Glycol Market, By Type (Ethylene Glycol, Monoethylene Glycol (MEG), Diethylene Glycol (DEG), Triethylne Glycol (TEG), Polyethylene Glycol (PEG), Propylene Glycol, Other Types), By End-User Industry (Automotive and Transportation, Packaging, Food and Beverage, Cosmetics, Pharmaceuticals, Textile, Other End-user Industries), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Glycol is an organic compound with the formula CH2OH2. It is primarily used in the manufacture of polyester fibers and in the formulation of antifreeze. It is colorless and odorless, and a viscous liquid. In its liquid form, it is highly flammable. Glycol has several applications and is a common ingredient in personal care products. It is also used as an antifreeze in cars, as well as in brake fluids. The P-series variety is also used in personal hygiene products. The high boiling point of glycol makes it ideal for antifreeze applications. Among the different types of glycol, ethylene glycol is the most common. Other less common types are propylene glycol and diethylene glycol. Propylene glycol is a non-toxic alternative, with similar physical properties to ethylene glycol. Propylene glycol is also used in oral hygiene products, HVAC systems, and other applications.
Market Dynamics:
The growth of the glycol market is being driven by the growing demand for plasticizers and polyurethane resins. Moreover, growing demand from automobile industry and paint and coatings industries is again fostering market growth. This sector accounts for nearly half of the global glycol ethers market. Growth of other end-user markets such as pharmaceuticals, engineering plastic, and pipeline maintenance is further projected to foster market growth.
On the other hand, fluctuating price of raw materials is projected to hamper market growth.
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