Monoethylene glycol (also known as MEG) is a clear and colourless liquid with the chemical formula C2H7NO. It is miscible with water, alcohols, and many other organic compounds. MEG is the most important of the commercially ethylene glycols, as it has many industrial applications. It is used as a coolant and antifreeze in industrial processes, especially in the production of polyester fibres and resins.
The global Monoethylene glycol (MEG) market is segmented by application (polyester fiber, PET bottle, PET film, antifreeze, and industrial), end-user industry (textile, packaging, plastic, automotive and transportation, electronics, and paints), and by region (Asia-Pacific, North America, Europe, South America, the Middle East, and Africa). The MEG market is witnessing substantial growth, due to the growing demand from the polyester fiber industry.
Monoethylene glycol specifications
Monoethylene glycol (also known as Ethylene glycol, 1,2-ethanediol, and 1,2-Dihydroxyethane) is a slightly viscous and odourless liquid. It is a vital component in the manufacture of a wide range of products, including resins, heat transfer fluids, automotive antifreezes, water-based adhesives, latex paints, and asphalt emulsions.
MEG specifications | |
CAS No. | 107-21-1 |
HS Code | 29053100 |
Packaging | Drum |
Monoethylene glycol (MEG) market
The global Monoethylene glycol market size was valued at USD 26 billion in 2023 and is expected to reach USD 37 billion in 2032, with a CAGR of 4.1% during 2023 to 2032.
The growing demand for PET in the packaging sector is a significant factor driving the growth of the Monoethylene glycol market.
The Asia-Pacific region dominated the global market share, with growing textile and automotive activities in countries such as China, India, and Japan.
Monoethylene glycol (MEG) market, by application
Based on application, the Monoethylene glycol (MEG) market has been segmented into:
- Polyester fiber
- PET products
- Antifreeze coolants
- Industrial
The polyester fiber segment is estimated to witness the highest CAGR, due to the increased product consumption in the packaging industry. Antifreeze coolant is also expected to grow significantly due to the extensive use in electronics and other industries.
Monoethylene glycol (MEG) market, by region
Based on region, the Monoethylene glycol (MEG) market has been segmented into:
- Asia-Pacific
- North America
- Europe
- South America
- The Middle East
- Africa
The Asia-Pacific Monoethylene glycol (MEG) market dominate this market. Swelling economic conditions will boost the market growth in this Region. Moreover, China’s Mono ethylene Glycol (MEG) market held the largest market share, and the Indian Mono ethylene Glycol (MEG) market was the fastest-growing market in the Asia-Pacific region.
Monoethylene glycol (MEG) market, by end-user industry
Based on end user, the Monoethylene glycol (MEG) market has been segmented into:
- Textile
- Packaging
- Plastic
- Automotive and transportation
- Others
Textiles industry is dominating the Monoethylene glycol (MEG) market and held roughly 44% of the market in 2023.
Monoethylene glycol (MEG) market drivers
Emerging economics, increased infrastructures, and expanding fleet of cars are boosting the Monoethylene glycol industry. Plus, antifreeze and coolants are in high demand in heat exchangers systems.
Antifreeze and coolants are also useful in industrial and electrical applications. As a result, rising application potential in the automotive and electronic industries are likely to boost the sales of Monoethylene glycol.
Monoethylene glycol (MEG) market opportunities
Textile is a primary end-user industry for Monoethylene glycol, as the derivatives synthesize various polyester fibers. With growing investments and improved infrastructure facilities, the demand from the sector is likely to increase market revenue during the forecast period.
FAQ
What is the Monoethylene glycol (MEG) Market size?
The global Monoethylene glycol market size was valued at USD 26 billion in 2023 and is expected to reach USD 37 billion in 2032, with a CAGR of 4.1% during 2023 to 2032.
What are Monoethylene glycol (MEG) market drivers?
The growing demand for PET in the packaging sector is a significant factor driving the growth of the Monoethylene glycol market. As a result, rising application in the plastic and packaging industries are likely to boost the sales of Monoethylene glycol.
What is the fastest growing region in Monoethylene glycol (MEG) market?
The Asia-Pacific region dominated the global market share, with growing textile and automotive activities in countries such as China, India, and Japan.
What is MEG?
Monoethylene glycol (also known as MEG) is a clear and colourless liquid with a sweet taste. It is miscible with water, alcohols, and many other organic compounds. MEG is the most important of the commercially ethylene glycols, as it has many industrial applications.