India Ethylene Glycol Market (2020-2026) | Analysis, Size, Revenue, Growth, industry, Forecast, Trends, Value, Outlook & COVID-19 IMPACT

Latest 2023 Development of the India Ethylene Glycol Market

India Ethylene Glycol Market is forecast to experience tremendous growth in the coming years on the back of growing demand for PET which is used to manufacture various products such as bottles, containers, and packaging materials. Also, there has been an increasing demand for PET in food and beverage, pharmaceuticals, and personal care, industries which are thriving in the growth of the ethylene glycol market in India. In addition to this, with the increasing demand for automobiles in India, the demand for ethylene glycol as a coolant is also growing, contributing to the India Ethylene Glycol Market growth. Also, the government has taken several initiatives to promote the chemical industry in the country, which has encouraged the establishment of new manufacturing facilities and increased the production of ethylene glycol in the country.

Moreover, the rapid urbanization in India has led to the growth of several end-use industries such as automotive and packaging, which has resulted in a surging demand for ethylene glycol. Several companies in India have announced plans to expand their production capacities for ethylene glycol. Furthermore, the demand for ethylene glycol in antifreeze applications has been increasing in India due to the growing automotive industry. Many companies are investing in research and development activities to develop new and innovative products. 

India ethylene glycol market Synopsis

India ethylene glycol market witnessed a boom in recent years on account of growing demand from the industrial sector, the country has emerged as the second main consumption hub with its built-up second-largest downstream polyester capacities. Owing to varied applications across industries such as the automobile industry, textile industry, and paint industry the demand for mono ethylene glycol (MEG) has fuelled at a faster rate as compared to the overall market. The increase in the demand for decomposable MEG and the fluctuating price of crude oil could dampen the growth prospects of the ethylene glycol market in India.

According to 6Wresearch, India Ethylene Glycol Market is anticipated to register growth during 2020-2026. Polyethene glycol helps in increasing the shelf life as well as stability of dental products, owing to which the demand for polyethene glycol is expected to increase in the medical and healthcare sector over the forecast period. Additionally, the Government of India has come up with initiatives to lift anti-dumping duty on polyester, which would support MSME industries to produce more domestically and in turn would further create abundant opportunities for the ethylene glycol market in India.

By Application, Polyethylene Terephthalate, or PET, is the largest consumer of MEG, accounting for a significant share in the domestic market. The textile and pesticide industries are other major consumers of MEG in the country and they are expected to witness strong growth in the coming years. Further, MEG is also used in applications that require chemical intermediates for resins, solvent couplers, freezing point depressors, solvents, humectants, and chemical intermediates.

The India ethylene glycol market report thoroughly covers the market by product types, and applications. India ethylene glycol market outlook report provides an unbiased and detailed analysis of the ongoing India ethylene glycol market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India ethylene glycol market is expected to witness potential growth in the upcoming six years on the back of the rising textile industry across the country. Further, increased manufacturing for polyester fiber with respect to the rising demand for home essential products such as carpets and pillows and leather dye facilities across the globe has led to the enhancement of government efforts in rising export trade process intended to encourage foreign direct investment which is leading to the massive expansion of the textile sector and is expected to be a potential driver for the extensive growth of India ethylene glycol market in the coming years.

Key Highlights of the Report:

:

• India Ethylene Glycol Market Overview
• India Ethylene Glycol Market Outlook
• India Ethylene Glycol Market Forecast
• Historical Data of India Ethylene Glycol Market Revenues and Volume for the Period 2016-2019
• India Ethylene Glycol Market Size & Ethylene Glycol Market Forecast of Revenues and Volume, Until 2026
• Historical Data of India Ethylene Glycol Market Revenues and Volume, By Product Types, for the Period 2016-2019
• Market Size & Forecast of India Ethylene Glycol Market Revenues Volume, By Product Types, Until 2026
• Historical Data of India Ethylene Glycol Market Revenues and Volume, By Applications, for the Period 2016-2019
• Market Size & Forecast of India Ethylene Glycol Market Revenues and Volume, By Applications, Until 2026
• Market Drivers and Restraints
• India Ethylene Glycol Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis and Market Opportunity Assessment
• India Ethylene Glycol Market Share, By Players
• India Ethylene Glycol Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The India Ethylene Glycol Market report provides a detailed analysis of the following market segments:

By Product Types

• Monoethylene Glycol
• Diethylene Glycol
• Triethylene glycol

By Applications

• Automotive Industry
• Textile Industry
• Paint Industry
• PET Industry
• Others (Paper & Pulp, Food & Beverages, Optic Fibres, etc.)