The report on Tri-ethylene Glycol Market by application(natural gas dehydration,
solvents, plasticizers, polyurethanes, humectants, polyester resins) trends
analysis and forecasts up to 2023 studies the market sizes, key trends and
opportunities in the main geographies such as North America, Europe,
Asia-Pacific, Rest of the World. According to the report the Global
Tri-ethylene Glycol Market is projected to grow with a CAGR between 4.5% and
5.0% in terms of value over the period of 2017-2023. The growth in the world
market is primarily driven by significant contribution by North America
(Leading region) region to this market.
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Market Insights
The
global tri-ethylene glycol market was sized over USD XX billion in 2015. The
global tri-ethylene glycol market is projected to grow with a CAGR between 4.5%
and 5.0% during 2017-2023 and reach USD XX billion by 2023. Growing natural gas
production and increasing demand for plasticizers are considered to be the key
factor driving the global tri-ethylene glycol market over the forecast period.
Furthermore, increasing use of tri-ethylene glycol to produce variety of
products for industrial and commercial use such as solvents, adhesives &
coatings, lubricants, polyurethane foams, emulsifiers and thermoplastics are
also driving the global tri-ethylene glycol market significantly. Moreover,
growing use of tri-ethylene glycol due its hygroscopic nature in air conditioning
systems and dehydration of natural gas will also drive the tri-ethylene glycol
market globally over the forecast period. However, volatility in the prices of
crude oil consider to be the primary raw material for the production of TEG and
unfavorable regulations related to manufacture and application of TEG will
restrain the growth of this market over the forecast period. Hence, increasing
oil & gas exploration activities and rapid industrialization in emerging
economies will bring more opportunities to the global tri-ethylene glycol
market over the forecast period.
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Segments Covered:
The
report segments the tri-ethylene glycol market by application and by region.
Market segmentation based on application includes natural gas dehydration,
solvents, plasticizers, polyurethanes, humectants, polyester resins and others.
Natural gas dehydration segment is likely to continue its dominance and is also
expected to grow at the highest CAGR over the forecast period due to high
consumption of TEG in natural gas dehydration from developed nations.
Geographic
Coverage and Analysis:
The
report provides regional analysis covering geographies such as North America,
Europe, Asia-Pacific, Latin America and Rest of the World. In this section the
key trends and market size for each geography is provided over the period of
2017 – 2023.
Asia
Pacific is accounted to be the largest market owing more than 50 % of global
TEG volume share in 2015 and it is expected to grow at a highest CAGR rate due
to growing chemical industry as well as automotive industry especially in India
and China. Furthermore, increasing use of gas and high technical recoverable
shale gas deposits in India, China, South Korea and Japan with favorable
government regulations will bring more opportunities for the global
tri-ethylene glycol market in Asia Pacific region. Moreover, North America is
the second largest market region due to increasing natural gas production
coupled with growing trend for natural gas based power plants. Furthermore, in
RoW region Middle East such as Saudi Arabia, Qatar, and Iran are also anticipated
to grow at a strong CAGR rate due to presence of immense natural gas reserves
in these countries. In addition, owing to abundance feedstock and easy
accessibility to end use industries are also favoring the growth of TEG market
in this region over the forecast period.
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Companies
Profiled:
The companies covered in the report
include SABIC, Reliance Industries Ltd, LyondellBasell, Eastman Chemicals,
ExxonMobil, The Dow Chemical Company, Sinopec, China Petroleum & Chemical
Corporation, Clariant, INEOS Group Ltd, Royal Dutch Shell, BASF, Huntsman
Corporation, Indorama Venture and Formosa Plastics.
Report
Highlights:
The report provides deep insights on
demand forecasts, market trends and micro and macro indicators. In addition,
this report provides insights on the factors that are driving and restraining
the demand of Tri-ethylene Glycol globally as well as regionally. Moreover,
IGR-Growth Matrix analysis given in the report brings an insight on the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter’s five
forces analysis and value chain analysis of tri-ethylene glycol.
Moreover, the study highlights current
market trends and provides forecast from 2017 to 2023. We also have highlighted
future trends in the tri-ethylene glycol market that will impact the demand
during the forecast period. Moreover, the competitive analysis given in each
regional market brings an insight on the market share of the leading players.
Additionally, the analysis highlights rise and fall in the market shares of the
key players in the market. This report will help manufacturers, suppliers and
distributors of the tri-ethylene glycol market to understand the present and
future trends in this market and formulate their strategies accordingly.
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