Mono Ethylene Glycol (MEG) Prices: Trend and Forecast
Mono Ethylene Glycol (MEG) is a key raw material in the production of a wide range of products, including antifreeze, polyester fibers, PET bottles, and various industrial applications. As one of the most significant petrochemical products, MEG's price is influenced by various factors, including supply-demand dynamics, feedstock prices, and global economic conditions. Understanding the factors that drive MEG prices and their trends is crucial for businesses and consumers within industries reliant on this compound. Supply and Demand Factors MEG prices are primarily determined by supply and demand dynamics. On the supply side, the production of MEG is heavily dependent on the availability of feedstocks like ethylene, which is derived from crude oil and natural gas. Any fluctuations in crude oil prices can directly impact the production cost of ethylene, which in turn influences MEG prices. For instance, in times of rising oil prices, MEG production costs increase, leading to higher p...