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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.
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 -
Other prominent vendors in the market include DuPont, HaiKe Chemical Group, Huntsman International, India Glycols Limited, INEOS, ME Global, Repsol, and Reliance Industries
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.
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.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
PART 06: MARKET SIZING
PART 07: FIVE FORCES ANALYSIS
PART 08: MARKET SEGMENTATION BY APPLICATION
PART 09: REGIONAL LANDSCAPE
PART 10: DECISION FRAMEWORK
PART 11: DRIVERS AND CHALLENGES
PART 12: MARKET TRENDS
PART 13: VENDOR LANDSCAPE
PART 14: VENDOR ANALYSIS
PART 15: APPENDIX
PART 16: QUALITY ASSURANCE CHECKLIST
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