Monoethylene Glycol Market Size and Share: A Comprehensive Overview
The monoethylene glycol market was estimated at USD 5.77 billion in 2022 and is likely to grow at a CAGR of 3.52% during 2023-2028 to reach USD 7.1 billion in 2028.
Monoethylene glycol is a pleasant, hygroscopic, colorless, odorless, and involatile liquid. Ethylene undergoes oxidation to form EO, which is then hydrolyzed to create MEG. The most popular kind of ethylene glycol (EG) is MEG. It is extensively utilized in the manufacturing of PET, polyester, and antifreeze and coolant applications, which primarily serve the packaging, textile, and automotive end-use industries.