Global industry analysis
The Triethylene Glycol (TEG) market is an important industry in the global chemicals and materials sector. It is used as a feedstock for the production of alkyd resins, polyester fibers and films, humectants, emollients, and plasticizers.
Triethylene glycol is an ethylene glycol derivative and an organic chemical molecule. Physically it is a liquid and has properties such as transparency, water solubility, odorlessness and viscosity. It is advantageous when a product with a higher molecular weight or lower volatility than diethyl glycol is desired or when a higher boiling point is required.
Triethylene Glycol is also known for its ability to absorb moisture, making it ideal for hygroscopic applications. Dehydrogenated natural gas is one of the main uses of triethylene glycol. Triethylene glycol is additionally used in air conditioning related applications to remove moisture. Triethylene Glycol is an important component of the petroleum sector and an important raw material to be evaluated in view of the world market.
Therefore, a study of the Triethylene Glycol market is essential reading when considering the important applications of Triethylene Glycol.
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market segmentation
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Important trends, drivers
It can be observed that the recent significant growth in the global chemical industry is contributing to the Triethylene Glycol Market growth on a global scale. Triethylene glycol also finds uses in the automotive industry and finds important uses in the manufacture of solvents and plasticizers.
The rapid expansion of the automotive industry, particularly in fast-growing economies such as India, China and Southeast Asia, is expected to further fuel demand for triethylene glycol across the region. Additionally, triethylene glycol is currently experiencing increasing end-uses in the plastics, polymers and rubber industries that are driving manufacturers’ sales of triethylene glycol, and this trend is expected to continue for at least the next few years.
The growing demand for triethylene glycol in the manufacture of polyester resins, polyester fibers and polyethylene terephthalate (PET) resins is also driving the global triethylene glycol market. In addition, the use of triethylene glycol in the manufacture of alkyl resins for applications in the paint and pigment industry is also increasing, indicating an important correlation between the growth of the paint and pigment industry and the triethylene glycol market.
Developed countries such as the United States, Japan, Qatar, Russia, Germany, Great Britain, France, Italy and Spain have recently focused on increasing natural gas consumption through favorable import/export policies, improved transportation infrastructure and efficient use. Therefore, it creates a strong potential for the triethylene glycol market worldwide in the coming years. In addition, new and favorable policies promoting the use of gas as a clean fuel are expected to positively impact the growth rate of the triethylene glycol market.
It is important to note that triethylene glycol is primarily made from crude oil. Therefore, it can be observed that fluctuations in the price of crude oil have a direct impact on triethylene glycol prices. Fluctuating crude oil prices affect the price stability of triethylene glycol and slow down the market growth in the short term.
In addition, increasingly stringent regulations regarding the manufacture and use of triethylene glycol could potentially restrict the market. This is related to the fact that the price of the crude oil used to produce triethylene glycol is inherently volatile and dominates the cost of producing triethylene glycol to a significant degree.
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market participants
Examples of Market Players in the Global Triethylene Glycol Market are:
- exxon mobil
- Dow Chemical Company
- Helm Inc
- Brenntag Netherlands BV
- Shell-Chemie
- India Glycol Limited
- TOC Glycol Company Limited
- Huntsman Corporation
- BASF SE
- Lotte Chemie
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