Global Glycol Market By Product (Ethylene Glycol and Propylene Glycol), By Application (Automotive, HVAC, Textiles, Airlines, Medical, and Other Applications), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032
- Published date: May 2023
- Report ID: 42737
- Number of Pages: 254
Glycol Market Overview:
The global glycol market value is expected at USD 36,461.6 million by 2021. It is expected to register a CAGR of 6.9% for the forecast period.
There are many uses for glycol derivatives in the following sectors: transportation & automotive; heating; food and beverage processing; ventilation, & air conditioning; and polyester fibers. Due to recovering manufacturing activities, the market has seen a recent rebound in its economic outlook. This has had a positive influence on its growth.
Global Glycol Market Scope:
Product Type Analysis
According to the product, the market segments were propylene (1.2-propanediol) and ethylene (1.2-ethanediol). These products are used in a wide range of industries. The production of polyester compounds is dominated by propanediol.
Propylene glycol, which is low in toxicity, has been accepted by antifreeze agents. 1,2-propanediol is used in the antifreeze business. It is also used in the pharmaceutical, chemical, and food industries. It can also be used as a replacement for ethylene glycol. It can also be used to replace ethylene glycol in a 40-60:1 ratio with water.
Ethylene glycol is used extensively as an antifreeze. It also serves as a coolant and heat-transferring agent. It can lower fluid’s freezing point, but it also acts as a reagent in producing polyesters and alkyd resins. Ethylene-based glycols can also be used as an additive in printing inks.
The market targets key industries like polyester, fibers, automotive & resins. Food and beverage processing, Pharmaceuticals, pipeline maintenance, Textiles, Medical. The global post-recession economy saw structural changes in trade policies and business localization, sustainability, and fiscal mechanism.
The global GDP increased, as industrial activities improved in developed countries, while they also grew significantly in the developing world. Glycol manufacturers are optimistic about the future because of this development in the global economy.
Automotive will continue to grow at the fastest rate during the prediction period. Worldwide automotive production increased, and some European countries such as the Netherlands, Finland, and Portugal saw double-digit increases. Europe still holds a dominant position in glycol requests. As such, optimistic macro indicators should be used as a source to optimize the industry’s growth estimate.
Кеу Маrkеt Ѕеgmеntѕ
- Ethylene Glycol
- Monoethylene Glycol (MEG)
- Diethylene Glycol (DEG)
- Triethylene Glycol (TEG)
- Propylene Glycol
- Auto Retail
- Auto Traditional
- Specialty Applications
- Pipeline Maintenance
- Polyester Fibers & Resins
- Food & Beverage
- Other Applications
Glycols have come up for scrutiny in the wake of increased regulatory oversight. FDA & U.S. EPA have taken a close look at their adverse effects on human safety. FDA has prescribed safe daily intake levels of propylene glycol, despite it being generally recognized to be safe (GRAS).
EPA has conducted similar studies regarding the toxicology profiles of glycols as well as recommended methods for handling these chemicals. Regulations play an important role in the industry’s development. They influence compliance protocols, inventory protocols, manufacturing standards, and other aspects of the industry. Also, such intervention at the state level leads to a greater emphasis being placed on development expenditures for companies. Companies are generally dominated primarily by changing customer preferences.
The chemical industry is seeing companies making an effort to improve supply chain efficiency and reduce cost uncertainties. The world has opened up to virtual markets, and the chemical sector is following suit.
Numerous online platforms allow end-users to purchase chemicals (including Glycols) through such portals. A virtual marketplace is convenient for customers. A virtual marketplace allows vendors to reduce costs associated with their physical infrastructure. This trend has had a positive impact on the market by increasing profit margins for companies, as well as broadening their customer base.
Europe and North America have always been the leaders in manufacturing technologies, and innovative approaches to building an industry ecosystem. But, the market has witnessed a major shift towards Asian markets. China has established itself as a regional but also a global manufacturing hub. The Asia Pacific accounted for almost 44.8% of global glycol production capacity in 2021.
India, China & Taiwan dominated the region’s production. India & China accounted for 85.0% of each of the region’s consumption. Their large consumer base & export-oriented production are characteristics that make them a strong contender.
Key Regions and Countries covered іn thе rероrt:
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- South Africa
- Rest of MEA
A surge in demand across many industries for glycols has created a high-level competition among players. Many glycol recovery firms have emerged in North America due to the high potential for growth in developing nations. Global markets are product-driven. Market players invest heavily in research and development to commercialize products with improved specifications.
Маrkеt Кеу Рlауеrѕ:
- Royal Dutch Shell
- Lotte Chemical
- Other Key Players
For the Glycol Market research study, the following years have been considered to estimate the market size:
Attribute Report Details
Short Term Projection Year
Long Term Projection Year
Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.
North America, Europe, Asia-Pacific, South America, Middle East & Africa
United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa
Frequently Asked Questions (FAQ)What is the size of the Glycol market in 2021?
The Glycol market size is estimated to be US$ 36,461.6 million in 2021.What is the projected CAGR at which the Glycol market is expected to grow at?
The Glycol market is expected to grow at a CAGR of 6.9% (2023-2032).List the segments encompassed in this report on the Glycol market?
Market.US has segmented the Glycol market by geographic (North America, Europe, APAC, South America, and Middle East and Africa). By Product, market has been segmented into Ethylene Glycol and Propylene Glycol. By Application, the market has been further divided into Automotive, HVAC, Textiles, Airlines, Medical, Pipeline Maintenance, Polyester Fibers & Resins, Food & Beverage, and Other Applications.List the key industry players of the Glycol market?
DowDuPont, BASF, Sinopec, Royal Dutch Shell, Lotte Chemical, Ashland, Cargill, Univar, AkzoNobel, and Other Key Players engaged in the Glycol market.Which region is more appealing for vendors employed in the Glycol market?
APAC is expected to account for the highest revenue share of 44.8%. Therefore, the Glycol Technology industry in APAC is expected to garner significant business opportunities over the forecast period.Name the key areas of business for Glycol?
China, India, Canada, Mexico, Germany, France, U.K., Japan, Brazil & The US, are key areas of operation for Glycol Market.Which segment accounts for the greatest market share in the glycol industry?
With respect to the Glycol industry, vendors can expect to leverage greater prospective business opportunities through the propylene glycol segment, as this area of interest accounts for the largest market share.
- Ethylene Glycol
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