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Asia Pacific Monoethylene Glycol Market 2024 To Register Extensive Growth Via Textile And Packaging Industry

07-10-2019 06:57 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Global Market Insights

Monoethylene Glycol Market

Monoethylene Glycol Market

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

Monoethylene Glycol Market will likely surpass USD 40 billion by 2024; according to a new research report. The stance for Asia Pacific remains robust as the region is considered as the one with the strongest growth opportunities in the world. The region continues to be the growth leader being home to 61% population in the world and consisting of 15 of the top 30 megacities in the world.

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

The dynamic lifestyle changes of the massive youth population have created a huge demand for textiles for apparels as well as for home decoration. Growing polyester fiber demand from the textile industry in this region will be a major driver for the monoethylene glycol market growth in the coming decade. Polyester fabric finds extensive applications in yarns & ropes, home furnishings, apparels, and other industrial applications, which include insulating tapes and conveyor belts.

The rising usage of polyethylene terephthalate (PET) in various applications, consumer products including bottles and food containers will also propel the monoethylene glycol market demand over the next seven years. Changing consumer lifestyles, increasing the purchasing power of the population, and rapid urbanization in emerging economies including India, China, Mexico, and Brazil will foster the packaging industry in these countries. This will boost the monoethylene glycol market in these regions in the coming years.

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

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Shell
2. Reliance Industries Limited
3. BASF
4. SABIC (Saudi Basic Industries Corporation) For Petrochemical
5. Mitsubishi Chemical America
6. Lotte Chemical
7. Nan Ya Plastics Corporation
8. The Dow Chemical Company
9. Sinopec Zhenhai Refining & Chemical Company
10. LyondellBasell
11. MEGlobal
12. ExxonMobil
13. AkzoNobel
14. India Glycols Limited, Delhi
15. Chemtex Speciality Limited

Diethylene glycol (DEG) or diglycol, and triethylene glycol (TEG), popularly known as triglycol are the glycol byproducts, which act as substitutes. The high cost of refining ethylene glycol refining acts as a hindrance and is said to challenge the monoethylene glycol market in the upcoming years. Moreover, potential health hazards of the product owing to its toxic nature will further hamper the growth of the monoethylene glycol market in the future years.

Based on grade, monoethylene glycol market is segmented into polyester, industrial, antifreeze, and low conductivity. With a major share in the market, the polyester grade will witness significant gains over the forecast time spell driven by its extensive applications in the packaging and textiles industry. The product exhibits exceptional performance, strength, and mechanical properties.

Considering application, the monoethylene glycol market is bifurcated as PET, polyester fiber, antifreeze & coolants, chemical intermediates, and others. The significant automotive industry growth will propel the antifreeze & coolants market to surpass USD 3 billion by the end of the forecast period.

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

The huge textile and packaging industry coupled with strong development in the automotive industry will foster the monoethylene glycol market in the Asia Pacific region. Asia Pacific will be the fastest growing region led by India and China owing to strong growth opportunities in these countries. With a collated share close to USD 10 billion, North America and Europe will capture close to 25% monoethylene glycol market by 2024.

Major players operating in the monoethylene glycol market include Reliance Industries, Mitsubishi Chemical, AkzoNobel, Royal Dutch, The Dow Chemicals, and SABIC. These companies being significant players hold close 45% market share collectively. Other prominent companies are ExxonMobil Corporation, MEGlobal, LyondellBasell Industries, Sinopec Zhenhai Refining & Chemical Company, Nan Ya Plastics Corporation, Lotte Chemical Corporation, Chemtex Specialty, and India Glycols to name a few.

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

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

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.

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