The Business Research Company’s report on the Monoethylene Glycol Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the monoethylene glycol market’s growth in recent years?
The rise in the packaging industry is significantly contributing to the growth of the mono ethylene glycol market going forward. Packaging refers to enclosing or protecting products for distribution, storage, sale, and use. As a result, increasing demand in the packaging industry increases the demand for mono ethylene glycol. For instance, in 2022 the Indian packaging industry is currently experiencing annual growth of 14-15%, with expectations for this growth rate to double over the next two years. According to the Indian Packaging Institute, the industry is valued at USD 14 billion and is expanding at a rate exceeding 15% per year. 2021, Therefore, the rise in the packaging industry is driving the growth of the mono ethylene glycol market going forward.
Access Your Free Sample of the Global Monoethylene Glycol Market Report – Get Insights Now!
https://www.thebusinessresearchcompany.com/sample.aspx?id=6595&type=smp
How does the future projection of the monoethylene glycol market size compare to its historical growth?
The monoethylene glycol market size has grown strongly in recent years. It will grow from $35.55 billion in 2024 to $38.31 billion in 2025 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to polyester production, antifreeze and coolants, fiber production, industrial solvents, glycol ethers.
The monoethylene glycol market size is expected to see strong growth in the next few years. It will grow to $54.06 billion in 2029 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to automotive electrification, renewable chemicals, textile recycling, medical and pharmaceutical, cosmetic and personal care. Major trends in the forecast period include advanced coatings, clean energy technologies, biodegradable plastics, packaging sustainability, pet (polyethylene terephthalate) bottle development.
Gain Exclusive Market Insights—Customize Your Research Report Today For Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=6595&type=smp
Which key players are shaping the future of the monoethylene glycol market?
Major companies operating in the monoethylene glycol market include BASF SE, Dow Inc., LyondellBasell Industries Holdings B.V., Royal Dutch Shell plc, MEGlobal B.V., Reliance Industries Limited, Mitsubishi Chemical Corporation, Indian Oil Corporation Limited, Lotte Chemical Corporation, Nan Ya Plastics Corporation, India Glycols Limited, ExxonMobil Corporation, Formosa Plastics Corporation, China Petroleum & Chemical Corporation, SIBUR International GmbH [No information found], Nouryon Holding N.V., Libyan Norwegian Fertiliser Company, AkzoNobel N.V., Saudi Basic Industries Corporation, Vigo Chemicals FZE, Krada CPS Industry S.L., Bredox B.V., Chemie-Handel Schneider GmbH, ICC Chemical Corporation, EQUATE Petrochemical Company, INEOS Group Limited, National Iranian Oil Company, SHAZAND Petrochemical Complex Company, Oriental Union Chemical Corporation
What trends will propel the growth and evolution of the monoethylene glycol market?
Strategic partnerships have emerged as the key trend gaining popularity in the mono ethylene glycol market. Major companies operating in the mono ethylene glycol sector are looking for partnerships to reinforce their position in the market. For instance, in March 2022, Sojitz Corporation, a Japan-based trading company, partnered with Braskem S.A., a Brazil-based petrochemical company to produce biomass-derived monoethylene glycol (bioMEG) and monopropylene glycol (bioMPG). As a result of the partnership, a joint venture company has been established to produce biomass-derived monoethylene glycol (bioMEG) and monopropylene glycol (bioMPG). Braskem, a market leader and pioneer in industrial-scale biopolymer production, has been collaborating with Haldor Topsoe A/S to develop innovative production processes for bioMEG and bioMPG, utilizing Haldor Topsoe A/S’s key technology for this project. A demonstration plant began operations in 2020, and the new joint venture between Sojitz and Braskem will focus on scaling up this production process for commercialization. Sojitz will promote these sustainable materials by leveraging its extensive global customer networks across various industries, including chemicals, food and beverages, and apparel.
Which regions are expected to become dominant players in the monoethylene glycol market?
Asia-Pacific was the largest region in the mono ethylene glycol market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the monoethylene glycol market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Order Your Report Now For Swift Delivery
https://www.thebusinessresearchcompany.com/report/monoethylene-glycol-global-market-report
What are the emerging key segments in the monoethylene glycol market, and how are they evolving?
The monoethylene glycol market covered in this report is segmented –
1) By Production Process: Gas-Based, Naphtha-Based, Coal-Based, Methane-to-Olefins (MTO), Bio-Based
2) By Application: Polyester Fiber, Polyethylene Terephthalate (PET) Resins, Polyethylene Terephthalate (PET) Film, Antifreeze, Other Applications
3) By End Users: Textiles and Leather, Packaging, Adhesives and Sealants, Paints and Coatings, Chemical, Other End Users
Subsegments:
1) By Gas-Based: Steam Cracking, Oligomerization
2) By Naphtha-Based: Catalytic Cracking, Hydrocracking
3) By Coal-Based: Gasification, Liquefaction
4) By Methane-to-Olefins (MTO): Direct MTO Process, Indirect MTO Process
5) By Bio-Based: Ethanol-Based Process, Renewable Feedstocks Process
Purchase The Exclusive Report Now To Unlock Valuable Market Insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6595
How is the monoethylene glycol market defined?
The mono ethylene glycol is used in the manufacturing of polyester and as a corrosion inhibitor in antifreeze and coolants. Monoethylene glycol is an odorless and colorless chemical substance that is produced from ethylene in the process of manufacturing ethylene oxide.
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model, is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
https://thebusinessresearchcompany.com/
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
