Ethylene Glycol MEG

Global Market Outlook on Ethylene Glycol MEG

• The global demand is expected to grow at 2-4 percent CAGR through 2023–2026

• PET applications in packaging, polyester application in textiles, MEG applications as anti-freeze and coolant in automobiles are likely to remain as the key growth drivers

• Capacity expansions in Asia to increase the supply and could cause supply demand imbalance which may lead to lower margins in 2023 and 2024

• Europe would continue to be import dependent during the forecast period

Demand Market Outlook

• The global MEG market is likely to be well supplied across all the regions. Packaging and textile segments would continue to drive the MEG market across all the three regions.

Global Market Size: MEG

• The monoethylene glycol market is expected to reach over $35.1 billion by 2025, growing at a CAGR of 2-4 percent during the forecast period 2023-2026. Asia Pacific accounted for the largest share of global MEG market in 2021 and the trend to continue.

• Due to price decrease in 2020, market size declined, however due to steep increase in prices, and firm demand market size rebounded in 2021.

• Market size in 2022 and 2023 to decline in line with drop in prices, while recovery in the prices is expected from 2024

Global Capacity–Demand Analysis

• Global demand is expected to increase at a CAGR of 2-4 percent, in line with the demand growth in Asia, which is expected to grow at 3-5 percent

• The Middle East and North America would continue to be a major source of MEG and would contribute to a significant portion of the export market due to low-cost ethylene availability

Ethylene Glycol Market Outlook

• The global MEG market is likely to become an oversupplied market following capacity additions in Asia

• Major exporter, North America, added 1.54 MMT to its current capacity in 2020 and 0.35 MMT of coal-based MEG capacity in India came online in early 2022

• Global average operating rates dropped in 2022 and the trend to continue in 2023 due to weak demand and is expected to be 65-80 percent, while operating rates to be in the range of 80-90 percent from 2024

• Global demand stood at 31.3 MMT in 2022 and is expected to reach 35.1 MMT by 2025

Engagement Outlook

• The shale gas revolution is expected to drive capacity increases in the US while producers such as Saudi Aramco and Petronas are pushing ahead with capacity expansion to gain and secure their downstream chemical markets

• Import-dependent Asian and European buyers are recommended to look for imports from the Middle East and North America, as an alternate sourcing destinations

Global Demand by Application : Ethylene Glycol MEG

This section of the report contains information about the end-use applications of MEG and the global demand based on the application. It also presents the downstream applications and the demand outlook for each of these with supporting factors as well as the largest driver for the demand.  

Global Market Outlook

The global market outlook study also analyses the global market by geographic region and its unique features of supply-demand.

Global Trade Dynamics

The current scenario and the expected ethylene glycol market trends on the global scale are illustrated. The report also explains important facts and figures about the global import market share country-wise. For import-dependent countries, the ethylene glycol market share of the countries that they import from is presented.

Regional Market Analysis

Each region and country has different nuances in the MEG market. The regional market analysis presents the key facts and figures for each region. This includes market information about the capacity and growth rate as well as about the maturity of the market. 

Supply–Demand Trends and Outlook

The current situation, supply-demand ethylene glycol market trends, key players in the chemicals market, and the main factors that cause and affect them are listed for each country. If there any planned additions to capacity, they are listed.

Import Share by Country 

The latest facts and figures with regard to the imports by each country are illustrated. 

Export Share by Country

If the country exports MEG, the countries to which exports are made and the share of each country are also illustrated. 

Industry Driver And Constraints : Ethylene Glycol MEG

The MEG ( or ethane-1,2-diol: organic compound name) market is dependant on certain factors that either drive or constraint its growth. The downstream industries such as polyester fiber, PET, antifreeze agent and the demand for glycol solvents drive the demand. The factors that constrain the market are also listed. 

Why You Should Buy This Report

• The report gives an analysis of the global and regional ethylene glycol market price, cost structure breakdown, ethylene glycol price history and analysis, demand analysis, trade dynamics, import-export, etc.

• It lists out the major industry drivers and constraints and provides the Porter’s five force analysis for Europe, North America, and Asia regions.

• The report provides information about the ethylene glycol suppliers, capacity share, key profiles and SWOT analysis of major players like SINOPEC, SABIC, MEGlobal, etc.