Monoethylene Glycol Market: Introduction

Monoethylene glycol is a colorless, odorless, and barely viscous liquid that is miscible in water, aldehydes, alcohols, and many other organic compounds. It is an organic compound used primarily as a raw material in the manufacture of polyethylene terephthalate resins (PET), which are employed in bottles and polyester fibers in the fabric industry. It cannot dissolve heavy petroleum and vegetable oils, cellulose acetate, and rubber.

Monoethylene glycol is low volatile and hygroscopic compared to glycerol at room temperature. In its pure form, monoethylene glycol is a colorless liquid with sweet taste. The production of ethylene glycol is carried out from ethylene through the intermediate ethylene oxide.

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This report provides detailed analysis and forecast of the monoethylene glycol market on a global and regional level from 2020 to 2031. On the global level, the monoethylene glycol market has been segmented based on volume (kilo tons) and revenue (US$ Bn) from 2020 to 2031. In order to provide in-depth understanding of the market at the regional level, the demand for monoethylene glycol has been forecast in terms of volume (kilo tons) and revenue (US$ Bn) from 2021 to 2031.

Monoethylene Glycol Market: Key Players

The global monoethylene glycol market is competitive and fairly fragmented with the presence of key players. Prominent players operating in the global monoethylene glycol market include Royal Dutch Shell Plc, SABIC, Dow Chemical Company, MEGlobal, LyondellBasell Industries N.V., Reliance Industries Limited, Indian Oil Corporation Limited, BASF SE, GC Glycol Company Limited, Mitsubishi Chemical Corporation (MCC), SIBUR, NAN YA PLASTICS CORPORATION, and Clariant.

Monoethylene Glycol Market: Prominent Regions

Asia Pacific dominates the global monoethylene glycol market. The market in the region is anticipated to expand at a CAGR of more than 7% during the forecast period. Increase in demand for chemical intermediates, humectants, and resins is driving the monoethylene glycol market in Asia Pacific. Taiwan, China, and India are key countries of the monoethylene glycol market in Asia Pacific. They held major share of the monoethylene glycol market in Asia Pacific in 2020. These countries are estimated to maintain their dominant position in the region during the forecast period.

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The demand for monoethylene glycol in Europe and North America is likely to decline in the near future, due to rise in concerns over sustainability of the material and sluggish economic growth.

Global Monoethylene Glycol Market: Segmentation

Monoethylene Glycol Market, by Application

Polyester Fiber
Polyethylene Terephthalate (PET)
Antifreeze
Others (including Intermediate Chemicals)
Monoethylene Glycol Market: Dynamics

Polyester films and resins hold relevance across a multitude of high-end industries, and this is an integral dynamic of market growth. Polyester fibers and films can be manufactured from monoethylene glycol, thus driving the growth graph of market vendors. Rise in usage of monoethylene glycol in anti-freeze formulations is a prominent driver of the global monoethylene glycol market. Other similar applications of monoethylene glycol span solvents and anti-icers for aircraft. Considering these factors stated above, the global monoethylene glycol market is expected to expand substantially in the near future.

Plastic & Polyester Production Processes Create Stable Revenue Streams

Antifreeze applications are creating stable revenue streams for manufacturers in the monoethylene glycol market. They are extending production arms to unlock income sources for the production of hydraulic brake fluids and cooling systems such as in vehicles and air conditioning units, as it acts as a coolant & heat transfer agent. The strong demand for MEG is evident in the plastic industry, as it is a vital ingredient in the production of polyester fibers, resins, and films.

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Monoethylene Glycol Market: Overview
Monoethylene glycol is a sweet syrupy liquid, which is colorless and odorless in its purest form. Monoethylene glycol is used in chemical intermediates for humectants, chemical intermediates, freezing point depression, solvents, resins, and solvent couplers. These applications of monoethylene glycol are considered crucial in the manufacture of a wide variety of products such as coolants and automotive antifreeze, deicing fluids, asphalt emulsions and latex paints, heat transfer fluids, resins, leather and paper, electrolytic capacitors, textile fibers, and water-based adhesives.
According to Transparency Market Research’s latest research report on the monoethylene glycol market for the forecast period of 2021 to 2031, rise in usage of monoethylene glycol in the textile industry is a key factor that is expected to boost the global monoethylene glycol market during the forecast period
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