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Published Date: 2015-08-18Number of Pages: 121

Monoethylene Glycol (MEG) Market for Polyester Fiber, Polyethylene Terephthalate (PET), Antifreeze, and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023


Monoethylene glycol is a colorless, odorless, and barely viscous liquid that is miscible in water, aldehydes, alcohols, and many other organic compounds. It is an organic compound used primarily as a raw material in the manufacture of polyethylene terephthalate resins (PET), which are employed in bottles and polyester fibers in the fabric industry. It cannot dissolve heavy petroleum and vegetable oils, cellulose acetate, and rubber. Monoethylene glycol is low volatile and hygroscopic compared to glycerol at room temperature. Monoethylene glycol in its pure form is a colorless liquid with sweet taste. Ethylene glycol production is carried out from ethylene through the intermediate ethylene oxide. 

This report provides detailed analysis and forecast of the monoethylene glycol (MEG) market on a global and regional level from 2015 to 2023. On the global level, the market has been segmented based on volume (kilo tons) and revenue (US$ Mn) from 2015 to 2023. In order to provide in-depth understanding of the market at the regional level, the demand for monoethylene glycol has been forecast in terms of volume (kilo tons) and revenue (US$ Mn) from 2015 to 2023. The report includes drivers and restraints, and their impact on market growth during the forecast period. Furthermore, the study encompasses various opportunities for market growth at the global and regional level.

The report thoroughly analyzes the value chain to provide detailed understanding of the market. Additionally, it covers Porter’s Five Forces model, which offers an insight into the intensity of competition in the market. The study also comprises market attractiveness analysis, wherein various end-users are benchmarked based on their market size, growth rate, and general attractiveness.
We conducted in-depth interviews and discussions with numerous key industry participants and opinion leaders for the research report. Primary research represents the bulk of our research efforts coupled with an extensive secondary research. We reviewed key players’ annual reports, product portfolio, press releases, and relevant documents for competitive analysis and better understanding of the market. Secondary research includes in-depth research on current trends, technical writing, recent trade, Internet sources, trade associations, and statistical data from government websites and associated and authorized agency websites. This proved to be the most successful, effective, and reliable approach for obtaining concise data, capturing industry participants’ insights, and recognizing opportunities and growth.

Inflation is not a part of pricing in this report. This report provides the size of the monoethylene glycol market for 2014 and forecast for the next eight years (from 2015 to 2023). The global market size of monoethylene glycol is presented in terms of volume and revenue. Market volume and revenue have been estimated and forecast in kilo tons and US$ Mn, respectively. Market numbers are estimated on the basis of various key applications of monoethylene glycol. Market size and forecast of each segment is provided in the context of the global as well as regional markets. 

The market has been segmented based on various applications. Each segment has been analyzed and forecast based on volume (kilo tons) and revenue (US$ Mn) from 2015 to 2023. Additionally, the segments have been analyzed and forecast based on current trends at the global and regional level. Geographically, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA). Demand has been analyzed and forecast based on the current trends for the period of eight years. 

The report includes profiles of leading companies such as Saudi Arabia Basic Industries Corporation (SABIC), Royal Dutch Shell plc, Reliance Industries Limited, Nan Ya Plastics Corporation, Mitsubishi Chemical Corporation (MCC), BASF SE, The Dow Chemical Company, and LyondellBasell Industries N.V. The market has been segmented as below:
Monoethylene Glycol (MEG) Market - Application Analysis 
  • Polyester Fiber
  • Polyethylene Terephthalate (PET)
  • Antifreeze 
  • Others (Including Intermediate Chemicals)
Monoethylene Glycol (MEG) Market - Regional Analysis
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa (MEA)


Chapter 1 Preface
1.1 Report Description
1.2 Research Scope & Assumptions
1.3 Market Segmentation
1.4 Research Methodology

Chapter 2 Executive Summary
2.1 Global MEG Market, 2010-2025, (Kilo Tons) (US$ Mn)
2.2 MEG: Market Snapshot (2014 and 2023)

Chapter 3 MEG Market: Industry Analysis
3.1 Introduction
3.2 Value Chain Analysis
3.3 Market Drivers
      3.3.1 Rising demand for polyester fiber in Asia Pacific
      3.3.2 Increasing production of polyethylene terephthalate (PET)
3.4 Restraints
      3.4.1 Fluctuating prices of feedstock materials
3.5 Opportunity
      3.5.1 Bio-based Monoethylene Glycol (MEG)
      3.5.2 Emerging Application in Solar Panels
3.6 Porter’s Five Forces Analysis
      3.6.1 Bargaining Power of Suppliers
      3.6.2 Bargaining Power of Buyers
      3.6.3 Threat of Substitutes
      3.6.4 Threat of New Entrants
      3.6.5 Degree of Competition
3.7 Market Attractiveness Analysis
3.8 Company Market Share Analysis, 2014

Chapter 4 Price Trend Analysis
4.1 MEG: Global Price Trends, 2010-2023

Chapter 5 MEG Market – Application Analysis
5.1 Global MEG Market: Application Overview
      5.1.1 Global MEG Market Volume Share, by Application, 2014 and 2023
5.2 MEG Market: By Application
      5.2.1 Global MEG Market for Polyester Fiber, 2014 – 2023 (Kilo Tons) (US$ Mn)
      5.2.2 Global MEG Market for PET, 2014 – 2023 (Kilo Tons) (US$ Mn)
      5.2.3 Global MEG Market for Antifreeze, 2014 – 2023 (Kilo Tons) (US$ Mn)
      5.2.4 Global MEG Market for Others, 2014 – 2023 (Kilo Tons) (US$ Mn)

Chapter 6 MEG Market: Regional Analysis
6.1 Global MEG Market - Regional Overview
      6.1.1 Global MEG Market Share Volume, by Region, 2014-2023
6.2 North America
      6.2.1 North America MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.2.2 North America MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.2.3 US MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.2.4 US MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.2.5 Canada MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.2.6 Canada MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.2.7 Mexico MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.2.8 Mexico MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
6.3 Europe
      6.3.1 Europe MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.3.2 Europe MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.3.3 Germany MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.3.4 Germany MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.3.5 Turkey MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.3.6 Turkey MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.3.7 U.K. MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.3.8 U.K. MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.3.9 France MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.3.10 France MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.3.11 Italy MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.3.12 Italy MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.3.13 Rest of Europe MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.3.14 Rest of Europe MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
6.4 Asia Pacific
      6.4.1 Asia Pacific MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.4.2 Asia Pacific MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.4.3 China MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.4.4 China MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.4.5 India MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.4.6 India MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.4.7 ASEAN MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.4.8 ASEAN MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.4.9 Rest of Asia Pacific MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.4.10 Rest of Asia Pacific MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
6.5 Latin America
      6.5.1 Latin America MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.5.2 Latin America MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.5.3 Brazil MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.5.4 Brazil MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.5.5 Rest of Latin America MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.5.6 Rest of Latin America MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
6.6 Middle East and Africa (MEA)
      6.6.1 MEA MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.6.2 MEA MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.6.3 GCC MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.6.4 GCC MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.6.5 South Africa MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.6.6 South Africa MEG Market Revenue, by Application, 2010-2023 (US$ Mn)
      6.6.7 Rest of MEA MEG Market Volume, by Application, 2010-2023 (Kilo Tons)
      6.6.8 Rest of MEA MEG Market Revenue, by Application, 2010-2023 (US$ Mn)

Chapter 7 MEG Market: Production Analysis, 2014

Chapter 8 Company Profiles
8.1 Royal Dutch Shell plc
      8.1.1 Company Overview
      8.1.2 Product Portfolio
      8.1.3 Financial Overview
      8.1.4 Business Strategy
      8.1.5 Recent Development
8.2 Reliance Industries Limited 
      8.2.1 Company Overview
      8.2.2 Product Portfolio
      8.2.3 Financial Overview
      8.2.4 Business Strategy
      8.2.5 Recent Development
8.3 Saudi Basic Industries Corporation (SABIC)
      8.3.1 Company Overview
      8.3.2 Product Portfolio
      8.3.3 Financial Overview
      8.3.4 Business Strategy
      8.3.5 Recent Development
8.4 BASF SE
      8.4.1 Company Overview
      8.4.2 Product Portfolio
      8.4.3 Financial Overview
      8.4.4 Business Strategy
      8.4.5 Recent Development
8.5 Mitsubishi Chemical Corporation (MCC)
      8.5.1 Company Overview
      8.5.2 Product Portfolio
      8.5.3 Financial Overview
      8.5.4 Business Strategy
      8.5.5 Recent Development
8.6 Nan Ya Plastics Corporation
      8.6.1 Company Overview
      8.6.2 Product Portfolio
      8.6.3 Financial Overview
      8.6.4 Business Strategy
      8.6.5 Recent Development
8.7 Lotte Chemical Corporation
      8.7.1 Company Overview
      8.7.2 Product Portfolio
      8.7.3 Financial Overview
      8.7.4 Business Strategy
      8.7.5 Recent Development
8.8 The Dow Chemical Company
      8.8.1 Company Overview
      8.8.2 Product Portfolio
      8.8.3 Financial Overview
      8.8.4 Business Strategy
      8.8.5 Recent Development
8.9 Sinopec Zhenhai Refining & Chemical Company (ZRCC)
      8.9.1 Company Overview
      8.9.2 Product Portfolio
      8.9.3 Financial Overview
      8.9.4 Business Strategy
      8.9.5 Recent Development
8.10. LyondellBasell Industries N.V.
      8.10.1 Company Overview
      8.10.2 Product Portfolio
      8.10.3 Financial Overview
      8.10.4 Business Strategy
      8.10.5 Recent Development
8.11 Others

Chapter 9 Primary Research – Key Findings

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Monoethylene glycol (MEG) is produced from ethylene, a downstream product of crude oil and natural gas. Ethylene-intermediator ethylene oxide is hydrated to monoethylene glycol. The monoethylene glycol market is expected to expand significantly due to strong growth of polyethylene terephthalate (PET) in the packaging industry coupled with increasing production of polyester fibers in Asia Pacific. Based on major applications, the monoethylene glycol market can be classified into polyester fiber, polyethylene terephthalate (PET) films, antifreeze, and other applications such as intermediate chemicals. Polyester fiber is the largest application of the monoethylene glycol (MEG) market. Demand for monoethylene glycol was the highest in emerging economies in Asia Pacific in 2014. The demand in Asia Pacific accounted for more than 60% of the global demand for monoethylene glycol. However, demand for monoethylene glycol is rising at a sluggish pace in mature economies in North America and Europe, owing to the sustainability issue related to monoethylene glycol-based products. 

High degree of forward integration from raw material manufacturers exists in the value chain of the monoethylene market. Several key players are engaged in the manufacture of raw materials. Monoethylene glycol is manufactured from ethylene, a downstream product of crude oil. Hence, oil and gas companies such as Royal Dutch Shell plc and Reliance Industries Limited are involved in the production of raw materials. Royal Dutch Shell plc and Reliance Industries Limited are also engaged in the production of monoethylene glycol as part of their downstream process. Saudi Arabia Basic Industries Corporation (SABIC) is the largest player in the monoethylene glycol market. It is a forward integrated company. SABIC utilizes its monoethylene glycol in the manufacturing process of plastic films at its existing plants. Some major chemical companies also manufacture monoethylene glycol. Other key manufacturers include Nan Ya Plastics Corporation, Mitsubishi Chemical Corporation (MCC), BASF SE, and The Dow Chemical Company.

Fluctuation in prices of raw materials is expected to be the key restraint in the monoethylene glycol market. Exploration of shale gas and environmental factors related to usage of coal as a raw material are anticipated to lead to further fluctuations in prices of feedstock. This is considered a primary restraining factor for the monoethylene glycol market. Fluctuation in prices leads to unpredictable supply. This hamper the manufacturing process. Thus, fluctuation in prices of raw materials can be a major setback for the monoethylene glycol market. Prices of products of monoethylene glycol differ; polyester grade monoethylene glycol costs marginally higher than film and sheets products. In terms of region, prices of monoethylene glycol are the highest in Europe, followed by North America, Latin America, the Middle East, and Asia Pacific. The monoethylene glycol market in Asia Pacific has witnessed large capacity additions in the last few years. Thus, companies operating in the region can sell products at competitive prices.  

In terms of region, Asia Pacific was the largest segment of the monoethylene glycol market in 2014. Growth in the region is primarily driven by China; however, demand for monoethylene glycol is also increasing steadily in India and Taiwan. Furthermore, demand for monoethylene glycol is estimated to rise significantly in Middle East and Africa. Saudi Arabia is one of the largest producers of monoethylene glycol primarily owing to the steady supply of raw materials. The packaging industry is expanding significantly in Brazil. This is projected to drive the demand for monoethylene glycol for polyethylene terephthalate (PET) films in Latin America.  

The report includes profiles of leading companies such as Saudi Arabia Basic Industries Corporation (SABIC), Royal Dutch Shell plc, Reliance Industries Limited, Nan Ya Plastics Corporation, Mitsubishi Chemical Corporation (MCC), BASF SE, The Dow Chemical Company, and LyondellBasell Industries N.V. 

monoethylene-glycol-market


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