“We have produced a new premium report Monoethylene Glycol Market. The report covers the analysis of global as well as regional markets of Monoethylene Glycol. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Monoethylene Glycol Market by grades (polyester grade, industrial grade, antifreeze grade and low conductivity grade), by applications (polyester resin, polyester fibers, antifreeze & coolants, chemical intermediates, heat transfer fluids) through main geographies in the global market such as North America, Europe, Asia-Pacific and RoW. The global monoethylene glycol market is projected to grow with a CAGR between 6.0% and 6.5% during 2017-2023.
The report covers market changing dynamics including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Monoethylene Glycol Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Monoethylene Glycol Market are Sabic, The Dow Chemical Company, Royal Dutch Shell Plc, Reliance Industries Limited, Nan YA Plastics (Huizhou), Zhenhai Refining & Chemicals, BASF SE, ExxonmobilCorportion, Formosa Plastic Group, Akzonobel, Lyondellbasell, Meglobal and Honam Petrochemical Corporation.”
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Increasing Demand for Polyester Fiber and Polyethylene Terephthalate from the Global Textile Industry Has Driving the Growth of Monoethylene Glycol Market
The global Monoethylene glycol market was sized over USD 25 billion in 2015. The global Monoethylene glycol market is projected to grow with a CAGR between 6.0% and 6.5% during 2017-2023. Increasing demand of mono ethylene glycol in end use industries such as consumer goods, construction, automotive, pharmaceutical, textiles and chemical remains the key factor driving the growth of global mono ethylene glycol market. In addition, increasing use of mono ethylene glycol in polyester fiber and polyethylene terephthalate is likely to drive the growth of market. Furthermore, rapid urbanization and changing lifestyle of consumers especially in emerging economies such as China, India, Mexico and Brazil has been driving the polyethylene terephthalate, one of the key materials used in packaging sector which in turn is projected to boost the global mono ethylene glycol market over the forecast period. Moreover, fluctuation in prices of raw materials and sustainability issues related to mono ethylene glycol are the key factors restraining the growth of this market. Increasing popularity of bio based MEG and increasing R&D of ecofriendly alternatives that can help in removing the toxic nature of mono ethylene glycol are likely to bring more opportunities to this market.
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Segments Covered in this Premium Report
The report segments the monoethylene glycol market by grades and by applications. Monoethylene glycol market segmentation based on different grades include polyester grade, industrial grade, antifreeze grade and low conductivity grade. Moreover, the global Monoethylene glycol market based on application is segmented into polyester resin, polyester fibers, antifreeze & coolants, chemical intermediates, heat transfer fluids and others.
Asia Pacific Was the Largest Market among the Geographies Due To Consumption of Nearly Half of the Global Mono Ethylene Glycol
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023. Furthermore, Asia Pacific is expected to continue its dominance and is anticipated to grow at the highest CAGR rate over the forecast period due to rapid growth of end use industries such as automobile, packaging, and textile in China, India and South Korea. Following the Asia Pacific Region, North America and Europe were also accounted to have a strong hold on global mono ethylene glycol market. Furthermore, these regions are expected to have a moderate growth rate over the forecast period owing to their serial recovery from the economic slowdown. Moreover, Latin America (covered in row region) is expected to grow gradually over the forecast period due to rapid industrialization and changing lifestyle of the consumers in Brazil and other countries.
The companies covered in the report include Sabic, The Dow Chemical Company, Royal Dutch Shell Plc, Reliance Industries Limited, Nan YA Plastics (Huizhou), Zhenhai Refining & Chemicals, BASF SE, ExxonmobilCorportion, Formosa Plastic Group, Akzonobel, Lyondellbasell, Meglobal and Honam Petrochemical Corporation.