Global TriethyleneGlycol (TEG) Market is anticipated to reach USD 718.3 million by 2022. Tri-ethylene glycol is an odorless, colorless, hygroscopic liquid and non-volatile in nature. Ethylene glycol is commercially prepared by oxidation of ethylene at high temperature in the presence of catalyst silver oxide, followed by hydration of ethylene oxide to produce mono, di and tri-ethylene glycol as sub-products. Tri-ethylene glycol is used as vinyl plasticizer, as in-between in the manufacture of polyester polyols and resins, and as a solvent in several various applications.
The
factors that propel the growth of the TEG industry include rising demand for
solvents and increasing oil & gas investigation activities across the
world. On the other hand, there are factors that may hamper the growth of the
market including higher derivatives of glycols, and high cost of production.
Triethylene Glycol Market is anticipated to grow at a significant CAGR of 3.5%
in the upcoming period as the scope, product types, and its applications are
increasing across the globe.
Triethylene
Glycol (TEG) industry may be explored by product type, application, and
geography. The market may be explored by product type as industrial Grade, and
Other. The key application that could be explored in the TEG Market include
Solvents, Polyester Resins, Natural gas dehydration, Plasticizers, Humectants,
Polyurethanes, and Others. The “Natural Gas Dehydration” segment led the
Triethylene Glycol industry in 2015 and is anticipated to maintain its
dominance by 2022.
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Asia-Pacific
accounted for the major share of the Triethylene Glycol (TEG) Market Size in
2014 and will continue to lead in the forecast period. The factors that could
be attributed to the growth includes rising use of gas as a fuel source in
India, China, Japan, and South Korea. Improved demand for TEG in the region.
Some
of the key players that fuel the growth of the Triethylene Glycol industry
comprise ExxonMobil, LyondellBasell, Honeywell International Inc. E.I. duPont
de Nemours & Company, 3M, Ineos, Honam Petrochemical Corporation, Shell,
SABIC, Clariant, and Reliance Industries Ltd. The leading companies are taking
up partnerships, mergers and acquisitions, and joint ventures in order to boost
the inorganic growth of the industry.
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Market Segment:
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
• U.S.
• Europe
• Germany
• Asia Pacific
• China
• India
• Latin America
• Middle East and Africa
• Saudi Arabia
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