Global Monoethylene Glycol (MEG) Market (2022 Edition): Analysis By Application, End User, By Region, By Country (2022 Edition): Market Insights and Forecast with Impact of COVID-19 (2023-2028)
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Executive Summary
According to a research report published by Azoth Analytics, the Global Monoethylene Glycol Market was valued at USD 27.2 Billion in the year 2022. The organic molecule mono ethylene glycol, commonly known as MEG, EG, 1, 2-ethanediol, or 1, 2-dihydroxyethane, has the chemical formula C2H6O2.
Currently, MEG is mainly produced from fossil fuels, using ethylene as the starting material, but now the market for bio-based MEG is growing strongly. This is largely driven by consumer desire for naturally derived products, the need to reduce carbon footprints and the increasing price volatility of petrochemical raw materials. The market for bio-based chemicals as a whole is growing at around 10% per annum and there is no doubt that the future of the MEG market will belong to bio-based MEG.
MEG is a clear, colourless liquid that has a slight viscosity, a sweet flavour, and almost no odour. It is largely utilized in the industry for the synthesis of polyester fibres and as a component in the creation of antifreeze, coolants, and de-icers since it is miscible with water, alcohol, and many other organic compounds.
On the basis of Application, Polyethylene terephthalate (PET) is the fastest-growing MEG Application and is expected to grow with a CAGR of 5.8% in the forecast period. On the basis of End Users, Textiles is one of the very significant end users of the MEG market in 2022. Due to their incredibly high demand for polyester fibre and polyethylene terephthalate, China and India are APAC's top monoethylene glycol consumers.
Scope of the Report
? The report analyses the Monoethylene Glycol Market by Value (USD million).
? The report analyses the Monoethylene Glycol Market by Volume (Million Metric Tonnes).
? The report presents the analysis of the Monoethylene Glycol market for the historical period of 2018-2021 and the forecast period of 2023-2028.
? The report analyses the Monoethylene Glycol Market by Application (Polyester Fiber, Polyethylene terephthalate (PET), Antifreeze, Others).
? The report analyses the Monoethylene Glycol Market by End User (Textile, Plastic and Packaging, Automotive and Transportation, Others).
? The Global Monoethylene Glycol Market has been analysed by countries (United States, Canada, Germany, UK, France, Italy, China, India, Japan, South Korea).
? The key insights of the report have been presented through the frameworks of market share and recent developments. Also, the attractiveness of the market has been presented by region.
? Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
? The report tracks competitive developments, strategies, Volume Analysis, Cost Analysis, mergers and acquisitions and new product development. The companies analysed in the report include BASF SE, Lyondellbasell Industries N.V., SABIC, Shell Chemicals, Lotte Chemicals, Dow Chemical Company, AkzoNobel, Exxon Mobil Corporation, Huntsman Corporation, and China National Petroleum Corporation.
Key Target Audience
? Monoethylene Glycol Industry Vendors
? Chemical Companies
? Consulting and Advisory Firms
? Government and Policy Makers
? Regulatory Authorities
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