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Asia leads global MEG production and consumption
24
Aug '15
Monoethylene glycol (MEG) is mainly used as a raw material in the manufacturing of PET resin, polyester fibre and antifreeze. Fibre2Fashion's latest report “Global MEG Market Outlook - Demand Supply Analysis, Market Size By Application, By Region-Trends and Forecast till 2020”, presents analysis of anticipated significant growth in MEG consumption during the forecast period of study, majorly driven by growing increase in consumption of MEG into polyester fibre and PET resin.

The report also discusses the trends, opportunities, and challenges within the market globally. For analysis, the report segments the global MEG market by application and region in terms of both volume and value. Polyester fibre contributes major share of the market applications with 53 per cent, in the year 2014 and looks to continue growing strong by 2020. PET resins application follows after polyester and is projected to grow fastest from 2015 to 2020.

Asia-Pacific major MEG producer and consumer

Global MEG market is projected to reach $34,164 million by 2020, growing at a CAGR of 4.8 per cent between 2015 and 2020. MEG consumption in Asia-Pacific was the highest in 2014. The region is expected to remain the major market in terms of volume by 2020 and is predicted to grow at a CAGR of 5.1 per cent.

Click here to access the report.

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