MEG Glycol is used for applications that need chemical intermediates for resins, freezing point depression, chemical intermediates, etc. The applications are important for manufacturing many products like resins, heat transfer fluids, automotive antifreeze and coolants, latex paints, leather. Polyester can remain intact under diverse conditions. This is a plus point for the Monoethylene Glycol Market. Polyethylene Terephthalate uses Monoethylene Glycol as a raw material. The increasing demand for the PET containers will spur the growth of Mono Glycol. PET is used in consumer goods like food containers and bottles. PET containers have a great strength, and this factor propels the demand for Monoethylene.
Scope & Regional Forecast of the Monoethylene Glycol Market
The demand for the Monoethylene Glycol Market will be high during the forecast period due to its applications in end user industries like construction, automotive, consumer goods, and pharmaceutical textiles. Demand for the polyester fiber from the textile industry has triggered the production of MEG fluid. Urbanization and changing lifestyle of people will influence the growth of Ethylene Glycol in countries like China, Brazil, India, and Mexico.
The automotive sector and aircraft manufacturing units will witness increasing usage of Mono Glycol in economies of Asia Pacific and Latin America. But substittues like DEG and TEG coupled with the high costs in the refinement of Ethylene Glycol may restrict the growth of the market.
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North America and Europe display a moderate growth of MEG antifreeze during the forecast period. Growing demand for non ionic surfactant and textile& fiber industries bolster the need for Ethylene Glycol Mass. Bio based Monoethylene Glycol creates numerous opportunities for the market.
Monethylene Glycol can be used as a coolant material, anti corrosion agent, antifreeze, and chemical intermediate. Major companies like Reliance Industries and Royal Dutch Shell PLC produce raw materials and Monoethylene Glycol.
Segmentations & Key Players Involved in the Monoethylene Glycol Market
- Region- North America, Europe, and Asia.
Some of the key players involved in the Monoethylene Glycol Market are as follows:
- The Dow Chemical Company
- Royal Dutch Shell Plc
- Reliance Industries Limited
- Nan Ya Plastics (Huizhou)
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