Mono Ethylene Glycol Price In USA

• United States: 431 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 latest report by IMARC Group, titled "Mono Ethylene Glycol Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data," provides a thorough examination of Mono Ethylene Glycol Price Trend. This report delves into the price of Mono Ethylene Glycol globally, presenting a detailed analysis, along with informative Mono Ethylene Glycol price chart. Through comprehensive Mono Ethylene Glycol price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the Mono Ethylene Glycol demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.

Mono Ethylene Glycol Prices December 2023:

• United States: 431 USD/MT
• South Korea: 479 USD/MT
• Germany: 620 USD/MT
• Saudi Arabia: 458 USD/MT

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The study delves into the factors affecting mono ethylene glycol price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.

The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.

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Mono Ethylene Glycol Price Trend- Q4 2023

The mono ethylene glycol (MEG) market is driven by a robust demand primarily from the polyester and polyethylene terephthalate (PET) industries, where MEG is used as a crucial raw material in the production of polyester fibers, PET bottles, and packaging materials. The global surge in demand for polyester fibers, especially in the textile industry due to their cost-effectiveness, versatility, and durability, significantly propels the consumption of MEG. Environmental sustainability trends are also influencing market dynamics, as MEG is integral in manufacturing bio-PET, which offers a greener alternative to conventional PET. Furthermore, the automotive sector’s increasing use of antifreeze and coolants, which contain MEG, supports market growth amid rising vehicle production and maintenance needs.

Mono Ethylene Glycol Industry Analysis

In Q4 2023, the MEG market in North America displayed a moderate market scenario, characterized by reduced consumption from downstream packaging industries. Producers with excessive inventories resorted to selling the product at discounted prices to avoid stockpiling, thereby impacting both supply and pricing trends. However, in Mexico, MEG experienced significant changes in pricing, with a price increase in December 2023, driven by low supply and high demand. Another factor that led to potential increase in MEG prices were the surge in crude oil prices, which affected production costs.

The MEG market in the APAC region witnessed a moderate to low supply and a moderate to high demand. Pricing trends in Taiwan, India, Indonesia, and China were influenced by factors such as escalating feedstock costs, depreciation of ethylene feedstock costs, and an increase in crude oil prices impacting production costs. Specifically, South Korea’s pricing trend was influenced by a bullish market situation and low supply, leading to heightened demand and a surge in prices. There was a 2% increase in MEG prices compared to previous quarter and a notable -13% change in prices from the same quarter of the previous year.

Overall, the MEG prices saw substantial fluctuations in the last quarter due to global supply chain disruptions primarily caused by COVID-19, which led to shortages of critical raw materials like ethylene. Concurrently, crude oil price volatility further influenced ethylene costs. On the demand side, there was a resurgence in sectors like textiles and automotive, driving up MEG demand. Additionally, environmental policies advocating for recycled and bio-based PET and shifting trade policies, particularly between the U.S. and China, played significant roles in affecting market dynamics and pricing strategies.

Regional Price Analysis:

• 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

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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