According to a new report, published by KBV research, The Global Monoethylene Glycol Market size is expected to reach $27.5 billion by 2030, rising at a market growth of 3.4% CAGR during the forecast period. In the year 2022, the market attained a volume of 27,223.9 Kilo Tonnes, experiencing a growth of 2.8% (2019-2022).
The Textile segment is leading the Global Monoethylene Glycol Market by End-Use in 2022, thereby achieving a market value of $11.9 billion by 2030. The growth of the global population, rising disposable incomes, and changing consumer preferences have fueled the demand for clothing and apparel. Polyester is a popular choice for clothing due to its affordability and performance characteristics. This trend drives the demand for MEG in the textile sector. The textile industry continually innovates by developing new types of fibers and fabrics. This includes sustainable and eco-friendly textiles made from recycled polyester fibers, which use MEG as a key component. Innovations in textile technology can lead to increased MEG consumption.
The Polyester Fibers segment is showcasing a CAGR of 5.3% during (2023 - 2030). The demand for polyester fibers in the textile and apparel industry has steadily increased. Polyester fibers are favored for their durability, wrinkle resistance, and ease of care. The growth in the global population, urbanization, and rising disposable incomes in emerging economies have driven the demand for textiles and apparel, thus boosting the demand for MEG as a raw material. The polyester fiber industry continues innovating by developing new types of fibers, including recycled polyester (rPET) and bio-based polyester fibers. MEG is used to produce both traditional and sustainable polyester fibers, contributing to market growth.
The Asia Pacific region dominated the Global Monoethylene Glycol Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $15.2 billion by 2030. The Europe market is poised to grow at a CAGR of 3.1% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 3% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/monoethylene-glycol-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Shell plc, LyondellBasell N.V., India Glycols Limited, SABIC, UPM Biochemicals, Kimia Pars Shayankar Co., Arham Petrochem Private Limited, Indian Oil Corporation Ltd., Pon Pure Chemicals Group, and ACURO ORGANICS LIMITED.
By End-Use (Volume, Kio Tonnes, USD Million, 2019-2030)
By Application (Volume, Kio Tonnes, USD Million, 2019-2030)
By Geography (Volume, Kio Tonnes, USD Million, 2019-2030)
Companies Profiled
Unique Offerings 
