The worldwide ethylene glycols market is estimated to achieve more than USD 33 billion by 2020. The market conditions of ethylene oxide and ethylene glycol have improved. This is owing to sturdy requirements of the downstream uses of ethylene oxide and ethylene glycol. Demand for the client applications of ethylene glycol and ethylene oxide has increased. These applications are polyethylene terephthalate (PET) resins and polyester fibers.
Analysis of the ethylene glycols market brings to the fore the major drivers of the market and prospects, winning fundamentals, important issues, regulations and difficulties in the same. Also, the increasing requirement of PET for packaging purposes, particularly in Latin America and Asia Pacific will act as an important element, pushing the ethylene glycols market forward.
The volume of the ethylene glycols market across the globe was more than 16, 500 kilotons in 2013. It will become more than 22, 800 kilotons by 2020 and grow from 2014 to 2020, at a CAGR of almost 5 percent.
Regional Overview The ethylene glycols market is divided on the basis of some geographical regions. These are Europe, North America, Asia Pacific and the ÂÂrest of the world.ÂÂ The regions also include India and China. The maximum number of consumers for ethylene glycol in 2013 was Asia Pacific.
Asia Pacific made up for more than 65 percent of the total volume of the market in 2013. Besides being the biggest market, it will also expand most rapidly for ethylene glycols, from 2014 to 2020, at CAGR of almost 5 percent.
This is due to the regionÂÂs rising automotive and fabric industries. The consumption of ethylene glycols by the region, ÂÂrest of the worldÂÂ made up for the lowest share of volume of around 7 percent.
The ethylene glycols market conditions of Europe and North America have met their point of saturation and will expand at moderately lower rates over the forecast period.
Monoethylene glycol, or MEG, as it is also referred to, was the product sector which dominated the ethylene glycols market in 2013. It made up for around 90 percent of the total volume of the market in 2013 and will also be the most rapidly expanding sector, from 2014 to 2020, at a CAGR of more than 4 percent.
MEG is mainly used for making PET. Improvement in the market conditions of global beverages will increase the demand for MEG over the forecast period. MEG will also be the sector, generating the highest income, from 2014 to 2020, at a CAGR of around 5 percent. The worldwide market for di-ethylene glycol (DEG) will reach more than USD 335 million by 2020.
PET rose as the application, leading the market for ethylene glycols and made up for more than 44 percent of the total volume in 2013.
Expansion of the industry of beverages, mainly in Latin America and Asia Pacific will take the ethylene glycols market ahead in future.
Polyester fibers will be the most rapidly expanding market for ethylene glycols, from 2014 to 2020, at a CAGR of more than 5 percent. For more information on the ethylene glycols market, the link http://www.grandviewresearch.com/industry-analysis/ethylene-glycols-industry can be referred to, as and when needed.