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Monoethylene Glycol Market worth $48.86 billion by 2030, growing at a CAGR of 5.20% - Exclusive Report by 360iResearch
Monoethylene Glycol Market | 360iResearch
The Global Monoethylene Glycol Market to grow from USD 34.25 billion in 2023 to USD 48.86 billion by 2030, at a CAGR of 5.20%.
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Monoethylene glycol (MEG) is a colorless, odorless organic compound with the formula C2H6O2, primarily used as an antifreeze agent in engine coolants and raw material in the manufacture of polyethylene terephthalate (PET) resin and polyester fibers, commonly found in plastics and fabrics. The rising adoption of MEG is influenced by a variety of factors, including the increasing demand for polyester fibers in the textile sector and PET in packaging applications due to their lightweight and durable nature. The growth in industries such as automotive, packaging, and construction propels MEG consumption, with the expansion of developing economies. Additionally, the utilization of MEG in antifreeze and industrial coolants contributes to its steady demand, particularly in regions with colder climates. Restraints include volatility in raw material prices, as MEG production is dependent on ethylene, which is derived from crude oil. Environmental regulations and the push for sustainable alternatives pose a challenge for the MEG industry since it is a petrochemical product. Industry players are investigating bio-based alternatives to petrochemical-derived MEG to address these challenges. Opportunities include technological advancements in production processes to reduce costs, improve efficiency, and the potential for integrated production facilities that streamline operations and lower dependency on external raw material sources.
Market Segmentation & Coverage:
This research report categorizes the Monoethylene Glycol Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Grade, market is studied across Antifreeze Grade, Industrial Grade, Low Conductivity Grade, and Polyester Grade. The Low Conductivity Grade is projected to witness significant market share during forecast period.
Based on Application, market is studied across Antifreeze & Coolants, Chemical Intermediates, Heat Transfer Fluids, Polyester Fibres, and Polyester Resin. The Chemical Intermediates is projected to witness significant market share during forecast period.
Based on End Use, market is studied across Automotive, Oil & Gas, Packaging, Plastic, and Textile. The Automotive is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 38.41% in 2023, followed by Europe, Middle East & Africa.
FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Monoethylene Glycol Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Monoethylene Glycol Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Monoethylene Glycol Market, highlighting leading vendors and their innovative profiles. These include Arham Petrochem, BASF SE, Chemtex Speciality Limited, China Petrochemical Corporation by Sinopec Zhenhai Refining & Chemical Company, Exxon Mobil Corporation, Hydratech by Liquitherm Technologies Group Limited, India Glycols Group, LyondellBasell Industries N.V., MEGlobal International FZE by EQUATE Petrochemical Company, NAN YA PLASTICS CORPORATION by Formosa Plastics Group, Neeraj Chemicals, Reliance Industries Limited, Royal Dutch Shell PLC, Saudi Basic Industries Corporation, and The Dow Chemical Company.
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Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Monoethylene Glycol Market, by Grade
7. Monoethylene Glycol Market, by Application
8. Monoethylene Glycol Market, by End Use
9. Americas Monoethylene Glycol Market
10. Asia-Pacific Monoethylene Glycol Market
11. Europe, Middle East & Africa Monoethylene Glycol Market
12. Competitive Landscape
13. Competitive Portfolio
14. Appendix
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Monoethylene Glycol Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Monoethylene Glycol Market?
3. What is the competitive strategic window for opportunities in the Monoethylene Glycol Market?
4. What are the technology trends and regulatory frameworks in the Monoethylene Glycol Market?
5. What is the market share of the leading vendors in the Monoethylene Glycol Market?
6. What modes and strategic moves are considered suitable for entering the Monoethylene Glycol Market?
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