Mono Ethylene Glycol Price Trend

Mono Ethylene Glycol Prices June 2024

The mono ethylene glycol prices in the United States for Q2 2024 reached 435 USD/MT in June. The market showed notable price movements owing to several crucial factors. Although seasonal demand impacts were minimal, the balance between supply and demand maintained price stability. Challenges like global shipping issues did not greatly disturb the market’s resilience. Year-on-year, prices declined considerably, but quarterly drops were modest, reflecting a consistent downward yet stable trend.

The price trend for mono ethylene glycol in South Korea for Q2 2024 settled at 520 USD/MT in June. Despite fluctuations, stability was maintained, supported by balanced supply chain strategies and steady demand from sectors like textiles and PET. Seasonal patterns influenced prices slightly, but overall, the market experienced minimal changes between the first and second halves of the quarter, showcasing a controlled environment.

In Germany, the mono ethylene glycol prices for Q2 2024 reached 650 USD/MT in June. The market experienced notable price increases. Rising costs of feedstocks and planned plant maintenance contributed to these changes. Seasonal demand added to the upward pricing trend, while external factors like crude oil price shifts and geopolitical issues played a role. Despite these pressures, need from downstream industries helped sustain the market's positive momentum.

In Saudi Arabia, the mono ethylene glycol prices for Q2 2024 reached 530 USD/MT in June. The market saw strong price increases due to a combination of geopolitical influences and peak seasonal consumption. Supply chain disruptions impacted shipments, leading to increased prices. Festive demand and OPEC+'s decision to extend crude oil production cuts contributed to this trend, creating an environment marked by rising prices and strategic adjustments.

In Brazil, the mono ethylene glycol prices for Q2 2024 reached 540 USD/MT in June. The market faced varied trends, starting with price declines due to high stock levels and competitive imports. By the latter half of the quarter, the market stabilized, supported by a balanced supply-demand dynamic. Consistent feedstock costs and controlled logistics helped maintain this steady pricing trend, reflecting resilience amid mixed conditions.

Mono Ethylene Glycol Prices December 2023

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.

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, price forecast 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 mono ethylene glycol price trend.

Global Mono Ethylene Glycol Price

The report offers a holistic view of the global mono ethylene glycol pricing trends in the form of mono ethylene glycol price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of mono ethylene glycol but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed mono ethylene glycol demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Mono Ethylene Glycol Price

Q2 2024:

The European mono ethylene glycol market in the second quarter of 2024 experienced major upward momentum. Rising costs of raw materials, particularly ethylene oxide, combined with scheduled maintenance and unforeseen operational challenges, restricted supply. These factors, alongside geopolitical uncertainties and fluctuating crude oil prices, contributed to increased production costs. Germany saw pronounced price variations driven by seasonal demand shifts and ongoing regional price trends. Despite mixed demand from downstream industries like PET, prices were bolstered due to tight supply. Compared to earlier periods, the market showed a steady rise in prices, indicating resilience amid improving economic conditions. This positive market sentiment was reinforced by a stable supply-demand balance and consistent downstream consumption.

Q4 2023:

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.

North America Mono Ethylene Glycol Price

Q2 2024:

Throughout the last quarter of 2024, the North American market experienced fluctuations. Prices surged initially due to higher costs of ammonia, a crucial raw material, impacting manufacturing expenses. The domestic Mono Ethylene Glycol demand was strong, specifically with the approach of the winter planting season, pushing prices up. Yet, challenges such as reduced availability in the local market and intensified global demand, especially from Indian markets due to reduced Chinese fertilizer exports, also influenced the market. Despite this, prices dropped later in the quarter due to an excess supply and decreased demand, exacerbated by logistical issues at the Panama Canal and alternative routing via the Suez Canal to avoid potential threats.

Q4 2023:

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 mono ethylene glycol historical data within the United States and Canada can also be provided.

Middle East and Africa Mono Ethylene Glycol Price

Q2 2024:

In the Middle East and Africa (MEA), the mono ethylene glycol market in Q2 2024 was marked by a pronounced increase in prices. Key contributors to this trend included complications in oceanic logistics stemming from geopolitical tensions and port congestion at major Asian ports, resulting in higher shipping expenses and prompting price adjustments. The extension of crude oil production cuts by OPEC+ further tightened the market, influencing MEG pricing indirectly. Saudi Arabia saw the most notable cost shifts, driven by summer requirement peaks and increased consumption in the PET sector, compounded by seasonal festivities. The market demonstrated a bullish trend throughout the quarter, supported by strategic supply measures and steady downstream consumption.

Q4 2023:

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.

Asia Pacific Mono Ethylene Glycol Price

Q2 2024:

Q2 2024 saw a relatively steady mono ethylene glycol market across the Asia Pacific region, underpinned by balanced supply and demand dynamics and consistent production. Manufacturers effectively managed inventories, avoiding overproduction and maintaining optimal stock levels. The steady inflow of international imports also contributed to market stability, with no significant disruptions observed in supply chains. Stable ethylene prices provided additional support, insulating MEG prices from potential external economic influences. In South Korea, moderate price fluctuations occurred, but overall, the market reflected stability supported by strong need from PET and textile industries. Proactive inventory strategies by key players helped prevent substantial price volatility.

Q4 2023:

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 mono ethylene glycol price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Mono Ethylene Glycol Price

Q2 2024:

During Q2 2024, the mono ethylene glycol industry in Latin America presented mixed price trends. The first half experienced price declines owing to excessive inventory levels and lower-priced imports. Moreover, as the quarter progressed, prices stabilized, supported by balanced supply and requirement dynamics and steady production. Brazil saw significant price adjustments, with declines compared to both the previous year and quarter. Despite these decreases, the market maintained an overall positive sentiment, underpinned by stable production and sufficient inventory levels. The second half of the quarter reinforced a steady pricing environment, driven by consistent feedstock costs and reliable market operations.

Q4 2023:

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.

Mono Ethylene Glycol Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Mono Ethylene Glycol Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” 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 price of mono ethylene glycol at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of mono ethylene glycol price trend 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 19^th 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 impact the mono ethylene glycol price trend.

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.

Report Coverage

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 trend, 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. The mono ethylene glycol price charts ensure our clients remain at the forefront of the industry.