MONOETHYLENE GLYCOL MARKET ANALYSIS

Market Challenges And Opportunities

Global Monoethylene Glycol  Market: Restraints

• Fluctuation in raw material: The fluctuation in raw material costs and the availability of crude oil and other feedstock is one of the significant barriers to the expansion of the monoethylene glycol (MEG) market. Concerns about the sustainability of monoethylene glycol are influencing some end users to seek out alternatives that have better material performance than MEG.
• Counterbalance: Though the expansion of monoethylene glycol (MEG) market is being restrained due to high material costs and crude oil availability, the market for global monoethylene glycol is being driven increase in production of polyester. This is due to the fact that monoethylene glycol (MEG) is primarily used in the textile sector to produce polyester. Also, since monoethylene glycol (MEG)is a biodegradable substance, it will have less affect on the acquatic and marine animals and thus will have wide acceptance among all industries.

Global Monoethylene Glycol  Market: Opportunities

• Monoethylene glycol is Biodegradable product: Monoethylene glycol is a biodegradable product that has no negative effects on the environment or aquatic organisms. As a result, it is a good substitute for other products,  creating opportunities for the market player in the global monoethylene glycol market. The global monoethylene glycol market is also growing, owing to increasing demand for polyethylene terephthalate (PET) and polyester in the textile and plastic industries. The expanding plastics sector has fueled demand for applications of polyethylene terephthalate (PET), and this is expected to drive the global monoethylene glycol market growth.

Figure 1. Global Monoethylene Glycol Market Share (%) , By Region, in 2022