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Europe Monoethylene Glycol Market Size, Share & Industry Trends Analysis Report By End-Use (Textile, Packaging, Automotive, Plastics, and Others), By Application, By Country and Growth Forecast, 2023 - 2030

The Europe Monoethylene Glycol Market would witness market growth of 3.1% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 2,874.6 Kilo Tonnes, showcasing a growth of 2.0% (2019-2022).

MEG can be used in pharmaceutical formulations and cosmetics as a solvent, humectant, or preservative. Its adoption in these industries depend on regulatory requirements and consumer preferences for safe and effective products. The development and adoption of bio-based MEG, produced from renewable feedstocks, play a role in the future of market. This aligns with sustainability goals and reducing dependence on fossil resources. MEG is widely used in the textile industry for manufacturing polyester fibers and fabrics. Its adoption in this sector is driven by its ability to impart desirable characteristics such as strength, durability, and wrinkle resistance to textiles. Fashion trends, consumer preferences, and the demand for sustainable and eco-friendly textiles influence adoption trends in the textile industry. MEG continue to be a key component in the production of synthetic textiles.

MEG is critical in producing PET resins for plastic bottles and packaging materials. The adoption of MEG in this sector is directly tied to the demand for PET-based products. The adoption of MEG in PET resin aligns with the increasing demand for sustainable and recyclable packaging materials. Companies and consumers are increasingly focused on reducing plastic waste and promoting recycling.

The UK has a well-established automotive manufacturing sector, producing a range of vehicles, including commercial vehicles, passenger cars, and electric vehicles (EVs). Many of these vehicles require MEG-based antifreeze and coolant products. The UK automotive industry is export-oriented, with a substantial portion of the vehicles produced in the country being shipped to global markets. Exported vehicles often come equipped with MEG-based antifreeze and coolant. The automotive industry in the UK plays a vital role in driving the demand for MEG-based antifreeze and coolant products. The growth of the automotive industry, coupled with environmental and sustainability considerations, ensures that MEG remains a crucial component in the automotive fluids sector in the UK.

According to the Central Intelligence Agency, the growth rate of industrial production in France is 6.98%, including machinery, chemicals, automobiles, electronics, and textiles. MEG's adoption in chemical and industrial applications in France is driven by its versatility and wide range of applications. It is a critical component in producing various materials and fluids, making it integral to many industrial processes. France's commitment to sustainability and innovation further supports MEG's continued use and development in chemical and industrial applications within the region. Therefore, the region presents lucrative growth prospects for the market.

The Germany market dominated the Europe Monoethylene Glycol Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,343.1 million by 2029. The UK market is experiencing a CAGR of 2.3% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 3.9% during (2023 - 2030).

Based on End-Use, the market is segmented into Textile, Packaging, Automotive, Plastics, and Others. Based on Application, the market is segmented into Polyethylene Terephthalate (PET), Antifreeze, Polyester Fibers, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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.

Scope of the Study

Market Segments covered in the Report:

By End-Use (Volume, Kio Tonnes, USD Million, 2019-2030)

• Textile
• Packaging
• Automotive
• Plastics
• Others

By Application (Volume, Kio Tonnes, USD Million, 2019-2030)

• Polyethylene Terephthalate (PET)
• Antifreeze
• Polyester Fibers
• Others

By Country (Volume, Kio Tonnes, USD Million, 2019-2030)

• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe

Companies Profiled

• 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
• ACURO ORGANICS LIMITED

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