Related Keywords: BASF SE, chemical companies, fluctuation in prices of raw materials, Global monoethylene glycol (MEG) market, highly competitive, major setback for MEG market, Nan Ya Plastics Corporation, PET, polyester fiber, presence of large oil and mining, Reliance Industries Limited, Royal Dutch Shell, Saudi Arabia Basic Industries Corporation (SABIC)
Global monoethylene glycol (MEG) market is anticipated to touch $ 40.85 billion in 2023 from reported turnover of $ 27.21 billion in 2014, which stood at 24,782.6 kilo tones, expanding at a CAGR of 6.1 percent between 2015 and 2023, according to a Transparency Market Research report. Monoethylene glycol is produced from ethylene, a downstream product of crude oil and natural gas.
