The global glycols market value
is anticipated to exceed USD 47.2 billion by 2025, according to a new report by
Grand View Research, Inc. The rising HVAC demand for advanced and high quality
heating and cooling systems is expected to be a key factor steering the growth
in the coming years.
 |
| Global glycols market revenue by application, 2015, (USD Million) |
Glycols include ethylene,
propylene and its derivatives are predominately used in the automotive sector
as engine antifreeze and coolant products with lower freezing points. The
growing product demand in key end-use industries including food & beverage,
textiles, medical, and aerospace are expected to increase the consumption
globally.Heavy industrialization in countries such as Japan, China, and India
have contributed significantly to the glycols demand over the recent past.
Heating, ventilating, and air
conditioning (HVAC) sector dominated the global consumption with demand
exceeding 4,100 kilo tons in 2015. Textiles accounted for over 12% of global
revenue in 2015. Stringent chemical disposal regulations in the North American
and European region have contributed to this demand in the recent past and are
expected to continue the trend over the forecast period.
Growing R&D initiatives by
key participants coupled with technological advancements to discover novel diol
products with higher efficiency level and durability are expected to create new
opportunities for the industrial applications.
In depth research report on Glycols Market
Further key findings from the report suggest:
•
The global glycols demand was
exceeded 19,300 kilo tons in 2015 and is estimated to grow at a CAGR of 4.6%
from 2016 to 2025
•
Ethylene glycols dominated the
global product consumption while accounting for over 83% of the total market value
in 2015
•
Asia Pacific is expected to
witness the largest growth in next nine years and is expected to grow at an
estimated CAGR of 5.0% from 2016 to 2025. Key participants and regional local
players are adopting expansion and merger strategies to increase its
manufacturing capacity and gain higher profits.
•
The U.S. propylene glycol
demand is estimated to reach a net worth of USD 653.6 million by 2025 at a CAGR
of 5.9% from 2016 to 2025
•
Monoethylene glycol (MEG)
demand in Europe was over 3,950 kilo tons in 2015 and is estimated to grow at a
CAGR of 4.2% over the forecast period to reach a total volume exceeding 5,680
kilo tons by 2025
•
Major multinational companies
including BASF, Dow Chemical Company, Royal Dutch Shell, Huntsman International
LLC, SABIC, AkzoNobel, DuPont, and Reliance Industries dominated the global
glycol market.
Grand View Research has
segmented the glycols market on the basis of product, application and region:
Product Outlook (Volume, Kilo Tons; Revenue,
USD Million, 2014 - 2025)
•
Ethylene Glycol
•
Mono-ethylene glycol
•
Di-ethylene glycol
•
Tri-ethylene glycol
•
Propylene Glycol
Application Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2025)
•
Automotive
•
HVAC
•
Textiles
•
Airline
•
Medical
•
Pipeline Maintenance
•
Polyester Fibers & resin
•
Food & Beverage Processing
•
Others
Regional Outlook (Volume, Kilo Tons; Revenue,
USD Million, 2014 - 2025)
•
North America
o
U.S.
o
Canada
o
Mexico
•
Europe
o
Germany
o
U.K.
o
France
•
Asia Pacific
o
China
o
Japan
o
India
•
Central & South America
o
Brazil
•
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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