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Research analysis on the global mono ethylene glycol (MEG) market identifies the growth of the automotive industry to be one of the major factors that will have a positive impact on this market’s growth. There is an increase in the usage of MEF antifreeze and coolants in the automotive industry. This will consequently demand the need for MEG. In adddition to the growing investments and technological advancements, the automotive industry is also witnessing a rising demand for commercial vehicles and lightweight and fuel-efficient vehicles. This will subsequently drive the need for antifreeze and coolants, which will in turn, increase the demand for MEG. According to Technavio’s market research analysts, this market will grow at a CAGR of more than 6% by 2021.
With the increase in focus on sustainability and the availability of favorable government regulations for green procurement policies, the coming years will witness the demand for bio-based MEG, especially from the textile industries. Additionally, the demand from the packaging industry for biodegradable films will also lead to the need for bio-based MEG. Our research analysis predicts that this rising preference for bio-based MEG will be one of the latest trends that will gain traction in the MEG market during the next four years.
The market has the presence of a considerable number of vendors and appears to be highly competitive. The MEG market is competitive and the vendors mainly compete based on factors such as operational costs, innovation, price, and product quality. To offer better products to the end users, the players in this marketpace are focusing on developing advanced technologies.
The leading vendors in the market are -
The other prominent vendors in the market are Chemtex Speciality, India Glycols, LOTTE CHEMICAL, MEGlobal, NAN YA PLASTICS, Reliance Industries, and SABIC.
During 2016, the polyster fibers segment accounted for the major shares of this market. The wide usage of polyster fibers in automobiles and aircraft bodies, textile, packaging, luggage, furnishing, and appliances is a major factor driving the growth prospects of theMEG market in this segment.
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the MEG market by 2021. The region has the presence of a large number of textiles and fiber manufacturers who manufacture sportswear, casual wear, and various other apparel. This will be a major factor fueling the growth prospects of the market in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
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