LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global glycol market report. This research report also lists eight other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
The global glycol market is expected to move at a CAGR of over 6% during the forecast period because of its high demand for heating and cooling systems. The demand from APAC is expected to be the highest, among all other geographic segmentation. The demand in this region is due to the growing polyester fiber production for the manufacturing of textiles, in countries such as China; Indonesia; India; Vietnam; and Thailand.
The global glycol market has many global and local vendors present. The parent market for glycol is the global ethylene market. The market under study holds around 33.26% of the parent market. The key vendors in the global glycol market are Akzo Nobel, BASF, SABIC, Shell, and The Dow Chemical Company. These players have a vast geographical presence with huge production facilities across the globe.
“The market is highly competitive. The key factors influencing the competitive edge are price, quality, and distribution network of vendors. The manufacturers use various strategies to strengthen and restructure their activities. They also try to maintain their leading position by executing newer technologies and by raising their profit margins,” says Kurva Samba Sivudu, a lead plastic, polymers, and elastomers research analyst from Technavio.
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Top five glycol market vendors
The product under research falls under the specialty chemicals business segment of Akzo Nobel. It offers mono-ethylene glycols and a vast range of ethylene amines, ethanolamine, and glycols. The glycol produced by Akzo Nobel is miscible in water, alcohols, aldehydes, ketones, and esters. It is extremely hygroscopic in nature.
BASF manufactures ethylene and propylene glycols. Its ethylene glycols are used to produce PET bottles as well as polyester fibers and resins for functional sports and casual wear. They are also used as engine coolants and lubricants in the automotive industry. Propylene glycol is mainly used as antifreeze agent in refrigerators and sprinkler systems. It is also used as solvents and humectants for printing colors and ink-pads.
SABIC manufactures mono ethylene glycol, diethylene glycol, and tri-ethylene glycol. Its mono-ethylene glycol is miscible with water; alcohols; and aldehydes, but it cannot dissolve in rubber; cellulose acetate; or heavy vegetable and petroleum oils. The boiling point, viscosity, and specific gravity of diethylene glycol are much higher than mono-ethylene glycol. Thus, it is characterized by greater solvent power.
Shell manufactures both ethylene and propylene glycols. Ethylene glycols produced by Shell are colorless and odorless liquids. They are low in viscosities and high in boiling points. Polyethylene glycol is highly hygroscopic. It is easily miscible with water, alcohols, esters, ketones, and amines. It is mainly used in the production of unsaturated polyester resins, which are used to manufacture bathtubs; small boats; and water/chemical tanks; pipes; and various other everyday items.
The Dow Chemical Company
The glycols produced by The Dow Chemical Company are used as versatile intermediates in various applications such as polyester textiles, consumer packaging and beverage bottles, and aircraft de-icing fluids. It markets its products under the brand names: DOWTHERM, DOWFROST, and DOWCAL.
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