Skip to main content

Global Monoethylene Glycol (MEG) Market for Polyethylene Terephthalate (PET), Polyester Fiber, Coolant & Antifreeze and Other Applications- Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2021: Credence Research

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.
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.
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
About Us:
Credence Research is a worldwide market 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.
Contact:
Name: Chris Smith
Designation: Global Sales Manager
Ph: 1–800–361–8290

Comments

Popular posts from this blog

Algae Products Market Key Growth Factors and Industry Analysis 2023: Credence Research

According to a new market report published by Credence Research “ Algae Products Market  - Growth, Future Prospects, Competitive Analysis, and Forecast 2016 - 2023,” the algae products market is expected to reach US$ 44.7 Bn by 2023, expanding at a CAGR of more than 5.0% from 2016 to 2023. Browse the full report at  http://www.credenceresearch.com/report/algae-products-market Market Insights: Algae are a diverse group of photosynthetic organisms which are not closely related and hence are known to be polyphyletic. They are plats which range from microalgae to macro algae. Algae are grown using water resources such as sea and waste water which are not suitable for growing agricultural crops. Microalgae grow using sunlight i.e. photosynthesis, by converting sunlight, CO2 and nutrients such as phosphorus and nitrogen into biomass. This growth is also known as autotrophic growth. Some algae can grow in the dark using sugar starch or by combining both the growth modes. Based on applica

Articulated Arm Machine Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023

According to a new market report published by Credence Research, Inc., “ Articulated Arm Machine Market  (By End-use Application (Industrial Manufacturing, Automotive, Electronics and Electrical, Aerospace, Energy and Power, and Other End-use Applications), By Price (Low-end Articulated Arms, Mid-range Articulated Arms, and High-end Articulated Arms)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 - 2023”, the global articulated arm machine market is expected to witness steady growth in demand, expanding at a CAGR of 8.2% during the forecast period 2016 to 2023. Browse the full Articulated Arm Machine (By End-use Application (Industrial Manufacturing, Automotive, Electronics and Electrical, Aerospace, Energy and Power, and Other End-use Applications), By Price (Low-end Articulated Arms, Mid-range Articulated Arms, and High-end Articulated Arms)) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023 report at  http://www.crede

Artificial Intelligence Market: Industry Analysis Size, Share, Growth, Trends, Opportunities and Forecast 2016 To 2025 – Credence Research

According to a new market research report published by Credence Research “ Artificial Intelligence Market  (By Technology: Deep Learning, Robotics, Digital Personal Assistant, Querying Method, Neuro-Linguistic Programming and Context-Aware Processing; By End-use Industry: Manufacturing and Processing, BFSI, Oil and Gas, Healthcare, Agriculture, Automotive and Transportation, Retail and Others) - Growth, Future Prospects, and Competitive Landscape, 2017-2025”, artificial intelligence market was valued at US$ 1.36 Bn in 2016 and is expected to grow at a CAGR of 52% during the forecast period from 2017 to 2025. The complete report is available at  http://www.credenceresearch.com/report/artificial-intelligence-market Market Insights Artificial intelligence can be defined as the technology used to create intelligent computing system. The systems equipped with artificial intelligence do not require constant human intervention or supervision to carry out the designated process. A syst