The Triethylene Glycol Market is segmented by Application Type (Natural Gas Dehydration, Solvents, Plasticizers, Polyurethanes, Humectants, Polyester Resins, and Others), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, South Korea, and Rest of Asia-Pacific], and Rest of the World [Brazil, Argentina, and Others]).
The Triethylene Glycol Market is segmented by Application Type (Natural Gas Dehydration, Solvents, Plasticizers, Polyurethanes, Humectants, Polyester Resins, and Others), and by Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, Ita...
Triethylene glycol, or TEG, is a colorless, viscous, non-volatile liquid with the formula C6H14O4. It is completely miscible with water and other liquids. The product possesses properties that are almost similar to those of other glycol compounds. It is preferred over diethylene glycol in applications requiring a high boiling point and low volatility.
Market Drivers
The increasing demand for natural gas from various end-use industries such as power generation, transportation, and domestic applications is expected to drive the recovery and growth of the triethylene glycol market during the forecast period. Furthermore, the demand for clean alternative transportation fuels, paired with the growing importance of renewable energy sources, will likely accelerate the market growth.
Also, the increasing application scope of plasticizers in automotive, construction, and synthetic rubber production is expected to bolster increased usage of the product.
COVID-19 Impact
The triethylene glycol market was impacted by the pandemic. Industry stakeholders suffered due to temporary production shutdowns, supply chain disruptions, cash flow constraints, and lockdowns. As a result, the demand for triethylene glycol decreased in 2020.
Segments Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Application-Type Analysis
Natural Gas Dehydration, Solvents, Plasticizers, Polyurethanes, Humectants, Polyester Resins, and Others
Natural gas dehydration is likely to remain the dominant segment during the forecast period.
Regional Analysis
North America, Europe, Asia-Pacific, and Rest of the World
Asia Pacific held the highest market share in 2020 and is projected to grow at a healthy CAGR during the forecast period.
By Application Type
“Natural gas dehydration is likely to remain the dominantsegment during the forecast period”.
The market is segmented as natural gas dehydration, solvents, plasticizers, polyurethanes, humectants, polyester resins, and others. Natural gas dehydration is likely to remain the dominant segment during the forecast period.
This growth can be attributed to the increasing production of natural gas and recent advancements in the industry. Triethylene glycol is also used to produce a variety of products for industrial and commercial applications such as solvents, adhesives & coatings, lubricants, polyurethane foams, emulsifiers, and thermoplastics.
Regional Analysis
“Asia-Pacific will remain the largest market, with North America expected to see the highest CAGR during the forecast period”.
The market is broken down geographically into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of regions, Asia-Pacific is expected to remain the largest market for triethylene glycol over the forecast period. Rising government spending on natural gas exploration projects in China and India is driving the growth of the region’s market.
Also, North America is estimated to grow at the highest CAGR during the forecast period due to a surge in natural gas production and a growing trend for natural gas-based power plants in the U.S. and Canada.
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Key Players
Most of companies are deploying various strategies regarding product development & differentiation, pricing, branding, technology, and customized products to gain a competitive advantage.
The following are the key players in the Triethylene Glycol Market (arranged alphabetically)
Huntsman Corporation
Indorama Venture
LyondellBasell Industries N.V.
SABIC
Sinopec
Note: The above list does not necessarily include all the top players in the market.
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Report Features
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Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth Analysis of the Triethylene Glycol Market
How lucrative is the future?
The market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country-level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and Forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.
We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.
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Factors such as increasing demand for natural gas from various end-use industries such as power generation, transportation, and domestic applications and rising demand for clean alternative transportation fuels are expected to drive the growth of the market in the coming five years.
Asia-Pacific is estimated to be dominant in the market in the coming years. Rising government spending on natural gas exploration projects in China and India is expected to drive the market dynamics.
North America is estimated to be the fastest-growing region in the coming years due to a surge in natural gas production and a growing trend for natural gas-based power plants in the U.S. and Canada.
Natural gas dehydration is likely to maintain its dominance in the market over the next five years. This growth can be attributed to the increasing production of natural gas and recent advancements in the industry.
Huntsman Corporation, Sinopec, LyondellBasell Industries N.V., SABIC, Indorama Venture, Clariant AG, ExxonMobil Corporation, LOTTE Chemical, Ineos Group Ltd, Reliance Industries Limited are some of the key players in the market.
