Monoethylene Glycol Market Share

APAC Market Statistics

The Asia Pacific monoethylene glycol market is projected to hold the largest revenue share by the end of 2037. The growth of the market can be attributed majorly owing to the increasing growth in numerous end-use industries, including textile, automotive, packaging, and so on, where monoethylene glycol has been used to prepare products as of its better strength, great stability, and high gloss. Furthermore, increasing investment in various industries in the region is another major factor, which is estimated to drive market growth in the region over the forecast period. For instance, India's textile industry is expected to bring in investments worth USD 125 billion and boost exports to nearly USD 350 billion by 2025. Further, the presence of key manufacturers of PET and polyester fiber in emerging nations such as Malaysia, India, and China, along with significant expansion of the electronic sector in the region is another key factor that is anticipated to drive the market growth further during the projected time frame.

North American Market Forecast

In addition, the North America monoethylene glycol market is estimated to display notable market growth by the end of 2037. The major factors that contribute to the expansion of the market in this region are the rapidly increasing textile industry in the region. In addition to this, the use of monoethylene glycol is highly extending as of its extensive use in the production of apparel, home furnishing products, technical textile, and so on. Moreover, the growing export value of textile products is another factor that is estimated to further drive the market growth in the region. For instance, the U.S. industry has become the second-largest exporter of textile-related products in the world. Fiber, textile, and apparel exports combined were USD 29 billion in 2021.