DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Ethylene Oxide and Ethylene Glycol Market 2016-2020" report to their offering.
The global ethylene oxide and ethylene glycol market to grow at a CAGR of 5.82% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global ethylene oxide and ethylene glycol market for 2016-2020. To calculate the market size, the report considers the revenue generated from several applications of ethylene oxide and ethylene glycol in different end-user segments. The report also includes a discussion of the key vendors operating in this market.
Ethylene oxide is a chemically reactive material. It is used for manufacturing ethylene glycols, glycol ethers, ethanolamines, surface-active agents, and polyether polyols. Ethylene glycol is a clear, viscous, versatile organic compound that is a hydroscopic liquid at room temperature. It is used in the manufacture of polyester films, fibers and PET resins, and antifreeze agent for water-based coolants.
According to the report, growing demand for antifreeze agents in automobile sector will be a driver leading to market growth. Increasing industrialization, development of infrastructure, and changing lifestyles in emerging economies are increasing the demand for antifreeze agents in the market. The antifreeze agents market in India is anticipated to grow at 6% over the forecast period due to the growth in the automobile and oil sectors. The global automotive antifreeze agents market is projected to post a CAGR of 6.19% between 2015 and 2020 to reach $720 million in 2020.
Further, the report states that shortage of raw materials will be a challenge for the market. Natural gas and crude oil are the prime raw materials for the production of ethylene glycol. Their availability and supply are crucial for the smooth production of ethylene glycol products. The market is facing a shortage of raw materials, which will affect the demand and supply of ethylene glycol in the market. This is due to constant fluctuations in the prices of crude oil, which is essential in the production of ethylene glycol.
Other prominent vendors
- Farsa Chemical
- Formosa Plastics
- Ineos Oxide
- LyondellBasell Industries
- Reliance Industries
For more information visit http://www.researchandmarkets.com/research/vb8nzn/global_ethylene