Press release
Sales Revenue In Monoethylene Glycol Market To Witness Growth At Robust CAGR During 2022 - 2031 : Fact.MR
A recent study by Fact.MR on the monoethylene glycol market offers a 10-year forecast for 2022 to 2032. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering monoethylene glycol.The study also provides the dynamics responsible for influencing the future status of the monoethylene glycol market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies operating in the monoethylene glycol market, along with their product portfolios, key strategies and SWOT analysis, enhances the reliability of this comprehensive research study.
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Which are the Key Drivers of the Monoethylene Glycol Market?
Increasing socioeconomic conditions, emerging economies, increased infrastructure, and an expanding fleet of cars, among other factors, have fueled auto demand, boosting the monoethylene glycol industry. In addition to helping with heat transmission in cold weather, antifreeze and coolants are in high demand in heat exchangers and HVAC systems.
Antifreeze and coolants are also useful in industrial and electrical applications. Potable water systems, sewage systems, non-running engines, and air conditioners are among the most common industrial uses of antifreeze and coolants. As a result, rising application potential in the automotive and electronic industries are likely to boost the sales of monoethylene glycol.
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How are Some Challenges Stifling Monoethylene Glycol Market Growth?
The constant fluctuation of raw material prices is a major challenge in the worldwide monoethylene glycol industry. Crude oil prices have an indirect impact on ethylene pricing. Raw material price fluctuation is a problem for the worldwide Monoethylene glycol market's growth, as it affects demand and delays end-user spending.
However, producers must continue to deal with high and volatile raw material costs, which they are expected to pass on to end-users. Cost pressures, combined with high raw material costs, are projected to lower market players' product margins. This situation has driven monoethylene glycol market participants to improve the efficiency and productivity of their operations in order to maintain market growth.
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Competitive Landscape
Nouryon, BASF SE, Dow, India Glycols Limited, LACC, Mitsubishi Chemical Corporation, Nan Ya Plastics Corporation, Reliance Industries Limited, Royal Dutch Shell PLC, SABIC, and Solventis are the key players in the monoethylene glycol market.
In the foreseeable period, rising consumption across end-use industries, combined with technological advances, is expected to drive the demand for monoethylene glycol. Anti-corrosion agents, anti-freeze, coolant materials, dewatering agents, and a variety of other chemical intermediates can all be made with this product.
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