Monoethylene Glycol Market Growth, Revenue Share Analysis, Company Profiles, and Forecast To 2028

According to the current analysis of Reports and Data, The global monoethylene glycol market was valued at USD 27.79 Billion in 2020 and is expected to reach USD 39.98 Billion by year 2028, at a CAGR of 4.70%.

According to the current analysis of Reports and Data, The globalmonoethylene glycol marketwas valued at USD 27.79 Billion in 2020 and is expected to reach USD 39.98 Billion by year 2028, at a CAGR of 4.70%. Monoethylene glycol is primarily used in the manufacturing of PET and polyester resins. Monoethylene glycol is produced from ethylene via ethylene oxide, which is hydrated through thermal or catalytic process. Monoethylene glycol (MEG) is a colorless, odorless, syrupy liquid with sweet taste. Mono-ethylene Glycol (MEG) can be used for applications that require chemical intermediates for resins, solvent couplers, freezing point depression, solvents, humectants and chemical intermediates. The increasing use of monoethylene glycol in polyester fiber and polyethylene terephthalate (PET) industries is propelling the growth of the global monoethylene glycol market. The product is a significant raw material for industrial of resins, deicing fluids, heat transfer fluids, automotive antifreeze and coolants, water-based adhesives, latex paints and asphalt emulsions, electrolytic capacitors, textile fibers, paper, and leather. It can also be used as a coolant material, anti-corrosion agent, dewatering agent, anti-freeze, aircraft anti-icer and deicers, and chemical intermediate.

Factors contributing to the growing CAGR include, usage of monoethylene glycol in producing polymer fabrics and PET resins, especially in evolving economies, worldwide

Furthermore, bio-based monoethylene glycol is expected to create abundant opportunities for the expansion of the global monoethylene glycol market. Moreover, the growing demand for non-ionic surfactant and growing textile fiber industries are probable to generate plentiful prospects for the growth of the global monoethylene glycol market, during the forecast period.

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Further key findings from the report suggest

  • Polyester fabrics are extensively used in apparels, home furnishings, yarns ropes and other industrial applications including conveyer belts and insulating tapes which are likely to drive the demand for MEG over the forecast period.
  • The production of Polyester fibers in the past years has been increasing. This increasing trend will also be observed during the forecast period. Roughly, 0.345 Kg of MEG is used to make 1 Kg of Polyester
  • The growing demand for monoethylene glycol in the production of polyester fiber is the major factor influencing the market growth. Interpreting to the technology, naphtha-based segment recorded the highest share in the market of approximately 47.1%
  • The increasing industrial sector in countries such as China and India are the driving the market growth. The Asia Pacific holds the largest market share of 37.5% in the global mono-ethylene glycol market due to the rising demand for polyester fiber in the region
  • New Catalytic process utilizes 20% less steam and 30% less water than the traditional thermal conversion process, which reduces the carbon dioxide emission per ton of MEG produced
  • North America witnessed a stable growth in the market over the past few years and will continue to do so during the forecast period whereas
  • Key market players includeLyondellBasell, The Dow Chemical Company, ME Global, SABIC, ExxonMobil Corporation, Formosa Plastic Group, AkzoNobel and Honam Petrochemical Corporation

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Technology (Revenue, USD Million; 20182028)

  • Naphtha-Based
  • Coal-And Natural Gas-Based
  • Bio-Based Monoethylene GlycolProduction
  • Technology Providers

Application (Revenue, USD Million; 20182028)

  • Fiber
  • PET
  • Film
  • Antifreeze Coolant
  • Others

Key Regional Markets Covered in the Report:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)

The Monoethylene Glycol market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Monoethylene Glycol market.

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Frequently Asked Questions Addressed in the Report:

  • What is the estimated market revenue growth over the forecast period?
  • What are the major factors driving the global Monoethylene Glycol market revenue growth?
  • Which regional market is expected to account for the largest revenue share in the global Monoethylene Glycol market over the forecast years?
  • Which are the leading players in the global Monoethylene Glycol market?
  • What are the key outcomes of SWOT analysis and Porters Five Forces analysis of the market?

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