Mono-ethylene Glycol Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Mono-ethylene Glycol Market is segmented by Production Process (Gas-based, Naphtha-based, Coal-based, Methane-to-Olefins, and Bio-based), Application (Polyester Fiber, PET Bottle, PET Film, Antifreeze, and Industrial), End-user Industry (Textile, Packaging, Plastic, Automotive, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa)

Mono-ethylene Glycol Market Snapshot

Mono-ethylene Glycol Market
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: <5 %

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Market Overview

The market for mono-ethylene glycol is expected to register a CAGR of less than 5% during the forecast period. Major factors driving the market studied are the growing demand for PET in the packaging industry, and increased demand for MEG from the textile industry.

  • The Increased popularity of bio-based MEG materials is likely to act as an opportunity for the market studied.
  • Asia-Pacific dominated the market across the world.

Scope of the Report

The mono-ethylene glycol market report includes:

Production Process
Gas-based
Naphtha-based
Coal-based
Methane-to-Olefins (MTO)
Bio-based
Application
Polyester Fiber
PET Bottle
PET Film
Antifreeze
Industrial
End-user Industry
Textile
Packaging
Plastic
Automotive
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Russia
NORDIC Countries
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

PET Film to Dominate the Market

  • Mono-ethylene glycol is used in the production of PET films. PET is a high-performance, crystal clear thermoplastic. As compared to other common plastic films, PET film has excellent dimensional stability, higher tensile strength, low moisture absorption, and good retention of physical properties over a wide range of temperatures.
  • PET also has excellent electrical properties, superior UV resistance, high gloss, good optical clarity, and good gas barrier, but only moderate moisture barrier properties. This makes PET an ideal film for quality printing and lamination.
  • It is also used as high-performance plastic films and sheets, as it has a relatively high melting point, which makes it suitable for applications that require sterilization at high temperatures.
  • Moreover, PET can be metalized, which offers improved gas barrier properties for demanding applications, as it helps in providing long product shelf life. PET film is, thus, well-suited for a broad range of industrial, electronic, and automotive applications.
  • Therefore, the demand for the market studied for PET films application is expected to grow in coming years, which in turn is expected to boost the demand for MEG.
Mono-ethylene Glycol Market Trends

Asia-Pacific to Dominate the Market

  • The Asia-Pacific region dominated the global market share. In Asia-Pacific, China is the largest economy in terms of GDP.
  • China has the largest population in the world, with a high availability of skilled labor. The industrial goods markets in the neighboring countries are at an advantage, due to China's geographic location. China also provides easy access to other countries of the world, making it a major access point for manufacturers and suppliers. This has made China the largest manufacturing country in the world.
  • China is the largest producer and consumer of mono-ethylene glycol in the region. In China, the consumption of PET fibers has increased drastically in the recent past, due to the growing population and increasing urbanization, resulting in the robust demand from the textile industry.
  • China is one of the largest global consumers of polyethylene terephthalate (PET). The abundant availability of raw materials and the low cost of production have been supporting the production growth of the engineering plastics, such as PET in the country for the past few years. The consumption of PET has increased drastically in the recent past due to the growing population, increasing urbanization, and substitution of many metals in various industries, such as automotive, consumer appliances, etc.
  • The country is further expected to accelerate the publication of a plan for the Neighborhood Electric Vehicle (NEV) industry development from 2021 to 2035, in order to guide future development. PET is an important material that goes into external and internal body parts. High demand for cars due to consumers’ rising purchasing power is likely to drive the demand for PET from this segment.
  • Thus, the aforementioned factors are expected to boost the demand for mono-ethylene glycol through the forecast period in China.
Mono-ethylene Glycol Market Regional Trends

Competitive Landscape

The mono-ethylene glycol market is Partially fragmented in nature. Major Other players include Nouryon, BASF SE, Dow, LyondellBasell Industries Holdings B.V.,  and Royal Dutch Shell PLC among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand for PET in the Packaging Industry

      2. 4.1.2 Increased Demand of MEG from the Textile Industry

    2. 4.2 Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Trade Analysis

    6. 4.6 Price Trends

    7. 4.7 Technological Snapshot

    8. 4.8 Regulatory Policy Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Production Process

      1. 5.1.1 Gas-based

      2. 5.1.2 Naphtha-based

      3. 5.1.3 Coal-based

      4. 5.1.4 Methane-to-Olefins (MTO)

      5. 5.1.5 Bio-based

    2. 5.2 Application

      1. 5.2.1 Polyester Fiber

      2. 5.2.2 PET Bottle

      3. 5.2.3 PET Film

      4. 5.2.4 Antifreeze

      5. 5.2.5 Industrial

    3. 5.3 End-user Industry

      1. 5.3.1 Textile

      2. 5.3.2 Packaging

      3. 5.3.3 Plastic

      4. 5.3.4 Automotive

      5. 5.3.5 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Spain

        6. 5.4.3.6 Russia

        7. 5.4.3.7 NORDIC Countries

        8. 5.4.3.8 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Nouryon

      2. 6.4.2 BASF SE

      3. 6.4.3 Dow

      4. 6.4.4 LACC

      5. 6.4.5 LyondellBasell Industries Holdings BV

      6. 6.4.6 Mitsubishi Chemical Corporation

      7. 6.4.7 Nan Ya Plastics Corporation

      8. 6.4.8 Reliance Industries Limited

      9. 6.4.9 Royal Dutch Shell PLC

      10. 6.4.10 SABIC

      11. 6.4.11 Solventis

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increased Popularity of Bio-based MEG Materials

**Subject to Availability

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Frequently Asked Questions

The Mono-ethylene Glycol Market market is studied from 2016 - 2026.

The Mono-ethylene Glycol Market is growing at a CAGR of <5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Nouryon, BASF SE, Dow, LyondellBasell Industries Holdings B.V., Royal Dutch Shell PLC are the major companies operating in Mono-ethylene Glycol Market.

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