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Ethylene Glycol Market Trends, Growth, Size & Forecast 2024-2031 | Shell plc, BASF SE, Sinopec Corp
Ethylene Glycol Market
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What is the projected growth of the Global Ethylene Glycol market?
Global Ethylene Glycol Market reached US$ 29.2 billion in 2022 and is expected to reach US$ 40.1 billion by 2031, growing with a CAGR of 4.2% during the forecast period 2024-2031.
What is Ethylene Glycol Market?
The Ethylene Glycol Market revolves around the production and use of this vital chemical in antifreeze, polyester fiber manufacturing, and PET plastics. Driven by rising demand in automotive, textile, and packaging industries, market growth is fueled by industrial expansion and technological advancements. Sustainability concerns are shaping innovations in bio-based alternatives and recycling processes.
Who are the major players in the Ethylene Glycol market?
The prominent players in Ethylene Glycol market research report are:
Saudi Basic Industries Corporation, Shell plc, Dow Chemical Company, BASF SE, Sinopec Corp, Reliance Industries Limited, Mitsubishi Chemical Corporation, LyondellBasell Industries Holdings B.V., Lotte Chemical Corporation and Huntsman Corporation.
The companies are primarily focusing on strategies such as new product launches to penetrate the fastest-growing emerging markets across the world.
Key Development
BASF SE took a major step in expanding its production capabilities on October 16, 2023, by increasing capacities for ethylene oxide and its derivatives at its integrated site in Antwerp, Belgium. This investment adds approximately 400,000 metric tons per year to BASF's production capacity, reinforcing its commitment to growing its customer base and strengthening its market position in Europe.
On October 17, 2022, Saudi Basic Industries Corporation (SABIC) expanded its operations with the launch of its third Ethylene Glycols Plant under its subsidiary, Jubail United Petrochemicals. The new United Ethylene Glycol Plant, now gearing up for commercial operations, boasts an impressive annual production capacity of 700,000 metric tons of Monoethylene Glycol (MEG).
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Market Segments
By Type: Monoethylene Glycol (MEG), Diethylene Glycol (DEG), Triethylene Glycol (TEG), Others.
By Technology: Gas-Based, Naptha-Based, Coal-Based, Bio-Based, Methanol-Based, Others.
By Application: Solvent Coupler, Chemical Intermediate, Solvent, Humectant, Others.
By End-User: Transportation, Packaging, Oil & Gas, Building and Construction, Food & Beverages, Sports, Fabric & Textiles, Personal Care & Cosmetics, Medical & healthcare, Others.
The Ethylene Glycol industry is experiencing rapid growth, driven by advancements in medical technologies, increased demand for innovative therapies, and a rising focus on patient-centered care. As these sectors evolve, the need for comprehensive market analysis becomes crucial to understand trends, regulatory changes, and emerging opportunities.
Regions Covered:
The global Ethylene Glycol Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.
☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel
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Benefits of the Report:
➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Top-down and bottom-up approach for regional analysis
➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
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Email: Sai.k@datamintelligence.com
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DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
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