Ethylene Glycol Market Application (Polyester fibers, PET resins, automotive antifreeze, and others) & Geography — Global Trends & Forecasts to 2019
"The global ethylene glycol market was valued at $25,468.7 million in 2014 and is projected to reach $33,514.1 million by 2019, at a CAGR of 5.6% during the forecast period. The market, by consumption, was led by polyester fibers in 2014, with 57.2% share. It is projected to reach a volume of 19,677.4 KT, at a CAGR of 6.1% from 2014 to 2019. Asia-Pacific is a key market for ethylene glycol market globally."
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Ethylene glycol is an organic compound which has various applications across industries. It is used as a raw material in the production of a wide range of products including polyester fibers for clothes, upholstery, carpet and pillows; fiberglass used in products such as jet skis, bathtubs, and bowling balls; and polyethylene terephthalate resin used in packaging film and bottles. Many of these products are energy saving and cost efficient as well as recyclable.
The major hurdle which is currently inhibiting the growth of the market is high volatility in the prices of crude oil. With crude oil prices moving upwards, the price trends are expected to reflect in the ethylene prices which is an important raw material for ethylene oxide and ethylene glycol production. The crude oil price volatility is expected to reflect in the prices of EG. The uptrend in EG prices is likely to prompt EG producers to increase their prices and pass the burden of rising feedstock costs to the buyers that could hamper the market.
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The market for ethylene glycol (EG) is being driven by strong demand in the downstream applications and end-user markets, especially polyester fibers and PET resin which are extensively used in textile and food and beverage industries. Ethylene glycol-based polyester fibers are broadly used in the textile industry. Fabrics made from polyester are extensively used in apparel and home furnishings, bed sheets, blankets, upholstered furniture, and computer mouse mats. Industrial polyester fibers are used in tire reinforcements, safety belts, coated fabrics, fabrics for conveyer belts, and so on. PET resin is widely employed in manufacturing bottles and containers that are used in the food and beverage industry.
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The major hurdle which is currently inhibiting the growth of the market is high volatility in the prices of crude oil. With crude oil prices moving upwards, the price trends are expected to reflect in the ethylene prices which is an important raw material for ethylene oxide and ethylene glycol production. The crude oil price volatility is expected to reflect in the prices of EG. The uptrend in EG prices is likely to prompt EG producers to increase their prices and pass the burden of rising feedstock costs to the buyers that could hamper the market.
Download Report Sample For More Information - http://www.micromarketmonitor.com/contact/5421026714-download_pdf_brochure.html
The market for ethylene glycol (EG) is being driven by strong demand in the downstream applications and end-user markets, especially polyester fibers and PET resin which are extensively used in textile and food and beverage industries. Ethylene glycol-based polyester fibers are broadly used in the textile industry. Fabrics made from polyester are extensively used in apparel and home furnishings, bed sheets, blankets, upholstered furniture, and computer mouse mats. Industrial polyester fibers are used in tire reinforcements, safety belts, coated fabrics, fabrics for conveyer belts, and so on. PET resin is widely employed in manufacturing bottles and containers that are used in the food and beverage industry.
Scope of the report:
This research report categorizes the global market for ethylene glycol on the basis of applications, end-user industries, and geography along with forecasting volume, value, and analyzing trends in each of the submarkets.
On the basis of applications:
- Polyester fibers
- PET resins
- Automotive and antifreeze
- Others
Each application is described in detail in the report with volume and revenue forecasts for each application.
On the basis of geography:
- Asia-Pacific
- North America
- Europe
- RoW
The market is further analyzed for key countries in each of these regions.
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