Monoethylene Glycol Market Industrial Explanation By Reliance, SABIC, Dow Chemicals, MEGlobal, Sinopec, LyondellBasell Industries

This global Monoethylene Glycol market report studies the industry based on one or more segments covering key players, types, applications, products, technology, end-users, and regions for historical data as well as provides forecasts for next few years.

Monoethylene glycol market has been segregated on the basis of grade, application and regions. The major grade segments include polyester, industrial and antifreeze. Among these, polyester grade held the significant share of monoethylene glycol market and will expand at a noteworthy rate in the forecast period. This is due to its wide application in textile, packaging and other industries as it has excellent barrier, strength and other mechanical features.

This report focuses on the top Manufacturers and players in global market are given bellow:-

AkzoNobel, Reliance, SABIC, Dow Chemicals, MEGlobal, Sinopec, LyondellBasell Industries, Royal Dutch and Mitsubishi

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Increasing demand for plastic packaging from pharmaceutical, cosmetics, food & beverage and other industries is driving the monoethylene glycol market growth. This is due to its extensive usage of the product in the manufacturing of PET and polyester resins. Global monoethylene glycol market will surpass USD 40 billion by 2024, according to this new research report.

Expansion in various industrial sectors such as textile, automotive, paints & coatings, packaging and others owing to the economic growth and upsurge in spending power, will boost the monoethylene glycol market demand by 2024. Increasing demand for polyester fiber, especially in Asia Pacific, is fueling the monoethylene glycol market demand, owing to its extraordinary chemical and mechanical properties.

Volatility in feedstock material prices will be the key restraining factor for the monoethylene market growth over the forecast period. The product is manufactured from ethylene, a derivative of crude oil and fluctuation in oil prices directly impacts on the raw material prices. Price fluctuation results in unpredictable supply, which hinders manufacturing processes, thus creating a major setback for the monoethylene glycol market.

Monoethylene Glycol Market Size By Grade

Polyester, Industrial, Antifreeze, Low Conductivity

By Application

Polyester Fiber, PET, Antifreeze & Coolants, Chemical Intermediates

Industry Analysis Report, Regional Outlook

U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, GCC

Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024

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In terms of revenue, antifreeze & coolants segment will cross USD 3 billion in 2024. Positive response from automotive industry will drive the segment growth as the product is used as major component to manufacture the IC engine coolants and will boost the industry. Monoethylene glycol is mainly used as a raw material for antifreeze & coolants formulations which will enhance the product demand in the forecast timespan.

On the basis of geography, Asia Pacific, led by China and India, is likely to hold a significant share in the global monoethylene glycol market in past years and is likely to expand it by 2024 at the fastest rate. Europe and North America will have a collective market of over USD 10 billion by 2024 accounting for around a quarter of the overall monoethylene market.

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