Market Research Report
Global Ethylene Glycol Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||318294|
|Published||Content info||124 Pages
Delivery time: 1-2 business days
|Global Ethylene Glycol Market 2019-2023|
|Published: February 1, 2019||Content info: 124 Pages||
The global ethylene glycol market is witnessing high growth from developing countries. Many vendors are shifting their manufacturing activities to these developing countries. Factors such as availability of raw materials, low transportation costs. cheap labor. and less stringent regulations are expected to drive the market's growth. The emergence of China and India as the manufacturing hubs for textiles and packaging industries in APAC is also expected to drive the demand for ethylene glycol. The growth of the automobile industry in APAC is attributed to the development of road infrastructure and increase in per capita of vehicles owned. Technavio's analysts have predicted that the ethylene glycol market will register a CAGR of almost 4% by 2023.
The growing use of ethylene glycol for the production of PET bottles is expected to drive the market's growth. PET resins are used in the production of beverage bottles and injection molded consumer product containers. The ongoing product development and technological enhancement in the global PET bottles market help in the establishment of value proposition to buyers.
The growing environmental concem regarding the use of plastics for packaging will be a major challenge for the global ethylene glycol market. Further, the improper disposal of plastic packaging along with food waste results in consumption by animals: causing life threats to the animal habitat. In addition, the volatile organic compounds (VOCs) emitted during the process of packaging pose a significant threat to the environment.
For the detailed list of factors that will drive and challenge the growth of the ethylene glycol market during the 2019-2023, view our report.
The market appears to be moderately fragmented and with the presence of few vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.