LONDON--(BUSINESS WIRE)--The global ethylene glycol market is expected to post a CAGR of almost 4% during 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The furniture industry is increasingly adopting polyester fibers as a cushioning material in comforters, pillows, and upholstery padding. Ethylene glycol is used for the production of polyester fibers. The growing demand for polyester fibers and films for various textiles and industrial applications will increase the need for ethylene glycol. These factors will drive the growth of the global market.
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As per Technavio, the introduction of novel production technology for ethylene glycol, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global Ethylene Glycol Market: Introduction of Novel Production Technology for Ethylene Glycol
The new coal to ethylene glycol (CtEG) technology involves the production of ethylene glycol from coal. CtEG is far more economical than production from naphtha. The increasing awareness and commercialization of this novel technology pertaining to ethylene glycol production is expected to boost the growth of the market.
“Growing demand for bio-based ethylene glycol and increase in production of natural gas in the US are other factors that are expected to boost market growth over the forecast period,” says a senior analyst at Technavio.
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Global Ethylene Glycol Market: Segmentation Analysis
This market research report segments the global ethylene glycol market by application (polyester fiber and films, PET, antifreeze and coolant, and others) and geographical regions (North America, Europe, APAC, South America, and MEA).
APAC region led the market in 2018, followed by North America, Europe, MEA, and South America, respectively. During the forecast period, APAC region is expected to maintain its dominance over the global market and register the highest incremental growth. This is due to the increasing demand for ethylene glycol from various end-user industries such as coating, packaging, automobile, and textile industries in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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