Monoethylene Glycol (MEG) is an odorless and colorless liquid is produced from ethylene in the process manufacturing ethylene oxide. With the production yield of monoethylene glycol (MEG) being well over 80% from the ethylene oxide process, it is widely produced for commercial processes. Along with monoethylene glycol (MEG), the process also produces diethylene, triethylene and tetraethylene glycol as by – products.
Being commercially considered to be the most important glycol available in the market, monoethylene glycol (MEG) is largely consumed in the polyesters fibers and films. Its durability and hydrophobic features make it one of the highly appealed product for manufacturing PET films & polyester fibers.
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Monoethylene Glycol (MEG) Market: Dynamics
The consumption of monoethylene glycol (MEG) is noted to remain highly dependent on the country’s economy. While the cyclic economy is observed in the countries in Asia, for applications such as polyester fibers and PET, the demand for monoethylene glycol (MEG) is anticipated to remain prominent in Asia.
Moreover, the upsurge witnessed in the packaging industry is in turn driving the monoethylene glycol (MEG) market over the historic period. This fuelled with the urbanizations, shifting consumer lifestyle, rising disposable income, among others also have a significant impact on the monoethylene glycol (MEG) market.
One of the noteworthy barrier in the growth of monoethylene glycol (MEG) market is the fluctuations in the raw material prices and the availability of crude oil and other feedstock. The sustainability concerns over monoethylene glycol (MEG) are compelling some of the end users to shift towards alternative products offering enhanced material performance that monoethylene glycol (MEG).
However, the rising acceptance of the bio – based monoethylene glycol (MEG) is anticipated to create opportunity the in monoethylene glycol (MEG) market over the forecast period.
The research & development activities to play a significant role in the market development over the forecast period with numerous market participants already engaged in the developing environment – friendly products.
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Monoethylene Glycol (MEG) Market: Segmentation
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Monoethylene Glycol (MEG) Market: Regional Outlook
From a regional perspective, East Asia is noted to account for a lion’s share in the global monoethylene glycol (MEG) market. While accounting for a behemoth proportion in the regional monoethylene glycol (MEG) market, China is a fast growing market for PET films and polyester fibers.
South Asia with its developing economies, is one of the prominent money spinning regions for monoethylene glycol (MEG) manufacturers around the world. Being a downstream petrochemical product, monoethylene glycol (MEG) producers are largely based in the Middle East & Africa with Saudi Arabia topping the list in terms of net exports per year.
Some of the market participants in the global monoethylene glycol (MEG) market identified across the value chain include Royal Dutch Shell plc, SABIC, Reliance Industries Ltd, Indian Oil Corporation Ltd, LyondellBasell Industries Holdings B.V., Nouryon B.V., BASF SE, Johnson Matthey, Clariant AG, Huntsman Corporation, LG Chem Ltd., Mitsubishi Corporation, Mitsui Chemicals, Inc., Sasol Limited, Shanghai Petrochemical, among others.
The Monoethylene Glycol (MEG) research report presents a comprehensive assessment of the Monoethylene Glycol (MEG) market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies.
The Monoethylene Glycol (MEG) research report provides analysis and information according to market segments such as geographies, scaffold type, position, number of points and number of tiers.
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