Triethylene glycol (TEG) exists as a transparent, viscous, odorless, water soluble liquid which is also miscible in liquids other than water. It displays similar properties as other glycol compounds. Its uses are confined to industries requiring high boiling point and low volatility. The application of the product includes dehydration of natural gas, as mild disinfectant. Its industrial uses include adsorbents and absorbents, functional fluids in both closed and open systems, Intermediates, petroleum production processing aids, and solvents.
Thus, it does not come as a surprise that the market is set to chart a steady growth curve over the forecast period of 2019 to 2027, pulling the market worth up substantially. The projected growth would also translate to a number of growth opportunities. Players would hustle to make the most of these over the stated forecast period.
Notable developments that are helping shape the global triethylene glycol market are spelled out below:
In the year 2015, Dow Chemical Company improved production capacity by beginning construction of a new plant in Texas. The move is set to improve market position of the company in the stated region, while boosting availability of the product for a couple of years.
In the year 2016, expansion project at Huntsman port Neches was completed by Huntsman Corporation. In North American region, the move made the facility the largest producer of ethylene oxide.
The triethylene glycol market is highly fragmented due to the presence of a large number of players. These include:
Capacity enhancement by leading market players coupled is a significant growth strategy. Besides, increasing number of regional players in regions such as that of China, India, and South Korea is expected to propel the market forward by increasing competition. The leading companies are deploying strategies such as partnerships, mergers and acquisitions, and joint ventures in order to boost the growth of the market.
A number of growth factors underscore growth in the global triethylene glycol market. A glimpse into some of the prominent ones is provided below:
Asia Pacific to lay claim to a large market share owing to increasing government spending in natural gas exploration projects in China and India. On the other hand, North America and Middle East will witness growth owing to an increase in natural gas production, coupled with increasing trend for natural gas based power plants in the U.S. and Canada. The forecast period would thus witness a massive a slew of growth opportunities in the market.
As far as the Middle East countries are concerned - Saudi Arabia, Iran and Qatar are expected to have strong growth prospects owing to the presence of massive proven natural gas reserves. Furthermore, massive TEG capacity addition by the Gulf Cooperation Council (GCC) over the past few years is anticipated to have a positive impact on the market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
The regional analysis covers:
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
Copyright © Transparency Market Research, Inc. All Rights reserved
Trust Online
Triethylene Glycol Market
