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Monoethylene Glycol (MEG) Market to Reach USD 53.51 Billion by 2030 with a CAGR of 6.2%

01-15-2025 06:49 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD.

Monoethylene Glycol (MEG) Market

Monoethylene Glycol (MEG) Market

๐†๐ฅ๐จ๐›๐š๐ฅ ๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐จ๐ข๐ฌ๐ž๐ ๐Ÿ๐จ๐ซ ๐’๐ข๐ ๐ง๐ข๐Ÿ๐ข๐œ๐š๐ง๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก

The global Monoethylene Glycol (MEG) market is on track to experience substantial growth, with projections indicating a rise from USD 35.12 billion in 2023 to approximately USD 53.51 billion by 2030, reflecting a compound annual growth rate (CAGR) of 6.2% during the forecast period.

๐Š๐ž๐ฒ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ

The increasing demand for polyester fibers in the textile industry, particularly in emerging economies like China and India, is a significant factor propelling the MEG market forward. Additionally, the expansion of the automotive sector and rising construction activities worldwide are contributing to the heightened demand for MEG-based products.

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐š๐ง๐ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ

๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ

Vietnam's textile industry has been expanding, leading to a rise in demand for polyester fibers. This growth is expected to drive the MEG market in the country, with local manufacturers increasing production capacities to meet both domestic and international demand.

๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐‚๐ก๐ข๐ง๐š

China stands as one of the largest consumers of MEG globally, driven by its robust textile and packaging industries. The country's focus on sustainability has led to investments in bio-based MEG production, aiming to reduce environmental impact and cater to the growing demand for eco-friendly products.

๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐

Thailand's automotive and textile sectors are significant consumers of MEG. The government's initiatives to promote industrial growth have attracted foreign investments, leading to technological advancements and increased MEG consumption in various applications.

๐…๐จ๐ซ ๐ฆ๐จ๐ซ๐ž ๐๐ž๐ญ๐š๐ข๐ฅ๐ฌ ๐š๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐ซ๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐จ๐ซ ๐ข๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐ญ๐จ๐๐š๐ฒ : https://www.maximizemarketresearch.com/request-sample/2018/

๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง

Japan's emphasis on technological innovation has led to the development of advanced MEG production processes. The country's automotive industry, known for its focus on efficiency and sustainability, continues to drive demand for high-quality MEG products.

๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š

South Korea's dynamic textile and automotive industries contribute significantly to the MEG market. Recent developments include investments in expanding production capacities and adopting sustainable practices to meet global environmental standards.

๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž

Singapore serves as a strategic hub for petrochemical industries in Southeast Asia. The country's advanced infrastructure and favorable business environment have attracted major players in the MEG market, fostering growth and regional distribution.

๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐ญ๐ก๐ž ๐”๐ง๐ข๐ญ๐ž๐ ๐’๐ญ๐š๐ญ๐ž๐ฌ

The U.S. market is witnessing growth due to the increasing demand for antifreeze and coolant applications in the automotive sector. Technological advancements and a focus on sustainability are driving the adoption of bio-based MEG products.

๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐ฆ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž

Europe's stringent environmental regulations have accelerated the shift towards bio-based MEG production. The region's automotive and textile industries are increasingly adopting sustainable practices, contributing to the demand for eco-friendly MEG solutions.

๐…๐จ๐ซ ๐ฆ๐จ๐ซ๐ž ๐๐ž๐ญ๐š๐ข๐ฅ๐ฌ ๐š๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐ซ๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐จ๐ซ ๐ข๐ง๐ช๐ฎ๐ข๐ซ๐ž ๐ญ๐จ๐๐š๐ฒ :https://www.maximizemarketresearch.com/request-sample/2018/

๐ƒ๐ข๐ฌ๐œ๐จ๐ฏ๐ž๐ซ ๐ค๐ž๐ฒ ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ ๐ซ๐จ๐ฐ๐ญ๐ก ๐จ๐Ÿ ๐ญ๐ก๐ž ๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐Œ๐š๐ซ๐ค๐ž๐ญ :

๐›๐ฒ ๐๐ซ๐จ๐œ๐ž๐ฌ๐ฌ

Oxidation of Ethylene
Bio-Based Monoethylene Glycol Production

๐›๐ฒ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง

Polyester Fiber

PET Bottle
PET Film
Antifreeze & Coolant
Others

The strong demand for textiles and clothing around the world in 2023 drove the production of polyester fiber, which led the monoethylene glycol (MEG) market based on applications. The production of PET bottles comes next, driven by the food and beverage industries' increasing desire for robust, lightweight packaging options. PET film production also maintains a significant share, supported by its usage in packaging, electrical, and industrial applications.

๐›๐ฒ ๐„๐ง๐ ๐”๐ฌ๐ž ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ

Textile

Packaging
Plastic
Automotive and Transportation
Other End-user Industries

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐๐š๐ญ๐š ๐š๐ง๐ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐›๐ฒ ๐ฏ๐ข๐ž๐ฐ๐ข๐ง๐  ๐ญ๐ก๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž : @https://www.maximizemarketresearch.com/market-report/monoethylene-glycol-meg-market/2018/

๐‹๐ž๐š๐ซ๐ง ๐š๐›๐จ๐ฎ๐ญ ๐ญ๐ก๐ž ๐ญ๐จ๐ฉ ๐ฉ๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐ข๐ง๐ง๐จ๐ฏ๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐ญ๐ก๐ž ๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐Œ๐š๐ซ๐ค๐ž๐ญ :

1. SABIC
2. Formosa
3. Dowdupont
4. BASF
5. MEGlobal
6. Sinopec
7. Shell
8. Reliance
9. SIBUR
10. PTTGC
11. Royal Dutch Shell
12. AkzoNobel
13. The Dow Chemicals
14. Mitsubishi Chemical
15. Lotte Chemical Corporation
16. Zhenhai Refining & Chemical Co., Nan Ya Plastics Corporation
17. LyondellBasell Industries
18. ExxonMobil Corporation
19. Chemtex Speciality Limited
20. India Glycols

๐†๐ž๐ญ ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ฌ ๐ญ๐จ ๐œ๐ซ๐ข๐ญ๐ข๐œ๐š๐ฅ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐ฌ๐ก๐š๐ฉ๐ข๐ง๐  ๐ญ๐ก๐ž ๐Œ๐จ๐ง๐จ๐ž๐ญ๐ก๐ฒ๐ฅ๐ž๐ง๐ž ๐†๐ฅ๐ฒ๐œ๐จ๐ฅ (๐Œ๐„๐†) ๐Œ๐š๐ซ๐ค๐ž๐ญ :

What is Monoethylene Glycol (MEG) ?
What is the growth rate of the Monoethylene Glycol (MEG) Market?
Which are the factors expected to drive the Monoethylene Glycol (MEG) market growth?
What is the CAGR at which the Monoethylene Glycol (MEG) market will grow during the forecast period?
What are the different segments of the Monoethylene Glycol (MEG) Market?
Which is the fastest growing region in the Monoethylene Glycol (MEG) market?
What growth strategies are the players considering to increase their presence in Monoethylene Glycol (MEG) ?
What are the upcoming opportunities and trends for the Monoethylene Glycol (MEG) Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Monoethylene Glycol (MEG) Market?
Who are the leading companies and what are their portfolios in Monoethylene Glycol (MEG) Market?
What segments are covered in the Monoethylene Glycol (MEG) Market?
Who are the key players in the Monoethylene Glycol (MEG) market?

๐†๐š๐ข๐ง ๐š๐œ๐œ๐ž๐ฌ๐ฌ ๐ญ๐จ ๐ฏ๐š๐ฅ๐ฎ๐š๐›๐ฅ๐ž ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐ญ๐ก๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ฅ๐ข๐ง๐ค @https://www.maximizemarketresearch.com/request-sample/2018/

๐†๐ž๐ญ ๐š ๐œ๐ฅ๐จ๐ฌ๐ž๐ซ ๐ฅ๐จ๐จ๐ค ๐š๐ญ ๐ญ๐ก๐ž ๐ ๐š๐ฆ๐ž-๐œ๐ก๐š๐ง๐ ๐ข๐ง๐  ๐ฉ๐ซ๐จ๐๐ฎ๐œ๐ญ๐ฌ ๐๐ซ๐ข๐ฏ๐ข๐ง๐  ๐ฌ๐ฎ๐œ๐œ๐ž๐ฌ๐ฌ.

Past Size and Competitive Landscape
โ€ข Past Pricing and price curve by region
โ€ข Size, Share, Size Forecast by different segment
โ€ข Dynamics Growth Drivers, Restraints, Opportunities, and Key Trends by Region
โ€ข Segmentation A detailed analysis by segment with their sub-segments and Region
โ€ข Competitive Landscape Profiles of selected key players by region from a strategic perspective

๐‚๐ก๐ž๐œ๐ค ๐จ๐ฎ๐ญ ๐จ๐ฎ๐ซ ๐ญ๐ซ๐ž๐ง๐๐ข๐ง๐  ๐ฌ๐ญ๐ฎ๐๐ข๐ž๐ฌ ๐ญ๐จ ๐ฎ๐ง๐๐ž๐ซ๐ฌ๐ญ๐š๐ง๐ ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ฌ๐ก๐ข๐Ÿ๐ญ๐ฌ :

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๐‘๐ž๐š๐œ๐ก ๐Ž๐ฎ๐ญ ๐ญ๐จ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐Ÿ๐จ๐ซ ๐ˆ๐ง-๐ƒ๐ž๐ฉ๐ญ๐ก ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐š๐ง๐ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ :

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