Monoethylene Glycol Market to Expand at CAGR of 6.1% during Forecast Period, Notes TMR Study

ALBANY, N.Y., Jan. 26, 2022 /PRNewswire/ -- Transparency Market Research: The global monoethylene glycol market is expected to surpass the value of US$ 61.7 Bn by the end of 2031, expanding at a CAGR of 6.1% during the forecast period. In 2020, the global market was valued at US$ 34.1 Bn in 2020. Manufacturers of monoethylene glycol (MEG) are finding opportunities in the plastics and polyester industries. MEG manufacturing is being increased in order to produce packaging materials and polyester films.

Latin America, 26/01/2022 (informazione.news - comunicati stampa - scienza e tecnologia)

ALBANY, N.Y. , Jan. 26, 2022 /PRNewswire/ -- The global monoethylene glycol market is expected to surpass the value of US$ 61.7 Bn by the end of 2031, expanding at a CAGR of 6.1% during the forecast period. In 2020, the global market was valued at US$ 34.1 Bn in 2020. Manufacturers of monoethylene glycol (MEG) are finding opportunities in the plastics and polyester industries. MEG manufacturing is being increased in order to produce packaging materials and polyester films.

The increasing use of monoethylene glycol in anti-freeze formulations is likely to play a significant role in the growth of the global monoethylene glycol market. Solvents and anti-icers for aviation are two further applications for monoethylene glycol. The expanding use of monoethylene glycol is estimated to foster growth of the global monoethylene glycol market in the near future.

In the global market, cash-rich businesses are expanding research and development for proprietary process technologies for both catalytic/thermal and simply catalytic MEG manufacturing. Small-scale market operators are facing stiff competition from established firms.

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