Global Monoethylene Glycol Market Size Study, by Application (PET, Polyester Fibers, Antifreeze, Others), End-use (Packaging, Automotive, Textile, Plastics), and Regional Forecasts 2022-2032

Description

The Global Monoethylene Glycol (MEG) Market, valued at approximately USD 24.93 billion in 2023, is poised to experience steady growth with a compound annual growth rate (CAGR) of 3.20% from 2024 to 2032. Monoethylene glycol, a crucial raw material in the production of polyester and antifreeze solutions, underpins several industries due to its diverse applications and exceptional properties. Its high water solubility, low volatility, and chemical versatility make it indispensable in textile manufacturing, packaging, and automotive industries.

Rapid industrialization, coupled with the expanding packaging and textile sectors, drives the market's growth trajectory. The rising adoption of polyethylene terephthalate (PET) in beverage containers and packaging applications underscores the increasing demand for MEG. Polyester fibers dominate as the largest application segment, propelled by the surging demand for lightweight, durable, and cost-effective materials in the fashion and home furnishing industries. Additionally, MEG's utility in antifreeze solutions ensures its relevance in automotive and industrial applications.

However, the market faces challenges, including fluctuating raw material prices and growing environmental concerns linked to traditional production processes. These issues have prompted key market players to explore sustainable manufacturing methods, such as bio-based MEG, to mitigate environmental impact and cater to evolving consumer preferences. Furthermore, the increasing focus on circular economy practices offers lucrative growth opportunities for the MEG market in the coming years.

Regionally, Asia-Pacific dominates the global MEG market, driven by robust industrial growth, burgeoning automotive production, and a thriving textile sector in countries like China and India. North America and Europe follow suit, with advancements in sustainable manufacturing practices and high demand in packaging and automotive industries. Emerging economies in Latin America and the Middle East & Africa present promising prospects, supported by infrastructure development and increasing adoption of advanced textiles and polymers.

Major market players included in this report are:

SABIC
BASF SE
Royal Dutch Shell PLC
Reliance Industries Limited
The Dow Chemical Company
LyondellBasell Industries N.V.
China Petroleum & Chemical Corporation (Sinopec)
Mitsubishi Chemical Holdings Corporation
Formosa Plastics Corporation
Huntsman Corporation
MEGlobal International FZE
Nan Ya Plastics Corporation
India Glycols Limited
Indorama Ventures Public Company Limited
ExxonMobil Corporation

The detailed segments and sub-segment of the market are explained below:

By Application:

PET
Polyester Fibers
Antifreeze
Others

By End-use:

Packaging
Automotive
Textile
Plastics

By Region:

North America:

U.S.
Canada

Europe:

UK
Germany
France
Spain
Italy
Rest of Europe

Asia-Pacific:

China
India
Japan
Australia
South Korea
Rest of Asia-Pacific

Latin America:

Brazil
Mexico

Middle East & Africa:

Saudi Arabia
South Africa
Rest of Middle East & Africa

Years considered for the study are as follows:

Historical Year: 2022
Base Year: 2023
Forecast Period: 2024-2032

Key Takeaways:

Comprehensive market estimates and forecasts spanning from 2022 to 2032.
Detailed segmentation analysis by application and end-use sectors.
Regional insights with country-specific market dynamics.
In-depth competitive landscape evaluation, including major players' strategies and innovations.
Strategic recommendations for leveraging market opportunities and optimizing business performance.

Chapter 1. Global Monoethylene Glycol Market Executive Summary 1.1. Global Monoethylene Glycol Market Size & Forecast (2022-2032)

1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Application
  - 1.3.1.1. PET
  - 1.3.1.2. Polyester Fibers
  - 1.3.1.3. Antifreeze
  - 1.3.1.4. Others
- 1.3.2. By End-use
  - 1.3.2.1. Packaging
  - 1.3.2.2. Automotive
  - 1.3.2.3. Textile
  - 1.3.2.4. Plastics
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Monoethylene Glycol Market Definition and Research Assumptions 2.1. Research Objective

2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory Frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Monoethylene Glycol Market Dynamics 3.1. Market Drivers

3.1.1. Rising Adoption in Packaging and Textile Industries
3.1.2. Increasing Demand for Antifreeze Solutions in Automotive
3.1.3. Growth in Polyester Fiber Applications

3.2. Market Challenges
- 3.2.1. Fluctuating Raw Material Prices
- 3.2.2. Environmental Concerns Linked to Production Processes
3.3. Market Opportunities
- 3.3.1. Adoption of Bio-based MEG for Sustainability
- 3.3.2. Expansion into Emerging Economies
- 3.3.3. Development of Circular Economy Practices

Chapter 4. Global Monoethylene Glycol Market Industry Analysis 4.1. Porter's 5 Force Model

4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model
4.1.7. Porter's 5 Force Impact Analysis

4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Monoethylene Glycol Market Size & Forecasts by Application 2022-2032 5.1. Segment Dashboard

5.2. Global Monoethylene Glycol Market: By Application Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 5.2.1. PET
- 5.2.2. Polyester Fibers
- 5.2.3. Antifreeze
- 5.2.4. Others

Chapter 6. Global Monoethylene Glycol Market Size & Forecasts by End-use 2022-2032 6.1. Segment Dashboard

6.2. Global Monoethylene Glycol Market: By End-use Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
- 6.2.1. Packaging
- 6.2.2. Automotive
- 6.2.3. Textile
- 6.2.4. Plastics

Chapter 7. Global Monoethylene Glycol Market Size & Forecasts by Region 2022-2032 7.1. North America Monoethylene Glycol Market

7.1.1. U.S. Monoethylene Glycol Market
- 7.1.1.1. Application Breakdown Size & Forecasts, 2022-2032
- 7.1.1.2. End-use Breakdown Size & Forecasts, 2022-2032
7.1.2. Canada Monoethylene Glycol Market
- 7.1.2.1. Application Breakdown Size & Forecasts, 2022-2032
- 7.1.2.2. End-use Breakdown Size & Forecasts, 2022-2032

7.2. Europe Monoethylene Glycol Market
- 7.2.1. UK Monoethylene Glycol Market
- 7.2.2. Germany Monoethylene Glycol Market
- 7.2.3. France Monoethylene Glycol Market
- 7.2.4. Spain Monoethylene Glycol Market
- 7.2.5. Italy Monoethylene Glycol Market
- 7.2.6. Rest of Europe Monoethylene Glycol Market
7.3. Asia-Pacific Monoethylene Glycol Market
- 7.3.1. China Monoethylene Glycol Market
- 7.3.2. India Monoethylene Glycol Market
- 7.3.3. Japan Monoethylene Glycol Market
- 7.3.4. Australia Monoethylene Glycol Market
- 7.3.5. South Korea Monoethylene Glycol Market
- 7.3.6. Rest of Asia-Pacific Monoethylene Glycol Market
7.4. Latin America Monoethylene Glycol Market
- 7.4.1. Brazil Monoethylene Glycol Market
- 7.4.2. Mexico Monoethylene Glycol Market
- 7.4.3. Rest of Latin America Monoethylene Glycol Market
7.5. Middle East & Africa Monoethylene Glycol Market
- 7.5.1. Saudi Arabia Monoethylene Glycol Market
- 7.5.2. South Africa Monoethylene Glycol Market
- 7.5.3. Rest of Middle East & Africa Monoethylene Glycol Market

Chapter 8. Competitive Intelligence 8.1. Key Company SWOT Analysis

8.1.1. SABIC
8.1.2. BASF SE
8.1.3. Royal Dutch Shell PLC

8.2. Top Market Strategies
8.3. Company Profiles
- 8.3.1. SABIC
  - 8.3.1.1. Key Information
  - 8.3.1.2. Overview
  - 8.3.1.3. Financial (Subject to Data Availability)
  - 8.3.1.4. Product Summary
  - 8.3.1.5. Market Strategies
- 8.3.2. BASF SE
- 8.3.3. Royal Dutch Shell PLC
- 8.3.4. Reliance Industries Limited
- 8.3.5. The Dow Chemical Company
- 8.3.6. LyondellBasell Industries N.V.
- 8.3.7. China Petroleum & Chemical Corporation (Sinopec)
- 8.3.8. Mitsubishi Chemical Holdings Corporation
- 8.3.9. Formosa Plastics Corporation
- 8.3.10. Huntsman Corporation
- 8.3.11. MEGlobal International FZE
- 8.3.12. Nan Ya Plastics Corporation
- 8.3.13. India Glycols Limited
- 8.3.14. Indorama Ventures Public Company Limited
- 8.3.15. ExxonMobil Corporation

Chapter 9. Research Process 9.1. Research Process

9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing

9.2. Research Attributes