The major factor that is driving the growth of the Monoethylene Glycol market is soaring demand for PET resin, polyester fibers and antifreeze. In addition, Monoethylene Glycol is a bio-degradable compound due to which it aquatic organisms are less affected. This factor is also contributing to the growth of the market. However, the major limiting factors of the market are high prices of crude oil and regulations for environmental protection due to which there are less number of approved chemicals present in the market. Exposure to Monoethylene Glycol is very toxic for humans; ingestion of Monoethylene Glycol may severely affect kidneys, heart, central nervous systems. This factor is also hampering the growth of the market. Rising demand for non- ionic surfactant and growing textile & fiber industries are expected to create lot of opportunities for the enlargement of the market.
Monoethylene Glycol application market is segmented into automotive antifreeze, PET resin, polyester fibers and others. PET resin segment is the largest revenue generating segment due to high demand for Monoethylene Glycol in the manufacturing process of PET bottles.
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Monoethylene Glycol is an odorless, colorless, sweet-tasting, syrupy organic compound. It is generally known as Ethylene glycol. It is widely used as raw material in the manufacturing process of fabric and polyester fibers. In addition, it is used as coolant material, anti- freeze, dewatering agent, chemical intermediate, humecant, anti- corrosion agent, etc. Moreover, Monoethylene Glycol has a wide range of applications, ranging from production of tobacco to manufacturing process of food & beverages, medicines, cosmetics, etc. Monoethylene Glycol geography market is segmented into North America, Europe, Asia-Pacific and RoW. Asia Pacific is the dominating segment of this market due to large number of manufacturers of fiber and textile in Indonesia, India, and China. The key strategies adopted by the companies to expand in the Monoethylene Glycol market are product launch, mergers & acquisitions and agreements & collaborations. These strategies would help in gaining competitive advantages and expansion of the market. The companies profiled in this report are Chemtex Speciality Limited, India Glycols Ltd., LyondellBasell, Reliance Industries Ltd., Shell Global, and Dow Chemical Company.
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MARKET BY APPLICATIONS
- Automotive Antifreeze
- PET Resin
- Polyester Fibers
MARKET BY GEOGRAPHY
- North America
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