Monoethylene Glycol Market is expected to generate a revenue of USD 34.99 Billion by 2027, Globally, at 4.47% CAGR: Verified Market Research®

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Sep 30, 2022, 10:15 ET

The increasing demand for polyester fibre from the textile sector is driving the expansion of the global Monoethylene Glycol Market, as is the rise in people's standard of life.

JERSEY CITY, N.J., Sept. 30, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Monoethylene Glycol Market" By Application (Polyester Fiber, Polyethylene Terephthalate, Antifreeze & Coolant, Solvent, and Chemical Intermediate), By End-Users (Packaging, Automotive, Textiles, Chemicals, and Others), and By Geography.

As per the deep research carried out by Verified Market Research, the global Monoethylene Glycol Market size was valued at USD 24.67 Billion in 2019 and is projected to reach USD 34.99 Billion by 2027, growing at a CAGR of 4.47% from 2020 to 2027.

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Browse in-depth TOC on "Monoethylene Glycol Market"

202 - Pages
126 – Tables
37 – Figures

Global Monoethylene Glycol Market Overview

Mono Ethylene Glycol is mostly manufactured by oxidising ethylene at high temperatures with a silver oxide catalyst. Later, the ethylene oxide is hydrated to yield mono ethylene glycol, as well as di and tri ethylene glycols as byproducts. Monoethylene glycol (MEG) is a clear, odourless liquid with a pleasant flavour. Mono Ethylene Glycol can be stored in stainless steel, aluminium, or lined drums, as well as tank cars or tank trucks. It has a specific gravity of 1.115 and a flashpoint of 110 degrees Celsius (closed cup). It is not suitable for transportation by road, rail, air, or sea, yet it is dangerous if swallowed. Mono-ethylene glycol is required for the manufacture of polyester fibre film, polyethylene terephthalate (PET) resins, and engine coolants.

During the projection period, MEG products would increase due to increased demand for polyester fibre from the textile sector. Furthermore, the growth in the packaging and textile industries is propelling the monoethylene glycol (MEG) market. Furthermore, the growing usage of plastics in the packaging business, particularly paperboard, wood, and metal, is fueling the polyethylene terephthalate (PET) sector during the projection period. Furthermore, pharmaceutical and food & beverage packaging are significant contributors for industry growth due to their substantial use of PET to make a variety of packaging materials such as sheets, films, bottles, containers, and so on. The improved chemical stability, ease of recyclability, high barrier characteristics, and dimension stability will undoubtedly promote PET demand, resulting in increased MEG production during the forecast period.

Key Players

The major players in the market are LyondellBasell, The Dow Chemical Company, MEGlobal, SABIC, ExxonMobil Corporation, Formosa Plastic Group, AkzoNobel, and Honam Petrochemical Corporation.

Verified Market Research has segmented the Global Monoethylene Glycol Market On the basis of Application, End-Users, and Geography.

Monoethylene Glycol Market, By Application

Polyester Fiber
Polyethylene Terephthalate
Antifreeze & Coolant
Solvent
Chemical Intermediate

Monoethylene Glycol Market, By End-Users

Packaging
Automotive
Textiles
Chemicals
Others

Monoethylene Glycol Market, by Geography

North America

U.S
Canada
Mexico

Europe

Germany
France
U.K
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

ROW

Middle East & Africa
Latin America

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