Monoethylene Glycol (MEG) Market Size, Application Report

Monoethylene Glycol (MEG) Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2015 To 2022

Format: PDF  |  Report ID: GVR1492

Global MEG market is expected to witness significant growth over the forecast period on account of its widespread applications in numerous end-use industries including consumer goods, construction, automotive, pharmaceutical, textiles and chemical processing. Increasing demand for polyester fiber from the global textile industry has triggered increased production of MEG which is expected to be a major driver for market growth. Increasing application scope of polyethylene terephthalate (PET) in numerous consumer good products such as food containers and bottles is anticipated to propel demand for MEG over the next seven years.  Rapid urbanization and changing lifestyle of consumers, particularly in emerging economies including China, India, Brazil and Mexico has been driving the packaging industry which in turn is anticipated to provide impetus to MEG market over the forecast period. Owing to their superior chemical properties including high viscosity, low freezing point and high boiling point MEG is widely employed in the manufacture coolants and deicing materials. Burgeoning automotive sector coupled with aircraft manufacturing units in emerging economies of Asia Pacific and Latin America is further likely to fuel market demand. However, threat of substitutes from higher glycol byproducts such as DEG and TEG coupled with high cost involved in refining of ethylene glycols is challenge MEG market over the next seven years. Potential health hazards of MEG on account of its toxic nature are further anticipated to pose a credible threat to market.

Monoethylene glycol is primarily used in the manufacturing of PET and polyester resins. Rising demand for PET containers from various commercial and industrial end-use markets including packaging due to better strength and impact resistance is expected to positively drive MEG market over the next seven years. Polyester fabrics are extensively used in apparels, home furnishings, yarns & ropes and other industrial applications including conveyer belts and insulating tapes which are likely to drive the demand for MEG over the forecast period. Market for MEG is segmented on the basis of application into polyester resins, PET, antifreeze & coolants, chemical intermediates and heat transfer fluids. Polyester resin along with PET was the largest application segments in 2014 accounting for more than half of the global consumption. Polyester resin is expected to be the fastest growing segment over the forecast period owing to surging textile industry in China and India.

Asia Pacific was the largest market in 2014 accounting for nearly half of the global consumption on account of rapid growth in numerous end-use industries including consumer goods, textile and automobile in China, India and South Korea. Latin America is also expected to have strong growth prospects over the next seven years on account of rapid industrialization in Brazil and Mexico. North America and Europe are anticipated to have moderate growth rates owing to their gradual recovery from the economic slowdown.  

Major market participants include LyondellBasell, The Dow Chemical Company, MEGlobal, SABIC, ExxonMobil Corporation, Formosa Plastic Group, AkzoNobel and Honam Petrochemical Corporation. 

Key questions answered by the report
Request for Customization

Choose License Type:

Single User - $4,950
Multi User - $7,950
Enterprise User - $9,950

Special Pricing & Discounts

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA