Triethylene Glycol Market Analysis | 2022-2027

Triethylene Glycol Market Analysis | 2022-2027

Triethylene Glycol Market Analysis | 2022-2027
Report code - SR2107 Delivery - 2 Weeks
Triethylene Glycol Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth O See more...

"The Triethylene Glycol Market is expected to grow at a decent CAGR of 3.7% during the forecast period".

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Market Dynamics

Introduction

Triethylene glycol, or TEG, is a colorless, viscous, non-volatile liquid with the formula C6H14O4. It is completely miscible with water and other liquids.  The product possesses properties that are almost similar to those of other glycol compounds. It is preferred over diethylene glycol in applications requiring a high boiling point and low volatility.

Market Drivers

The increasing demand for natural gas from various end-use industries such as power generation, transportation, and domestic applications is expected to drive the recovery and growth of the triethylene glycol market during the forecast period. Furthermore, the demand for clean alternative transportation fuels, paired with the growing importance of renewable energy sources, will likely accelerate the market growth.

Also, the increasing application scope of plasticizers in automotive, construction, and synthetic rubber production is expected to bolster increased usage of the product. 

COVID-19 Impact

The triethylene glycol market was impacted by the pandemic. Industry stakeholders suffered due to temporary production shutdowns, supply chain disruptions, cash flow constraints, and lockdowns. As a result, the demand for triethylene glycol decreased in 2020.

Segments Analysis

Segmentations

List of Sub-Segments

Dominant and Fastest-Growing Segments

Application-Type Analysis

Natural Gas Dehydration, Solvents, Plasticizers, Polyurethanes, Humectants, Polyester Resins, and Others

Natural gas dehydration is likely to remain the dominant segment during the forecast period.

Regional Analysis

North America, Europe, Asia-Pacific, and Rest of the World

Asia Pacific held the highest market share in 2020 and is projected to grow at a healthy CAGR during the forecast period.

 

By Application Type

“Natural gas dehydration is likely to remain the dominant segment during the forecast period”.

The market is segmented as natural gas dehydration, solvents, plasticizers, polyurethanes, humectants, polyester resins, and others. Natural gas dehydration is likely to remain the dominant segment during the forecast period.

This growth can be attributed to the increasing production of natural gas and recent advancements in the industry. Triethylene glycol is also used to produce a variety of products for industrial and commercial applications such as solvents, adhesives & coatings, lubricants, polyurethane foams, emulsifiers, and thermoplastics.

Regional Analysis

“Asia-Pacific will remain the largest market, with North America expected to see the highest CAGR during the forecast period”.

The market is broken down geographically into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of regions, Asia-Pacific is expected to remain the largest market for triethylene glycol over the forecast period. Rising government spending on natural gas exploration projects in China and India is driving the growth of the region’s market.

Also, North America is estimated to grow at the highest CAGR during the forecast period due to a surge in natural gas production and a growing trend for natural gas-based power plants in the U.S. and Canada.

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Key Players

Most of companies are deploying various strategies regarding product development & differentiation, pricing, branding, technology, and customized products to gain a competitive advantage. 

The following are the key players in the Triethylene Glycol Market (arranged alphabetically)

  • Huntsman Corporation
  • Indorama Venture
  • LyondellBasell Industries N.V.
  • SABIC
  • Sinopec

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Key questions this report answers

Relevant contents in the report

How big is the sales opportunity?

In-depth Analysis of the Triethylene Glycol Market 

How lucrative is the future?

The market forecast and trend data and emerging trends

Which regions offer the best sales opportunities?

Global, regional, and country-level historical data and forecasts

Which are the most attractive market segments?

Market segment analysis and Forecast

Which are the top players and their market positioning?

Competitive landscape analysis, Market share analysis

How complex is the business environment?

Porter’s five forces analysis, PEST analysis, Life cycle analysis

What are the factors affecting the market?

Drivers & challenges

Will I get the information on my specific requirement?

10% free customization

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

  • Detailed profiling of additional market players (up to three players)
  • SWOT analysis of key players (up to three players)

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research:

Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

Frequently Asked Questions (FAQs)

The triethylene glycol market is likely to witness an impressive CAGR of 3.7% during the forecast period.

Factors such as increasing demand for natural gas from various end-use industries such as power generation, transportation, and domestic applications and rising demand for clean alternative transportation fuels are expected to drive the growth of the market in the coming five years.

Asia-Pacific is estimated to be dominant in the market in the coming years. Rising government spending on natural gas exploration projects in China and India is expected to drive the market dynamics.

North America is estimated to be the fastest-growing region in the coming years due to a surge in natural gas production and a growing trend for natural gas-based power plants in the U.S. and Canada.

Natural gas dehydration is likely to maintain its dominance in the market over the next five years. This growth can be attributed to the increasing production of natural gas and recent advancements in the industry.

Huntsman Corporation, Sinopec, LyondellBasell Industries N.V., SABIC, Indorama Venture, Clariant AG, ExxonMobil Corporation, LOTTE Chemical, Ineos Group Ltd, Reliance Industries Limited are some of the key players in the market.

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