Monoethylene Glycol Market To Reach USD 37.8 Billion By 2032, Says DataHorizzon Research [Yahoo! Finance]
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Source: Yahoo! Finance
Fort Collins, Colorado, April 16, 2024 (GLOBE NEWSWIRE) -- The monoethylene glycol market is primarily driven by a huge demand for polyester and a focus on environmental sustainability. The increasing emphasis on environmental sustainability has opened up growth opportunities for prominent players in the monoethylene glycol (MEG) market by developing sustainable and bio-based production methods. Manufacturers are directing their efforts towards creating eco-friendly processes and utilizing renewable feedstock to produce bio-based MEG. For instance, the U.S. Department of Energy's Bioenergy Technologies Office actively supports research and development initiatives to produce bio-based chemicals, including MEG, from biomass resources. Additionally, the rising consumer preference for sustainable products and the growing emphasis on reducing carbon footprint are expected to fuel the demand for bio-based MEG, thereby creating new avenues for market players. The monoethylene glycol (
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