The global glycols market value is anticipated to exceed USD 47.2 billion by 2025, according to a new report by Grand View Research, Inc. The rising HVAC demand for advanced and high quality heating and cooling systems is expected to be a key factor steering the growth in the coming years.
Glycols include ethylene, propylene and its derivatives are predominately used in the automotive sector as engine antifreeze and coolant products with lower freezing points. The growing product demand in key end-use industries including food & beverage, textiles, medical, and aerospace are expected to increase the consumption globally.Heavy industrialization in countries such as Japan, China, and India have contributed significantly to the glycols demand over the recent past.
Heating, ventilating, and air conditioning (HVAC) sector dominated the global consumption with demand exceeding 4,100 kilo tons in 2015. Textiles accounted for over 12% of global revenue in 2015. Stringent chemical disposal regulations in the North American and European region have contributed to this demand in the recent past and are expected to continue the trend over the forecast period.
Growing R&D initiatives by key participants coupled with technological advancements to discover novel diol products with higher efficiency level and durability are expected to create new opportunities for the industrial applications.
Full Research Report On Global Glycols Market Analysis:
www.grandviewresearch.com/industry-analysis/glycols-market
Further key findings from the report suggest:
View more reports of this category by Grand View Research at:
www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the glycols market on the basis of product, application and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
View press release of this research report by Grand View Research:
www.grandviewresearch.com/press-release/global-glycols-market
About Grand View Research
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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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