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Ethylene Glycols Market - Key Players, Growth Rate and Forecasts to 2020

Growing demand for polyethylene terephthalate (PET) for packaging applications, primarily in Asia Pacific and Latin America is expected to remain a key driving factor for the market. The Global Ethylene Glycol Market is expected to reach USD 33.36 billion by 2020, according to a new study by Grand View Research, Inc.

In addition, growth from global textiles industry is also expected to support the ethylene glycol market development over the forecast period. Volatile prices and tight supply of raw materials, on account of frequent fluctuations in crude oil prices is expected to inhibit the market growth over the next six years.

Monoethylene glycol (MEG) emerged as the leading product segment and accounted for 89.9% of total market volume in 2013. MEG in addition to being the largest product segment is also expected to be the fastest growing ethylene glycol at an estimated CAGR of 4.8% from 2014 to 2020.

MEG is mainly used for manufacturing PET and growth of global beverages market is expected to drive the demand for MEG over the forecast period. Global market for di-ethylene glycol (DEG) is expected to reach USD 337.1 million by 2020.

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PET emerged as the leading application market for ethylene glycols and accounted for 44.2% of total market volume in 2013. Growth of beverages industry mainly in Asia Pacific and Latin America is expected to drive this market over the next six years. Polyester fibers are expected to be the fastest growing market for ethylene glycols at an estimated CAGR of 5.1% from 2014 to 2020.

Top Players of Ethylene Glycols Market:

The Global Ethylene Glycol Market is fairly concentrated with top four companies operating in the market including SABIC, Dow Chemical Company, Sinopec and Shell Chemical accounted for over 50% of total market in 2013. Other companies operating in the market include Formosa Plastics Group, Honam Petrochemicals and Ineos.

Market Segmentation of Ethylene Glycols Market:

The Global Ethylene Glycol Market segmented on the basis of Product, Application and Region.

By Product:

    Monoethylene Glycol (MEG)
    Diethylene Glycol (DEG)
    Triethylene Glycol (TEG)

By Application:

    PET
    Polyester Fibers
    Antifreeze
    Films

By Region:

    North America
    Europe
    Asia Pacific
    RoW

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