Glycols Market by Product, Application, and Region – Global Market Size Estimation, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2030
Overview
Glycols Market was valued at USD 37.36 Bn in 2023 and is expected to reach USD 56.18 Bn by 2030, at a CAGR of 6% during a forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Glycols Market Dynamics
Glycols include ethylene, propylene and their derivatives are predominately used in the automotive sector as engine antifreeze and coolant products with lower freezing points. The growing product demand in key end-use industries including food & beverage, textiles, medical, and aerospace is expected to increase consumption globally.
Rising demand for the compound in polyester resins manufacturing will add to glycol market growth in the forecast time frame. Textile manufacturers are shifting focus on low cost and easily accessible chemical intermediates. A surge in the application of the product as a protecting group in organic synthesis will be a major driving force for glycol market growth.
Glycols Market Segment Analysis
Based on product, the Ethylene glycols segment is expected to contribute a major revenue share to the global market and is expected to maintain its dominance over the forecast period. The growing demand for polyester in the textile industry is driving the demand for Mono-ethylene glycols in the textile end-use industry. Textiles accounted for over 12% of global revenue in 2023.
Regional Insights
Asia Pacific is expected to witness the largest growth in the forecast period and is expected to grow at an estimated CAGR of 5.0%. Countries in the Asia Pacific are expanding their production capacities and investing in new projects to decrease dependence on imports and thereby boosting regional energy security and autonomy.
Key participants and regional local players are adopting expansion and merger strategies to increase its manufacturing capacity and gain higher profits. The rising HVAC demand for advanced and high-quality heating and cooling systems is expected to be a key factor boosting the growth in Asia-Pacific and North America.
The report covers a global and regional level estimation and analysis for the market. The impact of the different market factors, such as drivers, restraints, and opportunities, challenges key issues SWOT analysis, and technology forecasting is also illustrated in the report.
The glycols market report covers an in-depth study of the global and regional market and market attractiveness analysis, wherein the application, components, and regional segments are benchmarked based on their growth rate, general attractiveness, and market size.
Glycols Market, Key Highlights:
Global Glycols Market analysis and forecast, in terms of value.
Comprehensive study and analysis of market drivers, restraints, and opportunities influencing the growth of the Global Market
Global Glycols Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
Global Glycols Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA), and Latin America along with country-wise segmentation.
Profiles of key industry players, their strategic perspective, market positioning, and analysis of core competencies are further profiled.
Competitive developments, investments, strategic expansion, and competitive
landscape of the key players operating in the Global Market is also profiled.
Glycols Market Scope: Inquire before buying
| Glycols Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 37.36 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 6% | Market Size in 2030: | USD 56.18 Bn. |
| Segments Covered: | by Product | Ethylene Glycol Mono-ethylene glycol Di-ethylene glycol Tri-ethylene glycol Propylene Glycol |
|
| by Application | Automotive HVAC Textiles Airline Medical Pipeline Maintenance Polyester Fibers & resin Food & Beverage Processing Others |
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Glycols Market, by Region:
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players:
1. SABIC
2. Dow Chemical Company
3. Sinopec, Corp
4. Royal Dutch Shell plc.
5. Reliance Industries Ltd.
6. Huntsman International LLC
7. BASF
8. Kuwait Petroleum Corporation
9. AkzoNobel N.V.
10. Clariant AG
11. Formosa Plastics Corporation
12. INEOS
13. Ultrapar Participacoes S.A. (Ultrapar)
14. LOTTE CHEMICAL CORPORATION
15. Archer Daniels Midland Company
16. Dupont Tate & Lyle Bio Products LLC
17. Temix International S.R.L.
18. Ashland, Inc.
19. Cargill Inc.
20. LyondellBasell Industries
Frequently Asked Questions:
1. Which region has the largest share in Global Glycols Market?
Ans: Asia Pacific region held the highest share in 2023.
2. What is the growth rate of Global Glycols Market?
Ans: The Global Glycols Market is growing at a CAGR of 6% during forecasting period 2024-2030.
3. What is scope of the Global Glycols market report?
Ans: Global Glycols Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Glycols market?
Ans: The important key players in the Global Glycols Market are – Dow Chemical Company, Sinopec, Corp, Royal Dutch Shell plc., Reliance Industries Ltd., Huntsman International LLC, BASF, Kuwait Petroleum Corporation, AkzoNobel N.V.,
5. What is the study period of this market?
Ans: The Global Glycols Market is studied from 2023 to 2030.