Global Triethylene Glycol (TEG) Market
is expected to reach USD 718.3 million by 2022, according to a new study by
Grand View Research, Inc. Increasing natural gas output is expected to be one
of the key factors driving TEG demand over the forecast period. Rise in gas
production is expected to have a two-fold impact on the TEG market providing
abundant feedstock for TEG manufacture on the supply side and utilizing TEG for
gas de-hydration on the demand side. Aforementioned factor is anticipated to
augment market growth over the forecast period.
Use of TEG in natural
gas dehydration accounted for over 55% of global TEG volume in 2014. The
segment is also expected to witness fastest growth at an estimated CAGR of over
3.5% from 2015 to 2022. High consumption of TEG in natural gas dehydration can
be attributed to growing demand from developed nations including Japan, U.S.,
EU, Russia and Qatar. Moreover, improving infrastructure for gas import,
transport and utilization in emerging economies such as China, India and Brazil
is likely to fuel TEG market over the forecast period. Positive gas industry
outlook on account of policies favoring use of gas as a cleaner fuel is
anticipated to assist market growth over the next seven years.
Growing chemical
industry coupled with expanding end-use industries such as automotive industry
especially in India and China is expected to boost demand for TEG in solvent
and plasticizer applications. Increasing application scope of molded plastics
and rubber is expected to result in increasing utilization of TEG over the
forecast period.
Browse full report by Grand View
Research : http://www.grandviewresearch.com/industry-analysis/triethylene-glycol-market
Further key findings from the study suggest:
·
Asia Pacific was the largest market
accounting for over 45% of global TEG volume share in 2014. Increasing use of
gas as a fuel source in China, India, South Korea and Japan is expected to
result in increased demand for TEG in the region. In addition, High technically
recoverable shale gas deposits in China coupled with favorable government
regulations in the country is expected to augment market demand over the next
seven years.
·
Development of Asia Pacific and Middle East
as refining hubs is anticipated to favor the TEG industry growth owing to
abundance of feedstock and easy accessibility to end-use industries over the
projected period.
·
Russia was the largest consumer of TEG in
Europe as it is one of the largest producer and supplier of natural gas.
Gazprom being the major gas producer in Russia was one of the largest consumers
of TEG in 2014.
·
Key market participants include
LyondellBasell, ExxonMobil, E.I. duPont de Nemours & Company, Honeywell
International Inc. and 3M, Honam Petrochemical Corporation, Ineos, SABIC,
Shell, Reliance Industries Ltd. and Clariant.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
For the purpose of this
study, Grand View Research has segmented the global TEG market on the basis of
application and region:
Global TEG Application Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2012 - 2022)
·
Natural gas dehydration
·
Solvents
·
Plasticizers
·
Polyurethanes
·
Humectants
·
Polyester Resins
·
Others
Global TEG Regional Outlook (Volume, Kilo Tons; Revenue,
USD Million, 2012 - 2022)
·
North America
o U.S.
·
Europe
o Germany
·
Asia Pacific
o China
o India
·
Latin America
·
Middle East and Africa
o Saudi
Arabia
View
Press Release of this research report by Grand View Research : http://www.grandviewresearch.com/press-release/global-teg-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For
More Information: www.grandviewresearch.com
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