Monoethylene Glycol (MEG) Market Projected to Exhibit Growth at 6.1% CAGR by 2031- TMR Study

The global monoethylene glycol (MEG) market achieved a valuation of US$ 34.1 billion in 2020, with an estimated CAGR of 6.1% from 2021 to 2031, projecting the market to surpass US$ 61.7 billion by the end of 2031. Analysts provide valuable insights into the current market scenario and the factors influencing its growth.

Navigating the Post-COVID Era: MEG Manufacturers Seek Balance in Demand and Supply

Post the peak of the COVID-19 pandemic, optimism is on the rise in the monoethylene glycol market, but challenges persist, especially with the emergence of variants like Omicron. MEG manufacturers are strategically managing the delicate balance between demand and supply to navigate the uncertainties. The plastic and polyester industries are opening new avenues for MEG producers. However, adherence to stringent handling, storage, and distribution standards is crucial due to the potential harm of MEG in its liquid form if ingested. Manufacturers are focusing on safety standards to enhance credibility while expanding MEG production for packaging materials and polyester films.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2251&utm_source=OpenPR_Ganesh&utm_medium=OpenPR

Process Innovations Propel Market Competitiveness

Monoethylene glycol plays a pivotal role in polyester fibers, polyethylene terephthalate (PET) resins, and engine coolants. China, a major consumer of MEG, is witnessing increased investments in manufacturing plants. Cash-rich companies are investing in research and development of proprietary process technologies for MEG production, gaining a competitive edge. Research focuses on catalytic/thermal and solely catalytic production methods, intensifying competition between established players and smaller market entrants.

Maintaining Supply Chain Resilience Amid COVID-19 Pandemic

MEG companies are ensuring optimal inventory levels to prevent supply chain disruptions during the ongoing COVID-19 pandemic. A focus on local production capabilities reduces dependence on external sources for raw materials. Manufacturers are strategically balancing relationships with suppliers to overcome challenges posed by the Omicron variant and increasing infection rates globally. Contingency planning is in place to address uncertainties arising from the evolving pandemic scenario.

Safety Standards in Focus for Aircraft Anti-icers

Increased production of liquid MEG is observed as companies capitalize on demand for industrial-grade MEG used in polyester production. Simultaneously, the demand for MEG in coolants, aircraft anti-icers, and de-icers is driving production capacity expansion. Despite robust growth prospects, adherence to stringent safety standards is emphasized, given MEG's potential health hazards.

Plastic & Polyester Industries Drive Revenue Stability

Antifreeze applications, hydraulic brake fluids, and cooling systems for vehicles and air conditioning units contribute to stable revenue streams for MEG manufacturers. Diversification of production for innovations in PET, used in plastic bottles, showcases the versatility of MEG. The plastic industry witnesses significant MEG demand as a crucial ingredient in the production of polyester fibers, resins, and films.

Asia Pacific Emerges as a Key Market Hub

With a high concentration of fiber and textile producers, Asia Pacific experiences substantial demand for polyester fibers, propelling the MEG market. China, India, and Taiwan are key players with significant production capabilities. The Middle East and Africa showcase increasing demand for MEG in coolant and packaging applications. The growing popularity of MEG in preserving biological tissues and de-icing fluids for windshields and aircraft adds to its global appeal.

𝐁𝐮𝐲 𝐭𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 | 𝐈𝐦𝐦𝐞𝐝𝐢𝐚𝐭𝐞 𝐃𝐞𝐥𝐢𝐯𝐞𝐫𝐲 𝐀𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐚𝐭 - https://www.transparencymarketresearch.com/checkout.php?rep_id=2251<ype=S&utm_source=OpenPR_Ganesh&utm_medium=OpenPR

the global monoethylene glycol market is poised for robust growth, driven by increasing applications in key industries. The industry's ability to adapt to evolving safety standards and market dynamics will be pivotal in shaping its trajectory in the coming years.

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