Global Glycol Market 2017-2021

Overview of the global glycol market

Technavio’s research analysis on the global glycol market has identified the growing demand for unsaturated polyester resins as one of the primary factors that will have a positive impact on the market’s growth in the coming years. The adoption of unsaturated polyester resins is increasing due to the rising shift towards the consumption of eco-friendly products. Moreover, the introduction of stringent regulations by the European Union (EU) to reduce the emission of volatile organic compounds (VOC), inducing manufacturers to use eco-friendly chemicals, will also boost the application of unsaturated polyester resins. Furthermore, the expansion of the composite industry will also drive the need for unsaturated polyester resins. Since the production of unsaturated polyester requires a precursor such as glycol, the increasing demand for these resins will have a significant impact on this market’s grwoth prospects. Our market research analysts predict that this market will grow at a CAGR of more than 6% by 2021.

With the growing demand for PET in packaging, the need for ethylene glycol is increasing significantly. Moreover, the growth of the textile industry and the increased application of mono-ethylene glycol as an anti-freezing agent coolant in the automotive industry, will also fuel the demand for ethylene glycol. According to our market research and analysis, this increasing demand for ethylene glycol will be one of the key trends that will gai traction in the glycol market during the estimated period.

Competitive landscape and key vendors

The glycol market appears to be moderately fragmented with the presence of many global and local glycol manufacturers. The vendors are increasingly competing against each other based on factors such as price, quality, and distribution network. Moreover, to improve their market positions and increase their profit margins, glycol manufacturers are also focusing on following various strategies and executing newer technologies.

Key vendors in this market are -

• Akzo Nobel
• BASF
• SABIC
• Shell
• The Dow Chemical Company

Other prominent vendors in the market include DuPont, HaiKe Chemical Group, Huntsman International, India Glycols Limited, INEOS, ME Global, Repsol, and Reliance Industries

Segmentation by application and analysis of the glycol market

• HVAC
• Automobiles
• Polyester fiber and resins
• Textiles
• Airlines

The installation of heating, ventilation, and air conditioning (HVAC) systems in new building construction is increasing every year. HVAC systems need glycol-based heat transfer liquids for freeze protection. Manufacturers extensively use glycol to allow low-temperature operations in HVACs. Our analysts have predicted that the HVAC segment will account for the major shares of the glycol market throughout the next few years.

Segmentation by geography and analysis of the glycol market

• Americas
• APAC
• EMEA

Countries in APAC such as China, Indonesia, India, Vietnam, and Thailand are witnessing an increasing demand for glycol. The adoption of glycol will increase in this region since it is used in polyester fibre and resins and automotive applications. Moreover, its usage in the manufacture of textiles and in the production of polyester fiber will also drive the market’s grwoth prospects in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global glycol market?
• What are the key market trends impacting the growth of the global glycol market?
• What are the challenges to market growth?
• Who are the key vendors in the global glycol market?
• What are the market opportunities and threats faced by the vendors in the global glycol market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global glycol market?

Technavio also offers customization on reports based on specific client requirement.