openPR Logo
Press release

Monoethylene Glycol Market to grow at 6% CAGR till 2024 | AkzoNobel, ExxonMobil, LyondellBasell, The Dow Chemical Company, Shell, BASF, Reliance Industries Limited, Lotte Chemical, Mitsubishi Chemical America, MEGlobal

Monoethylene Glycol Market

Monoethylene Glycol Market

The extensive application spectrum of monoethylene glycol 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.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2198

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.

With the growth of the packaged food and beverages domain, polyethylene terephthalate (PET) industry has witnessed an exponential growth in the recent years. The emerging economies characterized by rising population with growing population with increasing disposable incomes have been observed to lean toward using PET more extensively due to its low volatility and hygroscopic nature. As MEG is used in the production of PET, it would be arguably fair to state that MEG market size would be massively stimulated by the growing popularity of PET. In fact, as per Global Market Insights, Inc., PET is the fastest growing application segment of MEG market, and has been forecast to register a CAGR of 6.5% over 2017-2024.

MEG market has also been forecast will also receive major stimulus from the antifreeze and industrial grade usage of MEG. MEG is mainly used in manufacturing antifreeze for cars, aircrafts and other vehicles. Mixed with water, it is also used as a coolant and works below freezing temperatures. Unarguably, antifreeze and coolants are rather important in the automotive sector, as they keep liquids from freezing within engines and prevent major damage to the vehicle parts. Industrial grade MEG will also generate notable revenue for the MEG market in the forecast time span as MEG is extensively used in paints and coatings and cleaners for its high boiling point and solvent features.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2198

Asia Pacific monoethylene glycol industry has been projected to register a rather commendable growth rate of 7% over 2017-2024, driven by the extensive contribution of countries such as India and China and the robust demand for polyester fiber in the region. The fact that more than 90% of the global polyester fiber production of 2014 took place in Asia Pacific affirms the aforementioned analysis. Subject to the robust economic growth of the emerging nations, higher disposable incomes and relaxed regulations on the manufacturing of MEG, Asia Pacific will register the highest demand as well as supply for MEG, providing a major stimulus to the regional MEG market. North America MEG industry on the other hand, may register a slower growth rate due to the imposition of stringent regulations on the manufacturing of MEG in these regions. In consequence, it has even been observed that major MEG industry players have shifted their base to Middle East and Africa.

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.

Monoethylene Glycol Market by Application
• Polyester fiber
• PET
• Antifreeze & coolants
• Chemical intermediates
• Others

Browse key industry insights spread across 260 pages with 418 market data tables & 27 figures & charts from the report, “Monoethylene Glycol Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/monoethylene-glycol-meg-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: http://technologymagazine.org/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Monoethylene Glycol Market to grow at 6% CAGR till 2024 | AkzoNobel, ExxonMobil, LyondellBasell, The Dow Chemical Company, Shell, BASF, Reliance Industries Limited, Lotte Chemical, Mitsubishi Chemical America, MEGlobal here

News-ID: 1473482 • Views:

More Releases from Global Market Insights, Inc.

Rare Sugar Market Top 3 Trends, Covid-19 Outbreak, Factors Driving, Threats, Cha …
Rising awareness regarding health & fitness and the subsequent shift in consumer trends towards low-calorie sweeteners will boost rare sugar market share over the forecast spell. Recent years have marked a steady rise in the prevalence of cardiovascular ailments, diabetes, and obesity, among other chronic conditions, which have triggered a massive change in consumer perceptions towards health. This in turn has led to a surge in demand for various functional foods
Global Selenium Yeast Market Industry Assessment, Trends, Competitive Landscape, …
The selenium yeast market is anticipated to register substantial gains on account of rising inclination towards organic additives in animal nutrition, with an aim to improve livestock health and production. Consumers are steadily becoming aware of the downsides associated with using synthetic additives. As a result, they are preferring selenium yeast feed grades over other counterparts to provide balanced nutrition to their livestock. According to Global Market Insights Inc estimates
Power Distribution Component Market Share, Size, Trends by 2025 | Leading Key players Eaton, Schneider, Siemens, Hitachi, Powell, Hubbell
Power Distribution Component Market Share, Size, Trends by 2025 | Leading Key pl …
Global Power Distribution Component Market Report offers market overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight. Request a sample of this research report @ https://www.gminsights.com/request-sample/detail/3091 Voltage rating have acted as a standard industry protocol toward the installation of power components reliant on regulatory preference, deployment areas, and the group
Prenatal Vitamin Ingredients Market New Entrants, Risk Factors, Market Expansion …
The rise in the instances of miscarriages on account of poor diet and hygiene will anchor the consumption of prenatal vitamin ingredients. Excessive intake of junk food has resulted in the scarcity of important nutrients in pregnant women that could adversely affect the fetus health and development. Furthermore, prenatal vitamin ingredients possess additional nutritional components that are not so easily sourced from regular food items and products. Prenatal vitamin ingredients can

All 5 Releases


More Releases for MEG

MEG-700A Series 3 Slots Configurable Power Supply
Delta Electronics’s newest 700W MEG-A configurable power supply series is now available! The MEG-700A3 comes with 3 slots in compact size power density of 14.5W/in3 and efficiency up to 93%. The 3 individual modules allows a maximum output of 180W, 300W and 700W respectively. The output voltage can be configured between 2-60V with up to 6 different outputs. Additional features include current sharing, and intelligent fan speed control. Major approvals include
Monoethylene Glycol (MEG) Market Size, Share, Development by 2025
LP INFORMATION recently released a research report on the Monoethylene Glycol (MEG) market analysis and elaborate the industry coverage, current market competitive status, and market outlook and forecast by 2025. Moreover, it categorizes the global Monoethylene Glycol (MEG)market by key players, product type, applications and regions,etc. The main objective of this market research is to help the readers understand the structure of Monoethylene Glycol (MEG)market, market definition, overview, industry opportunities
Monoethylene Glycol (MEG) Market: Competitive Dynamics & Global Outlook 2025
LP INFORMATION recently released a research report on the Monoethylene Glycol (MEG) market analysis, which studies the Monoethylene Glycol (MEG)'s industry coverage, current market competitive status, and market outlook and forecast by 2025. Global “Monoethylene Glycol (MEG) Market 2020-2025” Research Report categorizes the global Monoethylene Glycol (MEG) market by key players, product type, applications and regions,etc. The report also covers the latest industry data, key players analysis, market share, growth
Global Monoethylene Glycol (MEG) Market 2018 - Dow, SPDC, CNPC, BASF, OUCC
The statistical surveying information incorporated into the Monoethylene Glycol (MEG) report is the aftereffect of significant essential and optional research exercises. The report fragments the global market for Monoethylene Glycol (MEG) based on makers, item compose, applications, and districts. In this report, each fragment is contemplated completely and measurements are introduced in detail. The report offers an exact outline of the global Monoethylene Glycol (MEG) advertise covering key factors, for
Monoethylene Glycol (MEG) Market Forecast Research Report 2014-2021
The Monoethylene Glycol (MEG) Market Research Report provides forecast and estimates for each application in terms of Market Size, Share, Trend and Growth during the study period 2014-2021. Monoethylene glycol is a chemical compound prepared by intermediate oxidation of ethylene. It is a colorless and odorless chemical compound with wide range of industrial applications. Monoethylene glycol is necessarily used in preparation of polyester apparels, fabrics, resins and fibers. It is a
Modest Growth Forecast for Global Monoethylene Glycol (MEG) Market
The report covers forecast and analysis for the Monoethylene Glycol (MEG) market on a global and regional level. The study provides historic data of 2015 along with a forecast from 2016 to 2021 based on volume and revenue (USD Million). The study includes drivers and restraints for the market along with the impact they have on the demand over the forecast period. Additionally, the report includes study of opportunities available