Ethylene Glycol Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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A07002
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Sep 2020 |
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COVID-19
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Ethylene Glycol Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Request Now !Ethylene Glycol Market Analysis 2020-2027:
Ethylene glycol is an organic compound, which is used as a raw material in the production of polyester fiber. It is used as coolant in the automobile’s engine. In addition, it acts as a heat transfer agent. In addition, the mixing of ethylene glycol with water provides the benefits of preventing corrosion, acid degradation, and preventing the growth of certain bacteria. MEG is one of the main raw materials used in the production of polyethylene terephthalate (PET). MEG-based PET is used in the manufacture of bottles of drinking water, carbonated drinks, and food packages.
Market scope and structure analysis
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Base year considered |
2019 |
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Forecast period |
2019 – 2027 |
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Forecast units |
USD Million and Kiloton |
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Segments covered |
Types, Application, and Region |
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Regions covered |
Asia-Pacific, North America, Europe, and LAMEA |
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Companies covered |
Dow, Royal Dutch Schell, Exxon Mobil, Mitsubishi Chemicals, SABIC, NANYA plastics, LyondellBasell, LOTTE Chemicals, Reliance Industries, and India Glycols |
Segmentation by type
- Mono ethylene glycol
- Di ethylene glycol
- Tri ethylene glycol
Segmentation by application
- PET
- Polyester fibers
- Anti-freeze
- Films
- Others
COVID-19 scenario analysis
With global lockdown and supply chain disruptions, the demand for many products decreased significantly. The textile industries have shut down their production operation, owing to the outbreak of COVID-19. Fabric production has currently suspended as people are not allowed to go for shopping. With many industries facing crises, the pharmaceutical industry is still functional in the market. The COVID-19 pandemic has increased the demand for personal protective care such as face masks and disinfectants. Ethylene glycol has anti-bacterial properties, thus making it an ideal disinfectant during this crisis. Ethylene glycol is used in hospitals for sterilizing surgical tools. Thus, the global ethylene glycol market is witnessing significant growth in this pandemic.
Market scenario
Ethylene glycol has witnessed rise in the demand due to high adoption of polyester fibers among MEG manufacturers. Polyester fibers are the most widely used fibers, accounting of over 50% of the total fiber demand. This is attributed to the fact that polyester fibers provide various advantages over the traditional fibers (cotton) such as resistance to stains, moisture, wrinkle, and oil. The expansion of the textile industry and surge in demand for the polyester fibers are expected to drive the market growth for ethylene glycol. Similarly, the packaging industry is witnessing extensive growth due to surge in demand for the packaged food across the globe. Thus, increased use of PET in package industry is expected to boost the global ethylene glycol market during the forecast period. However, the fluctuating prices of ethylene glycol is expected to pose a major challenge for expansion of the global market.
Market trends
The use of ethylene oxide in sterilizers is expected to drive the market growth exponentially in the coming years. Ethylene glycol has anti-bacterial properties, which help to act as a disinfectant and is used to sterilize medical devices. Ethylene glycol can eliminate various bacterial infections. This further increases its value in the healthcare industry. Consumers choose products which are better packaged. Thus, the use of PET in the packaging of various foods & beverages has increased the demand for ethylene glycol.
Market challenges
One of the major challenges restricting the growth of ethylene glycol is its toxicity. Many food authorities have banned the use of PET due to its toxic nature. However, with no alternate in the market, the ethylene glycol market is expected to grow in the coming years.
Regional insights
Asia-Pacific dominated the ethylene glycol market with over half of the share. This is attributed to the development in the textile and automobile industries in the developing countries such as India and China. North America is the second largest shareholder in the ethylene glycol market, due to increase in demand for packaged products and expansion of industries such as paints in the region.
Key benefits of the report
- This report presents the analytical depiction of the global ethylene glycol industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers and opportunities along with detailed analysis of the global ethylene glycol market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global ethylene glycol market growth scenario.
- The report provides a detailed market analysis depending on competitive intensity and how the market will take shape in coming years.
Questions answered in the global ethylene glycol market research report:
- Which are the leading players active in the global ethylene glycol market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
- Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
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- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
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Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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