“Global Monoethylene Glycol Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global monoethylene glycol market report has been segmented on the basis of application and region.
Monoethylene Glycol Market: Introduction
Monoethylene glycol is also called as ethylene glycol, is a sweet tasting, colorless, and odorless compound. Monoethylene glycol is produced from ethylene, a downstream product of crude oil and natural gas. Monoethylene glycol is important raw materials used in various industrial applications. It is widely used in production of films, fibers, and polyester resin. It is also used as a coolant material, dewatering agent, anti-corrosion agent, aircraft deicers and anti-icer, anti-freeze, and chemical intermediate.
Monoethylene glycol is majorly used in manufacturing of the PET and polyester resins. In addition, polyester fabrics are widely used in apparels, yarns and ropes, home furnishings, and other industrial applications such as insulating tapes and conveyer belts.
Monoethylene Glycol Market: Dynamics
Rising demand for monoethylene glycol products across different applications such as film and antifreeze and coolant is a major factor expected to drive growth of the target market in the next 10 years. In addition, increasing demand of monoethylene glycol for manufacturing PET and polyester resins is another factor estimated to support revenue growth of the global market over next few years.
In addition, increasing demand for monoethylene glycols from home furnishings sectors, coupled with increasing investments for development of innovative products are other key factors expected to drive growth of the global market. Moreover, demand for monoethylene glycol is increasing for manufacturing resins, heat transfer fluids, deicing fluids, automotive coolants and antifreeze, water-based adhesives, asphalt emulsions and latex paints, electrolytic capacitors, paper, textile fibers, and leather. This is another key factor expected to drive growth of the global monoethylene glycol market over the forecast period.
However, toxicity of monoethylene glycol is a major factor estimated to restraint growth of the global market to significant extent.
Monoethylene Glycol Market: Segmental Analysis
On the basis of application, polyester fiber segment is expected to register significant share in term of revenue in the global monoethylene glycol market. Polyester fibers are extensive used in various end-use industries such as electronics, textile, resins etc., owing to its exceptional chemical and mechanical characteristics. The polyethylene terephthalate segment revenue is projected to register highest CAGR, owing to shifting trends towards metal, paperboard, and wood towards plastics in the packaging industry.
Monoethylene Glycol Market: Regional Analysis
The Asia Pacific market is expected to account for major share in terms of revenue in the global monoethylene glycol market. Asia Pacific market is anticipated to register faster growth in terms of revenue over the next few years, owing to increasing adoption of monoethylene glycols compound in textile and electronics applications. Growing demand form emerging economies and changing standards of living are other key factors expected to drive growth of the applications such as fiber and PET, which in turn expected to drive growth of the Asia Pacific monoethylene glycol market.
Global monoethylene glycol market segmentation:
Segmentation by application:
- Polyester Fiber
- Polyethylene Terephthalate (PET)
- Antifreeze & Coolant
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- MEGlobal B.V.
- Shell Oil Company
- Formosa Plastics Corporation
- DowDuPont Inc.
- Reliance Industries Limited
- BASF SE
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