Monoethylene Glycol Market to Exceed US$ 65 Billion by 2032, Expanding at a 5.4% CAGR | Fact.MR

The monoethylene glycol market in US will grow at 5.2% during the forecast period. With its versatile uses, monoethylene glycol serves as a basic raw material in the manufacture of textiles, polyester fibers and many other applications such as refrigerant, antifreeze, dehydrator, chemical intermediate, wetting agent and corrosion inhibitor. Its versatility has earned it considerable popularity in the US market.

The global monoethylene glycol market (モングイマングリコール市ム市) is expected to grow at a compound annual growth rate (CAGR) of 5.2% to 20%. Monoethylene glycol is forecast to reach $65 billion by 2032, a significant increase from the value of $38.4 billion in 2022.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭:
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In recent years, the global market for monoethylene glycol (MEG) has experienced a remarkable surge, driven by the soaring demand for two key industries: PET bottles and polyester fibers.

𝐓𝐡𝐞 𝐑𝐢𝐬𝐞 𝐨𝐟 𝐏𝐄𝐓 𝐁𝐨𝐭𝐭𝐥𝐞𝐬

PET (polyethylene terephthalate) bottles are everywhere in our daily lives. From our on-the-go water bottles to the soft drink containers on store shelves, PET bottles have become the beverage of choice for many. The reasons for the increase in popularity of PET bottles are clear: they are light, unbreakable and fully recyclable. In addition, PET bottles also lend themselves very well to consumer-oriented sustainability and ecological packaging.

The exponential growth of the PET bottle market can be attributed to several factors such as changing consumer preferences and the global shift towards more environmentally conscious elections . . As governments and environmental organizations promote the reduction of single-use plastics, PET bottles are considered a viable alternative due to their recyclability.

Monethylene glycol is an important component in PET production. It acts as a raw material in the production of PET resin and gives the material a crucial chemical structure. The increase in demand for PET bottles has therefore increased the use of monoethylene glycol in the plastics industry.

𝐏𝐨𝐥𝐲𝐞𝐬𝐭𝐞𝐫 𝐅𝐢𝐛𝐞𝐫'𝐬 𝐑𝐞𝐯𝐢𝐯𝐚𝐥

At the same time, polyester fibers are growing in popularity in the global textile industry. These versatile fibers are used in a wide range of applications, from clothing and home textiles to industrial materials. Their growth is due to their durability, wrinkle resistance and cost effectiveness. Polyester fibers have also become a popular choice in the fashion industry because they can mimic natural fibers and provide comfort and aesthetic appeal.

Monethylene glycol plays a key role in the production of polyester fibers. It is a critical component in the synthesis of polyethylene terephthalate (PET) chips, which are then processed into polyester fibers. As the textile industry continues to expand worldwide, the demand for polyester fibers has followed, increasing the demand for monoethylene glycol.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐦𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬

The increase in demand for monoethylene glycol due to PET bottles and polyester fibers is not limited to a specific region. This trend can be seen all over the world. Regions such as Asia Pacific, which has a thriving textile industry and growing demand for PET bottles, have played a major role in this market growth. North America and Europe are also an important part of this growth as responsible aspects are driving the demand for PET bottles and eco-friendly textiles.

𝐂𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞:

In the monoethylene glycol market, key players include 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.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤

In the near future, increasing consumption in various industries along with continuous technological advancement is poised to increase the demand for monoethylene glycol. This versatile compound can be used in the production of corrosion inhibitors, antifreeze solutions, coolants, dehydrating agents and many other chemical intermediates.

In addition, monoethylene glycol is an important component in the creation of many hygroscopic materials. serving various industries such as textile, packaging and automotive. In addition, capacity expansion in China and the Middle East is expected to play a key role in the growth of both the product and monoethylene glycol markets. In particular, Mitsubishi Chemicals and Reliance Industries together will have a significant impact on the global monoethylene glycol market. together with a significant market share of more than 40%

𝐊𝐞𝐲 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬

By Application :
Polyester Fiber
PET Bottle
PET Film
Antifreeze
Industrial

By End User :
Textile
Packaging
Plastic
Automotive and Transportation
Other End User Industries

By Region :
North America
Latin America
Europe
Asia Pacific
Middle East and Africa

The global monoethylene glycol market is experiencing unprecedented growth as the demand for PET bottles and polyester fibers continues to surge. The versatility of MEG in these key industries has made it a vital component in the production of eco-friendly packaging and textile materials. As consumers and manufacturers alike prioritize sustainability, it is essential for the MEG industry to adapt and innovate to meet the evolving needs of a changing world.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

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