New York City, 29 January 2019: The global Glycols Market generated USD 49.36 billion in 2017 and is anticipated to grow at a CAGR
of 5.1% during the forecast period.
Glycol application areas have
grown extensively in the past few years owing to innovation of customer
specific and high-grade products. Its demand is expected to further increase
over the forecast years.
These products especially the ethylene ones are stable chemicals,
non-corrosive, that have relatively higher flash points. Propylene glycols are
considered relatively nontoxic liquids which are colorless and odorless. Few of
the products major application segments include paints, coatings, heat transfer
fluids, functional fluids, antifreeze coolants and also plasticizers.
It is a significant conditioning agent for cork, tiles of vinyl
flooring, cellulose sponges, adhesives, printing inks, paper products and
synthetic rubber, this is owing to product’s hygroscopicity. Ethylene glycols
are utilized for development of formulations for alkyd resin types, which have
structures identical to linear chains and are also used in polyester resins
mainly the unsaturated ones.
Reactivity and solubility of glycols offers basics for several
different applications. The product is mainly used as an antifreeze solution in
various end-use industries, that is mainly dependent on its low freezing point
on mixing with water. Being a petrochemical feedstock, it is often exposed to
situations of price volatility mainly owing to an unbalanced demand supply
scenario. This highly influence its prices and it differs from one region to
the other.
In several countries in the European
region, mono-ethylene glycol prices were higher in the first quarter of 2017
than the other regional prices. However, owing to constant demand from several
end use segments, the suppliers were able to maintain product supply in line
with expectations of the market.
Several MEG buyers in Europe denied to
support the increase in price ranges and this situation had an influencing
positive impact on the APAC regional market and comparatively lower prices in the
region attracted several new foreign buyers.
These gains for the APAC industry was
mainly owing to higher than expected macroeconomic performances, primarily from
the Chinese market. Polyester manufacturing which is the largest end-use sector
for glycol consumption has been the largest in terms of production rates and
also sales. This resulted a significant boost in the APAC market and rise in
MEG values.
Competitive
Landscape and Key Vendors
In 2017, Asia Pacific region was
the largest industry in terms of consumption. But, the market also faced
several challenges and created situation such as decrease in long term supply
deals and it eventually affected the market growth in the downstream PET,
polyester yarn and fiber segments.
The global market is competitive in
nature with fair amount of integration among several components in the value
chain. Some of the leading companies include ExxonMobil Corporation, Saudi
Basic Industries Corporation (SABIC), Dow Dupont, Royal Dutch Shell plc,
LyondellBasell Industries, Total S.A., and China Petroleum & Chemical
Corporation.
Read More: https://www.polarismarketresearch.com/industry-analysis/glycols-market/
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