Mono Ethylene Glycol Market Trends 2019, Industry Share, Size Estimation, Opportunities, Analysis and Forecast to 2023
May 2, 2019
Global Mono-Ethylene Glycol Market Information: By Application (Polyester Fiber, Polyethylene Terephthalate, Antifreeze & Coolants, Solvent, Chemical Intermediate), End-Use Industries (Packaging, Automotive, Textiles, Chemicals, And Others), And Region Forecast Till 2023
Pune, India - May 2, 2019 /MarketersMedia/ —
Monoethylene Glycol, the abbreviated form of MEG, is an essential organic compound that is colorless, free from any odor, has a sweet-like taste, and is syrupy liquid in texture. It is composed from ethylene via ethylene oxide. It is a highly important raw material used for the manufacturing of resins, heat transfer fluids, deicing fluids, water-based adhesives, automotive anti-freeze and coolants, latex paints and asphalt emulsions, textile fibers, electrolytic capacitors., paper, and leather.
The Global Monoethylene Glycol Market is expected to grow at an impressive pace during the forecast period of 2017 to 2023. The team at Market Research Future (MRFR) have gone above and beyond to find the potential reach of the market and its important classifications. In a report released by them, they have identified and noted down some of the key and driving factors that is expected to push the growth of the global market.
Changing lifestyle of consumers, ongoing trends in fashion in regard to the apparels that are freshly designed, rapid-paced urbanization, growing use of mono-ethylene glycol for the production of polyester fiber and polyethylene terephthalate (PET), ongoing industrialization, increasing and widening population base, growing demand from the fiber and textile industry, the bio-degradable nature of the product, the imperative need for non-ionic surfactant are among the key drivers behind the growth of the global market.
Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/2709
Furthermore, the superior and characteristics of Monoethylene Glycol like low freezing point, high boiling point, and high viscosity have also subsequently increased the demand for the product in the use of manufacturing coolants and deicing materials.
On the flip side, factors like the burgeoning prices of crude oil, volatility of raw materials, health hazards linked with the use of the product, regulations imposed concerning the protection of the environment are some of the key factors that can dampen the growth of the global market.
Competitive Landscape:
The Dow Chemical Company (US)
Formosa Plastics Corporation (Taiwan)
Chemical Corporation (South Korea)
China Petroleum & Chemical Corporation (China)
BASF SE (Germany)
Akzo Nobel N. V. (Netherlands)
LOTTE Mitsubishi Chemical Corporation (Japan MEGlobal) (UAE)
SABIC (Saudi Arabia)
Exxon Mobil Corporation (US)
Royal Dutch Shell PLC (Netherlands)
November 2018, Sabic and Shell is slated to have nominated their Monoethylene Glycol Asia Contract Price for the month of December at more than $100/mt lower than what they did in November as per sources.
Market Segmentation:
The Global Monoethylene Glycol Market segmentation is classified on the basis of two key dynamics for the convenience of understanding, namely end-user industries and application.
By Application, the market includes antifreeze & coolants, polyester fiber, polyethylene terephthalate, chemical intermediate, solvent, and others. Among these, the polyester fiber segment is expected to attain the maximum share of the market during the forecast period and retain its dominant position.
By End-User Industries, the market segments into textiles, packaging, paper, automotive, chemicals, leather, and others.
Regional Analysis:
The Global Monoethylene Glycol Market is regionally segmented across the following regions: North America, Europe, Asia Pacific, and the Middle East & Africa.
The Asia Pacific region is positioned to be the fastest growing market in the Global Monoethylene Glycol Market over the forecast period. This is due to the proliferating demand for polyester fiber in the region. Add to this, the region is also expected to grow in profound fashion due to the increasing industrial sector across developing economies herein like China and India.
Both North America and Europe are two significant regions in the global landscape. However, they are expected to experience sluggish growth during the forecast period. This is due to the strict and disciplined regulations imposed by government and non-government associations on the manufacturing of the product. Some notable associations include the European Protection Agency, Toxic Substances Control Act, and the European Union, who are consistently bringing-forward new regulations and hampering the growth of the region herein.
The Latin America and the Middle East & Africa is forecasted to experience an impressive growth in their individual markets due to the ongoing shifting trend concerning the production of Monoethylene Glycol instead of paraxylene. The significant increase in production and the rising exportation are two major factors that are further expected to drive the overall growth of the market.
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.
Contact Info:
Name: Abhishek Savant
Email: Send Email
Organization: Market Research Future
Address: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/mono-ethylene-glycol-market-2709
Source: MarketersMedia
Release ID: 508390
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.
About Us
The Final Scoreboard has fast, accurate live scores for you. We provide premium online content from in-depth analysis to the scores and statistics across American and European Sports.