Global Glycol Market: Overview
The demand within the global market for glycol has been rising on account of advancements in the chemical industry. The use of glycol spans across a range of industries, and the cooling properties of the compound help in accomplishing various tasks. The organic value og glycol has played a major role in the growth of the global market for glycol in recent times. The water-miscible nature of glycol makes it a sound and useful compound across a wide array of industries. Glycol can also be used for heat transfer, and this is another key property of this organic compound. The heat transfer characteristics developed by glycol on being mixed with water are commendable, and this factor has played a major role in increased adoption of glycol. Two of the major types of glycol are propylene ethylene and ethylene glycol, and each of them is extremely useful in the chemical industry. The use of ethylene glycol across a wide array of industries has played an underhanded role in the growth of the global glycol market. It is expected that the revenue index of the global glycol market would improve in the years to come.
The global market for glycol can be segmented on the basis of the following parameters: product, application, and region. The market segments pertaining to the global glycol market are instrumental in defining the growth dynamics of this market.
A report added by Transparency Market Research (TMR) on the global glycol market is a deft explanation of the forces that have aided market growth. The market for glycol endows lucrative opportunities for growth, and the report defines the scope and nature of these opportunities. The regional dynamics of the global glycol market have also been enunciated in the report.
Global Glycol Market: Trends and Opportunities
The global glycol market has been expanding at a stellar pace over the past decade, and there is a possibility of fresh investments to flow into the market. The commendable uses of ethylene glycol and propylene glycol are the major reasons behind the growth of the global glycol market. The use of these glycols in the automotive sector is expected to keep improving the revenue index of the global market. The automotive sector endows voluminous opportunities for growth, and this sector has aided the growth of key user industries. Henceforth, it can be predicted that the global glycol market would emerge as a haven of opportunities in the years to follow.
Global Glycol Market: Market Potential
The global market for glycol has expanded its roots to several sectors and industries. The use of ethylene glycol in HVAC has emerged as a key reason behind the growth of the global glycol market. Furthermore, the manufacture of textiles also involves the use of ethylene and propylene glycol. This factor has in turn improved the growth prospects within the global glycol market in recent times.
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Global Glycol Market: Regional Outlook
On the basis of geography, the global glycol market has been segmented into Latin America, North America, the Middle East and Africa, Asia Pacific, and Europe. The market for glycol in Asia Pacific has been expanding alongside advancements in the field of polyester and resin manufacturing. Furthermore, the use of glycols in aircraft manufacturing has also aided market growth.
Global Glycol Market: Competitive Landscape
Some of the key vendors in the global glycol market are Lotte Chemical, Cargill, Ashland, Univar, SABIC, AkzoNobel, Huntsman, and Reliance Industries.