Product Code: GVR-4-68040-090-5
Monoethylene Glycol Market Growth & Trends
The global monoethylene glycol market size is expected to reach USD 30.98 billion by 2030, as per the new report by Grand View Research, Inc., registering a CAGR of 3.2% over the forecast period. This is attributed to the increasing product demand in the polyester film industry. MEG is a key raw material for the production of polyester fibers, which are widely used in the textile industry. As global populations continue to grow and economies develop, there is a growing demand for clothing and textiles, driving the need for MEG. MEG is also used in the production of Polyethylene Terephthalate (PET) resin, which is used for packaging applications, such as bottles and containers.
With the rise of e-commerce, convenience foods, and beverages, there has been a significant increase in the demand for PET packaging, leading to higher consumption. In addition, MEG is used in the manufacturing of automotive antifreeze and engine coolant, as well as in brake fluid. The growing automotive industry, particularly in emerging markets, is driving the demand as the production of vehicles increases. Furthermore, MEG is utilized in the production of construction materials, such as paints, coatings, and adhesives. As construction activities rise worldwide, particularly in developing countries, there is a higher demand for the construction industry.
Moreover, it is also utilized in the production of wind turbine blades, which are an essential component of wind energy generation. As the world seeks to reduce dependence on fossil fuels and embrace renewable energy sources, the demand for MEG for wind turbine production is increasing. On the other hand, fluctuations in raw material prices may have a negative impact on market growth. MEG is derived from ethylene, which is primarily produced from crude oil or natural gas. Any volatility in the prices of these feedstocks can impact the production cost. To sum up, fluctuating raw material prices can make it challenging for MEG manufacturers to maintain stable pricing and can potentially affect industry growth.
Monoethylene Glycol Market Report Highlights
- Polyester fibers application emerged as the fastest-growing segment with a CAGR of 3.9% from 2023 to 2030 due to its higher product adoption in the production of these fibers on account of its properties, such as moisture resistance, high strength & durability, colorfastness & dyeability, and excellent thermoplastic properties
- The automotive end-use segment is estimated to witness the second-fastest CAGR of 3.4% from 2023 to 2030 due to the product's wide applicability in the manufacturing of various automobile parts, such as engine oil additives, windshield washer fluid, brake fluid, and engine coolant & antifreeze
- North America is estimated to witness the highest CAGR of 4.1% from 2023 to 2030 owing to the increasing product demand from overall end-use industries, especially the automotive industry, in the region
- The market is highly competitive due to the fact that it is dominated by a few large-scale players, such as SABIC, Reliance Industries Limited, BASF SE, and LyondellBasell Industries N.V. These companies have significant industry shares and are constantly investing in R&D to improve their products and processes
- The market was affected by the COVID-19 pandemic as it caused a decline in demand for several products that use monoethylene glycol, such as antifreeze, polyester fibers, and brake fluids. This led to a decrease in production and an increase in inventory levels
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market Segmentation & Scope
- 1.2 Market Definition
- 1.3 Information Procurement
- 1.3.1 Purchased Database
- 1.3.2 GVR's Internal Database
- 1.4 Information analysis
- 1.5 Market formulation & data visualization
- 1.6 Data validation & publishing
- 1.6.1 Research scope and assumptions
- 1.6.2 List to Data Sources
Chapter 2 Executive Summary
- 2.1 Market Snapshot
- 2.2 Segment Snapshot
- 2.3 Competitive Landscape Snapshot
Chapter 3 Monoethylene Glycol: Market Variables, Trends & Scope
- 3.1 Market Lineage Outlook
- 3.1.1 Global Ethylene Glycol Market Outlook
- 3.2 Industry Value Chain Analysis
- 3.2.1 Manufacturing/ Technology Trends
- 3.2.2 Sales Channel Analysis
- 3.2.3 List of Potential End-Users
- 3.3 Price Trend Analysis, 2018 - 2030 (USD/Kg)
- 3.3.1 Factors Influencing Prices
- 3.4 Regulatory Framework
- 3.5 Market Dynamics
- 3.5.1 Market Driver Analysis
- 3.5.2 Market Restraint Analysis
- 3.5.3 Industry Challenges
- 3.5.4 Industry Opportunities
- 3.6 Market Business Environment Analysis
- 3.6.1 Industry Analysis: PORTER's five Force Model
- 3.6.2 Macroeconomic Analysis: PESTEL Analysis
Chapter 4 Monoethylene Glycol Market: Supplier Portfolio Analysis
- 4.1 List of Raw Material Supplier
- 4.2 Raw Material Trends
- 4.3 Portfolio Analysis/Kraljic Matrix
- 4.4 Engagement Model
- 4.5 Negotiation Strategies
- 4.6 Sourcing Best Practices
Chapter 5 Monoethylene Glycol Market: Application Estimates & Trend Analysis
- 5.1 Application Movement Analysis & Market Share, 2022 & 2030
- 5.1.1 PET
- 5.1.1.1 Global monoethylene glycol market estimate & forecast, in PET, 2018 - 2030 (Kilotons) (USD Million)
- 5.1.2 Polyester Fibers
- 5.1.2.1 Global monoethylene glycol market estimate & forecast, in Polyester Fibers, 2018 - 2030 (Kilotons) (USD Million)
- 5.1.3 Antifreeze
- 5.1.3.1 Global monoethylene glycol market estimate & forecast, in Antifreeze, 2018 - 2030 (Kilotons) (USD Million)
- 5.1.4 Other Applications
- 5.1.4.1 Global monoethylene glycol market estimate & forecast, in other applications, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6 Monoethylene Glycol Market: End-Use Estimates & Trend Analysis
- 6.1 End-use Movement Analysis & Market Share, 2022 & 2030
- 6.1.1 Packaging
- 6.1.1.1 Global monoethylene glycol market estimate & forecast, in packaging, 2018 - 2030 (Kilotons) (USD Million)
- 6.1.2 Textile
- 6.1.2.1 Global monoethylene glycol market estimate & forecast, in textile, 2018 - 2030 (Kilotons) (USD Million)
- 6.1.3 Automotive
- 6.1.3.1 Global monoethylene glycol market estimate & forecast, in automotive, 2018 - 2030 (Kilotons) (USD Million)
- 6.1.4 Plastics
- 6.1.4.1 Global monoethylene glycol market estimate & forecast, in Plastics, 2018 - 2030 (Kilotons) (USD Million)
- 6.1.6 Other End-Uses
- 6.1.6.1 Global monoethylene glycol market estimate & forecast, in other end-uses, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7 Monoethylene Glycol Market: Regional Estimates & Trend Analysis
- 7.1 Monoethylene Glycol Market: Regional Outlook
- 7.2 North America
- 7.2.1 North america Monoethylene Glycol Market Estimates & Forecasts 2018 - 2030 (Kilotons) (USD Million)
- 7.2.2 U.S.
- 7.2.2.1 Key country dynamics
- 7.2.2.2 U.S. Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.3 Canada
- 7.2.3.1 Key country dynamics
- 7.2.3.2 Canada Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.4 Mexico
- 7.2.4.1 Key country dynamics
- 7.2.4.2 Mexico Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.3 Europe
- 7.3.1 Europe Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.2 Germany
- 7.3.2.1 Key country dynamics
- 7.3.2.2 Germany Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.3 UK
- 7.3.3.1 Key country dynamics
- 7.3.3.2 UK Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.4 France
- 7.3.4.1 Key country dynamics
- 7.3.4.2 France Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.5 Italy
- 7.3.5.1 Key country dynamics
- 7.3.5.2 Italy Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.6 Spain
- 7.3.6.1 Key country dynamics
- 7.3.6.2 Spain Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.3.7 Belgium
- 7.3.7.1 Key country dynamics
- 7.3.7.2 Belgium Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4 Asia Pacific
- 7.4.1 Asia Pacific Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.2 China
- 7.4.2.1 Key country dynamics
- 7.4.2.2 China Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.3 India
- 7.4.3.1 Key country dynamics
- 7.4.3.2 India Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.4 Japan
- 7.4.4.1 Key country dynamics
- 7.4.4.2 Japan Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.5 South Korea
- 7.4.5.1 Key country dynamics
- 7.4.5.2 South Korea Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.6 Singapore
- 7.4.6.1 Key country dynamics
- 7.4.6.2 Singapore Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.4.7 Malaysia
- 7.4.7.1 Key country dynamics
- 7.4.7.2 Malaysia Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.5 Central & South America
- 7.5.1 Central & South America Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.2 Brazil
- 7.5.2.1 Key country dynamics
- 7.5.2.2 Brazil Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.5.3 Argentina
- 7.5.3.1 Key country dynamics
- 7.5.3.2 Argentina Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.6 Middle East & Africa
- 7.6.1 Middle East & Africa Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.6.2 Saudi Arabia
- 7.6.2.1 Key country dynamics
- 7.6.2.2 Saudi Arabia Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.6.2 South Africa
- 7.6.2.1 Key country dynamics
- 7.6.2.2 South Africa Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.6.2 Kuwait
- 7.6.2.1 Key country dynamics
- 7.6.2.2 Kuwait Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.6.2 Iran
- 7.6.2.1 Key country dynamics
- 7.6.2.2 Iran Monoethylene Glycol Market Estimates & Forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 8 Competitive Landscape
- 8.1 Key Global Players & Recent Developments & Their Impact on the Industry
- 8.2 Company Categorization
- 8.3 Company Market Positioning
- 8.4 Company Heat Map Analysis
- 8.5 Strategy Mapping
- 8.6 Company Listing (Business Overview, Financial Performance, Product Benchmarking)
- 8.6.1 MEGlobal
- 8.6.2 Ishtar Company, LLC
- 8.6.3 Raha Group
- 8.6.4 India Glycols Limited
- 8.6.5 Kimia Pars Co.
- 8.6.6 LyondellBasell N.V.
- 8.6.7 Arham Petrochem Private Limited
- 8.6.8 Indian Oil Corporation Ltd.
- 8.6.9 Pon Pure Chemicals Group
- 8.6.10 ACURO ORGANICS LIMITED
- 8.6.11 SABIC
- 8.6.12 Euro Industrial Chemicals
- 8.6.13 Shell
- 8.6.14 UPM Biochemicals