Ethylene Glycol MEG

MEG primarily used as a feedstock for PET is currently witnessing supply deficit in global market. This report gives a detailed analysis on the global and regional market trends along with the key drivers and constraints for the industry.

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Ethylene Glycol MEG Industry Benchmarks

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The average annual savings achieved in Ethylene Glycol MEG category is 6.50%

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The industry average payment terms in Ethylene Glycol MEG category for the current quarter is 52.5 days

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    Ethylene Glycol MEG market frequently asked questions

    The key growth drivers of the ethylene glycol market are PET applications in packaging, polyester applications in textiles, MEG applications as antifreeze and coolants in automobiles.

    The global demand of ethylene glycol has been growing at 3.9 percent CAGR from 2016 and is expected to continue growing at the same rate until 2022.

    According to forecasts, the global MEG market will reach $35.1 million by 2022. There will be a deficit of supply for the markets of Asia and Europe, and they will have to depend on imports from North America and the Middle East.

    Although the global MEG market seems to be slightly undersupplied, the situation will witness major improvement as the markets in North America and the Middle East will continue their growth expansions. As the major consumers of MEG, China and India seem to be the market growth drivers in Asia.

    Some of the top market suppliers for ethylene glycol are SABIC, Sinopec, Equate Petrochemical, Nan Ya Plastics and Lotte Chemical.

    Asia holds a significant share of the supply market at 50 percent. North America and the European Union hold 12 percent and 6 percent of the supply market share respectively. The remaining 32 percent is contributed by other players in the market

    Ethylene Glycol MEG market report transcript

    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.

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