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Global Monoethylene Glycol (MEG) Market Size, Share, Growth, Outlook, Analysis and Forecast to 2022: Credence Research

Tuesday, March 14, 2017 2:57
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(Before It's News)

According to a new market report published by Credence Research “Monoethylene Glycol (MEG) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2021,” the monoethylene glycol (MEG) market is expected to reach over US$ 37.5 Bn by 2022, expanding at a CAGR of 6.0% from 2016 to 2022.

Browse the full Monoethylene Glycol (MEG) Market for Polyethylene Terephthalate (PET), Polyester Fiber, Coolant & Antifreeze and Other Applications- Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2021 report at http://www.credenceresearch.com/report/monoethylene-glycol-meg-market

Market Insights

Monoethylene glycol is an odorless, colorless and barely viscous liquid which is miscible in alcohols, water, aldehydes and many other organic compounds. Monoethylene glycol is one of the key commercially available glycols. The coproducts such as diethylene glycol and triethylene glycol are obtained in the manufacturing process of MEG from ethylene oxide. End-user industries such as textile and packaging among others are the major consumers of monoethylene glycol in the market. Monoethylene glycol is primarily used as raw material in production of polyethylene terephthalate (PET), polyester resins and coolants & antifreeze among others. These products are used on a large scale in end-user industries for manufacturing various packaging products such as bottles and for manufacturing fabrics in the textile industry. Growing demand for monoethylene glycol from various end-user industries is one among the major driving factors of global monoethylene glycol market.

Polyethylene terephthalate (PET) is the fastest growing segment of global monoethylene glycol market. PET is used on a large scale in the packaging industry. Therefore, growing packaging industry is the key factor driving the growth of global monoethylene glycol market. Polyester fiber is another product manufactured using monoethylene glycol as a raw material. Polyester fiber is known to be a substitute in meeting the growing demand of fibers. High demand from the textile industry is anticipated to fuel demand for monoethylene glycol in Asia Pacific, especially China and India. Monoethylene glycol is used as coolant & antifreeze. It is used as a deicing agent in developed regions in the aircraft industry. It is also used as an automotive coolant and antifreeze. These factors have led to booming growth of global monoethylene glycol market and are projected to retain its position in the market in the near future.

Competitive Insights

Asia Pacific dominated the global monoethylene market in terms of demand and revenue in 2016. Growing demand for monoethylene glycol from the textile industry is the major factor boosting growth of monoethylene glycol in the region. Developed regions such as North America and Europe are expected to experience steady demand during the forecast period as MEG production has shifted to emerging economies such as Asia Pacific and Middle East & Africa respectively. China is known to be the global textile manufacturer. Hence, increase in production facility of MEG in the region and high demand for polyester fiber from the textile industry has fueled market growth of monoethylene glycol during the forecast period 2016 to 2022.

Request Free Sample : http://www.credenceresearch.com/sample-request/57859

Key Trends

  • Raw material for manufacturing PET, Polyester Resins, etc.
  • High demand from various end-user industries, especially textile and packaging industry
  • Used as deicing agent
  • Opportunities from increasing applications of monoethylene glycol for untapped markets

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About Us:

Credence Research is a worldwide industry research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.

Who we are

Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.

Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.

Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.

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CA 95103, United States

Ph: 1-800-361-8290

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Website: http://www.credenceresearch.com

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