COVID-19 Outbreak on Mono Ethylene Glycol (MEG) Market Share, Top Manufacturers, Growth Analysis, Industry Statistics, Opportunities and Forecast 2025

COVID-19 Outbreak on Mono Ethylene Glycol (MEG) Market Share, Top Manufacturers, Growth Analysis, Industry Statistics, Opportunities and Forecast 2025

“Global Mono Ethylene Glycol Market Estimated To Be Rigged With a Significant Growth By 2025”
Mono Ethylene Glycol (MEG) Market: Information by Technology (Gas-Based, Naphtha-Based, Coal-Based, and Bio-Based), Function (Chemical Intermediate, Solvent Coupler, Solvent, and Humectant), Application (Polyester Fiber, PET Products, Anti-Freeze Coolant, and Industrial) and Region- Forecast till 2025

Overview:

Mono Ethylene Glycol (MEG) has become an essential part of automotive, textiles, chemical processing, and other industries. MEG is a colorless syrupy liquid with a sweet taste and no odor. Increasing demands for polyethylene terephthalate (PET) and polyester has accounted for the major contributions from plastics and textile industries, which are some of the primary users of this compound.

On observing the current trends, the Global Mono Ethylene Glycol (MEG) Market is projected to touch a 06 % annual growth mark during the survey period. MEG has excellent viscosity, high boiling point, and low freezing point, which makes it suitable for manufacturing coolants and antifreeze for vehicles, and with the expansion of the automotive industry, the MEG Market’s growth will also accelerate.MEG is also renewable, which gives it a cutting edge over other non-renewable and non-recyclable materials.

With the expansion of the food & beverage industry, the demand for PET products is increasing, which is also a critical factor contributing to this market.Apart from the seamless growth, the Global MEG Market is struggling against some factors like the presence of Tri ethylene glycol (TEG) and Di Ethylene Glycol (DEG) as alternatives, toxic nature, and relatively high refining costs. However, bio-based MEG is propelling the market away from the constraints towards better futures.

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Segments of the Global Mono Ethylene Glycol (MEG) Market:

Global Mono Ethylene Glycol Market is segmented into three parts:

Technology: Based on technology, the MEG market is segmented into bio-based, gas-based, coal-based, and other MEG.

Functions: MEG is used as a solvent, chemical intermediate, humectant, and others.

End-Users: Automotive, textiles, packaging, and other major industries use MEG in making coolant, antifreeze, PET products, fibers, and other materials.

Recent Industry News:

Global MEG Market has defined its place in many crucial industries, but factors like the presence of alternatives and toxicity are the major obstacles in this course. Bio-based MEG is going to help the market in future aspects. The Asia Pacific region is the largest and will lead the markets because it will emerge as the fastest-growing market during the survey period.

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Regional Market Summary:

Asia Pacific, Europe, America, and The Middle East & Africa are the major regions observed for the Global Mono Ethylene Glycol Market.

The Asia Pacific region is leading the markets and will maintain the same during the projected period. Rising industrial activities, increasing demands for textile & PET products, expanding the automotive industry, rising per capita incomes, and other factors are the major contributors to this market. This region will also emerge as the fastest growing market with India, Japan, China, and South Korea as the major shareholders.

The European region is the second-largest market due to increasing demands for bio-based PET products, expanding the food & beverage industry, and the booming textile industry. The American region is the next in this tally, with the US as the primary market due to its consumption and production capabilities. The rest is the regions are also making considerable growth due to increasing industrialization activities.

COVID-19 Study in Detail:

COVID-19 Impact Analysis on Bio-Based Chemicals Market @ https://www.marketresearchfuture.com/report/covid-19-impact-bio-based-chemicals-market          

COVID-19 Impact Analysis on Surfactant Market @ https://www.marketresearchfuture.com/report/covid-19-impact-surfactant-market

NOTE: Our team of researchers is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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