Global Mono Ethylene Glycol (MEG) Market 2017-2021

Overview of the global mono ethylene glycol (MEG) market

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.

Competitive landscape and key vendors

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 -

• Akzo Nobel
• BASF
• Huntsman International
• LyondellBasell Industries Holdings
• Royal Dutch Shell

The other prominent vendors in the market are Chemtex Speciality, India Glycols, LOTTE CHEMICAL, MEGlobal, NAN YA PLASTICS, Reliance Industries, and SABIC.

Segmentation by application and analysis of the MEG market

• Polyster fibers
• PET
• Antifreeze and coolants

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.

Geographical segmentation and analysis of the MEG market

• APAC
• Europe
• North America
• ROW

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.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global mono ethylene glycol (MEG) market?
• What are the key market trends impacting the growth of the global mono ethylene glycol (MEG) market?
• What are the challenges to market growth?
• Who are the key vendors in the global mono ethylene glycol (MEG) market?
• What are the market opportunities and threats faced by the vendors in the global mono ethylene glycol (MEG) market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global mono ethylene glycol (MEG) market?

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