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A sweet syrupy liquid, which is colorless, odorless in its purest form is known as Monoethylene glycol (MEG). Mono-ethylene Glycol (MEG) is find its usage in chemical intermediates for humectants, chemical intermediates, freezing point depression, solvents, resins, and solvent couplers.

These applications are considered crucial in the manufacturing of a wide variety of products, such as coolants and automotive antifreeze, deicing fluids, asphalt emulsions and latex paints, heat transfer fluids, resins, leather and paper, electrolytic capacitors, textile fibers, and water-based adhesives.

The global monoethylene glycol (MEG) market is estimated to rise at 6.1% CAGR over the forecast timeframe that extends from 2015 to 2023. The market attained a valuation of US$26.93 bn at the end of 2016 and is forecasted to reach a valuation of US$40.84 bn by the end of this period of forecast.

Extensive Demand for From the Textile Industry is key to Growth

The phenomenal increase in the usage of monoethylene glycol in the production of PET resins and polymer fabrics particularly in the emerging economies is a vital factor that is driving global monoethylene glycol market. The considerable requirement for polymers in the textile manufacturing industries is significant factor that is boosting the growth of global monoethylene glycol (MEG) market. The demand for polyesters is driven by the chemical and physical properties that make them fitting for the tropical climate.

In addition to the huge strides taken by the textile industry rapidly rising disposable income of the urban population in developing countries is responsible for the vital trend that supports the rapid growth of global monoethylene glycol market. The increased usage of monoethylene glycol in the manufacturing of a range of packaging and textile solutions is further stimulating the market.

Asia Pacific to Continue with its Lead due to Rising Demand for Monoethylene Glycol

Asia Pacific has, so far, occupied the leading position in the monoethylene glycol market. By the end of the forecast period, it is expected that Asia Pacific will garner around 69% of the total volume of monoethylene glycol produced globally. Taiwan, China, and India are regarded as the dominant consumetrs of monoethylene glycol, due to their significantly high need for polyethylene terephthalate and polyester fiber. 

The requirement for monoethylene glycol is also rising at a substantial rate in Latin America and Middle East and Agfrica because of growing consumption of PET and polyester.  In the meanwhile, the demand for monoethylene glycol in Europe and North America and Europe seems to be declining due to growing concerns over sustainability of the material and slow economic growth.

The top three companies in the global monoethylene glycol market Dow Chemical Company, Royal Dutch Shell Plc., and SABIC. In its findings Transparency Market Research share that these three companies accounted for a collective share of 29.3%, in the global market.

Despite considerable amount of shares being held by these market players, the global monoethylene glycol is still competitive and is still fairly fragmented. This is owing to the considerable influence produced by different indigenous and regional producers of monoethylene glycol. The global monoethylene glycol market is growingly competitive with local players relentlessly trying to overthrow the dominance of the leading international players by emphasizing on expansion of capacities. In the years to come, the intensity of competition is forecasted to grow further. TMR discovers that the threat of new entry is considerably low and is anticipated to remain so till the end of the forecast timeline. The market players must steer skillfully through strict regulatory frameworks that are prevailing in the global glycol market and also fetch enough funds to update the already existing infrastructure. 

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)

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Monoethylene Glycol Market

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