Increasing natural gas manufacturing and rising demand for plasticizers are considered to be the main factor which drives the global tri-ethylene glycol market throughout the forecast period.
Additionally, rising use of tri-ethylene glycol to make variety of Applications for industrial and commercial use like emulsifiers, adhesives & coatings, thermoplastics, solvents, polyurethane foams, and lubricants are also amplifying the global tri-ethylene glycol market significantly. Furthermore, increasing utilization of tri-ethylene glycol due its hygroscopic in nature, in air conditioning systems and dehydration of natural gas will also drive the tri-ethylene glycol market globally throughout the predicted period. Though, volatility in the prices of crude oil consider to be the
key raw material for the manufacturing of TEG and harsh regulations associated to production and End User Industry of TEG will hamper the growth of the market throughout the forecast period.
Therefore, rising oil & gas exploration activities and prompt industrialization in developing economies will bring more opportunities to the global tri-ethylene glycol market during the predicted period.
The Application segment is expected to grow at the highest XX% CAGR during the forecast period.
Natural gas dehydration segment is projected to continue its dominance and is also anticipated to grow at the XX% CAGR during forecast period due to high utilization of TEG in developed nations for natural gas dehydration. Also, Personal Care and Detergents segments increasingly held the XX% share of the global market in 2018. Because of Triethylene Glycol find their uses in different applications in the household cleaners and personal care products.
Asia Pacific is expected to witness the fastest growth during the forecast period.
Asia Pacific led the market in 2018, In terms of value. The market in Asia Pacific is anticipated to increase promptly throughout the projection period. China register for around XX% of consumption of ethylene oxide and its derivatives in Asia-Pacific region. China is the major market in terms of manufacturing and utilization of triethylene glycol in the Asia-Pacific region. Triethylene glycol is utilized in the automotive industry, like friction modifiers, additives in lubricants and fuels as anti-freezing agent, and coolant. Triethylene glycol has an exclusive utilization in the manufacturing of insecticides and pesticides in the agricultural sector.
China has the highest agricultural output globally, through its XX% of total land for cultivation. Additionally, North America is the second largest market region due to rising natural gas production coupled with increasing trend for natural gas based power plants. Also, in RoW region Middle East such as Saudi Arabia, Qatar, and Iran are also expected to grow at a XX% CAGR due to existence of immense natural gas reserves in these countries. Similarly, abundance feedstock and easy accessibility to end use industries are also favoring the growth of TEG market in this region during the forecast period.
Key players operating in the Triethylene Glycol (TEG) Market are 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.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Triethylene Glycol (TEG) Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Triethylene Glycol (TEG) Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global Triethylene Glycol (TEG) Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Triethylene Glycol (TEG) Market”
MAXIMIZE MARKET RESEARCH PVT. LTD.
ManikBaug, Vadgaon Bk,
Sinhagad Road, Pune – 411051, Maharashtra, India.
The post Triethylene Glycol (TEG) Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of around 4.7% during a forecast period. appeared first on MAXIMIZE MARKET RESEARCH.