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GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS Ankita Roy, Treesha Banerjee and Liza D’souza from Global Market Estimates throw the spotlight on the growing Monoethylene Glycol (MEG) Market. Monoethylene Glycol (MEG) Market Insights
The global monoethylene glycol market is expected to grow at a CAGR of about 5.2% over the forecast period. This growth is mainly attributed to increasing demand for the product in several industries such as construction, consumer goods, automotive, textiles chemical processing, and pharmaceuticals among others. Along with this, rising application of Polyethylene Terephthalate (PET) in production of bottles and food containers is also likely to stimulate the market growth. Moreover, benefits associated with MEG such as high viscosity, high boiling point, high heat transfer capabilities and low freezing point among others are expected to augment the market growth over the coming years. The growing trend of urbanization coupled with changing global lifestyle is also anticipated to foster market growth. However, the market is likely to be hindered by potential health hazards caused by MEG and high cost associated with it.
Monoethylene Glycol Market: Technology Insights By technology, the industry is segmented into naphtha-based, coal-& natural gas-based, bio-based MEG production, and technology providers. The bio-based MEG Production is further segregated into sucrose, starchy biomass, and lignocellulose The bio-based MEG is anticipated to register a significant growth rate over the forecast period on account of rising inclination of consumers towards bio-based PET for packaging industry. ŠCOPYRIGHT 2017 GLOBAL MARKET ESTIMATES RESEARCH & CONSULTANTS
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