The global glycol market to grow at a CAGR of 6.48% during the period 2017-2021.
Global Glycol market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Trend of bio-based glycols. The demand for bio-based glycols is expected to grow at a CAGR of above 8% during the forecast period. As various governments are taking initiatives toward mitigating environmental concerns, they are utilizing non-perishable resources. Many initiatives have been taken toward the release of hazardous petrochemical process pollutants during the various production process. These initiatives are expected to raise the demand for bio-based products that includes bio-based glycols.
According to the report, one of the major drivers for this market is Growing consumption in automobiles. Glycols are used as an important anti-freezing agent in automobiles. It lowers the freezing point of a water-based liquid and increases its boiling point when mixed with water. Once glycol is added to water, its freezing temperature goes down below 32 Fahrenheit. Thus, it is also known as engine coolant.
Further, the report states that one of the major factors hindering the growth of this market is Volatile petrochemical prices. Polyethylene is mainly derived from crude oil. It can also be extracted from natural gas and coal. The prices of crude oil, polyethylene, and ethylene are inter-dependent. Crude oil prices across the globe fluctuate according to the varying market demand. Fluctuations in oil prices affect the price of ethylene. So, when the crude oil prices are high, polyethylene producers use natural gas in the place of crude oil to produce ethylene to increase their profit margin. Thus, even though there might be a weak co-relation between crude oil prices and polyethylene, t ethylene prices are still dependent on prices of crude oil.
Akzo Nobel BASF SABIC Shell The Dow Chemical Company
Other prominent vendors
DuPont HaiKe Chemical Group Huntsman International India Glycols Limited INEOS ME Global Repsol Reliance Industries
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Sizing
Part 07: Five Forces Analysis
Part 08: Market Segmentation By Application
Part 09: Regional Landscape
Part 10: Decision Framework
Part 11: Drivers And Challenges
Part 12: Market Trends