Monoethylene Glycol Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Grade (High Purity Monoethylene Glycol (MEG), Anti-Freeze Monoethylene Glycol (MEG)), By Production Process (Bio-Based MEG, Gas-Based MEG, Naphtha-Based MEG, Coal-Based MEG, and Others), By End-User Industry (Textile & Leather, Packaging, Adhesives & Sealants, Paints & Coatings, and

China produces roughly seven million metric tons of plastic products every month.

Monoethylene glycol (MEG) is an essential feedstock used in the production of polyester fibers, polyethylene terephthalate (PET) resins, and engine coolants. China has universally aced in the manufacturing and consumption of Monoethylene Glycol among other countries. Other countries in Asia Pacific such as Singapore is gradually attracting foreign investment opportunities to build manufacturing units with optimum production capacity. Cash flow rich companies in the monoethylene glycol market are escalating R&D for the proprietary advanced process technology for of MEG which is garnering the growth of Global Monoethylene Glycol market during the forecast period.

Development of Textile Industry as well as Growing Dominance of Polyester Fiber

According to the European Commission, “The Textile Industry has undergone a disruptive change recently to ensure that its competitiveness stays at the top by shifting towards high quality value-added products. Textile and clothing have seen a strong export performance. Exports increased by 58% between 2010-2019, whilst imports increased by 43%”.

Rising Demand for MEG in manufacturing of PET Packaging applications

The paper and packaging sector in India is growing rapidly and has significant potential for future expansion. The industry was valued at $50.5 billion in 2019 and is anticipated to reach $204.81 billion by 2025, registering a CAGR of 26.7% from 2020 to 2025”

Recent Trends and Developments

• In January 2022, ExxonMobil and SABIC jointly started operating world-scale manufacturing facility in San Patricio County, Texas. The new manufacturing facility will be producing packaging, agricultural films, and construction materials by incorporating 1.8 million metric ton per year ethane steam cracker, two polyethylene units with production capacity of 1.3 million tons per year and a Monoethylene glycol unit with an installed capacity of 1.1 million metric tons annually.
• To meet growing requirement for Polyester fiber and Polyethylene Terephthalate (PET) used across various end-user industries like Textile and Packaging Industry, SABIC has funded for newly start-up activities to reach a production capacity of 700,000 metric tons of Monoethylene Glycol at its manufacturing affiliate, Jubail United Petrochemical Company.
  
  

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Market Segmentation

Global Monoethylene Glycol Market is segmented based on Grade, Production Process, End-User Industry and Regional distribution. Based on Grade, the market is further segmented into High Purity Monoethylene Glycol (MEG), Anti – Freeze Monoethylene Glycol (MEG). Based on Production Process, the market is divided into Bio-Based MEG, Gas-Based MEG, Naphtha-Based MEG, Coal-Based MEG, and Others. Based on the End-User Industry, the market is segmented into Textile & Leather, Packaging, Adhesives & Sealants, Paints & Coatings, and Others.

Market Players

Saudi Basic Industries Corporation, BASF SE, Reliance Industries Limited, The Dow Chemicals Company, Shell plc, Akzo Nobel N.V., Oriental Union Chemical Corporation, Nan Ya Plastics Corporation, MEGlobal International FZE, and EQUATE Petrochemical Company are some of the major market players in Global Monoethylene Glycol Market