Report Details:
15 Companies Covered
140 Pages
Pune, India /press release/- Market Research Future Published a Half Cooked Research Report on Global Mono-Ethylene Glycol Research Report.
Market Overview
Monoethylene glycol is a sweet, colorless, odorless liquid which is obtained from ethylene oxide through a thermal or catalytic process. It is used for producing various products such as resins, heat transfer fluids, water-based adhesives, paints & emulsions, and others.
The Mono Ethylene Glycol (MEG) Market was valued at USD 43.39 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.10% between 2024 and 2032, reaching USD 73.94 billion by 2032. The global mono-ethylene glycol market is segmented on the basis of applications such as polyester fiber, polyurethane terephthalate, antifreeze & coolants, solvent, and chemical intermediates among others. The polyester fiber is the largest segment in the market due to its growing demand for producing apparels, carpets, ropes, and rugs, etc. on account of the properties such as hydrophobic nature, durability, and tenacity. Furthermore, the shifting trends towards the usage of polyethylene terephthalate (PET) from metals and paperboard in the packaging industry owing to its recyclable, stable, and chemical resistance nature.
Market Segmentation
The global mono-ethylene glycol market is segmented on the basis of the application, end-use industries, and region.
Based on the application, the global mono-ethylene glycol market is segmented into polyester fiber, polyethylene terephthalate, antifreeze & coolants, solvent, chemical intermediate, and others.
The end-user industries of the global monoethylene market are segmented into packaging, automotive, textiles, chemicals, paper, leather, and others.
Geographically, the global mono-ethylene glycol market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Regional Analysis
The global mono-ethylene glycol market is segmented into five regions of Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific is the fastest emerging region in the global mono-ethylene glycol market due to the rising demand for polyester fiber from growing industrial sector such as agriculture, mining, and others in the region.
Toxic Substances Control Act, European Protection Agency, and European Union have implemented stringent regulations on the production of monoethylene glycol, which is likely to slow the market growth in North America and Europe.
The Middle East & Africa, and Latin America are likely to witness a considerable growth due to the growing trend of producing mono-ethylene glycol from paraxylene, which is used for manufacturing polyethylene terephthalate (PET).
Competitive Analysis
Some of the manufacturers operating in the global mono-ethylene glycol market are SABIC (Saudi Arabia), The Dow Chemical Company (U.S.), Akzo Nobel N. V. (the Netherlands), Mitsubishi Chemical Corporation (Japan), Royal Dutch Shell plc (Netherlands), LOTTE Chemical CORPORATION (South Korea), China Petroleum & Chemical Corporation (China), Exxon Mobil Corporation (U.S.), BASF SE (Germany), MEGlobal (UAE), and Formosa Plastics Corporation (Taiwan).
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