The Monoethylene Glycol Market was worth USD 21.45 billion in the year 2014 and is expected to reach approximately USD 38.71 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 6.78% during the forecast period. The worldwide Monoethylene glycol market is anticipated to encounter a critical development over the figure time frame. The market is anticipated to be impacted by increasing demand of MEG as raw material for the production of polyester fibers. Monoethylene glycol (MEG) is a critical crude material for modern applications. An essential utilization of MEG is in the production of polyester (PET) gums, movies and filaments. Even, MEG is essential in the creation of liquid catalysts, coolants, flying machine hostile to icer and deicers and solvents. It can be also utilized for applications that require compound intermediates for gums, dissolvable couplers, the point of solidification misery, solvents, humectants and synthetic intermediates. These applications are essential to the fabricate of an extensive variety of items, including pitches, deicing liquids, warm exchange liquids, car radiator fluid and coolants, water-based glues, latex paints and black-top emulsions, electrolytic capacitors, material filaments and paper.
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The market includes various competitors prevailing across regions. The prevalent business players incorporate SABIC, The Dow Chemicals, Regal Dutch, AkzoNobel, Mitsubishi Compound and Dependence Enterprises, which by and large holds more than 40% of the aggregate piece of the pie. The other market players include Lotte Chemical Corporation, Nan Ya Plastics Corporation, Sinopec Zhenhai Refining & Chemical Company, LyondellBasell Industries, MEGlobal, ExxonMobil Corporation, India Glycols and ChemtexSpeciality Limited.
The Monoethylene Glycol (MEG) Market is segmented as follows-
- Low Conductivity
- Polyester Fiber
- Antifreeze & Coolants
- Chemical Intermediates
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