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Monoethylene glycol industry to witness ferocious production expansion strategies across an extensive regional landscape, India set to leave an indelible mark on the global progression matrix

Over the past few decades, the consistent rally of fluctuations in global crude oil prices may have sent the overall monoethylene glycol industry into a tizzy. However, the gradual stabilization of crude prices in the recent times is anticipated to boost the financial dynamics of this business space and reinvigorate the fading optimism of monoethylene glycol manufacturers in the forthcoming years. In fact, authentic estimates indicate that the global monoethylene glycol market share is likely to register an impressive y-o-y growth rate of over 6 percent over 2017-2024. Apparently, the ever-evolving fashion trends complemented with drastic alterations in consumer lifestyle has brought about a paradigm shift in the way modern-age apparels are designed. This phenomenon has, in turn, driven the production and sales of polyester fiber which is known for its exceptional chemical and mechanical properties. Here, it would be prudent to mention that monoethylene glycol is being extensively utilized as a primary raw material for manufacturing polyester fibers. In consequence, the rising prominence of polyester fiber across several end-user verticals, including the likes of electronics, textiles, packaging, and resins, would undeniably provide a substantial impetus to the swift progression of the overall monoethylene glycol industry share in the forthcoming years.

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