The global market for ethylene glycol is expected
to reach USD 33.36 billion by 2020, according to a new study by Grand View
Research, Inc. Growing demand for polyethylene terephthalate (PET) for
packaging applications, primarily in Asia Pacific and Latin America is expected
to remain a key driving factor for the market. In addition, growth from global
textiles industry is also expected to support the ethylene glycol market
development over the forecast period. Volatile prices and tight supply of raw
materials, on account of frequent fluctuations in crude oil prices is expected
to inhibit the market growth over the next six years.
Monoethylene glycol (MEG) emerged as the leading
product segment and accounted for 89.9% of total market volume in 2013. MEG in
addition to being the largest product segment is also expected to be the
fastest growing ethylene glycol at an estimated CAGR of 4.8% from 2014 to 2020.
MEG is mainly used for manufacturing PET and growth of global beverages market
is expected to drive the demand for MEG over the forecast period. Global market
for di-ethylene glycol (DEG) is expected to reach USD 337.1 million by 2020.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/ethylene-glycols-industry
Further
key findings from the study suggest:
- The global market volume for ethylene glycols was 16,511 kilo tons in 2013 and is expected to reach 22,815.4 kilo tons by 2020, growing at a CAGR of 4.7% from 2014 to 2020.
- PET emerged as the leading application market for ethylene glycols and accounted for 44.2% of total market volume in 2013. Growth of beverages industry mainly in Asia Pacific and Latin America is expected to drive this market over the next six years. Polyester fibers are expected to be the fastest growing market for ethylene glycols at an estimated CAGR of 5.1% from 2014 to 2020.
- Asia Pacific dominated the global ethylene glycols market and accounted for 66.5% of total market volume in 2013. Asia Pacific along with being the largest market is also expected to be the fastest growing market for ethylene glycols at an estimated CAGR of 4.9% from 2014 to 2020. This can be attributed to the growth of textile and automotive industries in the region. North America and European markets for ethylene glycols have reached their saturation point and are expected to grow at a relatively lower growth rates over the forecast period.
- The global market for ethylene glycol is fairly concentrated with top four companies operating in the market including SABIC, Dow Chemical Company, Sinopec and Shell Chemical accounted for over 50% of total market in 2013. Other companies operating in the market include Formosa Plastics Group, Honam Petrochemicals and Ineos.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
For the purpose of this study, Grand
View Research has segmented the ethylene glycol market on the basis of product,
application and region:
Global
Ethylene Glycol Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012
- 2020)
• Monoethylene Glycol (MEG)
• Diethylene Glycol (DEG)
• Triethylene Glycol (TEG)
Global
Ethylene Glycol Application Outlook (Volume, Kilo Tons; Revenue, USD Million,
2012 - 2020)
• PET
• Polyester Fibers
• Antifreeze
• Films
• Others
Ethylene
Glycol Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
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Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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