According to Data Bridge Market Research new Market report, global monoethylene glycol market will account to an estimated USD 25.30 billion in 2018 growing at a CAGR of 4.80% during the forecast period of 2019 to 2026.
Global Monoethylene Glycol Market
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Monoethylene glycol is a type of chemical that in its truest form, an odorless colorless sweet tasting liquid. It is majorly applied as an ingredient in anti-freeze production or in the production of polyester fibers. It is a highly toxic, hazardous chemical. The production of the compound is through ethylene oxide in reaction with water.
Global monoethylene glycol market is segmented on the basis of technology, application and geography.
By Technology (Naptha-Based, Coal & Natural Gas-Based, Bio-Based), Application (Fiber, PET, Film, Antifreeze & Coolant, Others) and Geography (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
FACTORS DRIVING GROWTH IN MONOETHYLENE GLYCOL MARKET
With the subsequent rise in demand for monoethylene glycol due to its varied characteristics, and increased applications in the production of number of end-use products such as polyester fibers, PET bottle, usage as a raw ingredient in anti-freeze, and various other end-uses. This increase in demand from various end-use applications and products is expected to act as a driver for the market growth.
Few of the major competitors currently working in the monoethylene glycol market are SABIC, MEGlobal B.V., Royal Dutch Shell, Braskem, Haldor Topsoe A/S, Formosa Plastics Corporation, DowDuPont, Reliance Industries Limited, China Petrochemical Corporation, BASF SE, PTT Global Chemical Public Company Limited, Sibur, LOTTE Chemical CORPORATION, Eastman Chemical Company, Exxon Mobil Corporation, Huntsman International LLC, INEOS, Indian Oil Corporation Ltd, India Glycols Limited, Indorama Corporation, Akzo Nobel N.V., Clariant, LG Chem, Mitsui Chemicals Inc., Mitsubishi Chemical Corporation and Kuwait Petroleum Corporation (KPC).
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