Market Size of Mono-ethylene Glycol Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Monoethylene Glycol Market Analysis
The mono-ethylene glycol market is projected to register a CAGR of over 5.5% during the forecast period.
Due to the COVID-19 spread, major economies imposed lockdowns globally, which impacted most industries, and refineries went non-operational following regulations and rules. There was a decline in the demand for mono ethylene glycol (MEG) due to the dip in the production and various derivatives and end product demand. However, the market is growing steadily, owing to increased automotive, textile, and other activities in 2021.
- Over the short term, the growing demand for PET in the packaging sector is a significant factor driving the growth of the mono-ethylene glycol market.
- On the flip side, the fluctuation in raw material prices due to volatility in crude oil prices can restrict market growth.
- Nevertheless, the increased popularity of bio-based MEG materials will likely create lucrative growth opportunities for the global market soon.
- Asia-Pacific is estimated to witness healthy growth in the momo-ethylene glycol market over the assessment period.
