Based on grade, monoethylene glycol market is segmented into polyester, industrial, antifreeze, and low conductivity. With a major share in the market, the polyester grade will witness significant gains over the forecast time spell driven by its extensive applications in the packaging and textiles industry. The product exhibits exceptional performance, strength, and mechanical properties.
Monoethylene Glycol Market will be propelled by rising usage of polyethylene terephthalate (PET) in various applications, consumer products including bottles and food containers. Changing consumer lifestyles, increasing the purchasing power of the population, and rapid urbanization in emerging economies including India, China, Mexico, and Brazil will foster the packaging industry in these countries. This will boost the monoethylene glycol market in these regions in the coming years.
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Diethylene glycol (DEG) or diglycol, and triethylene glycol (TEG), popularly known as triglycol are the glycol byproducts, which act as substitutes. The high cost of refining ethylene glycol refining acts as a hindrance and is said to challenge the monoethylene glycol market in the upcoming years. Moreover, potential health hazards of the product owing to its toxic nature will further hamper the growth of the monoethylene glycol industry in the future years.
Considering application, the monoethylene glycol market is bifurcated as PET, polyester fiber, antifreeze & coolants, chemical intermediates, and others. The significant automotive industry growth will propel the antifreeze & coolants market to surpass USD 3 billion by the end of the forecast period.
The huge textile and packaging industry coupled with strong development in the automotive industry will foster the monoethylene glycol market in the Asia Pacific region. Asia Pacific will be the fastest growing region led by India and China owing to strong growth opportunities in these countries. With a collated share close to USD 10 billion, North America and Europe will capture close to 25% monoethylene glycol industry by 2024.
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Major players operating in the monoethylene glycol market include Reliance Industries, Mitsubishi Chemical, akzonobel, Royal Dutch, The Dow Chemicals, and SABIC. These companies being significant players hold close 45% market share collectively. Other prominent companies are exxonmobil Corporation, meglobal, lyondellbasell Industries, Sinopec Zhenhai Refining & Chemical Company, Nan Ya Plastics Corporation, Lotte Chemical Corporation, Chemtex Specialty, and India Glycols to name a few.
Major Point From Table Of Content:
Chapter 5. Monoethylene Glycol Market, By Application
5.1. Global market share by application, 2016 & 2024
5.2. Polyester fiber
5.2.1. Market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecasts by region, 2013 – 2024
5.3.1. Market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecasts by region, 2013 – 2024
5.4. Antifreeze & coolants
5.4.1. Market estimates and forecasts, 2013 – 2024
5.4.2. Market estimates and forecasts by region, 2013 – 2024
5.5. Chemical intermediates
5.5.1. Market estimates and forecasts, 2013 – 2024
5.5.2. Market estimates and forecasts by region, 2013 – 2024
5.6.1. Market estimates and forecasts, 2013 – 2024
5.6.2. Market estimates and forecasts by region, 2013 – 2024
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