Market Research Future Published a Cooked Research Report on Mono Ethylene Glycol (MEG) Market Research Report - Forecast to 2025
Global Mono Ethylene Glycol Market is expected to exhibit a progressive CAGR of more than 5% over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The Global Mono Ethylene Glycol Market is mainly driven by the growing demand for Mono Ethylene Glycol in the production of anti-freeze, coolants, stabilizers, and PET plastics. The growth of these end-use industries is likely to be a major driver for the Global Mono Ethylene Glycol Market over the forecast period. The report presents a comprehensive overview of the Global Mono Ethylene Glycol Market by providing a detailed analysis of the market’s historical growth trajectory and linking the market’s past growth trends to current conditions, providing the basis for future growth projections.
Mono Ethylene Glycol (MEG) is widely used in the production of polyester fiber and polyethylene terephthalate (PET) resin. The market for PET resin has grown rapidly over the last few years due to the growing demand for PET bottles and other containers. PET has become a popular plastic in the manufacturing industry due to its easy moldability and its high resistance to heat, chemicals, and other environmental factors. Plastic sheets and films are also made from PET, further adding to the utility of the product. This is likely to be a major driver for the Global Mono Ethylene Glycol Market over the forecast period, considering the growing potential for the application of PET in the production of tire cords, bottles, textiles, and other substances.
Mono Ethylene Glycol is also used as a stabilizer in heat transfer fluids in applications such as process chillers, gas compressors, and HVAC equipment, as well as in water-based formulations of adhesives, paints, and coatings. The stabilizing properties of Mono Ethylene Glycol have also made it a widely demanded material, with the growing demand for stable HVAC fluids, compression fluids, and paints and coatings leading to a growing demand from the Mono Ethylene Glycol Market. Polyester fibers are also likely to be a major end use avenue for the Global Mono Ethylene Glycol Market, as polyester is being widely used in the production of various textiles, including personal use fabrics, industrial textiles, and other woven and nonwoven fabrics.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/2709
Competitive Analysis:
Leading players in the Global Mono Ethylene Glycol Market include India Glycols Limited, Reliance Industries Limited, Lotte Chemical Corporation, LyondellBasell Industries Holdings BV, Nan Ya Plastics Corporation, Petro Rabigh, MEGlobal, China Petroleum & Chemical Corporation, Exxon Mobil Corporation, Mitsubishi Chemical Corporation, SABIC, Dow, and Royal Dutch Shell plc.
Leading players in the Mono Ethylene Glycol Market are likely to focus on production capacity expansion in the coming years as the major competitive strategy. Players are also likely to increasingly focus on the development of Mono Ethylene Glycol through biobased means, as biobased mono ethylene glycol has very little adverse repercussions for the environment and is thus being preferred in several industries. Government agencies are also likely to support the growth of biobased Mono Ethylene Glycol operations, leading to growth in the field.
In October 2019, Indorama Ventures announced that its ethylene oxide/MEG operation in Clear Lake, Texas, has resumed full operation following an interruption in September in the supply of utilities to the facility.
Segmentation:
The Global Mono Ethylene Glycol (MEG) Market has been segmented based on Technology, Function, Application and Region.
Based on Technology, the Global Mono Ethylene Glycol (MEG) Market has been classified as gas-based, naphtha-based, coal-based, bio-based, and others.
By Function, the Global Mono Ethylene Glycol (MEG) Market has been divided into chemical intermediate, solvent coupler, solvent, and humectant.
Based on Application, the Global Mono Ethylene Glycol (MEG) Market has been segmented into polyester fiber, PET products, anti-freeze coolant, industrial, and others.
Regional Analysis:
Asia Pacific holds the largest share in the Global Mono Ethylene Glycol Market, followed by Europe. China alone accounts for 35% of the Global Mono Ethylene Glycol Market and is likely to remain a leading regional entity in the coming years.
Browse Key Industry Insights spread across 140 pages with 47 market data tables & 12 figures & charts from the report, “Mono Ethylene Glycol (MEG) Market Information: By Technology (Gas-Based, Naphtha-Based, Coal-Based, and Bio-Based), Function (Chemical Intermediate, Solvent Coupler, Solvent, and Humectant), Application (Polyester Fiber, PET Products, Anti-Freeze Coolant, and Industrial) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2025” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/mono-ethylene-glycol-market-2709
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
No comments:
Post a Comment