The ethylene glycol market is anticipated to grow rapidly in the upcoming years. These novel growth opportunities in the market are due to the growing demand for the PET bottles from the packaging industry. At the present time, food brands around the world are looking for healthier and safer packaging alternatives that increase the demand for PET packaging. These factors are further estimated to drive sales opportunities in the ethylene glycol market in the near future.
PET containers are helpful to retain the appearance, flavor, and aroma of the food. Furthermore, these bottles can easily be sealed, are light in weight, and are easy to handle. These features are likely to boost expansion opportunities in the ethylene glycol market during the forecast period.
The analysts from TMR Research have conducted thorough research on the ethylene glycol market in order to study the nature of the industry. These analysts have identified that rapid growth avenues in the automotive industry have also been predicted to serve as one of the vital factors to bolster novel growth avenues in the ethylene glycol market.
Growing Demand for Polyester Fibers to Drives Ethylene Glycol Market
In recent years, there has been a noteworthy increase in the demand for polyesters fibers for conveyor belt fabrics, seat belts, and coated fabrics. This rising demand for industry products is due to the increasing use of ethylene glycol to manufacture polyester fibers. These factors are further projected to boost sales opportunities in the ethylene glycol market in the foreseeable years.
The ethylene glycol market has been fragmented because of the presence of large and small players. Their presence is likely to create intense competition among the ethylene glycol market players. In addition to this, the textile industries are using ethylene glycol at an increased rate. This factor is also anticipated to fuel the growth opportunities in the ethylene glycol market in the near future.