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.
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.
Access research report onglycols market analysis: http://www.grandviewresearch.com/industry-analysis/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)
- Pipeline Maintenance
- Polyester Fibers & resin
- Food & Beverage Processing
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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