Ethylene Glycols Market By Product (MEG, DEG, TEG), By Application (PET, Polyester Fibers, Antifreeze) Expected to Reach USD 33.36 Billion by 2020: Grand View Research
Market Size – $23.81 bn in 2013, Market Growth – CAGR of 5%, Market Trends – Increasing application in textiles and PET manufacturing. View full report – http://www.grandviewresearch.com/industry-analysis/ethylene-glycols-industry.
San Francisco, California (PRWEB) June 10, 2014
The global market for ethylene glycol is expected to reach USD 33.36 billion by 2020, according to a new study by Grand View Research, Inc. Growing demand for polyethylene terephthalate (PET) for packaging applications, primarily in Asia Pacific and Latin America is expected to remain a key driving factor for the market. In addition, growth from global textiles industry is also expected to support the ethylene glycol market development over the forecast period. Volatile prices and tight supply of raw materials, on account of frequent fluctuations in crude oil prices, are expected to inhibit the market growth over the next six years.
Monoethylene glycol (MEG) emerged as the leading product segment and accounted for 89.9% of total market volume in 2013. MEG in addition to being the largest product segment is also expected to be the fastest growing ethylene glycol at an estimated CAGR of 4.8% from 2014 to 2020. MEG is mainly used for manufacturing PET and growth of global beverages market is expected to drive the demand for MEG over the forecast period. Global market for di-ethylene glycol (DEG) is expected to reach USD 337.1 million by 2020.
The report “Ethylene Glycols Market Analysis By Product (MEG, DEG, TEG), By Application (PET, Polyester Fibers, Antifreeze, Films) And Segment Forecasts To 2020,” is available now to Grand View Research customers at https://www.grandviewresearch.com/industry-analysis/ethylene-glycols-industry.
Request Free Sample of This Report @ http://www.grandviewresearch.com/industry-analysis/ethylene-glycols-industry/request
Further key findings from the study suggest:
- The global market volume for ethylene glycols was 16,511 kilo tons in 2013 and is expected to reach 22,815.4 kilo tons by 2020, growing at a CAGR of 4.7% from 2014 to 2020.
- PET emerged as the leading application market for ethylene glycols and accounted for 44.2% of total market volume in 2013. Growth of beverages industry mainly in Asia Pacific and Latin America is expected to drive this market over the next six years. Polyester fibers are expected to be the fastest growing market for ethylene glycols at an estimated CAGR of 5.1% from 2014 to 2020.
- Asia Pacific dominated the global ethylene glycols market and accounted for 66.5% of total market volume in 2013. Asia Pacific along with being the largest market is also expected to be the fastest growing market for ethylene glycols at an estimated CAGR of 4.9% from 2014 to 2020. This can be attributed to the growth of textile and automotive industries in the region. North America and European markets for ethylene glycols have reached their saturation point and are expected to grow at a relatively lower growth rates over the forecast period.
- The global market for ethylene glycol is fairly concentrated with top four companies operating in the market including SABIC, Dow Chemical Company, Sinopec and Shell Chemical accounted for over 50% of total market in 2013. Other companies operating in the market include Formosa Plastics Group, Honam Petrochemicals and Ineos.
Browse All Petrochemicals Mareket Reports By Grand View Research @ http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
For the purpose of this study, Grand View Research has segmented the ethylene glycol market on the basis of product, application and region:
- Global Ethylene Glycol Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
• Monoethylene Glycol (MEG)
• Diethylene Glycol (DEG)
• Triethylene Glycol (TEG)
- Global Ethylene Glycol Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 – 2020)
• Polyester Fibers
- Ethylene Glycol Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 – 2020)
• North America
• Asia Pacific
Browse All Grand View Research Ongoing Reports @ http://www.grandviewresearch.com/ongoing-reports
Latest Reports By Grand View Research:
Lysine Market Analysis By Application (Animal Feed, Food & Dietary Supplements, Pharmaceuticals), By Livestock (Swine, Poultry) And Segment Forecasts To 2020 (http://www.grandviewresearch.com/industry-analysis/lysine-market)
The global market for lysine is expected to reach USD 6.96 billion by 2020, according to a new study by Grand View Research, Inc. Positive outlook on animal feed demand to cater to growing meat consumption, especially in emerging markets of Latin America and Asia Pacific is expected to be a key market driver. Limited availability of major feedstock is expected to hamper the market growth over the forecast period. Animal feed emerged as the largest application segment for lysine and accounted for 92.4% of total market volume in 2013.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, 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 energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/.
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519
For the original version on PRWeb visit: http://www.prweb.com/releases/Ethylene-Glycols-Market/GrandViewResearchInc/prweb11926372.htm