Monoethylene Glycol Market Predicted to be Billion Dollar Business by 2026 | Report by top market competitors like Royal Dutch Shell, Braskem, Formosa Plastics Corporation, DowDuPont, Reliance Industries Limited

Monoethylene Glycol Market is set to rise from its initial estimated value of USD 25.30 billion in 2018 to an estimated value of USD 36.84 billion by 2026, registering a CAGR of 4.80% in the forecast period of 2019-2026. This rise in market value can be attributed to the increased usage of monoethylene glycol from a various number of segments of the market.

Monoethylene Glycol (MEG) or ethylene glycol is one of the important commercially available glycol. It is produced industrially from ethylene or ethylene oxide. In this process of manufacturing MEG two co-products are obtained, diethylene glycol (DEG) and triethylene glycol (TEG). It is an important raw material for the number of industrial applications including manufacturing of polyester fiber, fabrics and polyethylene terephthalate used to manufacture bottles. Other industrial uses comprise of being used as a coolant, heat transfer agents, antifreeze and also as a hydrate inhibitor in gas pipelines.

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Ethylene Glycol was first prepared by a French chemist Charles-Adolphe Wurtz from ethylene glycol via saponification in the year 1859. Later, The United States started semi-commercial production of ethylene glycol via ethylene chlorohydrination in the year 1917. The first large commercial plant for manufacturing Ethylene glycol was set up at South Charleston by Carbide and Carbon Chemicals Co. in the year 1925. Till 1929 this material was being widely used by almost all dynamite manufacturers which led to the licensing of the product in the year 1953 for its usage.

Key Insights Of Report:
• Complete and distinct analysis of the market drivers and restraints
• Key Market players involved in this industry
• Detailed analysis of the Market Segmentation
• Competitive analysis of the key players involved

Global monoethylene glycol market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of monoethylene glycol market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Key Market Competitors: Global Monoethylene Glycol Market
Few of the major competitors currently working in the monoethylene glycol market are SABIC, MEGlobal B.V., Royal Dutch Shell, Braskem, Haldor Topsoe A/S, Formosa Plastics Corporation, DowDuPont, Reliance Industries Limited, China Petrochemical Corporation, BASF SE, PTT Global Chemical Public Company Limited, Sibur, LOTTE Chemical CORPORATION, Eastman Chemical Company, Exxon Mobil Corporation, Huntsman International LLC, INEOS, Indian Oil Corporation Ltd, India Glycols Limited, Indorama Corporation, Akzo Nobel N.V., Clariant, LG Chem, Mitsui Chemicals Inc., Mitsubishi Chemical Corporation, and Kuwait Petroleum Corporation (KPC).

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Market Drivers:
• Increased demand from the various applications in the market is expected to drive the market growth
• Advancements and developments in the market is also expected to drive the market growth
Market Restraints:
• Toxicity of monoethylene glycol if ingested is expected to restrain the market growth
• Vulnerable raw material prices and high costs associated with production of monoethylene glycol is also expected to restrain the market growth

Segmentation: Global Monoethylene Glycol Market
• By Technology
o Naphtha-Based
o Coal & Natural Gas-Based
 Oxalate/UBE Technology
 Eastman-Jm Davy’s MEG Technology
 Methane-to-Olefins (MTO) Technology
• Bio-Based
o Bio-Ethanol Production
 Sucrose
 Starchy Biomass
 Lignocellulose
o Bio-Ethylene Production
• By Application
o Fiber
o Polyethylene Terephthalate (PET)
 Bottle
 Food Packaging
 Other Packaging Applications
o Film
o Antifreeze & Coolant
o Others
 Industrial Applications
 Chemical Intermediate
 Humectant
 Natural Gas Transportation
…And More GET DETAILED TOC AT: https://databridgemarketresearch.com/toc/?dbmr=global-monoethylene-glycol-market

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This release was published on openPR.