The global chemical industry is likely to witness huge growth post the pandemic as the consumption of monoethylene glycol (MEG) remains highly reliant on the country's economic conditions. Despite the cyclical nature of the Asian economies, the demand for monoethylene glycol (MEG) for applications such as polyester fibers and PET is expected to remain high in Asia.

In addition, the packaging industry's growth is driving the monoethylene glycol (MEG) market over the historical period. This, along with urbanization, changing consumer lifestyles, and rising disposable income has a significant impact on the monoethylene glycol (MEG) market.

Fluctuations in the prices of raw materials and the availability of crude oil and other feedstock pose a significant obstacle to the growth of the monoethylene glycol (MEG) market. Some end-users are shifting away from monoethylene glycol (MEG) in favour of products with superior material performance due to monoethylene glycol's (MEG's) environmental impact (MEG).

However, the increasing acceptance of bio-based monoethylene glycol (MEG) is expected to create opportunities in the market for monoethylene glycol (MEG) over the forecast period.

The Azoth Analytics research report titled ‘Global Monoethylene Glycol (MEG) Market Factbook (2022 Edition)’ has been analyzed By Application (Polyester, Polyethylene, Antifreeze, Others), By End User (Textile, Plastic and Packaging, Automotive and Transportation, Others). The Global Monoethylene Glycol (MEG) Market has been analyzed By Region (Americas, Europe, APAC, MEA) and By Country (United States, Canada, Germany, Italy, U.K, France, China, Japan, India, South Korea). The market has been assessed for the historical period of 2018-2021 and the forecast period of 2023-2028. The companies profiled in the report include BASF SE, Lyondellbasell Industries N.V., SABIC, Shell Chemicals, Lotte Chemicals, Dow Chemical Company, AkzoNobel, Exxon Mobil Corporation, Huntsman Corporation, China National Petroleum Corporation.

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https://www.azothanalytics.com/report/chemicals-and-materials/global-monoethylene-glycol-meg-market-2022-edition-analysis-by-application-end-user-by-region-by-country-2022-edition-market-insights-and-forecast-with-impact-of-covid-19-2023-2028

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