Mono Ethylene Glycol (MEG) Market Analysis: Plant Capacity, Production, Operating Efficiency, Technology, Demand & Supply, Application, Distribution Channel, Regional Demand, 2015-2030

Format: Online | Last Updated: Sep 2021

[Online Quarterly Update]The Mono Ethylene Glycol market witnessed a demand of 27.64 million tons in 2020 and is anticipated to grow at a healthy CAGR of 4.60% through the forecast period, 2030. MEG is a slightly viscous, colorless, odorless organic compound with a sweet taste. It is also known as 1,2-ethanediol and is soluble with most of the organic compounds, alcohols and water.  It is mainly produced by Ethylene via Ethylene Oxide hydrolysis along with the release of two co-products, Diethylene Glycol (DEG) and Triethylene Glycol (TEG). The feedstocks used for the production of MEG are natural gas, coal, naphtha and bioethanol; hence its market is segmented into 4 types on the basis of the aforementioned sources from which it is derived. Among these, natural gas holds the major share for MEG production followed by Naphtha and Coal. Though due to rising environmental concerns to reduce the carbon footprint, the majority of the manufacturers are now focusing to shift toward the production of biobased Mono Ethylene Glycol instead of petrochemical-based MEG. 
 
Mono Ethylene Glycol (MEG) is a versatile industrial chemical with high demand owing to its properties such as high durability, hydrophobic nature, and extreme tenacity. It is keenly used as a key ingredient or as a feedstock for manufacturing a variety of products such as Polyester Fibres, Polyester Films, Polyethylene Terephthalate (PET), antifreeze products, Coolants, solvents, etc. Additionally, it is employed in paper, printing inks, leather, fibres treatment and cellophane industries due to its humectant nature. Based on its applications, MEG market is segmented into two grades i.e. Polyester and Non-Polyester Grades. Owing to all these applications, the major end use industries of MEG are Textile, Packaging, Cosmetics, Pharmaceuticals, Food and Beverage, Automobile, Chemicals, Adhesives & Sealants, and Others. Most of the MEG produced globally is utilized in the production of Polyester Fibers followed by Polyethylene Terephthalate (PET) and Polyester films. The major restraint in the market for Mono Ethylene Glycol is the fluctuation in the prices of Petrochemicals as majority of the MEG is produced by Petrochemicals as its feedstock. 
 
In the first half of 2020, due to the spread of COVID-19 across the globe, major economies had imposed nationwide lockdowns, which impacted most of the industries as industries and refineries went non-operational following government’s regulations. There was a decline in the demand of Mono Ethylene Glycol (MEG) due to the dip in the production and demand of various derivatives and end products. There was a slump in sectors such as Textile, Food and Beverages, Chemicals, Automobile which consequently hit the market for MEG amid COVID-19 crisis.However, an improvement is witnessed by the end of 2020 as industries start operating their manufacturing units at maximum efficiencies and establishing new units following increasing demand for MEG, globally.
 
Region wise, Asia Pacific accounted for the major share of the Mono Ethylene Glycol market, globally.  Rapid industrialization, growing population as well as China being the leading manufacturer of various derivatives of MEG are the key factors that are going to fuel the growth of Mono Ethylene Glycol Market in the forecast period. Additionally, flourishing industries like Packaging, Pharmaceuticals and Food and Beverage in the region are also positively influencing the growth of the Mono Ethylene Glycol market. Moreover, countries like China and India are the leading textile manufacturer, globally. Therefore, application of MEG in fiber is also likely to boost its demand in Asia Pacific over the forecast period. In terms of regional analysis, North America is anticipated to grow at a promising rate in the forecast period due to the presence of petrochemicals (raw material) in abundance such as natural gas. 
 
Key players operating in the Mono Ethylene Glycol market are SABIC, ExxonMobil Corporation, Mitsubishi Chemical, Formosa, Chemtex Speciality Limited, The Dow Chemicals, LyondellBasell Industries, Royal Dutch Shell, AkzoNobel, MEGlobal, Reliance Industries, Lotte Chemical Corporation, Nan Ya Plastics Corporation, China Petroleum and Chemical Corporation, India Glycols and Sinopec Zhenhai Refining & Chemical Co.
 
Years Considered for this Report:
 
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
 
This report will be delivered on an online digital platform with one-year subscription and quarterly update.
 
Objective of the Study: 
 
• The primary objective of the study was to evaluate and forecast the Mono Ethylene Glycol capacity, production, demand, inventory, and demand–supply gap globally. 
• To categorize Mono Ethylene Glycol demand based on Application, Type, region, and distribution channel
• To identify major customers of Mono Ethylene Glycol globally.
• To evaluate and forecast Mono Ethylene Glycol pricing globally.
• To identify and profile major companies operating globally Mono Ethylene Glycol market.
• To identify major news, deals and expansion plans globally Mono Ethylene Glycol market.
 
To extract data for Global Mono Ethylene Glycol market, primary research surveys were conducted with Mono Ethylene Glycol manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, Chemanol’s was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, chemicals analyzed various end user segments and projected a positive outlook for Global Mono Ethylene Glycol market over the coming years. 
 
ChemAnalyst calculated Mono Ethylene Glycol demand globally by analyzing the historical data and demand forecast which was carried out considering the Application industries growth. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 
 
Key Target Audience
 
• Mono Ethylene Glycol manufacturers and other stakeholders
• Organizations, forums and alliances related to Mono Ethylene Glycol distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
 
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Mono Ethylene Glycol manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
 
Report Scope: 
 
In this report, the Global Mono Ethylene Glycol market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
 
Attribute
Details
Market size Volume in 2020
27.64 million Tons
Growth Rate
CAGR of 4.60% from 2021 to 2030
Base year for estimation
2020
Historic Data
2015 – 2019
Forecast period
2021 – 2030
Quantitative units
Revenue in USD million/billion and CAGR from 2021 to 2030
Report coverage
Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
Segments covered
1. Type (Natural Gas, Coal, Naphtha & Bioethanol)
2. Application (Polyester Fiber, PET, Polyester Film, Antifreeze agent or Deicer, Coolants and Others)
3. Distribution Channel (Direct/Institutional Sales, Other Channel Sales)
4. Region
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & Africa
Country scope
United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
Key companies profiled
SABIC, ExxonMobil Corporation, Mitsubishi Chemical, Formosa, Chemtex Speciality Limited, The Dow Chemicals, LyondellBasell Industries, Royal Dutch Shell, AkzoNobel, MEGlobal, Reliance Industries, Lotte Chemical Corporation, Nan Ya Plastics Corporation, China Petroleum and Chemical Corporation, India Glycols and Sinopec Zhenhai Refining & Chemical Co.
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
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Frequently Asked Questions (FAQ):

Which are the major applications of Mono Ethylene Glycols?

The major applications of MEG include Polyester Fiber, Polyethylene Terephthalate (PET), Polyester Films, Antifreeze agent and Deicer, Coolants and Others. Among all Polyester fibers holds the major share of demand for MEG globally.

Which region holds the maximum demand share of the global market?

 

Asia Pacific region holds the maximum demand share of the global market because of the presence of manufacturing hub of MEG derivatives and end products in China and India along with the huge consumer base in the region.

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