Monoethylene Glycol Market Worth $246 Billion By 2023
The Monoethylene
Glycol Market was
worth USD 21.45 billion in the year 2014 and is expected to reach approximately
USD 38.71 billion by 2023, while registering itself at a compound annual growth
rate (CAGR) of 6.78% during the forecast period.Themarket is segmented by
Grade, Application and Regions. In terms of grade the market is segmented into
Industrial, Low Conductivity, Polyester and Antifreeze. On the basis of application
the market is segmented into Polyester Fiber, Antifreeze & Coolants, PET
and Chemical Intermediates.
The
worldwide Monoethylene glycol market is anticipated to experience a basic
improvement over the figure time span. The market is expected to be affected by
expanding interest of MEG as raw material for the creation of polyester
strands. Monoethylene glycol (MEG) is a basic unrefined material for present
day applications.
Polyester grade section are foreseen to generate
highest market share
Polyester
grade segment are anticipated to create most noteworthy piece of the overall
industry over the estimate time frame inferable from the changing purchaser
lifestyle combined with ceaseless examples of recently sketched out cluster
will drive the polyester fiber industry in coming years.
Polyethylene terephthalate (PET)
industry is expected to generate highest market share over the forecast period
The
global Monoethylene glycol (MEG) market is portioned into PET, Chemical
Intermediates, Antifreeze and Coolants, Polyester Fiber, on the basis of
applications. Polyethylene terephthalate (PET) industry is foreseen to create
most elevated piece of the overall industry over the conjecture time frame
because of moving preference towards metal, wood and paperboard towards
plastics in packaging industry and has basically upscaled the monoethylene glycol
market demand as the product is generally used in the product of PET.
In 2014North America possessed a
major share of the Monoethylene glycol (MEG) Market
North
America possessed a major share of the Monoethylene glycol (MEG) Market in 2014
because of the expanding interest for polyester strands and expanding disposal
income particularly among middle income group. The Asia-Pacific market has not
encountered any significant development because of high valuing of MEG as a raw
material, however can encounter ideal development in coming years attributable
to expanding in disposable income in the area.
The
leading players in the market are Regal Dutch, SABIC,AkzoNobel, The Dow
Chemicals, Dependence Enterprises and Mitsubishi Compound.
Browse full research report with TOC on
" Monoethylene Glycol Market By Grade And Application - Global Industry
Analysis And Forecast To 2023 " at:
Table of Contents
1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1. Introduction
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
3.2.1. Drivers
3.2.1.1. Growing demand for
polyester fiber in Asia Pacific region
3.2.1.2. Growth in Industrial
Sector
3.2.2. Restraints
3.2.2.1. High Price of Raw
Material
3.2.3. Opportunities
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