GLYCOL MARKET ANALYSIS

Glycol Market, By Type (Ethylene Glycol, Monoethylene Glycol, Diethylene Glycol, Triethylne Glycol, Polyethylene Glycol, Propylene Glycol, and Other Types), By End-User Industry (Automotive and Transportation, Packaging, Food and Beverage, Cosmetics, Pharmaceuticals, Textile, and Other End-user Industries), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jul 2024
Code : CMI5320
Pages :138
Formats :
Excel and PDF
Industry : Bulk Chemicals

Market Challenges: Volatility in raw material prices

Volatility in raw material prices has been a major restraining factor for the growth of the glycol market in recent years. Glycol is primarily made from fossil fuel-based feedstock such as natural gas and crude oil. The prices of these raw materials are highly unpredictable and fluctuate frequently depending on global economic and geopolitical conditions. Since the start of the COVID-19 pandemic in 2020, the prices of crude oil and natural gas witnessed a lot of volatility due to uncertainty in demand and disrupted supply chains.

Market Opportunities: Focus on bio-based and recycled glycols

Focus on bio-based and recycled glycols has the potential to be a great opportunity for growth in the glycol market. As consumers become increasingly environmentally conscious, they are demanding more sustainable products. Bio-based and recycled glycols address this demand as they are derived from renewable resources rather than fossil fuels. Some of the current trends that indicate growth potential for bio-based and recycled glycols include an increasing preference for green chemicals and building materials.