Monoethylene Glycol Market 2018 Top Key Vendors: BASF SE, The Dow Chemical Company, AkzoNobel, ExxonMobil Corporation, Shell

The extensive application spectrum of monoethylene glycol (MEG) market is one of the pivotal drivers responsible for its extensive growth in recent years. Subject to the fact that it is a basic raw material endowed with outstanding properties such as tenacity, durability, and hydrophobicity, it is used extensively to develop polyester fiber, that is further deployed in the manufacturing of ropes, outwears, garments, rugs, carpets, and numerous other household products.

It is prudent to mention that global polyester fiber sector revenue stood at a massive USD 85 billion in 2016, and has been anticipated to expend further in the years to come, which will substantially augment the commercialization potential of monoethylene glycol industry as well. The utilization range of this material spans myriad niche verticals, pertaining to which MEG market size was pegged at an appreciable USD 25 billion in 2016.

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Speaking along similar lines, it is imperative to elaborate on some of the vital pointers related to the expansion of MEG market via polyester fiber applications. As per statistics, 0.345 kg of MEG is used to produce 1 kg of polyester. The demand for new material in the fashion industry compounded with the polyester’s durable nature has led to polyester fiber gaining immense popularity in the last few years.

Pertaining to its water-resistant quality and high tensile strength, the demand for polyester has considerably risen, which has indeed had a profound impact on MEG market outlook. As per estimates, polyester fiber accounted for 50% of the overall MEG market share in 2015.

Growth drivers
• Increasing production of polyethylene terephthalate (PET)
• Increasing demand for polyester fiber in Asia Pacific region
• Growth in several industrial sectors

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The chief factor hindering the growth of the MEG market will be the product’s toxic nature. In the process of de-icing, MEG seeps into the soil and affect not only the underground water but also the health and well-being of humans and wildlife in the area. In response, many countries have banned the production of MEG, which has undoubtedly hampered the growth of monoethylene glycol industry.

Apart from the regulatory pressure, fluctuating crude oil prices have also affected the growth of the MEG market, as the product is derived from ethylene – a downstream product of crude oil. However, these factors have not reduced the demand for PET or polyester and countries like India and China with relaxed governmental regulations on the use of MEG have helped the MEG market to grow considerably. As per estimates, MEG industry size has been projected to cross USD 40 billion by 2024, with a CAGR anticipation of 6% between 2017 and 2024.

Partial Chapter of the Table of Content

Monoethylene Glycol Industry Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1. Vendor matrix

3.3.2. Distributor channel analysis

3.3.3. Profit margin analysis

3.3.4. Value addition at each stage

3.4. Raw material analysis

3.5. Industry impact forces

3.5.1. Growth drivers

3.5.1.1. Increasing production of polyethylene terephthalate (PET)

3.5.1.2. Increasing demand for polyester fiber in Asia Pacific region

3.5.1.3. Growth in several industrial sectors

3.5.2. Industry pitfalls & challenges

3.5.2.1. Volatility in the raw material prices

3.5.2.2. Health hazards related to the usage of product

3.6. Growth potential analysis

3.7. Porter’s analysis

3.8. Technology trends

3.9. Regulatory trends

3.10. Company market share analysis, 2016

3.10.1. Strategic landscape

3.11. PESTEL analysis

3.12. Pricing analysis

3.12.1. Regional pricing

3.12.2. Cost structure analysis

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