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.
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.
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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.
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
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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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.
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