Key Growth Strategies Adopted by Leading Players in the Monoethylene Glycol (MEG) Market Between 2015 and 2017.
[123 Pages Report] The Monoethylene Glycol (MEG) market was valued at USD 23.12 billion in
2016 and is projected to reach USD 30.40 billion by 2022, at a CAGR of 4.5%
during the forecast period. The high demand for MEG in applications including,
PET, fiber, film, and antifreeze & coolant is driving the MEG market
The report analyzes the key growth strategies adopted by
leading market players between 2015 and 2017. SABIC (Saudi Arabia), Formosa
(Taiwan), Dow (US), BASF SE (Germany), MEGlobal (UAE), Sinopec (China), Shell
(Netherlands), Reliance (India), and SIBUR (Russia) are the key players
operating in the MEG market. These companies adopted mergers &
acquisitions, agreements & partnerships and investments & expansions
strategies to strengthen their presence in the MEG market.
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Target Audience:
- Manufacturers
of MEG
- Chemical
Suppliers
- Traders,
Distributors, and Suppliers of MEG
- Raw Material
Suppliers
- Government
and Research Organizations
- Industry
Associations
Growing demand for MEG in the production of PET and fiber and
antifreeze & coolant applications especially in APAC region is driving the
MEG market.
SABIC (Saudi Arabia) is the market leader with a total MEG
capacity of 6 million tons. SABIC has adopted investment & expansion
strategy to expand in MEG market. The company is targeting the North American
region to cater to the needs of MEG market. For instance, in May 2017, SABIC
ExxonMobil Chemical are investing in a South Texas and Louisiana a strategic
location for investment in an ethylene facility of 1.8 million metric ton/year
to provide consistent raw material supply to MEG plants. 24% of global
polyester produced uses MEG produced by SABIC.
Shell (Netherlands) is vertically integrated in the value
chain and produces ethylene, ethylene glycols as well as glycol-based heat
transfer fluids. The company has major ethylene glycol plants in Netherland
(0.16 million tons), China (0.18 million tons), Saudi Arabia (1.00 million
tons), Canada (0.52 million tons), and US (0.4 million tons). The company is
constantly investing across its value chain to grow in the market.
Shell is focused on investment & expansion in MEG market.
In March 2016, China National Offshore Oil Corporation (CNOOC) and Shell Nanhai
B.V. planned to expand CNOOC and Shell Petrochemical Company’s (CSPC) entered
into a joint venture in Guangdong Province of China. After the investment, Shell technologies is
expected to produce 480,000 ton per annum of ethylene glycol after the
expansion. In September 2015, Shell Singapore doubled the production of
ethylene oxide (HPEO) and ethoxylates at Jurong Island. The company invested in
a purification facility of ethylene oxide having a capacity of 140,000 tons per
annum. This investment will enable the company to supplement with raw material
for the production of MEG.
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
sales@marketsandmarkets.com
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