Triethylene Glycol Market: Overview

Triethylene glycol (TEG) exists as a transparent, viscous, odorless, water soluble liquid which is also miscible in liquids other than water. It displays similar properties as other glycol compounds. Its uses are confined to industries requiring high boiling point and low volatility. The application of the product includes dehydration of natural gas, as mild disinfectant. Its industrial uses include adsorbents and absorbents, functional fluids in both closed and open systems, Intermediates, petroleum production processing aids, and solvents.

Thus, it does not come as a surprise that the market is set to chart a steady growth curve over the forecast period of 2019 to 2027, pulling the market worth up substantially. The projected growth would also translate to a number of growth opportunities. Players would hustle to make the most of these over the stated forecast period.

Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report

Triethylene Glycol Market: Notable Developments

Notable developments that are helping shape the global triethylene glycol market are spelled out below:

In the year 2015, Dow Chemical Company improved production capacity by beginning construction of a new plant in Texas. The move is set to improve market position of the company in the stated region, while boosting availability of the product for a couple of years.

In the year 2016, expansion project at Huntsman port Neches was completed by Huntsman Corporation. In North American region, the move made the facility the largest producer of ethylene oxide.

The triethylene glycol market is highly fragmented due to the presence of a large number of players. These include:

  • SABIC
  • Eastman Chemicals
  • LyondellBasell
  • ExxonMobil
  • The Dow Chemical Company
  • Sinopec

Capacity enhancement by leading market players coupled is a significant growth strategy. Besides, increasing number of regional players in regions such as that of China, India, and South Korea is expected to propel the market forward by increasing competition. The leading companies are deploying strategies such as partnerships, mergers and acquisitions, and joint ventures in order to boost the growth of the market.

Looking for exclusive expert insights from business experts? Request a custom report here

Triethylene Glycol Market: Key trends and drivers

A number of growth factors underscore growth in the global triethylene glycol market. A glimpse into some of the prominent ones is provided below:

  • The major factor driving global market for triethylene glycol includes the growth of the global natural gas market and the growing demand for plasticizers in end use industries.
  • Increasing application of triethylene glycol as a solvent is also acting as a major factor driving the global market for triethylene glycol.
  • Growth in chemical and automotive industry is set to drive the global triethylene glycol market on to a high growth trajectory. India and China would contribute positively to the growth stated here.

Triethylene glycol Market: Geographical analysis

Asia Pacific to lay claim to a large market share owing to increasing government spending in natural gas exploration projects in China and India. On the other hand, North America and Middle East will witness growth owing to an increase in natural gas production, coupled with increasing trend for natural gas based power plants in the U.S. and Canada. The forecast period would thus witness a massive a slew of growth opportunities in the market.

As far as the Middle East countries are concerned - Saudi Arabia, Iran and Qatar are expected to have strong growth prospects owing to the presence of massive proven natural gas reserves. Furthermore, massive TEG capacity addition by the Gulf Cooperation Council (GCC) over the past few years is anticipated to have a positive impact on the market.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Teg Market

Pre Book