Asia Ethylene Glycol MarketPosted by Venkatesh on September 11th, 2018 According to the new market research report by IndustryARC titled “Asia Ethylene Glycol Market: By Type (MEG, TEG and DEG), By End-User Application (Polyester Fibres, PET bottles/films, Antifreeze and Others) and By Geography - Forecast (2018-2023)”, the market is driven by the continuous strong growth in domestic demand, and supported by an external trade performance in all the countries. Asia’s ethylene glycol market in terms of demand was estimated to be 16.38 Million Metric Tons (MMT) in 2017, and is projected to reach at 21.29 MMT, growing at a CAGR of 4.5% in 2023 due to increase in demand in polyethylene terephthalate (PET) and polyester fiber industries. MEG accounts for 90% of the total ethylene glycol market. Major applications of MEG are in the production of polyester fibers and Polyethylene Terephthalate (PET). 55% of MEG is used to produce polyester fibers, and 26% of MEG is used to produce PET bottles/films. MEG type segment was estimated to be 14.83 MMT in 2017, and is projected to reach 19.56 MMT by 2023 at 4.7% CAGR. China continues to lead the market share during 2018-2023. China accounts for 65% of the total MEG market. China is the dominating country amongst all other countries. China’s MEG market in terms of volume was 10.16 MMT in 2017, and is projected to reach at 14.82 MMT, developing at a CAGR of 6.5% in 2023 due to the growing demand in downstream polyester market and falling crude oil prices. Selected / Sample Analysis done in the full Report: Chemical manufacturers had slowed down due to lower feedstock costs in establishing Asia based facilities or in cutting the production capacity in order to stabilize the market scenario. The value chain starts with the identification of suitable feedstock for the desired petrochemicals. Oilfield services include a number of auxiliary services in the E&P process, such as seismic surveys, well drilling, equipment supply or engineering projects. They form an important part of the overall oil and gas industry (and over the past years and decades have substantially gained in expertise and importance), but will not be the focus of the overview. Oil refining and gas processing are required to turn the extracted hydrocarbons into usable products. The processed products are then distributed onwards to wholesale, retail or direct industrial clients [Refining and Marketing (R&M) is also referred to as downstream oil]. Certain oil and gas products represent the principal feedstock for the petrochemicals industry, which explains the close historical and geographical links between the two. Individual companies can cover one or more activities along the value chain, implying a degree of vertical integration (integrated firms are engaged in multiple successive activities, typically E&P as well as R&M), and/or can seek to expand within a given activity, implying horizontal consolidation (business scale). To access / purchase the full report browse the link below https://industryarc.com/Report/15017/asia-ethylene-glycol-market.html Excerpts on Market Growth Factors Mentioned in the Full Report: Key Players of the Asia Ethylene Glycol Market: ROYAL DUTCH SHELL PLC. What can you expect from the report? Any other major customizations can be discussed with our team, we can provide a separate quote based on your requirements. You can drop in an e-mail to sales@industryarc.com to discuss more about our consulting services. Media Contact: About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications in a Market. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. We look forward to support the client to be able to better address their customer needs, stay ahead in the market, become the top competitor and get real-time recommendations on business strategies and deals. Contact us to find out how we can help you today. Like it? Share it!More by this author |