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Global Monoethylene Glycol Market Size, Share & Industry Trends Analysis Report By End-Use (Textile, Packaging, Automotive, Plastics, and Others), By Application, By Regional Outlook and Forecast, 2023 - 2030

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    Report

  • 307 Pages
  • September 2023
  • Region: Global
  • Marqual IT Solutions Pvt. Ltd (KBV Research)
  • ID: 5903550
The Global Monoethylene Glycol Market size is expected to reach $27.5 billion by 2030, rising at a market growth of 3.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 27,223.9 Kilo Tonnes, experiencing a growth of 2.8% (2019-2022).

As the automotive industry grows, so does the demand for MEG-based antifreeze and coolants. MEG is a key component in producing antifreeze and engine coolant formulations. Hence, automotive segment would generate approximately 1/4th share of the market by 2030. These fluids are essential for maintaining the proper operating temperature of automotive engines, preventing them from freezing in cold temperatures and overheating in high temperatures. The automotive industry has expanded globally, driven by increasing urbanization, rising disposable incomes, and transportation needs. Increased MEG usage results from growing passenger and commercial vehicle production in emerging markets. Some of the factors impacting the market are expansion of packaging industry, high potential for the growth of bio-based MEG, and shifting costs of raw materials.



MEG is used to produce PET (polyethylene terephthalate) resin, which is widely used for packaging applications, such as bottles for beverages and food products. Increased consumer demand for packaged goods and beverages drives MEG demand. PET resin, derived from MEG, is commonly used to produce bottles, containers, and packaging materials for various industries, including personal care products, food and beverages, pharmaceuticals, and more. The growth of these sectors directly drives demand for PET and, consequently, MEG. PET containers are used for packaging pharmaceuticals, vitamins, and healthcare products. The pharmaceutical and healthcare industries’ expansion contributes to the demand for MEG-based packaging materials. The expansion of the packaging industry, driven by factors such as consumer preferences, e-commerce, sustainability initiatives, and economic growth, plays a crucial role in uplifting the market. Additionally, Bio-based MEG production typically has a lower carbon footprint than conventional MEG production, which relies on fossil fuels. This reduction in greenhouse gas emissions aligns with global efforts to combat climate change. Consumers are increasingly seeking sustainable and eco-friendly products. Bio-based MEG produce sustainable materials, such as bio-based PET, which appeals to environmentally conscious consumers. Advances in biotechnology and bioengineering have improved the efficiency of bio-based chemical production processes, making them more cost-effective and scalable. As technology advances, bio-based MEG is expected to become more competitive and widely adopted in various industries, contributing to the overall growth and diversification of the market.

However, sudden spikes in raw material prices disrupt the supply chain as manufacturers struggle to secure a consistent and affordable ethylene supply. This led to production delays and increased lead times. Long-term supply agreements and contracts lock in prices for ethylene and other raw materials. However, when market prices fluctuate significantly, these agreements become less favorable for one party, potentially leading to renegotiations or disputes. Rapid changes in raw material prices leads demand-supply imbalances in the market. Manufacturers reduce or increase production in response to changing costs, which affect the availability of MEG for consumers.

Application Outlook

By application, the market is categorized into polyethylene terephthalate (PET), polyester fibers, antifreeze, and others. In 2022, the polyethylene terephthalate (PET) segment held the highest revenue share in the market. PET is a synthetic polymer primarily used to produce plastic bottles and containers for beverages, food, personal care products, and more. Most PET production involves the polymerization of MEG with terephthalic acid (or its dimethyl ester, dimethyl terephthalate, DMT). The market and the PET demand are interconnected. Changes in demand for PET products, such as PET bottles for beverages or polyester fibers for textiles, influence the demand for MEG. Conversely, fluctuations in MEG prices or availability affect the cost and supply of PET resin. The demand for PET has been growing steadily due to its versatile applications, especially in the packaging industry. The beverage and food sectors, in particular, are significant consumers of PET bottles. Emerging economies with expanding consumer markets have driven the demand for PET.

End-use Outlook

Based on end-use, the market is classified into packaging, textile, automotive, plastics, and others. In 2022, the packaging segment witnessed a substantial revenue share in the market. MEG is also used in the production of PET containers for food packaging. PET containers are used for packaging various food products, including sauces, condiments, salad dressings, and more. As consumer preferences shift towards packaged and ready-to-eat foods, the demand for MEG-based packaging materials increases. The demand for packaging materials to ship products to customers has grown due to the expansion of e-commerce. PET bottles and containers are used for packaging various items bought online, from beverages to personal care products. The e-commerce boom contributes to higher MEG consumption.

Regional Outlook

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. The Asia-Pacific region, particularly countries like China and India, has witnessed rapid industrialization and economic growth. This growth has driven demand for various industrial products, including textiles, automotive components, packaging materials, and more, all rely on MEG and have become a significant hub for automotive manufacturing and sales. The production of vehicles, including passenger and commercial vehicles, has surged in countries like China and India. MEG is used in automotive antifreeze and coolant formulations, supporting the growth of the automotive sector.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Shell plc, LyondellBasell N.V., India Glycols Limited, SABIC, UPM Biochemicals, Kimia Pars Shayankar Co., Arham Petrochem Private Limited, Indian Oil Corporation Ltd., Pon Pure Chemicals Group, and ACURO ORGANICS LIMITED.

Scope of the Study

Market Segments Covered in the Report:

By End-Use (Volume, Kio Tonnes, USD Million, 2019-2030)
  • Textile
  • Packaging
  • Automotive
  • Plastics
  • Others
By Application (Volume, Kio Tonnes, USD Million, 2019-2030)
  • Polyethylene Terephthalate (PET)
  • Antifreeze
  • Polyester Fibers
  • Others
By Geography (Volume, Kio Tonnes, USD Million, 2019-2030)
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • Shell plc
  • LyondellBasell N.V.
  • India Glycols Limited
  • SABIC
  • UPM Biochemicals
  • Kimia Pars Shayankar Co.
  • Arham Petrochem Private Limited
  • Indian Oil Corporation Ltd.
  • Pon Pure Chemicals Group
  • ACURO ORGANICS LIMITED

Unique Offerings

  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Assured post sales research support with 10% customization free

Table of Contents

Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Monoethylene Glycol Market, by End-Use
1.4.2 Global Monoethylene Glycol Market, by Application
1.4.3 Global Monoethylene Glycol Market, by Geography
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter Five Forces Analysis
Chapter 4. Global Monoethylene Glycol Market by End-Use
4.1 Global Textile Market by Region
4.2 Global Packaging Market by Region
4.3 Global Automotive Market by Region
4.4 Global Plastics Market by Region
4.5 Global Others Market by Region
Chapter 5. Global Monoethylene Glycol Market by Application
5.1 Global Polyethylene Terephthalate (PET) Market by Region
5.2 Global Antifreeze Market by Region
5.3 Global Polyester Fibers Market by Region
5.4 Global Others Market by Region
Chapter 6. Global Monoethylene Glycol Market by Region
6.1 North America Monoethylene Glycol Market
6.1.1 North America Monoethylene Glycol Market by End-Use
6.1.1.1 North America Textile Market by Country
6.1.1.2 North America Packaging Market by Country
6.1.1.3 North America Automotive Market by Country
6.1.1.4 North America Plastics Market by Country
6.1.1.5 North America Others Market by Country
6.1.2 North America Monoethylene Glycol Market by Application
6.1.2.1 North America Polyethylene Terephthalate (PET) Market by Country
6.1.2.2 North America Antifreeze Market by Country
6.1.2.3 North America Polyester Fibers Market by Country
6.1.2.4 North America Others Market by Country
6.1.3 North America Monoethylene Glycol Market by Country
6.1.3.1 US Monoethylene Glycol Market
6.1.3.1.1 US Monoethylene Glycol Market by End-Use
6.1.3.1.2 US Monoethylene Glycol Market by Application
6.1.3.2 Canada Monoethylene Glycol Market
6.1.3.2.1 Canada Monoethylene Glycol Market by End-Use
6.1.3.2.2 Canada Monoethylene Glycol Market by Application
6.1.3.3 Mexico Monoethylene Glycol Market
6.1.3.3.1 Mexico Monoethylene Glycol Market by End-Use
6.1.3.3.2 Mexico Monoethylene Glycol Market by Application
6.1.3.4 Rest of North America Monoethylene Glycol Market
6.1.3.4.1 Rest of North America Monoethylene Glycol Market by End-Use
6.1.3.4.2 Rest of North America Monoethylene Glycol Market by Application
6.2 Europe Monoethylene Glycol Market
6.2.1 Europe Monoethylene Glycol Market by End-Use
6.2.1.1 Europe Textile Market by Country
6.2.1.2 Europe Packaging Market by Country
6.2.1.3 Europe Automotive Market by Country
6.2.1.4 Europe Plastics Market by Country
6.2.1.5 Europe Others Market by Country
6.2.2 Europe Monoethylene Glycol Market by Application
6.2.2.1 Europe Polyethylene Terephthalate (PET) Market by Country
6.2.2.2 Europe Antifreeze Market by Country
6.2.2.3 Europe Polyester Fibers Market by Country
6.2.2.4 Europe Others Market by Country
6.2.3 Europe Monoethylene Glycol Market by Country
6.2.3.1 Germany Monoethylene Glycol Market
6.2.3.1.1 Germany Monoethylene Glycol Market by End-Use
6.2.3.1.2 Germany Monoethylene Glycol Market by Application
6.2.3.2 UK Monoethylene Glycol Market
6.2.3.2.1 UK Monoethylene Glycol Market by End-Use
6.2.3.2.2 UK Monoethylene Glycol Market by Application
6.2.3.3 France Monoethylene Glycol Market
6.2.3.3.1 France Monoethylene Glycol Market by End-Use
6.2.3.3.2 France Monoethylene Glycol Market by Application
6.2.3.4 Russia Monoethylene Glycol Market
6.2.3.4.1 Russia Monoethylene Glycol Market by End-Use
6.2.3.4.2 Russia Monoethylene Glycol Market by Application
6.2.3.5 Spain Monoethylene Glycol Market
6.2.3.5.1 Spain Monoethylene Glycol Market by End-Use
6.2.3.5.2 Spain Monoethylene Glycol Market by Application
6.2.3.6 Italy Monoethylene Glycol Market
6.2.3.6.1 Italy Monoethylene Glycol Market by End-Use
6.2.3.6.2 Italy Monoethylene Glycol Market by Application
6.2.3.7 Rest of Europe Monoethylene Glycol Market
6.2.3.7.1 Rest of Europe Monoethylene Glycol Market by End-Use
6.2.3.7.2 Rest of Europe Monoethylene Glycol Market by Application
6.3 Asia Pacific Monoethylene Glycol Market
6.3.1 Asia Pacific Monoethylene Glycol Market by End-Use
6.3.1.1 Asia Pacific Textile Market by Country
6.3.1.2 Asia Pacific Packaging Market by Country
6.3.1.3 Asia Pacific Automotive Market by Country
6.3.1.4 Asia Pacific Plastics Market by Country
6.3.1.5 Asia Pacific Others Market by Country
6.3.2 Asia Pacific Monoethylene Glycol Market by Application
6.3.2.1 Asia Pacific Polyethylene Terephthalate (PET) Market by Country
6.3.2.2 Asia Pacific Antifreeze Market by Country
6.3.2.3 Asia Pacific Polyester Fibers Market by Country
6.3.2.4 Asia Pacific Others Market by Country
6.3.3 Asia Pacific Monoethylene Glycol Market by Country
6.3.3.1 China Monoethylene Glycol Market
6.3.3.1.1 China Monoethylene Glycol Market by End-Use
6.3.3.1.2 China Monoethylene Glycol Market by Application
6.3.3.2 India Monoethylene Glycol Market
6.3.3.2.1 India Monoethylene Glycol Market by End-Use
6.3.3.2.2 India Monoethylene Glycol Market by Application
6.3.3.3 Japan Monoethylene Glycol Market
6.3.3.3.1 Japan Monoethylene Glycol Market by End-Use
6.3.3.3.2 Japan Monoethylene Glycol Market by Application
6.3.3.4 South Korea Monoethylene Glycol Market
6.3.3.4.1 South Korea Monoethylene Glycol Market by End-Use
6.3.3.4.2 South Korea Monoethylene Glycol Market by Application
6.3.3.5 Singapore Monoethylene Glycol Market
6.3.3.5.1 Singapore Monoethylene Glycol Market by End-Use
6.3.3.5.2 Singapore Monoethylene Glycol Market by Application
6.3.3.6 Malaysia Monoethylene Glycol Market
6.3.3.6.1 Malaysia Monoethylene Glycol Market by End-Use
6.3.3.6.2 Malaysia Monoethylene Glycol Market by Application
6.3.3.7 Rest of Asia Pacific Monoethylene Glycol Market
6.3.3.7.1 Rest of Asia Pacific Monoethylene Glycol Market by End-Use
6.3.3.7.2 Rest of Asia Pacific Monoethylene Glycol Market by Application
6.4 LAMEA Monoethylene Glycol Market
6.4.1 LAMEA Monoethylene Glycol Market by End-Use
6.4.1.1 LAMEA Textile Market by Country
6.4.1.2 LAMEA Packaging Market by Country
6.4.1.3 LAMEA Automotive Market by Country
6.4.1.4 LAMEA Plastics Market by Country
6.4.1.5 LAMEA Others Market by Country
6.4.2 LAMEA Monoethylene Glycol Market by Application
6.4.2.1 LAMEA Polyethylene Terephthalate (PET) Market by Country
6.4.2.2 LAMEA Antifreeze Market by Country
6.4.2.3 LAMEA Polyester Fibers Market by Country
6.4.2.4 LAMEA Others Market by Country
6.4.3 LAMEA Monoethylene Glycol Market by Country
6.4.3.1 Brazil Monoethylene Glycol Market
6.4.3.1.1 Brazil Monoethylene Glycol Market by End-Use
6.4.3.1.2 Brazil Monoethylene Glycol Market by Application
6.4.3.2 Argentina Monoethylene Glycol Market
6.4.3.2.1 Argentina Monoethylene Glycol Market by End-Use
6.4.3.2.2 Argentina Monoethylene Glycol Market by Application
6.4.3.3 UAE Monoethylene Glycol Market
6.4.3.3.1 UAE Monoethylene Glycol Market by End-Use
6.4.3.3.2 UAE Monoethylene Glycol Market by Application
6.4.3.4 Saudi Arabia Monoethylene Glycol Market
6.4.3.4.1 Saudi Arabia Monoethylene Glycol Market by End-Use
6.4.3.4.2 Saudi Arabia Monoethylene Glycol Market by Application
6.4.3.5 South Africa Monoethylene Glycol Market
6.4.3.5.1 South Africa Monoethylene Glycol Market by End-Use
6.4.3.5.2 South Africa Monoethylene Glycol Market by Application
6.4.3.6 Nigeria Monoethylene Glycol Market
6.4.3.6.1 Nigeria Monoethylene Glycol Market by End-Use
6.4.3.6.2 Nigeria Monoethylene Glycol Market by Application
6.4.3.7 Rest of LAMEA Monoethylene Glycol Market
6.4.3.7.1 Rest of LAMEA Monoethylene Glycol Market by End-Use
6.4.3.7.2 Rest of LAMEA Monoethylene Glycol Market by Application
Chapter 7. Company Profiles
7.1 LyondellBasell Industries Holdings B.V.
7.1.1 Company Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research & Development Expenses
7.1.5 SWOT Analysis
7.2 India Glycols Limited
7.2.1 Company Overview
7.2.2 Financial Analysis
7.2.3 Segmental and Regional Analysis
7.2.4 Research & Development Expenses
7.2.5 Swot Analysis
7.3 SABIC (Saudi Arabian Oil Company)
7.3.1 Company Overview
7.3.2 Financial Analysis
7.3.3 Segmental and Regional Analysis
7.3.4 SWOT Analysis
7.4 Shell Plc
7.4.1 Company Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research & Development Expenses
7.4.5 SWOT Analysis
7.5 Kimia Pars Shayankar Co.
7.5.1 Company Overview
7.5.2 SWOT Analysis
7.6 Indian Oil Corporation Ltd.
7.6.1 Company Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research & Development Expenses
7.6.5 SWOT Analysis
7.7 UPM Biochemicals
7.7.1 Company Overview
7.7.2 Financial Analysis
7.7.3 Research & Development Expenses
7.7.4 Recent strategies and developments:
7.7.4.1 Partnerships, Collaborations, and Agreements:
7.7.5 SWOT Analysis
7.8 Arham Petrochem Private Limited
7.8.1 Company Overview
7.8.2 SWOT Analysis
7.9 Pon Pure Chemicals Group (Pure Chemicals Co)
7.9.1 Company Overview
7.9.2 SWOT Analysis
7.10. ACURO ORGANICS LIMITED
7.10.1 Company Overview
7.10.2 SWOT Analysis
Chapter 8. Winning Imperatives of Monoethylene Glycol Market

Companies Mentioned

  • Shell plc
  • LyondellBasell N.V.
  • India Glycols Limited
  • SABIC
  • UPM Biochemicals
  • Kimia Pars Shayankar Co.
  • Arham Petrochem Private Limited
  • Indian Oil Corporation Ltd.
  • Pon Pure Chemicals Group
  • ACURO ORGANICS LIMITED

Methodology

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