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Monoethylene Glycol Market Forecast: Propelled by Packaging Industry Growth and Clean Energy Technologies, Expected to Reach $54.06 Billion in 2029 at 9.0% CAGR
Monoethylene Glycol Global Market Report 2025
Growing advancements in Polyester production, automotive electrification, renewable chemicals, and textile recycling are driving the Global Monoethylene Glycol Market, forecasted to reach $54.06 billion by 2029.
What Is The Projected Market Size Of The Monoethylene Glycol Global Market And Its Growth Rate?
Strong growth in the Monoethylene Glycol market is expected in the coming years. Key market figures include:
- The market size increased from $35.55 billion in 2024 to $38.31 billion in 2025, representing a CAGR of 7.8%. This growth was due to polyester production, the creation of antifreeze and coolants, fiber production, industrial solvents, and glycol ethers.
- The market is expected to grow to $54.06 billion in 2029 at a CAGR of 9.0% due to trends like automotive electrification, renewable chemicals, textile recycling, medical and pharmaceutical developments, and cosmetic and personal care innovations.
What Is Driving The Growth In The Monoethylene Glycol Global Market Report 2025?
The rising packaging industry is significantly contributing to the monoethylene glycol market expansion. Increasing demand in the packaging industry for materials that encapsulate or protect products for distribution, storage, sale, and use is driving this growth. The Indian packaging industry, for instance, currently experiences an annual growth of 14-15%, which is expected to double in the next two years. As such, the growth of the packaging industry is propelling the development of the monoethylene glycol market.
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Who Are the Key Players Driving Monoethylene Glycol Global Market Report 2025 Growth?
Key companies 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
- ExxonMobil Corporation
- Formosa Plastics Corporation
What Are The Key Trends In The Monoethylene Glycol Global Market Report 2025?
Emerging trends in the Monoethylene Glycol market include:
- Increased adoption of advanced coatings
- Innovations in clean energy technologies
- The development of biodegradable plastics
- A push towards packaging sustainability
- Progress in PET (polyethylene terephthalate) bottle development
What Are The Segments Of The Global Monoethylene Glycol Global Market Report 2025?
The Monoethylene Glycol market is segmented by:
- Production Process: Including Gas-Based, Naphtha-Based, Coal-Based, Methane-to-Olefins (MTO), and Bio-Based forms
- Application: Used in Polyester Fiber, Polyethylene Terephthalate (PET) Resins, Polyethylene Terephthalate (PET) Film, Antifreeze, and Other Applications
- End Users: Including Textiles and Leather, Packaging, Adhesives and Sealants, Paints and Coatings, Chemical, Other End Users
Which Region Leads The Monoethylene Glycol Global Market Report 2025?
Asia-Pacific was the largest region in the monoethylene glycol market in 2024 and is expected to be the fastest-growing region in the forecast period. The market report includes regions like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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What Is Covered In The Monoethylene Glycol Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Monoethylene Glycol Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Monoethylene Glycol Global Market Report 2025 for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Monoethylene Glycol Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Monoethylene Glycol Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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