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Mono Ethylene Glycol Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A22594
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Mono Ethylene Glycol Prices December 2023
|
Product
|
Category | Region | Price |
|---|---|---|---|
| Mono Ethylene Glycol | Petrochemicals | USA | 431 USD/MT |
| Mono Ethylene Glycol | Petrochemicals | South Korea | 479 USD/MT |
| Mono Ethylene Glycol | Petrochemicals | Germany | 620 USD/MT |
| Mono Ethylene Glycol | Petrochemicals | Saudi Arabia | 458 USD/MT |
During the fourth quarter of 2023, the price of mono ethylene glycol in the USA reached 431 USD/MT with an upward trajectory. The production costs of the compound increased due to a surge in crude oil prices. This trend is also influenced by insufficient inventory levels and increased feedstock ethylene costs.
The price trend of mono ethylene glycol in South Korea witnessed a bullish trend and reached 479 USD/MT during the fourth quarter of 2023. There was a surge in prices due to low supply and high demand in the country. The market also observed a 2% increase in prices as compared to the same quarter of the previous year.
In Germany, mono ethylene glycol price trend experienced a downward trajectory with a 2% decrease in prices as compared to last year, which further lowered to 1.9% in December. The lackluster demand in the country resulted in 620 USD/MT by the end of the year.
The mono ethylene glycol market in Saudi Arabia showcased a bearish trend and reached 458 USD/MT during the fourth quarter of 2023. The reduced consumption from the downstream packaging industries is responsible for this downward trajectory in the country.
Mono Ethylene Glycol Price Trend, Market Analysis, and News
IMARC’s newly published report, titled “Mono Ethylene Glycol Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of mono ethylene glycol pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing mono ethylene glycol price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Mono Ethylene Glycol Market Analysis
The global mono ethylene glycol market size reached US$ 26.5 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 37.6 Billion, at a projected CAGR of 4.00% during 2023-2032.
- The demand for mono ethylene glycol (MEG) is propelled by the production of polyester fibers, resins, and films. There is a rise in the utilization of polyester fibers in PET bottles in packaging and textiles around the world. This, in turn, is driving the demand for MEG.
- According to the IMARC Group’s report, the global textile market reached US$ 1,027.0 Billion in 2023 and is expected to reach US$ 1,445.4 Billion by 2032. The thriving textile industry in the emerging economies, where there is rise in the demand for polyester apparel and home furnishings, is positively influencing the MEG market.
- MEG is gaining traction, as it is used in manufacturing antifreeze formulations, which are essential precursors in automotive and industrial applications. High demand for efficient antifreeze products in colder regions is highlighting the importance of MEG.
- MEG demand is further amplified by rapid urbanization and economic growth, as these factors lead to the consumption of products that rely on MEG. With inflating income levels, people are purchasing more consumer goods, which is increasing the sales of MEG.
- The global drive for sustainability and eco-friendly products is leading to the development of bio-based MEG, as industries are preferring products that assist in reducing their carbon footprints. People are also looking for environment friendly products as they are more aware about the negative impact on the environment and their health.
- As per the National Aeronautics and Space Administration, Earth was 2.45 degrees Fahrenheit warmer in 2023 as compared to the late 19th century preindustrial period. This increasing temperature is resulting in the rising utilization of heating, ventilation, and air conditioning (HVAC) systems worldwide. As a result, there is an increase in the demand for MEG as heat transfer fluids due to its ability to transfer heat efficiently.
- Mono ethylene glycol has experienced a surge in production owing to its use to produce fiberglass, as it can improve the strength and durability of fiberglass composites.
Mono Ethylene Glycol News
The report covers the latest developments, updates, and trends impacting the global mono ethylene glycol market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in mono ethylene glycol production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.
Latest developments in the mono ethylene glycol industry:
- In 2023, INEOS acquired LyondellBasell to expand its ethylene oxide and derivatives business in the USA.
- In 2022, ExxonMobil and SABIC announced a strategic partnership to start a manufacturing facility of Gulf Coast Growth Ventures, which includes a mono ethylene glycol unit with a capacity of 1.1 million metric tons per year.
Product Description
Mono ethylene glycol (MEG) is a colorless, odorless, and slightly viscous liquid with a high solubility for water, alcohols, and other organic compounds. Structurally, it consists of two hydroxyl groups, making it a diol.
Primarily produced through the hydration of ethylene oxide in high temperature and pressure, MEG comprises low freezing point, high boiling point, and hygroscopic nature. These qualities make it highly beneficial in applications involving solvent action, moisture retention, and thermal stability.
It serves as a key ingredient in the production of polyester fibers and resins like polyethylene terephthalate (PET), which is a pioneer in textile and packaging industries. Its utilization in the automotive industry on account of its ability to decrease the freezing point of aqueous solutions while increasing their boiling points, underscores its versatility in various applications.
Regional Coverage
The report provides a detailed analysis of the mono ethylene glycol market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.
Global Mono Ethylene Glycol Price
The report offers a holistic view of the global mono ethylene glycol pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.
Europe Mono Ethylene Glycol Price
The European region has experienced a bearish market situation during the fourth quarter of 2023. This trend can be attributed to moderate to low demand from the downward packaging industry. Producers were forced to sell the product at low prices to avoid stockpiling, which negatively impacted both supply and price dynamics. The conflict between Israel and Palestine also resulted in negative price trends in the region.
This analysis can be extended to include detailed mono ethylene glycol price information for a comprehensive list of countries.
| Region | Countries Covered |
|---|---|
| Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Mono Ethylene Glycol Price
In North America, the mono ethylene glycol market has witnessed a moderate market trend for the prices of mono ethylene glycol during the fourth quarter of 2023. The market experienced low to moderate demand while creating a balance between production rates and inventory levels. This price trend in the region occurred due to low demand from the downstream packaging industry.
Specific data on mono ethylene glycol prices within the United States and Canada can also be provided.
| Region | Countries Covered |
|---|---|
| North America | United States and Canada |
Middle East and Africa Mono Ethylene Glycol Price
The mono ethylene glycol market in the Middle East and Africa (MEA) region showcased fluctuations during Q4 2023. While constant supply of ethylene had a positive impact, increased energy costs and rising labor expenses negatively impacted the market. However, heightened demand from downstream industries positively impacted the price trend. These all factors highlighted dynamic market situations in the region.
In addition to region-wise data, information on mono ethylene glycol prices for countries can also be provided.
| Region | Countries Covered |
|---|---|
| Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Mono Ethylene Glycol Price
The mono ethylene glycol pricing in the Asia Pacific region during the fourth quarter of 2023 experienced diverse conditions with MEG supply fluctuated from moderate to low while demand varied from moderate to high. This rising demand and low supply resulted in a surge in prices. Many countries in the region also witnessed constant price trend as compared to same quarter in previous years.
This analysis can be further extended to include detailed mono ethylene glycol prices for a comprehensive list of countries within the region.
| Region | Countries Covered |
|---|---|
| Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Mono Ethylene Glycol Price
The analysis of mono ethylene glycol prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
| Region | Countries Covered |
|---|---|
| Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
| Key Attributes | Details |
|---|---|
| Product Name | Mono Ethylene Glycol |
| Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Price Analysis, and Segment-Wise Assessment. |
| Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
| Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
| Information Covered for Key Suppliers |
|
| Customization Scope | The report can be customized as per the requirements of the customer |
| Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
|
| Post-Sale Analyst Support | 360-degree analyst support after report delivery |
| Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of mono ethylene glycol pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting mono ethylene glycol price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the mono ethylene glycol industry.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
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- For further assistance, please connect with our analysts.
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