Market Insights
Triethylene glycol, or TEG, is a colourless, viscous, non-volatile liquid with the formula C6H14O4. It is completely miscible with water and other liquids. The product possesses almost similar properties like other glycol compounds. It is preferred over diethylene glycol in applications requiring a high boiling point and low volatility.
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.
However, 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 is likely to 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. As a result, the triethylene glycol market is expected to grow at a modest CAGR of 3.7% during the forecast period.
Segment Analysis
Based on the application type, 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.
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.
Key Players
Most of the companies are deploying various strategies regarding product development & differentiation, pricing, branding, technology, and customized products to gain competitive advantage. The following are some of the key players in the triethylene glycol market:
- Huntsman Corporation
- Sinopec
- LyondellBasell Industries N.V.
- SABIC
- Indorama Venture
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s triethylene glycol market realities and future market possibilities for the forecast period of 2022 to 2027. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
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 industry experts to obtain both qualitative and quantitative insights.
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. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product Portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
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Triethylene Glycol Market Features
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Market Growth (2022-2027)
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3.7% CAGR
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Base Year of Study
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2021
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Trend Period
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2016-2020
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Forecast Period
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2022-2027
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Segments Covered
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By Application Type (natural gas dehydration, solvents, plasticizers, polyurethanes, humectants, polyester resins, and others)
Region (North America, Europe, Asia-Pacific, and Rest of the World)
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Top Companies in 2022
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- Huntsman Corporation
- Sinopec
- LyondellBasell Industries N.V.
- SABIC
- Indorama Venture
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Dominant Region
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Asia-Pacific is expected to remain the largest market for triethylene glycol over the forecast period.
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The triethylene glycol market is segmented into the following categories:
Triethylene Glycol Market, by Application Type
- Natural Gas Dehydration (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Solvents (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Plasticizers (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Polyurethanes (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Humectants (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Polyester Resins (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)
Triethylene Glycol Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, Italy, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Argentina, and Others)
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Report – Features
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Market Segmentation
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2
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Regions Covered
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4
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Countries/Sub-Regions Covered
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17
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No. of Figures & Tables
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>140
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Company Profiles
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5
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Report 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 the 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.
