According to the latest report by IMARC Group, titled "Ethylene Glycol Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global ethylene glycol market size grew at a CAGR of 4.5% during 2014-2019. Ethylene glycol (CH2OH)2 is a synthetic liquid compound that finds vast applications in commercial and industrial sectors. A clear, colorless and viscous liquid at room temperature, it is miscible with water and organic liquids. It is primarily used as an antifreeze for cars, boats and airplanes to prevent the radiators from freezing or overheating, and as an industrial coolant in heating, ventilating and air conditioning (HVAC) systems, gas compressors and ice-skating rinks. Apart from this, it is widely utilized in the production of carpets, upholstery, pillows, solvents, paints, plastics, polyester fibers, jet skis, bowling balls and packaging films.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Ethylene Glycol Market Trends:
The global market is primarily driven by rapid industrialization and the rising demand for ethylene glycol for the manufacturing of polyethylene terephthalate (PET) packaging solutions. Owing to its light weight, excellent chemical resistance and great tensile strength, PET packaging solutions are increasingly being employed in various end use industries, which, in turn, is contributing to the market growth of ethylene glycol. The widespread adoption of polyester fibers as a cushioning material in pillows, comforters and upholstery padding is acting as another major growth-inducing factor. Moreover, the introduction of novel technologies in the production process is also driving the market. For instance, various manufacturing facilities are increasingly incorporating the novel coal to ethylene glycol (CtEG) technology, which is far more cost-effective than production from naphtha. The increasing awareness and commercialization of this novel technology for ethylene glycol production is expected to contribute to the market growth further. Several players are also engaging in the development of bio-based variants that are produced from agricultural wastes, including hay, molasses, and bagasse. Other factors driving the market include extensive applications of ethylene glycol in the pharmaceutical industry and significant growth in the textile industry. On account of the aforementioned factors, the market is anticipated to witness moderate growth during the forecast period (2020-2025).
Market Summary:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
LinkedIn: https://www.linkedin.com/company/imarc-group/
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91-120-433-0800 )
Drop us an email at
sales@imarcgroup.com