Ethylene Glycol Market Regional Analysis:
APAC Market Insights
Asia Pacific region is anticipated to hold over 49.5% market share by 2035. The primary reason for the market growth in the region is the rising population along with the increasing demand and manufacturing of textiles. The recent statistics revealed that China was the top-ranked global textile exporter in 2021 with a value of approximately USD 120 billion, which is equivalent to 55% of the total textile export sector in Asia. Bangladesh is also a leading textile exporter with a value of around USD 40 billion. Further, the expansion of the automotive industry in the region is another growth factor for the utilization of ethylene glycol. As per recent estimates, India is set to become 3rd largest automotive industry in the world. Also, India’s automotive industry generated almost USD 220 billion in 2021, which is equivalent to 7% of total India’s GDP.
North American Market Insights
On the other hand, the North American ethylene glycol market is also projected to grow significantly on the account of the presence of major key players and the various end-use industries in the region. Furthermore, the rising investments in the research and development activities in the region along with the rising government support for aiding the development of manufacturing facilities of ethylene glycol is considered to impetus a significant revenue generation in the forecast period.
