Monoethylene Glycol (MEG) Market Statistics and Growth Prediction 2021- SABIC, Sinopec, Formosa Plastics Group (FPG), Shell, EQUATE, Lotte Chemical

The Monoethylene Glycol (MEG) market is a comprehensive market research report which provides market analysis with a historical & futuristic perspective for the following parameters; market size, revenue, demand, and supply data (as applicable). The report offers a detailed market analysis to provide a research study on the global Monoethylene Glycol (MEG) market. Some of the tools used for this are SWOT, PESTEL, and Porter's 5-forces analysis frameworks. The report includes detailed information on the key trends, market drivers, challenges, regulatory landscape, deployment models, opportunities, future roadmaps, value chains, player profiles, and strategies.

“In 2020, the global Monoethylene Glycol (MEG) market is estimated to be 27,901 kilotons in 2017 and is projected to reach 33,191 kilotons by 2027, at a CAGR of 3.9%”

Top leading Manufacturers Profiled in Monoethylene Glycol (MEG) Market Report are: SABIC, Sinopec, Formosa Plastics Group (FPG), Shell, EQUATE, Lotte Chemical, DowDuPont, SPDC, CNPC, Reliance Industries, OUCC, INEOS, LyondellBasell, BASF, NIOC, Farsa Chimie, PTT Global Chemical, IndianOil, Indorama Ventures, Sibur, PJSC Kazanorgsintez, Nippon Shokubai, SHAZAND Company, Huntsman, Maruzen Petrochemical

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Industry News and Updates

SHELL STARTS-UP WORLD-SCALE MONOETHYLENE GLYCOL PLANT IN SINGAPORE- Shell Chemicals Limited has announced the successful start-up of its new world-scale monoethylene glycol (MEG) unit at the Shell Eastern Petrochemicals Complex in Singapore.

Avantium Launches New Plant-Based MEG Demonstration Unit- Avantium’s new demo plant in the Netherlands will utilise the firm’s Ray technology to produce plant-based mono-ethylene glycol. With an annual capacity of 10 tonnes, the unit will also produce plant-based mono-propylene glycol.

ICS Cool Energy launches new NSF glycol- ICS Cool Energy has introduced an important new development in food processing safety with the launch of FlowCool-FS.

Market Overview

Monoethylene glycol is a colorless, virtually odorless and slightly viscous liquid. It is miscible with water, alcohols, aldehydes and many organic compounds.

Currently, leaning on the natural oil resources, manufacturers in this industry are concentrated in North America, Europe, Middle East, China and Asia Pacific. Global major monoethylene glycol producers are Sabic, Sinopec, Formosa Plastic, Shell, EQUATE, Lotte Chemical, Dow, SPDC, CNPC, Reliance Industry, INEOS, BASF, NIOC, SHAZAND Company, OUCC. Those companies are all global famous oil companies, with about 61% market shares.

Monoethylene glycol is primarily used in the manufacturing of PET and polyester resins. Rising demand for PET containers from various commercial and industrial end-use markets including packaging due to better strength and impact resistance is expected to positively drive MEG market over the next seven years. Polyester fabrics are extensively used in apparels, home furnishings, yarns & ropes and other industrial applications including conveyor belts and insulating tapes which are likely to drive the demand for MEG over the forecast period. Market for monoethylene glycol is segmented on the basis of application into polyester resins, PET, antifreeze & coolants, chemical intermediates, and heat transfer fluids. Polyester resin along with PET was the largest application segments in 2014 accounting for more than half of the global consumption. Polyester resin is expected to be the fastest growing segment over the forecast period owing to surging textile industry in China and India.

The increasing need for polyester fiber from textile Industries has increased the production of Monoethylene glycol. Increasing use of PET in major consumer goods products like bottles, food containers is expected to drive the monoethylene glycol market demand.  Changing the lifestyle of people and urbanization in major countries like China, India, Brazil, and Mexico is expected to fuel the monoethylene glycol market demand.

The Asia-Pacific region dominated the global market share. In Asia-Pacific, China is the largest economy in terms of GDP.

China has the largest population in the world, with a high availability of skilled labor. The industrial goods markets in the neighboring countries are at an advantage, due to China's geographic location. China also provides easy access to other countries of the world, making it a major access point for manufacturers and suppliers. This has made China the largest manufacturing country in the world.

Global Monoethylene Glycol (MEG) Market Split by Product Type and Applications:

Market Research Study Focus on these Types:

Fiber Grade

Industrial Grade

Antifreeze Grade

Market Research Study Focus on these Applications:

Polyester Fibre

Polyester Resins

Antifreeze and Coolants

Chemical Intermediates

Others

Regional Analysis for Monoethylene Glycol (MEG) Market:

For a comprehensive understanding of market dynamics, the global Monoethylene Glycol (MEG) market is analyzed across key geographies namely the United States, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed based on market findings across major countries in these regions for a macro-level understanding of the market.

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What is the Impact of Covid-19 Outbreak on the Monoethylene Glycol (MEG) ?

- Optimistic Scenario: COVID-19 is contained by May or June, With Normalcy returning to global operations through the End of Q2.
- Conservative Scenario: COVID-19 Remains Prevalent, with Continued Impacts Lasting into Q4.
- Estimated Impact of the Coronavirus (COVID-19) Epidemic on the Global Monoethylene Glycol (MEG).
- Monoethylene Glycol (MEG) Market Size in 2021
- Corporate Strategy the Manufacturers Should Be Thinking About Right Now.

Frequently Asked Questions about the Monoethylene Glycol (MEG) market:

- What are the recent developments and government policies?
- What are the top trends in the Monoethylene Glycol (MEG) market?
- What is the growth rate of the market?
- Which Is the Most potential market segment?
- Which are the top industry players in the Monoethylene Glycol (MEG) market?
- Which region would offer high growth for vendors in the market?

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The research includes historic data from 2016 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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