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SOURCE Research and Markets
DUBLIN, March 6, 2018 /PRNewswire/ --
The "Medical Ceramics Market by Type of Material (Bioinert (Zirconia, Alumina), Bioactive (Hydroxyapatite, Glass Ceramics), Bioresorbable, Piezoceramics), Application (Dental, Orthopedic, Cardiovascular) & Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The MEG market is estimated at USD 24.41 Billion in 2017 and is projected to reach USD 30.40 Billion by 2022, at a CAGR of 4.5% from 2017 to 2022.
The MEG market is expected to be driven by the increasing need for MEG in the production of PET and polyester. Polyester is mainly used in the textile end-use industry. PET application is growing in packaging end-use industry which is growing at a very high growth rate. Increasing dispensable income of the population across the world has propelled the growth of packaging end-use industry in turn fueling the growth in PET application in MEG market.
On the basis of application, MEG market has been segmented into fiber, PET, film, antifreeze & coolant and other industrial applications. Fiber is the largest application owing to its high demand in textile end-use industry. Increasing demand for synthetic fiber is encouraging the use of PET and polyester fiber thus driving the production of fiber and hence increasing the demand for MEG. Fiber is also the largest application of MEG in APAC which has the largest market share globally.
This region is the largest manufacturer as well as supplier for textile and apparel across the globe. China, India and other Asian nations are the top exporters of synthetic yarn in the world. APAC region contributes to approximately 90% of polyester production in 2012 thus contributing to global MEG demand significantly.
Antifreeze & coolant is the fastest growing application owing to its high growth in automotive and chemical end-use industries. Ethylene glycol is the most widely used coolant in APAC which is also the fastest growing market and accounted for more than 80% of the total coolant market in 2015.
Based on region, the MEG market has been segmented into APAC, North America, Europe, the Middle East & Africa, and South America. APAC is the largest and fastest growing market for MEG. China which dominates APAC has half the demand for MEG globally. China, India, and North and South Asian countries largely contribute to the demand for MEG. Textile, Packaging, Automotive and chemical industries drive the applications of MEG. The high growth in automotive and packaging industries and have propelled the growth of MEG in this region.
The key restraining factor in the MEG market is the fire and explosion hazard. Companies such as, include SABIC (Saudi Arabia), Formosa (Taiwan), Dow (US), BASF (Germany), MEGlobal (UAE), Sinopec (China), Shell (Netherlands), Reliance (India), and SIBUR (Russia) are engaged in mergers & acquisitions and investments & expansions to enhance their foothold in the market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 MEG Market, By Technology
7 MEG Market, By Application
8 MEG Market, By Region
9 Competitive Landscape
10 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/3pc9ph/medical_ceramics?w=5
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