“Global Glycol Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global glycol market report has been segmented on the basis of product, application, and region.
Global Glycol Market: Introduction
Glycol is alcohol with two OH groups on adjacent carbon atoms. There are two type glycols namely ethylene glycol and propylene glycol. Ethylene glycol is used as antifreeze in automobile cooling systems, human-made fibers, brake fluid, and low-freezing explosives. Propylene glycol is non-toxic, sweet, and colorless chemical, used in foods, oral hygiene, and cosmetics products as a preservative, moisture-retaining agent, and solvent.
Global Glycol Market: Dynamics
Increasing demand for glycol in applications such as automotive, HVAC, food & beverage, textile, and others is expected to augment revenue growth of the target market over the forecast period. Introduction of bio-based propylene glycol is expected to boost the demand for propylene glycol in the food & beverage industry, which in turn drive the growth of the global target market. Moreover, increasing demand for glycol in the textile industry as a chemical intermediate in developing countries is estimated to support the revenue growth of the global market.
Global Glycol Market: Product Analysis
Among product segments, the ethylene glycol segment is estimated to grow at a steady growth rate in the global market. Ethylene glycol is widely used as heat-transferring, coolant, and antifreeze agent. Increasing demand for coolants and anti-freezing agents in the automotive industry is anticipated to support revenue growth of the segment. Increasing demand for ethylene glycol in hydraulic fluids, paint solvents, and printing inks.
Global Glycol Market: Application Analysis
Among application segments, the automotive segment is projected to grow at a higher growth rate in the target market in the next few years. Growing demand for automobiles in developing and developed economies owing to rapid urbanization and increasing purchase power of individuals is a major factor projected to drive the growth of this segment over the forecast period. The textile segment is estimated to grow at a moderate growth rate over the forecast period.
Global Glycol Market: Regional Insights
North America glycol market is expected to contribute major revenue share in the potential market. Increasing demand for glycol in the automotive industry is a major factor projected to drive revenue growth of target market in the region. Moreover, rising demand for electrical and electronic products in the region owing to the increasing purchasing power of individuals is another factor anticipated to support revenue growth of glycol market in North America over the forecast period.
North American is estimated to contribute major revenue share in the global glycol market, followed by markets in Europe and Asia Pacific. The glycol market in Asia Pacific is projected to grow at a higher growth rate over the forecast period. Increasing demand for glycols in industrial applications in the countries such as China and India is expected drive revenue growth of Asia Pacific glycol market. China is expected to contribute a major share in terms of revenue in the Asia Pacific glycol market. Moreover, growing textile industry in the region is another factor expected to drive revenue growth of glycol market in Asia Pacific.
Global Glycol Market Segmentation:
Segmentation by Product:
- Ethylene Glycol
- Propylene Glycol
Segmentation by Application:
- Food & Beverage
- Building & Construction
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Huntsman International LLC
- Royal Dutch Shell plc
- The Dow Chemical Company
- China Petroleum & Chemical Corporation
- BASF SE
- Reliance Industries Limited
- Kuwait Petroleum Corp.
- Akzo Nobel N.V.
- Clariant AG
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