The global monoethylene glycol market size was worth around USD 25.91 billion in 2023 and is predicted to grow to around USD 41.95 billion by 2032 with a compound annual growth rate (CAGR) of roughly 5.50% between 2024 and 2032.
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Monoethylene glycol is a chemical molecule formed by the transitional oxidation process of the ethylene component. The chemical is odorless and colorless and has numerous industrial applications. Monoethylene glycol is one of the most important commercially available glycols. The manufacture of monoethylene glycol yields byproducts such as tri-ethylene and di-ethylene glycol. Monoethylene glycol is an important component used in the manufacture of fibers, polyester clothing, textiles, and resins. Monoethylene glycol is used in a variety of end-user sectors, including airplanes, chemicals, textiles, food and beverages.
The rising demand for polyester fabrics in the textile industry is expected to propel the monoethylene glycol market in the coming years. Furthermore, the demand for polyester clothes is always increasing as the urban population’s lifestyle changes. Furthermore, monoethylene glycol is widely utilized to manufacture PET bottles in the food and beverage industry, which is expected to boost the monoethylene glycol market globally in the future years. Monoethylene glycol’s advantageous properties, such as toughness and durability, make it an important raw material for a wide range of industrial applications. It is widely used in the production of textiles, polyester resins, and films. These factors are expected to help drive global market expansion in the future. However, chemical toxicity may impede the worldwide monoethylene glycol market.
The analysis highlights drivers and restraints for the monoethylene glycol market, as well as their impact on demand during the forecast period. The report also offers an analysis of worldwide opportunities in the monoethylene glycol industry.
In order to provide consumers with a comprehensive insight of the monoethylene glycol market, we have included a competitive landscape as well as an analysis of Porter’s Five Forces model. The study includes a market attractiveness analysis, which compares all segments based on market size, growth rate, and overall attractiveness.
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The Global Monoethylene Glycol Market is segmented based on product, application and region
Global Monoethylene Glycol Market: Product Segment Analysis
● Fiber
● Industrial
● Antifreeze
Global Monoethylene Glycol Market: Application Segment Analysis
● Fiber
● PET
● Film
● Antifreeze & Coolant
● Others
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The global Monoethylene Glycol market profiles key players such as:
● SABIC
● Formosa
● Dow DuPont
● BASF SE
● MEGlobal
● Sinopec
● Shell
● Reliance
● SIBUR
● PTTGC
Monoethylene Glycol Market: Regional Analysis
The geographic segmentation includes historical and projected demand for North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
By region, Asia Pacific had the greatest revenue share of the worldwide monoethylene glycol market in 2018 and is likely to dominate the market in the years ahead. This geographical expansion can be linked to the textile industry’s increasing demand for polyester textiles and apparels as the urban population’s lifestyle changes. Monoethylene glycol is primarily utilized in the manufacturing of polyester materials. The European area is likely to give considerable growth potential in the worldwide monoethylene glycol market in the future, owing to higher prescription medicine sales as SUV production increases. Monoethylene glycol is mostly used to make antifreeze coolants, which are necessary for the proper operation of cars.
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