๐ก๐ฒ๐ฅ๐๐ง๐ ๐๐๐ซ๐๐ฉ๐ก๐ญ๐ก๐๐ฅ๐๐ญ๐ (๐๐๐) ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ข๐จ๐ง ๐ญ๐จ ๐๐ฆ๐ฉ๐๐ฅ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐ฑ๐ฉ๐๐ง๐ฌ๐ข๐จ๐ง
By application, the market is divided into polyester resins, solvents & chemical intermediates, Polyethylene Terephthalate (PET), antifreeze & coolants, and others. The Polyethylene Terephthalate (PET) segment registered the largest ethylene glycol market share in 2023, which can be ascribed to the ready availability of the product on a large scale and its economic approach to production. This factor makes it a cost-effective option for the production of PET.
In terms of region, the market is classified into the Middle East & Africa, Asia Pacific, North America, Latin America, and Europe.
๐ฎ๐๐ ๐ ๐ธ๐๐๐๐:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/ethylene-glycol-market-110172
๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฏ๐๐ซ๐๐ ๐
The report comprehensively discusses the major driving and restraining factors impacting the market expansion. It further offers a detailed analysis of the major industry developments, COVID-19 pandemic impact, and notable industry developments. The report also throws light on strategic moves adopted by key companies to gain a competitive edge.
๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ ๐๐ง๐ ๐๐๐ฌ๐ญ๐ซ๐๐ข๐ง๐ญ๐ฌ:
๐๐ฎ๐ซ๐ ๐ข๐ง๐ ๐๐ข๐จ-๐๐๐ฌ๐๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ ๐๐ซ๐๐ง๐ ๐ญ๐จ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ ๐๐๐ฐ ๐๐ซ๐จ๐๐ข๐ญ๐๐๐ฅ๐ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ, ๐๐ซ๐จ๐ฉ๐๐ฅ๐ฅ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก
Nations emphasizing energy security and independence may look for options, including bio-based EG, to decrease the dependence on imported petroleum products. The requirement for bio-based EG has arrived from an amalgamation of economic, technological, regulatory, and environmental attributes, which is expected to generate profitable market opportunities.
However, the concerns related to regulatory compliance and environmental influence may hinder the ethylene glycol market growth.
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
๐๐ฌ๐ข๐ ๐๐๐๐ข๐๐ข๐ ๐๐จ๐ฆ๐ข๐ง๐๐ญ๐๐ฌ ๐ ๐ฎ๐๐ฅ๐๐ ๐๐ฒ ๐๐ฎ๐ ๐ ๐๐๐ฉ๐ฅ๐จ๐ฒ๐ฆ๐๐ง๐ญ ๐จ๐ ๐ญ๐ก๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ ๐ข๐ง ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฌ
Asia Pacific occupies the largest market share on account of the massive deployment of the product in industries, which makes China dominant. The regional growth can further be attributed to the availability of a well-established PET and polyester production base, which is leading to the high product demand in China.
North America's market growth can be credited to the presence of the largest competitors, such as MEGlobal, Sabic, and Shell Chemical. These companies primarily cater to regional demand and are anticipated to moderately result in the regional growth during the study period.
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐๐ง๐๐ฌ๐๐๐ฉ๐:
๐๐๐๐๐ข๐ง๐ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐๐ฉ๐ฅ๐จ๐ฒ ๐๐จ๐ข๐ง๐ญ ๐๐๐ง๐ญ๐ฎ๐ซ๐๐ฌ ๐ญ๐จ ๐๐จ๐จ๐ฌ๐ญ ๐๐ก๐๐ข๐ซ ๐๐จ๐ฌ๐ข๐ญ๐ข๐จ๐ง
The market has witnessed the involvement of prominent companies, including SABIC, ExxonMobil, and INEOS, in strategies such as product capacity expansion, joint ventures, and acquisition to cater to the rising product demand. Other strategies adopted by top companies include partnerships and mergers.
๐๐๐ฒ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ:
โข July 2021: Clariant, an innovative specialty chemicals provider, inked a 51-49% joint venture deal with India Glycols Limited (IGL), a prominent name in green technology-based chemicals manufacturing. This new venture will function under the Clariant IGL Specialty Chemicals Private Limited name.
๐น๐๐๐ ๐ด๐๐๐ ๐ฐ๐๐๐๐๐๐๐๐๐๐ :
https://www.fortunebusinessinsights.com/ethylene-glycol-market-110172
๐น๐๐๐๐๐๐ ๐น๐๐๐๐๐๐ -
Ethylene Market: https://www.fortunebusinessinsights.com/ethylene-market-104532
Polyethylene (PE) Market: https://www.fortunebusinessinsights.com/industry-reports/polyethylene-pe-market-101584
Polyethylene Terephthalate (PET) Market: https://www.fortunebusinessinsights.com/industry-reports/polyethylene-terephthalate-pet-market-101743
Contact Us:
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
Fortune Business Insightsโข offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
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