Press release
Key Influencer in the Monoethylene Glycol Market 2025: Mono Ethylene Glycol Market To Grow As Rise In Packaging Industry Drives Demand For Product In Distribution, Storage, And Sale Of Goods Driver
Monoethylene Glycol Market Size
The expansion of the packaging industry is playing a substantial role in the advancement of the mono ethylene glycol market. The term packaging is associated with the act of encasing or safeguarding products aimed for distribution, utilization, sale, and storage. Consequently, amplified demand in the packaging industry leads to a surge in demand for mono ethylene glycol. For example, as of 2022, the Indian packaging industry is witnessing a yearly growth of 14-15%, which is predicted to double in the upcoming two years. As per the Indian Packaging Institute, the industry's value stands at USD 14 billion, growing at a pace faster than 15% annually. Hence, the burgeoning packaging industry propels the progression of the mono ethylene glycol market.
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What growth opportunities are expected to drive the monoethylene glycol market's CAGR through 2034?
In recent times, the monoethylene glycol market has seen substantial growth. The market size is projected to expand from $35.55 billion in 2024 to $38.31 billion in 2025, with a compound annual growth rate (CAGR) of 7.8%. The sizeable growth during the historic period can be credited to the production of polyester, antifreeze and coolants, fiber production, industrial solvents, and glycol ethers.
In the coming years, the monoethylene glycol market size is anticipated to witness robust growth, expanding to $54.06 billion in 2029 with a CAGR of 9.0%. The growth during the forecast period can be credited to factors such as automotive electrification, renewable chemicals, textile recycling, medical and pharmaceutical developments, and cosmetic and personal care advancements. Leading trends during the forecast period include the evolution of advanced coatings, clean energy technologies, biodegradable plastics, efforts towards packaging sustainability, and PET (polyethylene terephthalate) bottle development.
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What are the emerging trends shaping the future of the monoethylene glycol market?
Forming strategic alliances appears to be a key trend gaining traction within the mono ethylene glycol industry. Mainstream businesses within this sector are pursuing partnership opportunities to solidify their market standing. For instance, in March 2022, Sojitz Corporation, a commerce company from Japan, collaborated with Braskem S.A., a Brazilian petrochemical organization, for the production of biomass-based monoethylene glycol (bioMEG) and monopropylene glycol (bioMPG). As a consequence of the partnership, a joint venture company was set up to manufacture bioMEG and bioMPG. Braskem, leading the market and driving the production of biopolymers on an industrial scale, cooperates with Haldor Topsoe A/S to design innovative techniques for producing bioMEG and bioMPG, utilizing Haldor Topsoe A/S's resources for this initiative. A proof-of-concept plant was operationalized in 2020, and the newly formed partnership between Sojitz and Braskem is set out to expand this manufacturing process for a wider commercial setup. To promote these eco-friendly chemicals, Sojitz will be utilizing its worldwide customer network in various sectors like chemicals, food and beverages, and clothing.
Which growth-oriented segments of the monoethylene glycol market are leading the industry's development?
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
Subsegments:
1) By Gas-Based: Steam crac*king, Oligomerization
2) By Naphtha-Based: Catalytic crac*king, crac*king
3) By Coal-Based: Gasification, Liquefaction
4) By Methane-to-Olefins (MTO): Direct MTO Process, Indirect MTO Process
5) By Bio-Based: Ethanol-Based Process, Renewable Feedstocks Process
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What regions are leading the charge in the monoethylene glycol market?
Asia-Pacific was the largest region in the mono ethylene glycol market in 2024. 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.
What companies are at the forefront of innovation in the monoethylene glycol market?
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
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What Is Covered In The Monoethylene Glycol Global Market Report?
•Market Size Forecast: Examine the monoethylene glycol market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the monoethylene glycol market for a structured understanding.
•Key Players Overview: Analyze major players in the monoethylene glycol market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the monoethylene glycol market.
•Segment Contributions: Evaluate how different segments drive overall growth in the monoethylene glycol market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the monoethylene glycol market.
•Industry Challenges: Identify potential risks and obstacles affecting the monoethylene glycol market.
•Competitive Landscape: Review strategic developments in the monoethylene glycol market, including expansions, agreements, and new product launches.
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