The
global Glycols Market size
is projected to reach USD 47.26 billion by 2025, according to a new report by
Grand View Research, Inc., progressing at a CAGR of 6.7% during the forecast
period. Recovering end-use industries in developed nations is a key driving
factor for the market.
Further key findings from the report suggest:
Ethylene
glycol is used in several applications that entail intermediaries for solvent
couplers, resins, for freeze point depression, and humectants. These points of
applications are crucial in manufacturing of a wide range of products that
include polyester resins, coolants, antifreeze formulations, heat transfer
fluids, latex paints, paper, textiles, cosmetic formulations, leather,
solvents, electrolytic capacitors, and APIs.
Obtainability
of bio-based glycols manufactured by ethylene and propylene glycol molasses as
substitutes in various applications, combined with volatility in raw material
(petrochemicals and crude oils) prices, is expected to limit market growth over
the forecast period. Glycol manufacturing companies are engaged in developing
innovative solutions in the form of new products, increasing processing
efficiency, and developing tailored supply chain solutions.
Further key findings from the report suggest:
- In terms of
volume, the global market volume was estimated at 20.57 million tons in
2018. It is likely to register a CAGR of 5.3% from 2019 to 2025
- Asia Pacific
accounted for over 44.0% of the global demand in 2018, with China and
India being major consumers in the region
- In 2018,
Monoethylene glycol (MEG) accounted for over 85.0% of the total ethylene
glycol demand. MEG is widely used in polyester fibers and antifreeze
formulations
- Globally,
around 5.5. billion gallons of glycols are produced every year and the
production rate is growing at the rate of approximately 200 million
gallons per year
- EPA has
listed glycol waste as hazardous and estimates only 12.0% of used
antifreeze is recycled every year
- Major glycol
manufacturers include BASF SE, AkzoNobel N.V., Clariant AG, and Huntsman
Corporation
- Many glycol
products are nowadays aiming at recycling and reusing to comply with
stringent environmental and sustainability regulations, especially in
North America and Europe.
About Us:
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, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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