Mono Ethylene Glycol Market Scope, Upcoming Trends, Outlook and Future Scenario Forecast Until 2023

“Mono Ethylene Glycol Market”
Mono Ethylene Glycol market is expected to grow at moderate CAGR during 2016-2023, Global Mono Ethylene Glycol Market categorizes the Global Market by Application, End User, and Region | Mono Ethylene Glycol Industry

Monoethylene glycol (MEG) is a colorless, odorless, syrupy liquid with sweet taste. Monoethylene glycol is produced from ethylene via ethylene oxide, which is hydrated through thermal or catalytic process. The product is an important raw material for manufacturing of resins, deicing fluids, heat transfer fluids, automotive antifreeze and coolants, water-based adhesives, latex paints and asphalt emulsions, electrolytic capacitors, textile fibers, paper, and leather.

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The growing demand for monoethylene glycol in the production of polyester fiber and polyethylene terephthalate (PET) is the major factor influencing the market growth. Around 55% of monoethylene glycol is consumed for the production of polyester fiber, and 25% goes into the polyethylene terephthalate (PET). The increasing use of polyethylene terephthalate in packaging items such as tetra packs and bottles due to its bio-degradability is likely to drive the market growth. The growing industrial sector such as manufacturing, agriculture, mining, and others across the globe is another factor propelling the global mono-ethylene glycol market growth. Some of the noted trends in the global mono-ethylene glycol market include product launch and process developments, for instance, the new product launches such as Accepta 870X and 8703 in the year 2017 by Accepta Ltd are high-performance industrial antifreeze based on monoethylene glycol, which can protect engineered systems to extremely low temperature as -50ºC. Additionally, Shell Global developed a new catalytic process called OMEGA (Only MEG Advantage) for producing mono-ethylene glycol from ethylene oxide, which produces virtually no byproducts and achieves an efficiency of 99% conversion. This process utilizes 20% less steam and 30% less water than the traditional thermal conversion process, which reduces the carbon dioxide emission per ton of MEG produced. However, the volatility in raw material cost and health hazards related to the product use may prove to be a challenging for the market growth. Nevertheless, the production of bio-based MEG from sugar are likely to provide substantial opportunities to the market growth over the assessment period.

Regional Analysis

The global mono-ethylene glycol market is segmented into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

The Asia Pacific is the fastest emerging growing region in the global mono-ethylene glycol market due to the rising demand for polyester fiber in the region. The increasing industrial sector in countries such as China and India is the driving the market growth.  

North America and Europe are expected to witness a sluggish growth due to the stringent regulations imposed on the manufacturing of the product by various associations such as Toxic Substances Control Act, European Protection Agency, and European Union.

Latin America and the Middle East & Africa are expected to experience a significant market growth due to the shifting trend for the production of monoethylene glycol instead of Paraxylene, which can be used to produce terephthalic acid (TPA), purified terephthalic acid (PTA) and dimethyl terephthalate (DMT) as it is easier to obtain overall profitability. The increasing production coupled with the exportation is likely to drive the market growth.

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The global mono-ethylene glycol market is segmented on the basis of the application, end-use industries, and region.

On the basis of the application, the global mono-ethylene glycol market is segmented into polyester fiber, polyethylene terephthalate, antifreeze & coolants, solvent, chemical intermediate, and others.

Based on the end-use industries, the market is sub-segmented into packaging, automotive, textiles, chemicals, paper, leather, and others.


Key Players

Some of the manufacturers operating in the global mono-ethylene glycol market are SABIC (Saudi Arabia), The Dow Chemical Company (U.S.), Akzo Nobel N. V. (Netherlands), Mitsubishi Chemical Corporation (Japan), Royal Dutch Shell plc (Netherlands), LOTTE Chemical CORPORATION (South Korea), China Petroleum & Chemical Corporation (China), Exxon Mobil Corporation (U.S.), BASF SE (Germany), MEGlobal (UAE), and Formosa Plastics Corporation (Taiwan).

Intended Audience

  • Monoethylene glycol Manufacturers
  • Traders and distributors of mono-ethylene glycol
  • Research and development institutes
  • Potential investors
  • Raw material suppliers
  • Nationalized laboratory

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