Monoethylene Glycol Market Overview:

Monoethylene Glycol (MEG) market is escalating towards growth at an annual growth rate of 4.53% globally. The market is majorly centered in the Asia Pacific and is expected to remain the same in the forecast period.

Market Drivers and Restraints:

Since the global market is focused on the Asia-Pacific region, where mono-ethylene glycol is mainly used as a refrigerant, the market must be driven by factors such as population demand and industrial demand. Steady demand in the textile industry continues to drive the market for monoethylene glycol due to the use of MEG in fiber production. The growing demand for synthetic garments requires the use of PET and polyester fibers, which drives the growth of the mono-ethylene glycol market. However, as the market focuses on the Asia-Pacific region, the number of new establishments in the rest of the world is not very profitable. This factor is holding back the growth of the market.

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Report segmented as:

By Application:

• Fiber
• PET
• Film
• Antifreeze & Coolant
• Other Industrial Applications

Geographical segmentation:

By geography, the global market for monoethylene glycol (MEG) is segmented in Latin America, Europe, Asia Pacific, the Middle East, and Africa and North America. The Asia Pacific is the largest shareholder of the mono-ethylene glycol market in 2018 and is expected to be the fastest growing market due to its high annual compound growth rate, the ever-increasing demand of growing industries, its strategically established production centers and the breadth of perspectives in developing countries such as India and China. Europe and North America are regions of slow growth in the global market for mono-ethylene glycol. The Middle East, Africa and Latin America regions in low-growth developing countries due to the contribution of countries with low GDP are less likely to improve their industries. As a result, the market for monoethylene glycol (MEG) in these regions is growing slowly. Although these regions have a higher growth rate than Europe and North America.

Key Market Players :

By the end of 2018 NPC(Iran), SABIC (Saudi Arabia), Formosa Plastic Group (Taiwan), The Dow Chemical Company (US), Sinopec (China), BASF, MEGlobal, Shell (Netherlands), Reliance Industries (India), SIBUR (Russia), ExxonMobil Corporation, Royal Dutch, Mitsubishi Chemical, LyondellBasell, AkzoNobel, Honam Petrochemical Corporation, Sinopec Zhenhai Refining & Chemical Company, Nan Ya Plastics Corporation, Lotte Chemical Corporation, India Glycols and ChemtexSpeciality Ltd. are the leading shareholders of the Global Monoethylene Glycol (MEG) market.

These companies are majorly focused on the expansion of the application of monoethylene glycol in the forecast period.

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The Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along with this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed, and the prospects with colossal growth potential identified and debated.

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