Increasing consumption of Monoethylene Glycol (MEG) for production of polyethylene terephthalate (PET) resins and polymer fabrics is a key factor driving market revenue growth.
Market Size - USD 27.79 Billion in 2020, Market Growth - CAGR of 4.7%, Market Trends - Rising demand for bio-based monoethylene glycol from end-use industries.
The global monoethylene glycol market size is expected to reach USD 39.98 Billion in 2028, and register a CAGR of 4.7% during the forecast period. Growing demand for monoethylene glycol as a raw material in making resins, heat transfer fluids, deicing fluids, automotive antifreeze and coolants, latex paints and asphalt emulsions, water-based adhesives, electrolytic capacitors, paper, textile fibers, and leather is a major factor expected to drive growth of the global monoethylene glycol market. In addition, MEG can be used as an anti-corrosion agent, chemical intermediate, coolant material, anti-freeze, de-watering agent, and aircraft anti-icer and deicers.
Growing demand for non-ionic surfactants and booming textile and fiber industries are resulting in higher demand for monoethylene glycol, thereby driving market growth during the forecast period. In addition, monoethylene glycol is used for making polyester fabrics, which are widely used making home furnishings, apparels, yarns and ropes, insulating tapes and conveyer belts, among others.
However, fluctuating raw material costs such as crude oil, and harmful effects of over exposure to MEG are major factors that could hamper growth of the global monoethylene glycol market. Consumption or absorption of monoethylene glycol could affect the heart, nervous system, and kidneys, which is another factor restraining market growth to some extent.
Some Key Findings From the Report:
For the purpose of this report, the global monoethylene glycol market is segmented on the basis of technology, application, end use and region:
Technology Outlook (Revenue, USD Billion; 2018 - 2028)
Application Outlook (Revenue, USD Billion; 2018 - 2028)
End Use Outlook (Revenue, USD Billion; 2018 - 2028)
Region Outlook (Revenue, USD Billion; 2018 - 2028)
Reasons to Buy the Report
Market Size - USD 27.79 Billion in 2020, Market Growth - CAGR of 4.7%, Market Trends - Rising demand for bio-based monoethylene glycol from end-use industries.
The global monoethylene glycol market size is expected to reach USD 39.98 Billion in 2028, and register a CAGR of 4.7% during the forecast period. Growing demand for monoethylene glycol as a raw material in making resins, heat transfer fluids, deicing fluids, automotive antifreeze and coolants, latex paints and asphalt emulsions, water-based adhesives, electrolytic capacitors, paper, textile fibers, and leather is a major factor expected to drive growth of the global monoethylene glycol market. In addition, MEG can be used as an anti-corrosion agent, chemical intermediate, coolant material, anti-freeze, de-watering agent, and aircraft anti-icer and deicers.
Growing demand for non-ionic surfactants and booming textile and fiber industries are resulting in higher demand for monoethylene glycol, thereby driving market growth during the forecast period. In addition, monoethylene glycol is used for making polyester fabrics, which are widely used making home furnishings, apparels, yarns and ropes, insulating tapes and conveyer belts, among others.
However, fluctuating raw material costs such as crude oil, and harmful effects of over exposure to MEG are major factors that could hamper growth of the global monoethylene glycol market. Consumption or absorption of monoethylene glycol could affect the heart, nervous system, and kidneys, which is another factor restraining market growth to some extent.
Some Key Findings From the Report:
- Among the application segments, the fiber segment accounted for the largest revenue share of 41.5% in 2020.
- The Asia Pacific market accounted for major revenue share in 2020, valued at USD 9.70 Billion in 2020, and is expected to continue with its dominance over the forecast period, due to presence of large number of major players and well-established chemical industry in countries in the region.
- Key players profiled in the report include LyondellBasell, The Dow Chemical Company, ME Global, SABIC, ExxonMobil Corporation, Formosa Plastic Group, AkzoNobel, and Honam Petrochemical Corporation. The market players have adopted various strategies including mergers, acquisitions, partnerships, and new product developments, among other strategies, to stay ahead of the competition and expand market footprint.
For the purpose of this report, the global monoethylene glycol market is segmented on the basis of technology, application, end use and region:
Technology Outlook (Revenue, USD Billion; 2018 - 2028)
- Naphtha-Based
- Coal-And Natural Gas-Based
- Bio-Based Monoethylene Glycol Production
- Technology Providers
Application Outlook (Revenue, USD Billion; 2018 - 2028)
- Fiber
- PET
- Film
- Antifreeze & Coolant
- Others
End Use Outlook (Revenue, USD Billion; 2018 - 2028)
- Packaging
- Automotive
- Textiles
- Chemicals
- Paper
- Leather
Region Outlook (Revenue, USD Billion; 2018 - 2028)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
Reasons to Buy the Report
- A robust analysis and estimation of the Monoethylene Glycol Market with four levels of quality check - in-house database, expert interviews, governmental regulation, and a forecast specifically done through time series analysis
- A holistic competitive landscape of the all the major players in the Monoethylene Glycol Market. The report covers their market shares, strategic initiatives, new product launches, R&D expenditure, M&As, Joint ventures, expansionary plans, product wise metric space analysis and key developments
- Go-to-market strategies specifically formulated in line with location analysis which takes into the factors such as government regulations, supplier mapping, supply chain obstacles, and feedback from local vendors
- Most deep dive segmental bifurcation available currently in the market. Our stellar methodology helps us understand the overall gamut of the supply chain and will help you explain the current market dynamics
- Special focus given on vendor landscape, supplier portfolio, customer mapping, production capacity, and yearly capacity utilization
Table of Contents
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Monoethylene Glycol (MEG)Segmentation & Impact Analysis
Chapter 5. Monoethylene Glycol (MEG)Market By Technology Type Insights & Trends
Chapter 6. Monoethylene Glycol (MEG)Market By Application Type Insights & Trends
Chapter 7. Monoethylene Glycol (MEG)Market By End Use Insights & Trends
Chapter 8. Monoethylene Glycol (MEG)Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- LyondellBasell
- The Dow Chemical Company
- ME Global
- SABIC
- ExxonMobil Corporation
- Formosa Plastic Group
- AkzoNobel
- Honam Petrochemical Corporation
