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.
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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.
• 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.
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
• 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
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About Grand View Research
Grand View Research, Inc. is a market
research and consulting company that provides off-the-shelf, customized
research reports and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from
technology to chemicals, materials and energy. With a deep-seated
understanding of varied business environments, Grand View Research
provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
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
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
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