The analyst of the report has stated that the production capacity of ethylene glycol in Asia will reach 15.2 million metric tons by 2020, a result of an increase in demand from end-user industries. China will dominate amongst all the Asian countries once the Zheijlang Xingxing New Energy plant starts its methanol production with 1.8 MMTA production capacity annually. [Among other developments in the region, Indian Oil Corporation Limited is planning to set-up a mono-ethylene plant with a capacity of 325 KTA in Orissa, India.
Ethylene glycol is a derivative product of ethylene oxide, which is commonly used for commercial purposes. Mono-ethylene glycol (MEG) is highly used in anti-freeze, polyesters, PET, fibers, solid-state resins, and others. ethylene glycol is an integral aspect of the O&G industry, particularly when it comes to maintaining an efficiently functioning pipelines infrastructure. Often, natural gas pipelines are constructed under the sea wherein the temperature is extremely low (frequently at freezing levels) and salt water corrodes the pipes. Ethylene glycol is known for its natural antifreeze characteristics, which in turn prevents blockages from freezing temperatures and increases overall corrosion protection.
Asia Ethylene Glycol Market: Competitive Landscape
Key market players operating in the Asia ethylene glycol market are Sinopec Group, Royal Dutch Shell PLC, Reliance Industries Limited, and Indian Oil Corporation Limited. Reliance Industries Limited is extensively producing a number of petrochemicals products including polyethylene, polypropylene, polyvinyl chloride, polybutadiene rubber, yarn, polyester, and others which have helped in generating a high demand for ethylene glycol.
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