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Monoethylene Glycol Market Insights 2024, Industry Overview, Growth Factors And Trends Forecast To 2033
Monoethylene Glycol Global Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Monoethylene Glycol industry. This report on Monoethylene Glycol market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The monoethylene glycol market size has grown strongly in recent years. It will grow from $33.11 billion in 2023 to $35.78 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to polyester production, antifreeze and coolants, fiber production, industrial solvents, glycol ethers.
The monoethylene glycol market size is expected to see strong growth in the next few years. It will grow to $49.05 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to automotive electrification, renewable chemicals, textile recycling, medical and pharmaceutical, cosmetic and personal care. Major trends in the forecast period include advanced coatings, clean energy technologies, biodegradable plastics, packaging sustainability, pet (polyethylene terephthalate) bottle development.
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Key Market Players:
BASF SE, Dow Inc., LyondellBasell Industries Holdings B.V., Royal Dutch Shell PLC, MEGlobal B.V., Reliance Industries Limited, Mitsubishi Chemical Corporation, Indian Oil Corporation Limited, Lotte Chemical Corporation are prominent players in the Monoethylene Glycol industry.
Market Drivers:
According to the Monoethylene Glycol Market Report 2023 by The Business Research Company, the key factors driving the growth of the Monoethylene Glycol market, includes Major companies operating in the monoethylene glycol market are expanding their footprints by launching new service providers such as Sustainea, which will produce and market bioMEG (monoethylene glycol) and bioMPG (monopropylene glycol). Sustainea will combine Braskem's expertise in the industrial production and sale of chemicals and plastics made from renewable sources.
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Market segments for Monoethylene Glycol include:
1) By Production Process: Gas-Based, Naphtha-Based, Coal-Based, Methane-to-Olefins (MTO), Bio-Based
2) By Application: Polyester Fiber, Polyethylene Terephthalate (PET) Resins, Polyethylene Terephthalate (PET) Film, Antifreeze, Other Applications
3) By End Users: Textiles and Leather, Packaging, Adhesives and Sealants, Paints and Coatings, Chemical, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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𝐌𝐨𝐧𝐨𝐞𝐭𝐡𝐲𝐥𝐞𝐧𝐞 𝐆𝐥𝐲𝐜𝐨𝐥 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧
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𝐑𝐞𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰…
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