Monoethylene Glycol is an odorless, colorless, sweet-tasting, syrupy organic compound. It is generally known as Ethylene glycol. It is widely used as raw material in the manufacturing process of fabric and polyester fibers. In addition, it is used as coolant material, anti- freeze, dewatering agent, chemical intermediate, humecant, anti- corrosion agent, etc. Moreover, Monoethylene Glycol has a wide range of applications, ranging from production of tobacco to manufacturing process of food & beverages, medicines, cosmetics, etc.
The major factor that is driving the growth of the Monoethylene Glycol market is soaring demand for PET resin, polyester fibers and antifreeze. In addition, Monoethylene Glycol is a bio-degradable compound due to which it aquatic organisms are less affected. This factor is also contributing to the growth of the market. However, the major limiting factors of the market are high prices of crude oil and regulations for environmental protection due to which there are less number of approved chemicals present in the market. Exposure to Monoethylene Glycol is very toxic for humans; ingestion of Monoethylene Glycol may severely affect kidneys, heart, central nervous systems. This factor is also hampering the growth of the market. Rising demand for non- ionic surfactant and growing textile & fiber industries are expected to create lot of opportunities for the enlargement of the market.
Monoethylene Glycol by Application Market Analysis
Monoethylene Glycol application market is segmented into automotive antifreeze, PET resin, polyester fibers and others. PET resin segment is the largest revenue generating segment due to high demand for Monoethylene Glycol in the manufacturing process of PET bottles.
Monoethylene Glycol by Geography Market Analysis
Monoethylene Glycol geography market is segmented into North America, Europe, Asia-Pacific and RoW. Asia Pacific is the dominating segment of this market due to large number of manufacturers of fiber and textile in Indonesia, India, and China.
The key strategies adopted by the companies to expand in the Monoethylene Glycol market are product launch, mergers & acquisitions and agreements & collaborations. These strategies would help in gaining competitive advantages and expansion of the market. The companies profiled in this report are Chemtex Speciality Limited, India Glycols Ltd., LyondellBasell, Reliance Industries Ltd., Shell Global, and Dow Chemical Company.
High Level Analysis
The report analyzes various macro environments of the Monoethylene Glycol market using porter’s analysis. According to porter’s analysis, the bargaining power of the supplier is high due to high cost of switching. The bargaining power of buyer is low due to the specialized products of Monoethylene Glycol market. The threat of substitute is low due to unavailability of alternate products.
- The study helps to analyze the Monoethylene Glycol market trends to provide in-depth understanding of the entire market segment and thus, helps the market players to make strategic decisions
- To find out various regulations that result in lack of differential products. In addition, segmental analysis is also done to identify the largest revenue generating segment
- To study the various factors that are enhancing and restraining the growth of the market that would help the players in deeply understanding the market
- Analysis of environmental factors that would create opportunities for the growth of the market
- Study of SWOT and analysis of the captivating strategies adopted by the players in the market are conducted, which would help in assisting the stakeholders to take actionable decisions
- Analysis of the current market scenario, forecasts of the future transition trends and projected revenue of the market through 2013-2020 are expounded in the report; thus, help stakeholders analyze the market
- To find out the recent trends of the Monoethylene Glycol market and opportunities that would open doors for the investors to participate in the market, which in turn would help in the enlargement and expansion of market.
Monoethylene Glycol market is segmented based on applications and geographies.
MARKET BY APPLICATIONS
- Automotive Antifreeze
- PET Resin
- Polyester Fibers
MARKET BY GEOGRAPHY
- North America