Mono Ethylene Glycol Market Scope
Monoethylene glycol (MEG) is defined as the organic compound which is syrupy liquid, colorless, odorless, with a sweet taste. It is produced from ethylene via ethylene oxide that is hydrated through the thermal or else catalytic process. It is used as antifreeze for different uses such as preserving biological tissues & organs or as de-icing fluids. It is a significant raw material for the number of industrial applications including manufacturing namely polyethylene terephthalate, manufacturing of polyester fiber, fabrics, among others. The growing use of monoethylene glycol in polyester fiber and polyethylene terephthalate industries are some of the major drivers which are propelling the growth of the market.
According to AMA, the Global Mono Ethylene Glycol market is expected to see growth rate of 5.2%
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global mono-ethylene glycol market can witness an upsurge in the forecast period. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Mono Ethylene Glycol market throughout the predicted period.
SABIC (Saudi Arabia), Formosa (Taiwan), Dow Chemical International Private Limited (United States), BASF (Germany), MEGlobal (United Arab Emirates), Sinopec (China), Shell (Netherlands), Reliance (India), SIBUR (Russia) and Lotte Chemical (South Korea) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Eastman Chemical Company (United States), Exxon Mobil Corporation (United States), Huntsman Corporation (United States) and Ineos Oxide (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Mono Ethylene Glycol market by Type (Fiber Grade MEG, Industrial Grade MEG and Antifreeze Grade MEG), by Application (Polyester Resins, Antifreeze and Coolants, Chemical Intermediates, Heat Transfer Fluids and Others) and Region with country level break-up.
On the basis of geography, the market of Mono Ethylene Glycol has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
According to Federal Register (United States), “regulation establishes an exemption from the requirement of a tolerance for residues of diethylene glycol mono butyl ether (CAS Reg. No. 112-34-5) when used as a pesticide inert ingredient as a solvent, stabilizer and/or antifreeze within pesticide formulations/products without limitation under 40 CFR 180.920H”. Hence, it may acts as hamper for market growth.
Market Trend
- Technology Advancement in Monoethylene Glycol
Market Drivers
- Rising Demand for MEG in Antifreeze and Coolant Application
- Increasing Demand for Polyester Fiber and PET
Opportunities
- High Potential for the Development of Bio-Based MEG
- Increasing Coal Plants in China
- Rising Demand from Emerging Economics such as China and India
Restraints
- Issue related to Toxicity of MEG
Challenges
- Fluctuating Raw Material Prices and High Costs Associated With the Refining of MEG
Key Target Audience
Manufacturers of Mono-Ethylene Glycol, Chemical Suppliers, Traders, Distributors, and Suppliers of Mono-Ethylene Glycol, Raw Material Suppliers, Government and Research Organizations and Industry Associations