Industry Statistics
Monoethylene Glycol (MEG) Market: Demand Analysis By Application: PET Bottles and Films, Polyester Fibers, Antifreeze and Coolants, Others; Regional Analysis; Supply Demand Gap By Region; Growth Opportunities and Strategic Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Monoethylene Glycol (MEG) Market
Monoethylene glycol (MEG) is a viscous liquid, characterised by its clear and colourless appearance and sweet taste with no odour. MEG is primarily utilized as a raw material in the production of polyester fibres, films, and resins, such as polyethylene terephthalate (PET). Additionally, it serves as an essential ingredient in the manufacture of antifreeze, coolant, and de-icing solutions due to its low freezing point and high boiling point. The compound is produced through the hydration of ethylene oxide. Currently, fossil-based feedstocks, like naphtha, coal, or gas are predominantly used to prepare MEG.
Global Supply/Demand Outlook
The global monoethylene glycol (MEG) market stood at a volume of around 35,800 KT in 2023. The market is estimated to grow at a CAGR of 4.60% between 2024 and 2032 to reach a volume of about 53,149.1 KT by 2032. The market for monoethylene glycol (MEG) is supported by its increasing applications in different sectors. Its versatility and effectiveness make it a valuable component in diverse industries, including the plastic, textile, and chemical industries. It is widely utilised in the plastic industry for the production of films and resins, particularly polyethylene terephthalate (PET). In the textile sector, the compound is utilised in multiple processes, including polyester fibre production, printing, dyeing, and textile processing. Its growing demand as a feedstock in the packaging and textile sectors is expected to aid the market.
Among various applications, polyester fibre and yarn leads the market for MEG, accounting for around 58% of the market share. Furthermore, the development of bio-based MEG that can help reduce carbon emissions is expected to further strengthen the market.
The global capacity of monoethylene glycol (MEG) was about 59,000 KT in the year 2023. It is estimated to reach 65,000 KT by 2032. Asia Pacific holds the major share of monoethylene glycol (MEG) capacities, representing around 68% of the global production capacity. The plant capacity utilization of monoethylene glycol (MEG) stood at 63% in 2023.
Regional Market Analysis
The Asia Pacific region is expected to be the biggest market for MEG owing to the increasing demand for polyester fibre and the growing production of PET, which is used in diverse industries, such as the packaging sector, especially for beverage bottles.
Key Market Players
The top five players in the global monoethylene glycol (MEG) market are SABIC, ExxonMobil Corporation, Mitsubishi Chemicals, Formosa Plastic Corporation, and LyondellBasell Industries N.V.
The market leaders increasingly invest in research and development to innovative products and develop sustainable solutions. For instance, in November 2020, Braskem and Haldor Topsoe announced the successful development of their first bio-based MEG from sugar, following their 2017 collaboration to produce innovative and sustainable products. As the focus on building new value chains to deliver sustainable solutions increases, the technology is expected to witness increased adoption, revolutionizing the market and other end use markets.
Other major manufacturers of monoethylene glycol (MEG) are Royal Dutch Shell plc, Indian Oil Corporation Limited, Raha Group, Arham Petrochem Pvt. Ltd., Sinopec, Nan Ya Plastics Corporation, Ishtar Company LLC, and Kimia Pars Co.
Key Questions Answered in the Report:
- What are the high-growth opportunities and markets for monoethylene glycol (MEG) by application and region?
- Which segments and regions are projected to grow at a faster pace and why in the monoethylene glycol (MEG) market?
- What is the nameplate capacity of monoethylene glycol (MEG) by region from 2018 to 2032?
- How does the plant capacity utilisation of monoethylene glycol (MEG) vary by region between 2018 and 2032?
- Who are the major players in the monoethylene glycol (MEG) market by capacity and region?
- What major plant shutdowns and expansions have occurred in the monoethylene glycol (MEG) market in the last year and the last quarter?
- What major plant shutdowns and expansions are planned in the monoethylene glycol (MEG) market over the next year and quarters?
- How did export and import dynamics of monoethylene glycol (MEG) vary by region in terms of value between 2018 and 2023?
- How did export and import dynamics of monoethylene glycol (MEG) vary by region in terms of volume between 2018 and 2023?
- What impacts have shutdowns, force majeure events, and plant closures had on demand and pricing of monoethylene glycol (MEG)?
- What are the environmental considerations and regulatory impacts affecting the monoethylene glycol (MEG) market?
- What technological innovations are having an impact on the production and application of monoethylene glycol (MEG)?
- What are the key trends and innovations in the monoethylene glycol (MEG) market?
- What are the challenges and opportunities faced by monoethylene glycol (MEG) manufacturers?
- What are the potential risks and barriers to entry for new players in the monoethylene glycol (MEG) market?
- What strategic investments and expansions have major players made in the monoethylene glycol (MEG) market?
- How are geopolitical factors and international trade policies affecting the global monoethylene glycol (MEG) market?
- What are the price trends for monoethylene glycol (MEG), and how are they expected to change?
- How does the supply chain of monoethylene glycol (MEG) operate, and what are its key components?
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Key Assumptions
4 Global Monoethylene Glycol (MEG) Market Analysis, In Volume (Thousand Tonnes)
4.1 Global Monoethylene Glycol (MEG) Historical Market (2018-2023)
4.2 Global Monoethylene Glycol (MEG) Market Forecast (2024-2032)
4.3 Global Monoethylene Glycol (MEG) Market Demand Analysis, by Application
4.3.1 PET Bottles and Films
4.3.1.1 Demand Analysis and Forecast (2018-2032)
4.3.2 Polyester Fibers
4.3.2.1 Demand Analysis and Forecast (2018-2032)
4.3.3 Antifreeze and Coolants
4.3.3.1 Demand Analysis and Forecast (2018-2032)
4.3.4 Others
4.4 Global Monoethylene Glycol (MEG) Market by Region
4.4.1 North America
4.4.1.1 Demand Analysis and Forecast (2018-2032)
4.4.1.2 Market by Application (2018-2032)
4.4.2 Europe
4.4.2.1 Demand Analysis and Forecast (2018-2032)
4.4.2.2 Market by Application (2018-2032)
4.4.3 Asia Pacific
4.4.3.1 Demand Analysis and Forecast (2018-2032)
4.4.3.2 Market by Application (2018-2032)
4.4.4 Latin America
4.4.4.1 Demand Analysis and Forecast (2018-2032)
4.4.4.2 Market by Application (2018-2032)
4.4.5 Middle East and Africa
4.4.5.1 Demand Analysis and Forecast (2018-2032)
4.4.5.2 Market by Application (2018-2032)
4.5 Global Monoethylene Glycol (MEG) Supply Demand Gap, By Region
4.5.1 North America
4.5.1.1 Demand-Supply Gap Analysis and Forecast (2018-2032)
4.5.2 Europe
4.5.2.1 Demand-Supply Gap Analysis and Forecast (2018-2032)
4.5.3 Asia Pacific
4.5.3.1 Demand-Supply Gap Analysis and Forecast (2018-2032)
4.5.4 Latin America
4.5.4.1 Demand-Supply Gap Analysis and Forecast (2018-2032)
4.5.5 Middle East and Africa
4.5.5.1 Demand-Supply Gap Analysis and Forecast (2018-2032)
5 North America Monoethylene Glycol (MEG) Market Analysis
5.1 United States of America
5.1.1 Demand Analysis and Forecast (2018-2032)
5.1.2 Demand Supply Gap
5.2 Canada
5.2.1 Demand Analysis and Forecast (2018-2032)
5.2.2 Demand Supply Gap
6 Europe Monoethylene Glycol (MEG) Market Analysis
6.1 Germany
6.1.1 Demand Analysis and Forecast (2018-2032)
6.1.2 Demand Supply Gap
6.2 UK
6.2.1 Demand Analysis and Forecast (2018-2032)
6.2.2 Demand Supply Gap
6.3 France
6.3.1 Demand Analysis and Forecast (2018-2032)
6.3.2 Demand Supply Gap
6.4 Italy
6.4.1 Demand Analysis and Forecast (2018-2032)
6.4.2 Demand Supply Gap
6.5 Spain
6.5.1 Demand Analysis and Forecast (2018-2032)
6.5.2 Demand Supply Gap
6.6 Others
7 Asia Pacific Monoethylene Glycol (MEG) Market Analysis
7.1 China
7.1.1 Demand Analysis and Forecast (2018-2032)
7.1.2 Demand Supply Gap
7.2 Japan
7.2.1 Demand Analysis and Forecast (2018-2032)
7.2.2 Demand Supply Gap
7.3 India
7.3.1 Demand Analysis and Forecast (2018-2032)
7.3.2 Demand Supply Gap
7.4 South Korea
7.4.1 Demand Analysis and Forecast (2018-2032)
7.4.2 Demand Supply Gap
7.5 ASEAN
7.5.1 Demand Analysis and Forecast (2018-2032)
7.5.2 Demand Supply Gap
7.6 Australia
7.6.1 Demand Analysis and Forecast (2018-2032)
7.6.2 Demand Supply Gap
7.7 Others
8 Latin America Monoethylene Glycol (MEG) Market Analysis
8.1 Brazil
8.1.1 Demand Analysis and Forecast (2018-2032)
8.1.2 Demand Supply Gap
8.2 Argentina
8.2.1 Demand Analysis and Forecast (2018-2032)
8.2.2 Demand Supply Gap
8.3 Mexico
8.3.1 Demand Analysis and Forecast (2018-2032)
8.3.2 Demand Supply Gap
8.4 Others
9 Middle East and Africa Monoethylene Glycol (MEG) Market Analysis
9.1 Saudi Arabia
9.1.1 Demand Analysis and Forecast (2018-2032)
9.1.2 Demand Supply Gap
9.2 United Arab Emirates
9.2.1 Demand Analysis and Forecast (2018-2032)
9.2.2 Demand Supply Gap
9.3 Nigeria
9.3.1 Demand Analysis and Forecast (2018-2032)
9.3.2 Demand Supply Gap
9.4 South Africa
9.4.1 Demand Analysis and Forecast (2018-2032)
9.4.2 Demand Supply Gap
9.5 Others
10 Growth Opportunities and Strategic Analysis
10.1 Supply Chain Analysis and Its Component
10.2 Capacity Expansions, Plant Shutdowns, Force Majeure Events, and Plant Closures in the Last One Year and the Last one Quarter
10.3 Capacity Expansions, Plant Shutdowns, Force Majeure Events, and Plant Closures in Next One Year and the Next one
10.4 Impact Analysis in Price and Demand after Force Majeure Events, and Plant Closures
10.5 Environmental Considerations and Government Regulations
10.6 Technology Innovation and Its Impact on Production and Application
10.7 Challenges and Opportunities Faced by Existing Manufacturers
10.8 Potential Risks and Barriers to Entry for New Players
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 SABIC
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio and Major Grades
11.2.1.3 Capacity by Location
11.2.1.4 Expansion Plan
11.2.1.5 Major Consumers
11.2.1.6 Revenue from POI
11.2.1.7 Technological Innovation and Sustainability
11.2.2 LyondellBasell industries N.V.
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio and Major Grades
11.2.2.3 Capacity by Location
11.2.2.4 Expansion Plan
11.2.2.5 Major Consumers
11.2.2.6 Revenue from POI
11.2.2.7 Technological Innovation and Sustainability
11.2.3 Mitsubishi Chemicals
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio and Major Grades
11.2.3.3 Capacity by Location
11.2.3.4 Expansion Plan
11.2.3.5 Major Consumers
11.2.3.6 Revenue from POI
11.2.3.7 Technological Innovation and Sustainability
11.2.4 Formosa Plastic Corporation
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio and Major Grades
11.2.4.3 Capacity by Location
11.2.4.4 Expansion Plan
11.2.4.5 Major Consumers
11.2.4.6 Revenue from POI
11.2.4.7 Technological Innovation and Sustainability
11.2.5 ExxonMobil Corporation
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio and Major Grades
11.2.5.3 Capacity by Location
11.2.5.4 Expansion Plan
11.2.5.5 Major Consumers
11.2.5.6 Revenue from POI
11.2.5.7 Technological Innovation and Sustainability
11.2.6 Royal Dutch Shell plc
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio and Major Grades
11.2.6.3 Capacity by Location
11.2.6.4 Expansion Plan
11.2.6.5 Major Consumers
11.2.6.6 Revenue from POI
11.2.6.7 Technological Innovation and Sustainability
11.2.7 Indian Oil Corporation Limited
11.2.7.1 Company Overview
11.2.7.2 Product Portfolio and Major Grades
11.2.7.3 Capacity by Location
11.2.7.4 Expansion Plan
11.2.7.5 Major Consumers
11.2.7.6 Revenue from POI
11.2.7.7 Technological Innovation and Sustainability
11.2.8 Raha Group
11.2.8.1 Company Overview
11.2.8.2 Product Portfolio and Major Grades
11.2.8.3 Capacity by Location
11.2.8.4 Expansion Plan
11.2.8.5 Major Consumers
11.2.8.6 Revenue from POI
11.2.8.7 Technological Innovation and Sustainability
11.2.9 Arham Petrochem Pvt. Ltd.
11.2.9.1 Company Overview
11.2.9.2 Product Portfolio and Major Grades
11.2.9.3 Capacity by Location
11.2.9.4 Expansion Plan
11.2.9.5 Major Consumers
11.2.9.6 Revenue from POI
11.2.9.7 Technological Innovation and Sustainability
11.2.10 Sinopec
11.2.10.1 Company Overview
11.2.10.2 Product Portfolio and Major Grades
11.2.10.3 Capacity by Location
11.2.10.4 Expansion Plan
11.2.10.5 Major Consumers
11.2.10.6 Revenue from POI
11.2.10.7 Technological Innovation and Sustainability
11.2.11 Nan Ya Plastics Corporation
11.2.11.1 Company Overview
11.2.11.2 Product Portfolio and Major Grades
11.2.11.3 Capacity by Location
11.2.11.4 Expansion Plan
11.2.11.5 Major Consumers
11.2.11.6 Revenue from POI
11.2.11.7 Technological Innovation and Sustainability
11.2.12 Ishtar Company LLC
11.2.12.1 Company Overview
11.2.12.2 Product Portfolio and Major Grades
11.2.12.3 Capacity by Location
11.2.12.4 Expansion Plan
11.2.12.5 Major Consumers
11.2.12.6 Revenue from POI
11.2.12.7 Technological Innovation and Sustainability
11.2.13 Kimia Pars Co.
11.2.13.1 Company Overview
11.2.13.2 Product Portfolio and Major Grades
11.2.13.3 Capacity by Location
11.2.13.4 Expansion Plan
11.2.13.5 Major Consumers
11.2.13.6 Revenue from POI
11.2.13.7 Technological Innovation and Sustainability
12 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Monoethylene Glycol (MEG) Market: Key Industry Highlights, 2018 and 2032
2. Global Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Application (Thousand Tonnes), 2018-2032
3. Global Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Region (Thousand Tonnes), 2018-2032
4. Global Monoethylene Glycol (MEG) Market Supply Demand Gap: Breakup by Region (Thousand Tonnes), 2018-2032
5. North America Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Application (Thousand Tonnes), 2018-2032
6. North America Monoethylene Glycol (MEG) Market Supply Demand Gap: Breakup by Country (Thousand Tonnes), 2018-2032
7. North America Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Country (Thousand Tonnes), 2018-2032
8. Europe Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Application (Thousand Tonnes), 2018-2032
9. Europe Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Country (Thousand Tonnes), 2018-2032
10. Europe Monoethylene Glycol (MEG) Market Supply Demand Gap: Breakup by Country (Thousand Tonnes), 2018-2032
11. Asia Pacific Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Application (Thousand Tonnes), 2018-2032
12. Asia Pacific Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Country (Thousand Tonnes), 2018-2032
13. Asia Pacific Monoethylene Glycol (MEG) Market Supply Demand Gap: Breakup by Country (Thousand Tonnes), 2018-2032
14. Latin America Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Application (Thousand Tonnes), 2018-2032
15. Latin America Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Country (Thousand Tonnes), 2018-2032
16. Latin America Monoethylene Glycol (MEG) Market Supply Demand Gap: Breakup by Country (Thousand Tonnes), 2018-2032
17. Middle East and Africa Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Application (Thousand Tonnes), 2018-2032
18. Middle East and Africa Monoethylene Glycol (MEG) Market Demand Analysis: Breakup by Country (Thousand Tonnes), 2018-2032
19. Middle East and Africa Monoethylene Glycol (MEG) Market Supply Demand Gap: Breakup by Country (Thousand Tonnes), 2018-2032
20. Global Monoethylene Glycol (MEG) Market Structure
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