Monoethylene Glycol (MEG) Market expected to grow at a CAGR of 4.5% with Industry Size, Share and Rising Trend till 2022


Posted January 22, 2019 by armaan007

Monoethylene Glycol (MEG) market was valued at USD 23.12 billion in 2016 and is projected to reach USD 30.40 billion by 2022

 
The report "Monoethylene Glycol (MEG) Market by Application (Fiber, PET, Antifreeze & Coolant, Film), Technology, and Geography (Asia Pacific, North America, Europe, Middle East & Africa, and South America) - Global Forecast to 2022", Growing demand for MEG in the Fiber, PET, and film applications coupled with high demand in APAC region are driving the MEG market. The growing demand for polyester in textile industry is driving the demand of MEG in textile end-use industry. The textile end-use industry is expected to witness a large demand of MEG in the market especially in countries such as China and India. Increasing use of PET in this region in packaging which is an ever-growing end-use industry in the developing countries would support the growth in demand for MEG.

Request For Free Sample Report: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=19801030

Browse 71 market data Tables and 40 Figures spread through 123 Pages and in-depth TOC on "Monoethylene Glycol (MEG) Market"

On the basis of application, MEG market has been segmented into fiber, PET, film, antifreeze & coolant and other industrial applications. Fiber is the largest application owing to its high demand in textile end-use industry. Increasing demand for synthetic fiber is encouraging the use of PET and polyester fiber thus driving the production of fiber and hence increasing the demand for MEG. Fiber is also the largest application of MEG in APAC which has the largest market share globally. This region is the largest manufacturer as well as supplier for textile and apparel across the globe. China, India and other Asian nations are the top exporters of synthetic yarn in the world. APAC region contributes to approximately 90% of polyester production in 2012 thus contributing to global MEG demand significantly.

Antifreeze & coolant is the fastest growing application owing to its high growth in automotive and chemical end-use industries. Ethylene glycol is the most widely used coolant in APAC which is also the fastest growing market and accounted for more than 80% of the total coolant market in 2015.

Based on region, the MEG market has been segmented into APAC, North America, Europe, the Middle East & Africa, and South America. APAC is the largest and fastest growing market for MEG. China which dominates APAC has half the demand for MEG globally. China, India, and North and South Asian countries largely contribute to the demand for MEG. Textile, Packaging, Automotive and chemical industries drive the applications of MEG. The high growth in automotive and packaging industries and have propelled the growth of MEG in this region.

Major manufacturers dominated in the MEG Market are SABIC (Saudi Arabia), Formosa (Taiwan), Dow (US), BASF SE (Germany), MEGlobal (UAE), Sinopec (China), Shell (Netherlands), Reliance (India), and SIBUR (Russia). These companies undertake dynamic business strategies that propel the growth of the MEG Market.

Early buyers will receive 10% customization on this report.

Don't miss out on business opportunities in Monoethylene Glycol (MEG) Market.

Speak to Our Analyst and gain crucial industry insights that will help your business grow.

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=19801030

About MarketsandMarkets

MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC. 
630 Dundee Road 
Suite 430 
Northbrook, IL 60062 
USA: 1-888-600-6441 
[email protected]
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Markets And Markets
Country India
Categories Engineering , Industry , Technology
Tags meg industry , meg market , monoethylene glycol , monoethylene glycol application , monoethylene glycol industry , monoethylene glycol manufacturers
Last Updated January 22, 2019