The global demand for Monoethylene Glycol Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.Regarding volume, the market was calculated XX Kilo Tons in 2021 and forecast to touch XX Kilo Tons by 2028 with a CAGR of XX% during 2022-2028.
Monoethylene glycol is an odorless, colorless and hygroscopic liquid with low vapor and sweet taste. The chemical formula of monoethylene glycol is C2H6O2. It is mainly used as a raw material in production of polyester fibers and polyethylene terephthalate (PET) resins and engine coolants. It is also known as ethylene glycol or ethane-1,2-diol. It exhibits low volatility and low viscosity. It is miscible with water, alcohol and many other organic liquids. It is also used as an ingredient in hydraulic fluids, printing inks and paint solvents. But, it is highly poisonous when ingested by an animal or human and can make them ill or cause death.
Market Dynamics
The key factor driving the demand for monoethylene glycol market is its application in several industrial uses as a antifreeze, coolants and as a heat transfer agent. Modern fashion inclinations of the consumers for recently designed attires is uplifting the demand of polyester fibre which directly contributes to the growth of monoethylene glycol market. Increasing disposable income, drift in customer preferences and abundant availability of low-cost labor are further pushing the demand for this market. Moreover, growing use of plastic in the packaging industry is fostering the polyethylene terephthalate (PET) sector's demand, creating lucrative growth opportunities for this market. However, the health hazards related to the use of monoethylene glycol can become a restraint in the growth of this market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of monoethylene glycol. The growth and trends of monoethylene glycol industry provide a holistic approach to this study.
Market Segmentation
This section of the monoethylene glycol market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Fiber
- Pet
- Antifreeze & Coolant
- Film
- Others
By Application
- Textiles
- Packaging
- Automotive
- Chemical Processing
- Oil & Gas
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Monoethylene Glycol market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Monoethylene Glycol Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the monoethylene glycol market include Royal Dutch Shell, SABIC, AkzoNobel, The Dow Chemicals, Reliance Industries, Mitsubishi Chemical, Lotte Chemical Corporation, Sinopec Zhenhai Refining & Chemical Co., Nan Ya Plastics Corporation, MEGlobal, LyondellBasell Industries, ExxonMobil Corporation, Chemtex Speciality Limited and India Glycols. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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