Monoethylene Glycol Market: Future Demand, Market Analysis & Outlook to 2017 – 2024

Volatility in feedstock material prices will be the key restraining factor for the Monoethylene Glycol Market growth over the forecast period. The product is manufactured from ethylene, a derivative of crude oil and fluctuation in oil prices directly impacts on the raw material prices. Price fluctuation results in unpredictable supply, which hinders manufacturing processes, thus creating a major setback for the monoethylene glycol market.

Expansion in various industrial sectors such as textile, automotive, paints & coatings, packaging and others owing to the economic growth and upsurge in spending power, will boost the monoethylene glycol market demand by 2024. Increasing demand for plastic packaging from pharmaceutical, cosmetics, food & beverage and other industries is the key driving factors for monoethylene glycol market growth. This is due to its extensive usage of the product in the manufacturing of PET and polyester resins. Increasing demand for polyester fiber, especially in Asia Pacific, is fueling the monoethylene glycol market demand, owing to its extraordinary chemical and mechanical properties.

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In terms of revenue, antifreeze & coolants segment will cross USD 3 billion in 2024. Positive response from automotive industry will drive the segment growth as the product is used as major component to manufacture the IC engine coolants and will boost the industry size. Monoethylene glycol is mainly used as a raw material for antifreeze & coolants formulations which will enhance the product demand in the forecast timespan.

Browse key industry insights spread across 260 pages with 418 market data tables & 27 figures & charts from the report, "Monoethylene Glycol Market Size By Grade (Polyester, Industrial, Antifreeze, Low Conductivity), By Application (Polyester Fiber, PET, Antifreeze & Coolants, Chemical Intermediates), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:https://www.gminsights.com/toc/detail/monoethylene-glycol-meg-market

On the basis of geography, Asia Pacific, led by China and India, is likely to hold a significant share in the global monoethylene glycol market in past years and is likely to expand it by 2024 at the fastest rate. Europe and North America will have a collective market size of over USD 10 billion by 2024 accounting for around a quarter of the overall monoethylene market.

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The prominent manufacturers in the monoethylene glycol market which include AkzoNobel, Reliance, SABIC, Dow Chemicals, MEGlobal, Sinopec, LyondellBasell Industries, Royal Dutch and Mitsubishi, which hold over half of the overall market share. SABIC has a significant integration throughout the product value chain as it manufacturers the raw materials required for the monoethylene glycol production.

Related Report:

• Polyester Fiber Market Size By Grade (PET, PCDT), By Product (Solid, Hollow), By Application (Carpets & Rugs, Non-Woven Fabrics, Fiberfill, Apparels, Home Textiles), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

https://www.gminsights.com/industry-analysis/polyester-fiber-market

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