Triethylene Glycol (TEG) Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2027, at a 4.7% CAGR during a forecast period.
Tri-ethylene glycol is a non-volatile, odorless, colorless, and hygroscopic liquid. Ethylene glycol is synthesized by oxidation of ethylene at high temperature in the existence of silver oxide as catalyst, after the formation of ethylene oxide, then it hydrated and produces mono, di and tri-ethylene glycol. Tri-ethylene glycol is used form manufacturing of vinyl plasticizer, as intermediate in the manufacture of polyols and polyester resins, and as a solvent in various End User Industry’s. Furthermore, Triethylene glycol is also used for moisture elimination in air conditioning systems End User Industry’s. The key role of Triethylene glycol in the petroleum industry makes it an essential Application to assess, with regard to its market at a global level.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
The scope of the report includes a comprehensive study of global as well as regional markets for Triethylene Glycol (TEG) with the rationales given for variants in the growth of the industry in certain regions.
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 to 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. Developed countries Like U.S., Spain, Japan, Germany, U.K., France, Russia, Italy & Qatar, in recent times have been concentrating on amplified use of natural gas through promising import & export policies, development of transport infrastructure & efficient utilization, thereby producing a strong potential for the triethylene glycol market at a global level in the forecast period. Similarly, new and favorable policies promising gas use as a clean fuel is anticipated to positively impact the growth rate of the triethylene glycol market.
In Triethylene Glycol (TEG) Market report, the Application segment comprises Natural Gas Dehydration, Solvents, Plasticizers, Polyurethane, Humectants, Polyester Resins, and Others. 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. The End User Industry segment is comprises Automotive, Agrochemicals, Food and Beverage, Textile, Personal Care, Pharmaceuticals, Detergents, and Others. 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.
Based on regional segment, the Triethylene Glycol (TEG) Market is sub-segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. 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.
The report covers the market leaders, followers and new entrants in the industry with the market dynamics by region. It will also help to understand the position of each player in the market by region, by segment with their expansion plans, R&D expenditure and organic & in-organic growth strategies. Long term association, strategic alliances, supply chain agreement and M&A activities are covered in the report in detail from 2014 to 2019. Expected alliances and agreement in forecast period will give future course of action in the market to the readers. More than ten companies are profiled, benchmarked in the report on different parameters that will help reader to gain insight about the market in minimum time.
The objective of the report is to present a comprehensive analysis of the Triethylene Glycol (TEG) Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by Region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Triethylene Glycol (TEG) Market dynamics, structure by analyzing the market segments and project the Triethylene Glycol (TEG) Market size. Clear representation of competitive analysis of key players by End User Industry, price, financial position, Application portfolio, growth strategies, and regional presence in the Triethylene Glycol (TEG) Market make the report investor’s guide.
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Scope of the Triethylene Glycol (TEG) Market
Triethylene Glycol (TEG) Market, By Application
• Natural Gas Dehydration
• Solvents
• Plasticizers
• Polyurethane
• Humectants
• Polyester Resins
• Others
Triethylene Glycol (TEG) Market, By End User Industry
• Automotive
• Agrochemicals
• Food and Beverage
• Textile
• Personal Care
• Pharmaceuticals
• Detergents
• Others
Triethylene Glycol (TEG) Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Triethylene Glycol (TEG) Market
• 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
• Formosa Plastics
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