Triethylene Glycol (TEG) Market Size, Share, Growth, Trends and Forecast Report, 2016 to 2022
The global triethylene glycol (TEG) market demand was 411.2 kilotons in 2014 and is expected to grow at a CAGR of 3.5% from 2015-2022 on account of rising demand for natural gas from various end-use industries including power generation, transportation, and domestic applications.
(firmenpresse) - Global triethylene glycol (TEG) market is expected to reach USD 718.3 million by 2022, according to a new study by Grand View Research, Inc. Increasing natural gas output is expected to be one of the key factors driving TEG demand over the forecast period. Rise in gas production is expected to have a two-fold impact on the TEG market providing abundant feedstock for TEG manufacture on the supply side and utilizing TEG for gas de-hydration on the demand side. Aforementioned factor is anticipated to augment market growth over the forecast period.
Use of TEG in natural gas dehydration accounted for over 55% of global TEG volume in 2014. The segment is also expected to witness fastest growth at an estimated CAGR of over 3.5% from 2015 to 2022. High consumption of TEG in natural gas dehydration can be attributed to growing demand from developed nations including Japan, U.S., EU, Russia and Qatar. Moreover, improving infrastructure for gas import, transport and utilization in emerging economies such as China, India and Brazil is likely to fuel TEG market over the forecast period. Positive gas industry outlook on account of policies favoring use of gas as a cleaner fuel is anticipated to assist market growth over the next seven years.
Growing chemical industry coupled with expanding end-use industries such as automotive industry especially in India and China is expected to boost demand for TEG in solvent and plasticizer applications. Increasing application scope of molded plastics and rubber is expected to result in increasing utilization of TEG over the forecast period.
Further key findings from the study suggest:
its in China coupled with favorable government regulations in the country is expected to augment market demand over the next seven years.
& Company, Honeywell International Inc. and 3M, Honam Petrochemical Corporation, Ineos, SABIC, Shell, Reliance Industries Ltd. and Clariant.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Sherry James
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Datum: 16.12.2019 - 07:55 Uhr
Sprache: Deutsch
News-ID 1554783
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