Scope of the Study
Monoethylene glycol (MEG) is defined as the organic compound which is syrupy liquid, colorless, odorless, with a sweet taste. It is produced from ethylene via ethylene oxide that is hydrated through the thermal or else catalytic process. It is used as antifreeze for different uses such as preserving biological tissues & organs or as de-icing fluids. It is a significant raw material for the number of industrial applications including manufacturing namely polyethylene terephthalate, manufacturing of polyester fiber, fabrics, among others. The growing use of monoethylene glycol in polyester fiber and polyethylene terephthalate industries are some of the major drivers which are propelling the growth of the market.
The market study is being classified by Type (Fiber Grade MEG, Industrial Grade MEG and Antifreeze Grade MEG), by Application (Polyester Resins, Antifreeze and Coolants, Chemical Intermediates, Heat Transfer Fluids and Others) and major geographies with country level break-up. According to AMA, the Global Mono Ethylene Glycol market is expected to see growth rate of 5.2%
SABIC (Saudi Arabia), Formosa (Taiwan), Dow Chemical International Private Limited (United States), BASF (Germany), MEGlobal (United Arab Emirates), Sinopec (China), Shell (Netherlands), Reliance (India), SIBUR (Russia) and Lotte Chemical (South Korea) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Eastman Chemical Company (United States), Exxon Mobil Corporation (United States), Huntsman Corporation (United States), Ineos Oxide (United Kingdom), Indian Oil (India), India Glycols (India), Indorama (Indonesia), Akzo Nobel (Netherlands), Clariant (Switzerland), LG Chem (South Korea), Mitsui Chemicals (Japan), Mitsubishi Chemical Corporation (Japan) and Kuwait Petroleum Corporation (Kuwait).
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global mono-ethylene glycol market can witness an upsurge in the forecast period. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Mono Ethylene Glycol market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Mono Ethylene Glycol market by Type, Application and Region.
On the basis of geography, the market of Mono Ethylene Glycol has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-Use Industries, the sub-segment i.e. Packaging will boost the Mono Ethylene Glycol market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Demand for MEG in Antifreeze and Coolant Application
- Increasing Demand for Polyester Fiber and PET
- Technology Advancement in Monoethylene Glycol
- Issue related to Toxicity of MEG
- High Potential for the Development of Bio-Based MEG
- Increasing Coal Plants in China
- Rising Demand from Emerging Economics such as China and India
- Fluctuating Raw Material Prices and High Costs Associated With the Refining of MEG
Key Target AudienceManufacturers of Mono-Ethylene Glycol, Chemical Suppliers, Traders, Distributors, and Suppliers of Mono-Ethylene Glycol, Raw Material Suppliers, Government and Research Organizations and Industry Associations
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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