Monoethylene is a colorless, odorless liquid which is known as the daughter product of ethylene oxide. Diethylene oxide and triethylene dioxide are the coproducts obtained in the manufacturing process of monoethylene glycol. Monoethylene glycol is widely used in various end-user industries. The major applications of monoethylene glycol range from textile industry to packaging industry. It is used as a raw material in the manufacture of polyethylene terephthalate (PET), polyester fiber and coolant & antifreeze among others. Hence high demand is reported from various end-user industries worldwide.
Asia Pacific accounted for the largest share of global monoethylene glycol market in 2016. China is known as the global textile manufacturer. Polyester is manufactured using monoethylene glycol. These fibers are used on a large scale in the textile industry to manufacture casual wear and sportswear among other apparels. Hence, high demand from the textile industry is boosting growth of monoethylene glycol in the global market. Polyethylene terephthalate accounted as the fastest growing application of MEG in the market. PET is majorly used in the manufacture of bottles and packaging products. Therefore, growing packaging industry and high consumption of PET in this industry is driving the growth of global monoethylene glycol in the market. Monoethylene glycol is also projected to experience growing demand from the automotive industry. It is used in manufacturing automotive coolant and antifreeze. It is also used as a deicing agent in the snowy areas worldwide. Hence, high demand from various end-user industries for different applications has led to growth of global monoethylene glycol market.
Monoethylene glycol (MEG) market is expected to reach over US$ 37.5 Bn by 2023, growing at a CAGR of 6.0% during the forecast period 2016-2021.
Purpose of the Report
The purpose of this strategic research study titled “Global Monoethylene glycol (MEG) Market - Growth, Share, Opportunities, and Competitive Analysis, 2014 – 2021” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global monoethylene glycol (MEG) market.
Target Audience
USP and Key Offerings
The report titled “Global Monoethylene glycol (MEG) Market - Growth, Share, Opportunities, and Competitive Analysis, 2014 – 2021” offers strategic insights into the global monoethylene glycol (MEG) market along with the market size and estimates for the duration 2014 to 2021. The said research study covers in-depth analysis of multiple market segments based on applications, functions and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading monoethylene glycol (MEG) vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:
Overall, the research study provides a holistic view of the global monoethylene glycol (MEG) market, of growth, offering market size and estimates for the period from 2014 to 2021, keeping in mind the above mentioned factors.
Monoethylene glycol is an odorless, colorless and barely viscous liquid which is miscible in aldehydes, water, alcohol and various other organic compounds but not miscible in vegetable oils, rubber and cellulose acetate. On the basis of application, Monoethylene glycol is segmented into polyester Terephthalate, polyester resin, coolants & antifreeze and others. Polyester resins accounted for major share of global Monoethylene glycol market in 2016 and is expected to retain its position in the near future. It is the largest synthetic fibre which is used in the textile industry. Polyester is known be a substitute for growing demand of fibers in the market. Monoethylene glycol is used as a raw material in the production of polyethylene terephthalate (PET) resins which are further used in the manufacture of polyester fabrics and bottles. Growing demand for PET bottles and containers from various end-user industries worldwide is driving the demand for polyethylene terephthalate in the market. This makes PET the fastest growing application segment of global monoethylene glycol market. Monoethylene glycol is used also used as a coolant & antifreeze agent for industrial applications. They are usually used for making automotive coolant and aircraft deicing materials. Other applications such as intermediate chemicals and heat transfer fluids are also anticipated to boost market demand for monoethylene glycol during the forecast period from 2015 to 2023.
Asia Pacific dominated the global Monoethylene Glycol (MEG) market in 2016. Growing demand for monoethylene glycol from emerging countries in the region such as China and India has led to growth of global monoethylene glycol market. China holds the major share as producer of textiles globally. It is known as textile hub of the world. Hence, high demand is observed for polyester resins from the textile industry in the region. India is also anticipated to boost market demand due to growing number of textile industries in the region. Europe and North America are expected to experience steady demand for MEG as monoethylene glycol production is shifting from these regions to the developing economies such as Asia Pacific and the Middle East & Africa. High competition for monoethylene glycol is reported in Middle East due to increasing number of MEG producers in the region. Increasing demand for MEG from various end-user industries such as textile and packaging industry are driving the growth of global MEG market and is projected to increase during the forecast period from 2015 to 2023.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Monoethylene Glycol (Meg) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
