The ethylene glycol market will register a CAGR of almost 4% by 2023

Technavio's analysts have predicted that the ethylene glycol market will register a CAGR of almost 4% by 2023.

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Provider: 
PR NewswirePR Newswire
Retrieved on: 
Tuesday, February 12, 2019
Information
Tags: 
Chemistry, Physical sciences, Organic compounds, Commodity chemicals, Household chemicals, Plastics, Hazardous air pollutants, Gaseous signaling molecules, Ethylene glycol, Polyethylene terephthalate, Ethylene, Low-density polyethylene
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NEW YORK
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REPORTLINKER
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Summary
Key Points: 
  • Technavio's analysts have predicted that the ethylene glycol market will register a CAGR of almost 4% by 2023.
  • The growing use of ethylene glycol for the production of PET bottles is expected to drive the market's growth.
  • The growing environmental concem regarding the use of plastics for packaging will be a major challenge for the global ethylene glycol market.
  • For the detailed list of factors that will drive and challenge the growth of the ethylene glycol market during the 2019-2023, view our report.


The ethylene glycol market will register a CAGR of almost 4% by 2023

NEW YORK, Feb. 12, 2019 /PRNewswire/ -- About this market
The global ethylene glycol market is witnessing high growth from developing countries. Many vendors are shifting their manufacturing activities to these developing countries. Factors such as availability of raw materials, low transportation costs. cheap labor. and less stringent regulations are expected to drive the market's growth. The emergence of China and India as the manufacturing hubs for textiles and packaging industries in APAC is also expected to drive the demand for ethylene glycol. The growth of the automobile industry in APAC is attributed to the development of road infrastructure and increase in per capita of vehicles owned. Technavio's analysts have predicted that the ethylene glycol market will register a CAGR of almost 4% by 2023.

Read the full report: https://www.reportlinker.com/p05734237

Market Overview
Increase in demand from PET bottles
The growing use of ethylene glycol for the production of PET bottles is expected to drive the market's growth. PET resins are used in the production of beverage bottles and injection molded consumer product containers. The ongoing product development and technological enhancement in the global PET bottles market help in the establishment of value proposition to buyers.
Growing concerns associated with plastic packaging
The growing environmental concem regarding the use of plastics for packaging will be a major challenge for the global ethylene glycol market. Further, the improper disposal of plastic packaging along with food waste results in consumption by animals: causing life threats to the animal habitat. In addition, the volatile organic compounds (VOCs) emitted during the process of packaging pose a significant threat to the environment.
For the detailed list of factors that will drive and challenge the growth of the ethylene glycol market during the 2019-2023, view our report.

Competitive Landscape
The market appears to be moderately fragmented and with the presence of few vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

Read the full report: https://www.reportlinker.com/p05734237

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