“We have produced a new premium report Monoethylene Glycol Market. The report covers the analysis of global as well as regional markets of Monoethylene Glycol. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Monoethylene Glycol Market by grades (polyester grade, industrial grade, antifreeze grade and low conductivity grade), by applications (polyester resin, polyester fibers, antifreeze & coolants, chemical intermediates, heat transfer fluids) through main geographies in the global market such as North America, Europe, Asia-Pacific and RoW. The global monoethylene glycol market is projected to grow with a CAGR between 6.0% and 6.5% during 2017-2023.
The report covers market changing dynamics including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Monoethylene Glycol Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Monoethylene Glycol Market are Sabic, The Dow Chemical Company, Royal Dutch Shell Plc, Reliance Industries Limited, Nan YA Plastics (Huizhou), Zhenhai Refining & Chemicals, BASF SE, ExxonmobilCorportion, Formosa Plastic Group, Akzonobel, Lyondellbasell, Meglobal and Honam Petrochemical Corporation.”
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Increasing Demand for Polyester Fiber and Polyethylene Terephthalate from the Global Textile Industry Has Driving the Growth of Monoethylene Glycol Market
The global Monoethylene glycol market was sized over USD 25 billion in 2015. The global Monoethylene glycol market is projected to grow with a CAGR between 6.0% and 6.5% during 2017-2023. Increasing demand of mono ethylene glycol in end use industries such as consumer goods, construction, automotive, pharmaceutical, textiles and chemical remains the key factor driving the growth of global mono ethylene glycol market. In addition, increasing use of mono ethylene glycol in polyester fiber and polyethylene terephthalate is likely to drive the growth of market. Furthermore, rapid urbanization and changing lifestyle of consumers especially in emerging economies such as China, India, Mexico and Brazil has been driving the polyethylene terephthalate, one of the key materials used in packaging sector which in turn is projected to boost the global mono ethylene glycol market over the forecast period. Moreover, fluctuation in prices of raw materials and sustainability issues related to mono ethylene glycol are the key factors restraining the growth of this market. Increasing popularity of bio based MEG and increasing R&D of ecofriendly alternatives that can help in removing the toxic nature of mono ethylene glycol are likely to bring more opportunities to this market.