Glycol Market Growing Trade Among Emerging Economies Opening New Opportunities To 2029

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In the molecule of glycol, two hydroxyl groups are attached to the different carbon atoms. Glycol is an odorless, colorless, sweet-tasting, flammable and viscous liquid.

The use of Glycol Market increases across several industries and the cooling properties of glycol help in completing various tasks. In recent times, the organic property of glycol has had a vital role in the growth of the glycol market globally. The usage of ethylene glycol in HVAC has created several factors for the growth of the global glycol market. Moreover, the rise in the usage of organic composites in the food and beverages packaging industry will flourish the market's growth.

Data Bridge Market Research analyses that the glycol market was valued at USD 35.78 billion in 2021 and is expected to reach USD 62.40 billion by 2029, registering a CAGR of 7.20% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Market Definition

Glycol is an organic compounds belonging to the alcohol family. In the molecule of glycol, two hydroxyl groups are attached to the different carbon atoms. Glycol is an odorless, colorless, sweet-tasting, flammable and viscous liquid. It can be toxic for human health if taken in high concentrations.

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Global Glycol Market Dynamics

Drivers

  • Growing demand  of propylene glycol  

Propylene glycol is used in hydraulic fluids and fire-resistant brake as a coolant in the transportation sector for engine cooling. This is widely used as a raw material for de-icing planes and as a heat transfer fluid for high-temperature applications. The rising demand of propylene glycol is expected to boost the growth of the glycol market.

  • Huge demand of glycol in food industry

Glycol is widely used to improve several processed food products, flavour, appearance, texture, and shelf life. The significant rise in processed foods is due to hectic lifestyles, growing working population and changing dietary patterns. These are some key factors expected to stimulate the glycol market's growth.

Furthermore, rising demand of the compound in polyester resins manufacturing, rising preferences towards the usages of organic synthesis are expected to boost the growth rate of the glycol market. Also, growing demand of products such as coolants and antifreeze is the major factor that will likely uplift the glycol demand in the market during the forecast period of 2022-2029. 

Opportunities

  • Increasing demand of glycol in automotive industry

The rising demand for glycol in the automotive industry is anticipated to increase the growth of the global market. Ethylene glycol has a significantly lower melting point than water, which keeps engines of ethylene from freezing in the winter and works as a coolant to avoid overheating in the summer. Also, ethylene glycol is used in vehicles to absorb combustion heat which is expected to generate lucrative opportunities for the global glycol market.

Furthermore, augmented utilization in paints and coatings, food, pharmaceuticals, combined with use in aircraft de-icing fluid will create a surge in demand for glycol and will increase valuable opportunities for the market's growth rate.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

  • In July 2021, Dow augmented propylene glycol (P.G.) capacity at its existing facility by 80,000 tons per year in Map Ta Phut, Thailand which is bringing the total capacity to 250,000 tons per year. This increased capacity boosts Dow’s existing asset infrastructure to support constant growth in high-value applications. This also aids the company to gain consumers’ attention in fast-growing markets.
  • In January 2021, the Indian Oil Corporation has announced the Indian Oil Ethylene Glycol Project at Paradip, which comprises of a 180 KTA Ethylene Recovery Unit and a 357 KTA Ethylene Glycol Unit, which will produce 332 KTA MEG. This project will aid in merging the Polyester business tion by way of producing Mono Ethylene Glycol (MEG), which is used to produce bottle grade chips, polyester fibers, and polyester film grade chips.

Global Glycol Market Scope

The Glycol  market is segmented on the basis of product, application and end-user industry. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

  • Ethylene Glycol

Monoethylene Glycol

Diethylene Glycol

Triethylene Glycol

  • Propylene Glycol

Application

  • Automotive
  • HVAC
  • Textiles
  • Airlines
  • Medical
  • Pipeline Maintenance
  • Polyester Fibers and Resins
  • Food and Beverage
  • Others

End-user Industry

  • Automotive and Transportation
  • Packaging
  • Food and Beverage
  • Cosmetics
  • Pharmaceuticals
  • Textile
  • Other End-user Industries

Glycol Market Regional Analysis/Insights

The glycol market is analyzed and market size insights and trends are provided by country, product, application and end-user industry as referenced above.

The countries covered in the glycol market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America and Europe dominate the glycol market in terms of market share. This is due to the increasing adoption of innovative approaches and manufacturing technologies.in this region.

Asia-Pacific is anticipated to be the fastest developing region during the forecast period of 2022-2029 due to the rising production of mono ethylene glycol and the increasing prevalence of huge consumer base in this region. The growing demand of glycol from several end-user industries such as cosmetics, textile, packaging, food beverage and others in countries such as South Korea, India, China, Japan, and Southeast Asian nations are expected to boost the market growth in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Glycol Market Share Analysis

The glycol market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to glycol market.

Some of the major players operating in the glycol market are:

  • Dow (U.S.)
  • LyondellBasell Industries N.V. (Netherlands)
  • BASF SE (Germany)
  • ADM (U.S.)
  • Global Bio-chem Technology Group Company Limited (China)
  • DuPont Tate Lyle Bio Products (U.S.)
  • SKC (South Korea)
  • Temix Oleo (Italy)
  • INEOS Oxide (Switzerland)
  • Huntsman International LLC (U.S.)
  • ADEKA CORPORATION (Japan)
  • Chaoyang Chemicals, Inc. (U.S.)
  • Manali Petrochemicals Limited (India)

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MAJOR TOC OF THE REPORT

Chapter One: Introduction

Chapter Two: Market Segmentation

Chapter Three: Market Overview

Chapter Four: Executive Summary

Chapter Five: Premium Insights

And More....

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