Monoethylene Glycol Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027

Price: 3200/- USD | Published Date: September 14, 2020 |

The global monoethylene glycol (MEG) market has been projected to grow at the CAGR of 6.3% during 2020-2027 and is expected to reach $ 44.97 billion by 2025. Monoethylene is a colorless, odorless liquid. Diethylene oxide and triethylene dioxide are the coproducts obtained in the manufacturing process of mono ethylene glycol. Monoethylene glycol is majorly used applied in the textile industry to the packaging industry. It is used as a raw material in the manufacture of polyethylene terephthalate (PET), polyester fiber and coolant & antifreeze among others.

Market Insights:

Synthetic gas (carbon monoxide and hydrogen) is oxidized in the presence of methanol to produce monoethylene. Conversely, the increasing popularity of bio-based monoethylene glycol is estimated to offer opportunities in upcoming years. Polyethylene terephthalate (PET) is the fastest-growing application of the monoethylene glycol market. An increase in the usage of polyethylene terephthalate in the packaging industry is projected to boost the monoethylene glycol market. The popularity of PET has been growing in developing economies as a cheaper and lighter replacement for glass in the manufacture of bottles and packaging. The application scope of PET is growing at a very fast rate across emerging economies, significantly to the demand for monoethylene glycol. Growing production of polyester fiber in the Asia Pacific is also likely to drive the demand for monoethylene glycol in the near future. The demand for monoethylene glycol is also increasing significantly in Latin America and MEA due to the increasing consumption of polyester and PET.

Market Segment Insights:

On the basis of application, monoethylene glycol is segmented into polyester terephthalate, polyester resin, coolants & antifreeze, and others (Intermediate Chemicals, Heat Transfer Fluids, etc.). Polyester resins accounted for major share of global Monoethylene glycol market in 2016 and is expected to hold its position in upcoming years. Polyester is known to be a substitute for the growing demand of fibers in the market. Monoethylene glycol is used as a raw material in the production of polyethylene terephthalate (PET) resins which are further used in the manufacture of polyester fabrics and bottles. Growing demand for PET bottles and containers from various end-user industries worldwide is driving the demand for polyethylene terephthalate in the market. PET is the fastest-growing application segment of the global monoethylene glycol market. Monoethylene glycol is used as a coolant & antifreeze agent for industrial applications.

Global Monoethylene Glycol (MEG) Market Segmentation:

By Application, 2018–2027 (Kilo Tons) (US$ Mn)

  • Polyethylene Terephthalate (PET)
  • Polyester Fiber
  • Coolants & Antifreeze
  • Others (Intermediate Chemicals, Heat Transfer Fluids, etc.)

By Geography, 2018-2027 (Kilo Tons) (US$ Mn)

  • North America
  • Europe
  • Asia Pacific
  • Latin America (LATAM)
  • Middle East and Africa (MEA)

Regional Insights:

Asia Pacific dominated the global monoethylene glycol (MEG) market in 2016. China registered a significant demand for monoethylene glycol as it holds the major share as producer of textiles globally. Europe and North America are expected to experience steady demand for monoethylene glycol as its production is shifting from these regions to the developing economies such as the Asia Pacific and the Middle East & Africa. High competition for monoethylene glycol is in the Middle East due to the increasing number of monoethylene glycol producers in the region. Increasing demand for MEG from various end-user industries such as textile and packaging industry are driving the growth of the global monoethylene glycol market.

Market Competition Assessment:

The major players currently operating in the global monoethylene glycol (MEG) market include AkzoNobel, ExxonMobil Corporation, Formosa Plastic Group, Honam Petrochemical Corporation, LyondellBasell, ME Global, Reliance Industries Ltd., SABIC, and Shell PLC.

List of Key Companies:

  • AkzoNobel
  • ExxonMobil Corporation
  • Formosa Plastic Group
  • Honam Petrochemical Corporation
  • LyondellBasell
  • ME Global
  • Reliance Industries Ltd.
  • Shell PLC.

Key Questions Answered by Monoethylene Glycol (MEG) Market Report

  • Global monoethylene glycol (MEG) market forecasts from 2020-2027
  • Regional monoethylene glycol (MEG) market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
  • Country-level forecasts from 2020-2027 covering 15 major countries from the aforementioned regions
  • Monoethylene Glycol (MEG) submarket forecasts from 2020-2027 covering submarket 1, submarket 2 submarket 3
  • Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to monoethylene glycol (MEG) market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level monoethylene glycol markets from 2020-2027
  • Competitive Landscape and market positioning of top 10 players operating in the monoethylene glycol (meg) market

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Table of Content:

Chapter 1 Preface

1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
1.3.4 Assumptions

Chapter 2 Executive Summary

2.1 Global Monoethylene Glycol (MEG) Market Portraiture
2.2 Global Monoethylene Glycol (MEG) Market, by Application, 2019 (Kilo Tons) (US$ Mn)
2.3 Global Monoethylene Glycol (MEG) Market, by Geography, 2019 (Kilo Tons) (US$ Mn)

Chapter 3 Global Monoethylene Glycol (MEG) Market Analysis

3.1 Global Monoethylene Glycol (MEG) Market Overview
3.2 Major Market Trends and Key Takeaways
3.3 Market Dynamics
3.3.1 Market Drivers Increase in usage of polyethylene terephthalate (PET) in the packaging industry
3.3.2 Challenges Limitations pertaining to supply and volatility in prices of raw materials
3.3.3 Opportunities
3.4 Attractive Investment Proposition
3.5 Competitive Analysis: Global Monoethylene Glycol (MEG) Market

Chapter 4 Global Monoethylene Glycol (MEG) Market, by Application, 2018-2027 (Kilo Tons) (US$ Mn)

4.1 Preface
4.2 Polyethylene Terephthalate (PET)
4.3 Polyester Fiber
4.4 Coolants & Antifreeze
4.5 Others (Intermediate Chemicals, Heat Transfer Fluids, etc.)

Chapter 5 Global Monoethylene Glycol (MEG) Market, by Geography, 2018-2027 (Kilo Tons) (US$ Mn)

5.1 Preface
5.2 North America (U.S. and Canada)
5.3 Europe (U.K., Germany and Rest of Europe)
5.4 Asia Pacific (China, Japan, India and Rest of APAC)
5.5 Latin America (Mexico, Brazil and Rest of LATAM)
5.6 Middle East and Africa (GCC, and Rest of Middle East and Africa)

Chapter 6 Company Profiles

6.1 AkzoNobel
6.2 ExxonMobil Corporation
6.3 Formosa Plastic Group
6.4 Honam Petrochemical Corporation
6.5 LyondellBasell
6.6 ME Global
6.7 Reliance Industries Ltd.
6.9 Shell PLC
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