Glycol Market to Grow with a CAGR of 4.77% Globally through 2029
Increasing usage of glycol in the textile industry is expected to drive
the Global Glycol Market growth in the forecast period, 2025-2029
According to TechSci Research report, “Glycol Market
- Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2029”, the Global Glycol Market stood at USD 38.27 billion in
2023 and is anticipated to grow with a CAGR of 4.77% in the forecast period,
2025-2029. Initiatives taken by government based on glycol has led to favorable
market conditions for the Global Glycol Market. Several factors contribute to
the growth of various glycol products.
The World Health Organization (WHO) has urgently
called upon countries to take action in order to prevent, detect, and respond
to incidents of substandard and falsified medical products. This initiative has
far-reaching implications, not only for the healthcare industry but also for
the glycol market. In particular, polyethylene glycol (PEG), a versatile
compound widely used in various medical applications, is expected to be
significantly impacted.
In a similar vein, the Food and Drug Administration
(FDA) has recently issued warnings regarding specific eye drop products that have
been found to potentially cause infections. These particular products contain
Polyethylene Glycol 400 0.4% and Propylene Glycol 0.3%. It is crucial for
healthcare professionals and consumers to be aware of these warnings and make
informed decisions regarding their use.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Glycol Market”
In textile production, glycol plays a vital role as a
critical component in the creation of polyester fibers and resins. Its unique
properties enable it to control viscosity, enhancing the overall quality of
adhesives and sealants. Additionally, glycol accelerates the dyeing process by
facilitating the penetration and saturation of dyes into the fabric, resulting
in vibrant and long-lasting colors.
Furthermore, the textile and apparel industry is
experiencing a significant shift towards the dominance of polyester fiber. This
growing trend has a direct impact on the sector, leading to an increased demand
for MEG (monoethylene glycol). Consequently, the global glycol market is being
propelled forward by this surge in demand, creating new opportunities for
manufacturers and suppliers in the industry.
The Global Glycol Market is segmented into product,
application, regional distribution, and company.
Based on its product, the ethylene glycol segment held
the largest market share in the forecast period. Ethylene glycol, a versatile
compound, is extensively employed as an antifreeze, coolant, and
heat-transferring agent. Its remarkable ability to lower the freezing point of
fluids makes it an indispensable component in various applications. Not only
does it serve as a reagent in the production of polyesters, alkyd resins,
synthetic waxes, and explosives, but it also finds usage in printing inks,
paint solvents, and hydraulic fluids. The ethylene-based glycols, with their
wide-ranging applications, play a crucial role in multiple industries,
contributing to their efficiency and performance.
Based on region, Asia Pacific segment is expected to
grow during the forecast period.
In recent years, the market has experienced a
noteworthy shift in the production landscape, particularly towards Asian
countries. Among these countries, China has emerged as a prominent
manufacturing hub, both regionally and globally. Surprisingly, when considering
the total global demand, these combined regions accounted for nearly 50.0% of
the market share. This significant development has reshaped the dynamics of the
global manufacturing industry, with Asia, and specifically China, playing a
pivotal role in meeting the growing demands of various sectors.
Major companies operating in Global Glycol Market are:
·
The Dow Chemical Company
·
LyondellBasell Industries N.V.
·
BASF SE
·
Archer-Daniels-Midland Co
·
Global Bio-chem Technology Group Company Limited
·
DuPont Tate & Lyle Bio Products
·
SKC Co Ltd
·
Temix Oleo Srl
·
INEOS Oxide Ltd
·
Huntsman International LLC
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“With the aim of reducing environmental impact and
promoting sustainability, there is a growing focus on glycol recycling and
recovery. Manufacturers and end-users are exploring recycling technologies to
recover glycols from waste streams and incorporate recycled glycols into their
processes.,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Global Glycol Market By Product
(Ethylene Glycol, Propylene Glycol, Others), By Application (Automotive,
HVAC, Textiles, Airlines, Medical, Pipeline Maintenance, Polyester Fibers and
Resins, Food and Beverage, Others), By
Region, By Competition Forecast & Opportunities, 2019-2029”, has evaluated
the future growth potential of Global Glycol Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Glycol Market.
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