New Research Report Explores the Worldwide Mono Ethylene Glycol Market- Industry Forecast to 2022

Pune, India, 2017-Jun-29 — /EPR Network/ — The global mono ethylene glycol market has been segmented into application and end use industries. On the basis of application, the market has been divided into fiber, polyethylene terephthalate (pet), film, anti-freeze, and other industrial application. Among these applications, polyethylene terephthalate (PET) have cover the largest market followed by fiber, anti-freeze, and others industrial applications. The other extensive use of mono ethylene glycol as an antifreeze is based on its ability to lower the freezing point when it mixed with water. Additionally, it can also be used as a coolant material in engines, dewatering agent, anti-corrosion agent, anti-ice and deicers, and other chemical intermediate such as in the manufacture of 1,4-dioxane, manufacture of some vaccines and and also in some inks and dyes.

The rapid growth of the PET market due to packaging industry has boost a high demand in mono ethylene glycol consumption. The large share of mono ethylene glycol is used to produce polyethylene terephthalate has increase rapidly from the past years, now it covers more than 50% of the consumption of mono ethylene glycol. Although market is still expected to grow in the forecast period. Consumption of mono ethylene glycol has grown at a rate of approx. 7% per year on average.

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Geographically, Asia-Pacific is estimated to be the largest market in terms of value and volume. The dominance of China in APAC as well as global market is fueling the global demand. Other regions such as North America, Europe and Middle East have potential competitors with each other. Primarily because of packaging industries, and applications such as anti-freeze and deicing through APAC region to Europe and North America.

The Global mono ethylene glycol is expected to witness a significant growth of USD ~37.4 million by 2022 with CAGR of ~6% between 2016 and 2022

Mono ethylene glycol is a colorless, odorless liquid with a syrup-like solidity with linear formula HOCH2CH2OH. Mono ethylene glycol is processed from ethylene with the help of ethylene oxide, which in turn is hydrated by applying either a thermal or catalytic production process.

Mono ethylene glycol is nowadays known as significant raw material for numerous industrial applications such as fiber, polyethylene terephthalate (PET), film, anti-freeze, and other. Furthermore, MEG is required in the various end use industry such as textile industry, plastic industry, packaging industry, and other. As a result the dominant end-use segment of mono ethylene glycol is the production of polyester (PET) resins due to packaging and bottles, films and fibers. Another important MEG. Furthermore, mono ethylene glycol based Antifreeze is toxic to animals, large number of animals have died after consuming the liquid which is used in engines coolants, because of property of mono ethylene glycol that antifreeze contains which is extremely poisonous to both people and animals.

 

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Key Players

• The Dow Chemical Company (US)
• Reliance Industries Limited. (India)
• Saudi Basic Industries Corporation (SABIC) (Saudi Arabia)
• BASF SE (Germany)
• India Glycols Limited. (India)
• LyondellBasell Industries Holdings B.V. (Europe)
• Chemtex Speciality Limited (India)
• ExxonMobil Chemical Company (US)
• Eastman Chemical Company (US)
• Huntsman Corporation Chemical manufacturing company (US)

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