Mono ethylene Glycol Market Growth Analysis With Investment Opportunities For 2024-2033

Mono ethylene Glycol Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, September 12, 2024 /EINPresswire.com/ -- The monoethylene glycol market has experienced robust growth in recent years, expanding from $33.11 billion in 2023 to $35.78 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to polyester production, antifreeze and coolants, fiber production, industrial solvents, glycol ethers.

Strong Future Growth Anticipated
The monoethylene glycol market is projected to continue its strong growth, reaching $49.05 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to automotive electrification, renewable chemicals, textile recycling, medical and pharmaceutical, cosmetic and personal care.

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Growth Driver Of The Monoethylene Glycol Market
The rise in the packaging industry is significantly contributing to the growth of the mono ethylene glycol market going forward. Packaging refers to enclosing or protecting products for distribution, storage, sale, and use. As a result, increasing demand in the packaging industry increases the demand for mono ethylene glycol.

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Major Players And Market Trends
Key players in the monoethylene glycol market include BASF SE, Dow Inc., LyondellBasell Industries Holdings B.V., Royal Dutch Shell PLC, MEGlobal B.V., Reliance Industries Limited.
Major companies operating in the monoethylene glycol market are expanding their footprints by launching new service providers such as Sustainea, which will produce and market bioMEG (monoethylene glycol) and bioMPG (monopropylene glycol). Sustainea will combine Braskem’s expertise in the industrial production and sale of chemicals and plastics made from renewable sources.

Segments:
1) By Production Process: Gas-Based, Naphtha-Based, Coal-Based, Methane-to-Olefins (MTO), Bio-Based
2) By Application: Polyester Fiber, Polyethylene Terephthalate (PET) Resins, Polyethylene Terephthalate (PET) Film, Antifreeze, Other Applications
3) By End Users: Textiles and Leather, Packaging, Adhesives and Sealants, Paints and Coatings, Chemical, Other End Users

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the mono ethylene glycol market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the monoethylene glycol market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Monoethylene Glycol Market Definition
The mono ethylene glycol is used in the manufacturing of polyester and as a corrosion inhibitor in antifreeze and coolants. Monoethylene glycol is an odorless and colorless chemical substance that is produced from ethylene in the process of manufacturing ethylene oxide.

Monoethylene Glycol Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Monoethylene Glycol Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on monoethylene glycol market size, monoethylene glycol market driversand trends, monoethylene glycol market major players, monoethylene glycol competitors' revenues, monoethylene glycol market positioning, and monoethylene glycol market growth across geographies. The monoethylene glycol market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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