Monoethylene glycol is also known as 1, 2-ethanediol and is soluble in a wide range of chemical compounds, alcohols, and water. Ethylene Oxide hydrolysis produces it primarily, with the emission of two co-products, Diethylene Glycol (DEG) and Triethylene Glycol (TEG). Natural gas, coal, naphtha, and bioethanol are the feedstocks used to make monoethylene glycol, hence the market is divided into four types based on the sources from which it is made. Natural gas, followed by naphtha and coal, accounts for the majority of monoethylene glycol production. Due to mounting environmental concerns, most businesses are now focusing on producing biobased monoethylene glycol rather than petrochemical-based monoethylene glycol. Monoethylene glycol is utilized in coolants and de-icing materials because of its chemical features, which include high viscosity, high boiling point, and low freezing point. PET and polyester resins are made primarily from monoethylene glycol. It is frequently utilized as a raw ingredient in the production of fabrics and polyester fibres. Among other things, it's used as a coolant, anti-freeze, dewatering agent, chemical intermediate, humecant, and anti-corrosion agent. Monoethylene Glycol is also used in the making of tobacco, food and beverages, pharmaceuticals, and cosmetics, among other things.
The expansion of the monoethylene glycol market would be aided by rising demand for PET packaging in various commercial and industrial end-use applications. Clothing, industrial fabrics, and non-woven fabrics are just a few of the industries where fibers are used. Some of the features of these fabrics, such as resistance to moisture, stains, oil, and water, have led to increased demand for them. It's abrasion-resistant and wrinkle-resistant. As a result of these characteristics, the use of fibre in textile sector and the monoethylene glycol market will grow in the forecast period.
On the other hand, MEG is extremely toxic to people; consumption has been shown to have a negative influence on the kidneys, the heart, and the central nervous system, which is limiting the market growth.
Key features of the study:
- This report provides an in-depth analysis of the global monoethylene glycol market, market size (US$ Billion & Tons), and compound annual growth rate (%CAGR) for the forecast period (2022–2028), considering 2020 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global monoethylene glycol market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Reliance Industries Limited, Saudi Basic Industries Corporation, BASF SE, India Glycols Limited, LyondellBasell Industries Holdings B.V., Chemtex Speciality Limited, Royal Dutch Shell PLC, Nouryon, Mitsubishi Chemical Corporation, and Eastman Chemical Company
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global monoethylene glycol market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global monoethylene glycol market.
- Global Monoethylene Glycol Market, By Production process:
- Global Monoethylene Glycol Market, By Application:
- Polyester Fiber
- Polyethylene Terephthalate (PET) Resins
- Polyethylene Terephthalate (PET) Film
- Global Monoethylene Glycol Market, By End-use Industry:
- Plastic & Packaging
- Global Monoethylene Glycol Market, By Region:
- North America
- Latin America
- Middle East & Africa
- Company Profiles
- Reliance Industries Limited *
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments
- Future Plans
- Saudi Basic Industries Corporation
- BASF SE
- India Glycols Limited
- LyondellBasell Industries Holdings B.V.
- Chemtex Speciality Limited
- Royal Dutch Shell PLC
- Mitsubishi Chemical Corporation
- Eastman Chemical Company
“*” marked represents similar segmentation in other categories in the respective.