Monoethylene Glycol Global Market Report 2024 by The Business Research Company | BASF SE, Dow Inc., LyondellBasell Industries Holdings B.V., Royal Dutch Shell plc, MEGlobal B.V., Reliance Industries Limited, Mitsubishi Chemical Corporation, Indian Oil Cor

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.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=6595&type=smp

Monoethylene Glycol Market Major Segments
The monoethylene glycol market covered in this report is segmented -

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

Key Driver - Mono Ethylene Glycol Market To Grow As Rise In Packaging Industry Drives Demand For Product In Distribution, Storage, And Sale Of Goods

The rise in the packaging industry is significantly contributing to the growth of the mono ethylene glycol market going forward. Packaging refers to enclosing or protecting products for distribution, storage, sale, and use. As a result, increasing demand in the packaging industry increases the demand for mono ethylene glycol. For instance, in 2021, according to the India Brand Equity Foundation, an Indian government export promotion agency, packaging demand and consumption in India increased 200%, from 4.3 kgs per person per annum (PPPA) to 8.6 kgs PPPA. Further, in June 2021, according to Financial Express, an Indian business newspaper, the sustainable packaging industry in India is estimated to grow by 4-6% and account for 770-800 kilo tons (KT) by 2024. Therefore, the rise in the packaging industry is driving the growth of the mono ethylene glycol market going forward.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=6595&type=smp

Prominent Trend - Braskem And Sojitz Corporation Partner To Increase Production And Sale Of Renewable Chemicals

Strategic partnerships have emerged as the key trend gaining popularity in the mono ethylene glycol market. Major companies operating in the mono ethylene glycol sector are looking for partnerships to reinforce their position in the market. For instance, in March 2022, Braskem, a Brazil-based petrochemical company, partnered with Sojitz Corporation, a Japan-based trading company. This partnership aims to increase the industrial production and sale of chemicals made from renewable sources. Further, in July 2021, Clariant AG, a Switzerland-based chemical company, partnered with India Glycols, an India-based green technology-based chemicals company. Through this partnership, both companies established a 51-49% joint venture for renewable ethylene oxide (EO) derivatives after receiving all necessary regulatory approvals.

Monoethylene Glycol Market Players
Major companies operating in the monoethylene glycol market include 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, Nan Ya Plastics Corporation, India Glycols Limited, ExxonMobil Corporation, Formosa Plastics Corporation, China Petroleum & Chemical Corporation, SIBUR International GmbH [No information found], Nouryon Holding N.V., Libyan Norwegian Fertiliser Company, AkzoNobel N.V., Saudi Basic Industries Corporation, Vigo Chemicals FZE, Krada CPS Industry S.L., Bredox B.V., Chemie-Handel Schneider GmbH, ICC Chemical Corporation, EQUATE Petrochemical Company, INEOS Group Limited, National Iranian Oil Company, SHAZAND Petrochemical Complex Company, Oriental Union Chemical Corporation

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/monoethylene-glycol-global-market-report

Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the mono ethylene glycol market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the monoethylene glycol market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Monoethylene Glycol Market Report Structure
3. Monoethylene Glycol Market Trends And Strategies
4. Monoethylene Glycol Market - Macro Economic Scenario
5. Monoethylene Glycol Market Size And Growth
…..
27. Monoethylene Glycol Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.