Monoethylene Glycol (MEG) Market Sees Explosive Growth Globally

According to the latest research report published by Market Data Forecast, the global monoethylene glycol (meg) market was worth US$ 30.37 billion in 2023 and is anticipated to reach a valuation of US$ 44.39 billion by 2029 and it is predicted to register a CAGR of 6.53% during the forecast period 2024-2029.

MEG is also known as ethylene glycol which is a colourless and odourless compound. Also, it is procured from crude oil's downstream composite called ethylene.

Global Monoethylene Glycol (Meg) Market Report Scope:

• Market Size (2029): US$ 44.39 Billion
• Market Size (2023): US$ 30.37 Billion
• CAGR (2024 to 2029): 6.53%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Application, Technology and Geography
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: 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, and Others.

Market Drivers:

The monoethylene glycol (MEG) market is experiencing an upward growth trajectory due to the emergence of new end-user application areas. This include battery manufacturing and green solvents. It is also widely utilized in polyester resin production as chemical intermediary. So, polyester resin in high in demand because of extensive construction and infrastructure projects, shift into renewable energy sources and rising use of strong and lightweight components in automobile industry which is ultimately driving the MEG market share.

Moreover, the booming textile industry is another contributor to the monoethylene glycol (MEG) market growth. It is one of the major MEG users for producing polyester fiber. Also, its utilization in textile sector is expected to surge because of the rising standard of living and growing population in developing countries.

Additionally, another factor fuelling the expansion of the monoethylene glycol (MEG) market is thriving packaging industry. The rise in consumption of packaged products of various sectors and the increased application of handy and light packing solutions.

Market Restraints:

The monoethylene glycol (MEG) market expansion is hindered by the instability in raw material costs, strict environmental rules and regulations, intense competition, high power intensive manufacturing procedure and availability of substitutes. The disturbed supply chain of ethylene is causing price changes. This is due to multiple geographical tensions and recent natural calamities.

Moreover, several laws and resolution have been passed and enforced to curb the emission of harmful gasses which continues to affect MEG makers and suppliers around the world. Also, the waste dumping and management of chemicals has become difficult due to these tight regulations. All these new parameters and standards requires significant budget allocation for pollution control technologies, sustainable factory methods and garbage processing facilities.

Furthermore, the monoethylene glycol (MEG)market is also constrained by the strong competition from bio-based and glycol substitutes. The development of more ecological products is feasible choice for the companies wanting tenable and endurable solution. In addition, the production of ethylene oxide hydration demands considerable energy.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/monoethylene-glycol-market

Key Insights from The Report:

• Based on application, the fiber segment led the market and accounted for the largest share of the global market in 2023.
• Based on technology, the naphtha-based sector segment captured the highest share of the global market in 2023.
• Asia-Pacific dominated the monoethylene glycol (meg) market in 2023. Europe accounted for the second-highest share of the global market in 2023 and on the other hand, the North America region is estimated to grow at the fastest CAGR during the forecast period.

SEGMENTATION INCLUDED IN THIS REPORT:

By Application:
• Fiber
• PET
• Film
• Antifreeze & Coolant
• others

By Technology:
• Naphtha-based
• Coal-and Natural Gas-based
• Bio-based MEG

By Region:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions

2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline

3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market

5. Market Segmentation
5.1 Application
5.1.1 Introduction
5.1.2 Fiber
5.1.3 PET
5.1.4 Film
5.1.5 Antifreeze & Coolant
5.1.6Other Industrial Applications
5.1.7 Y-o-Y Growth Analysis, By Application
5.1.8 Market Attractiveness Analysis, By Application
5.1.9 Market Share Analysis, By Application

6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Application
6.1.4Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Application
6.1.5Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Application
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa

7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter's Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry

8. Market Leaders' Analysis
8.1 SIBUR
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Iran NPC
8.3 SABIC
8.4Formosa Plastic Group
8.5The Dow Chemical Company
8.6 BASF
8.7MEGlobal
8.8 Sinopec
8.9 Shell
8.10 Reliance Industries

9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches

10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures

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