(Food-Beverage-News.Com, September 18, 2018 ) The Glycols Market was worth USD 25.56 billion in 2014 and is expected to reach approximately USD 44.03 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 6.23% during the forecast period. The product derivatives are used to make engine antifreeze and coolant products predominately used in automotive and HVAC systems. The developing interest crosswise over key end-use ventures are required to the expansion the usage of glycols around the globe. Ethylene glycol can be used for applications that require synthetic intermediates for freezing point depression, chemical intermediates, humectants, resins, solvent couplers, and other solvents. These applications are imperative to composing an expansive scope of products, including automotive coolants, deicing fluids, resins and antifreeze.
Product Outlook and Trend Analysis Ethylene glycol ruled the product fragment, representing more than 83% of aggregate market in 2015. It is blended with water in a particular focus to modify thickness and fluctuates with the percent of the ethane-1,2-diol and the temperature of the liquid. Raw material required to fabricate the product is easily accessible; thus it finds numerous specialty applications in textile and pharmaceuticals businesses.
Application Outlook and Trend Analysis HVAC applications ruled the market in 2015 and represented more than 21% of the general business, inferable from its expansive glycol use of in warming and cooling systems, for example, electrolytic capacitors, inhibitors, and heat transfer fluids. Developing demand for high calibre and bio-based product in the production of antifreeze and coolant is foreseen to support the product usage in automotive applications.
Regional Outlook and Trend Analysis Asia Pacific represented more than 43% of aggregate volume in 2015 and is foreseen to command the worldwide request in the following years. Rising requirement in nations, for example, Indonesia, India, Vietnam, Thailand, and India is expected to drive the usage in the territorial market. Developing polyester fibre creation for assembling materials and PET is foreseen to drastically advance market entrance.
Competitive Insights The leading players in the market are SABIC, BASF, Reliance Industries, Royal Dutch Shell, DuPont, Dow Chemical Company, AkzoNobel and HUNTSMAN INTERNATIONAL LLC. Extensions and mergers are the essential business systems embraced by worldwide players to expand its assembling limit and buyer base. The development of one of a unique products and innovative progressions to enhance effectiveness and quality are a portion of the key methodologies actualized by organizations to build share and manage the opposition.
By Application: HVAC Airline Pipeline Maintenance Food & Beverage Processing Automotive Textiles Medical Polyester Fibers & resin Others
By Region North America The U.S. Canada Mexico Europe Germany UK France Russia Italy Rest of Europe Asia-Pacific China Japan South Korea India Southeast Asia Rest of Asia-Pacific South America Brazil Argentina Columbia South Africa Rest of South America The Middle East and Africa Saudi Arabia UAE Egypt Nigeria South Africa Rest of MEA
Some of the key questions answered by the report are: What was the market size in 2014 and forecast from 2015 to 2023? What will be the industry market growth from 2015 to 2023? What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast? What are the major segments leading the market growth and why? Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?