Press release
Asia’s Ethylene Glycol Market was estimated to be 16.38 MMT in terms of demand in 2017 and is expected to grow at a CAGR of 4.5% during 2018–2023
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.
China’s MEG market in terms of revenue was estimated to be $7.8 billion in 2017, and is forecasted to reach $13.6 billion, growing at a CAGR of 7.0% in 2020 due to rising consumption of polyester fibers and resins in the market. India occupies the second major market share as compared to others. As per the current trends, Indian Oil Corporation Limited is planning to start its mono-ethylene glycol plant of capacity 325 KTA, located at its Paradip refinery in Odissa, India. Also, India is projected to register the highest growth rate of 9.5% CAGR throughout the forecast period.
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.
Asia’s ethylene glycol production is mostly based upon naphtha route, but China has limited crude oil for the production of material, and it covers the market share in the market. As a result, they are recently focusing on the methods to use its coal reserves as a substitute for its crude oil based feedstock in the chemical industry.
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.
Infrastructure such as transport (pipelines, access to roads, rail and ports etc.) and storage are critical at various stages in the value chain, including the links between production and processing facilities, and between processing and final customer. These parts of the value chain are usually referred to as ‘Midstream’.
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:
Demand of MEG is rising due to increasing demand of PET resins, polyester fibers, and antifreeze applications. Escalating demand for PET containers from several commercial and industrial end use markets including packaging industry, due to better strength and impact resistance, is anticipated to certainly drive MEG market.
Prompt urbanization and fluctuating lifestyle of consumers, particularly in emerging economies like India and China is driving the packaging industry, which in turn is expected to provide push to the MEG market.
Key Players of the Asia Ethylene Glycol Market:
SINOPEC GROUP is the key player in the Asia Ethylene Glycol Market. As per the company’s statistics, domestic apparent consumption of synthetic resin and synthetic fiber increased by 8.7% and 7.0% respectively.
Asia Ethylene Glycol Market Report is Segmented as below.
Asia Ethylene Glycol Market By Type :
Monoethylene Glyco
Diethylene Glycol
Triethylene Glycol
Asia Ethylene Glycol Market By End-User:
Polyester Fibers
PET bottles/films
Antifreeze
Others
Asia Ethylene Glycol Market By Geography ( Covers 5+ Countries )
Asia Ethylene Glycol Market Entropy
Companies Cited / Interviewed
ROYAL DUTCH SHELL PLC.
RELIANCE INDUSTRIES LIMITED
INDIAN OIL CORPORATION LIMITED
Company 4
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10+
What can you expect from the report?
The Asia Ethylene Glycol Market Report is Prepared with the Main Agenda to Cover the following 20 points:
Market Size by Product Categories
Market trends
Manufacturer Landscape
Distributor Landscape
Pricing Analysis
Top 10 End user Analysis
Product Benchmarking
Product Developments
Mergers & Acquisition Analysis
Patent Analysis
Demand Analysis ( By Revenue & Volume )
Country level Analysis (10+)
Competitor Analysis
Market Shares Analysis
Value Chain Analysis
Supply Chain Analysis
Strategic Analysis
Current & Future Market Landscape Analysis
Opportunity Analysis
Revenue and Volume Analysis
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:
Mr. Venkat Reddy
Sales Manager
Email 1: sales@industryarc.com
Or Email 2: venkat@industryarc.com
Contact Sales: +1-614-588-8538 (Ext-101)
About IndustryARC:
IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
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.
IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.
IndustryARC™
4th & 5th Floor, LP Towers,
Plot No. 56, Huda Techno Enclave, Madhapur,
Hyderabad, Telangana - 500081.
Email: sales@industryarc.com
Tel: (+91) 040-48549062 / 040-48549063
US Contact: +1-614-588-8538
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Asia’s Ethylene Glycol Market was estimated to be 16.38 MMT in terms of demand in 2017 and is expected to grow at a CAGR of 4.5% during 2018–2023 here
News-ID: 1233808 • Views: …
More Releases from IndustryARC
Professional Diagnostics Market Size to Grow at a CAGR of 6.3% During the Foreca …
Professional Diagnostics Market size in 2020 is estimated to be $45 billion, growing at a CAGR of 6.3% during the forecast period 2021-2026. Professional diagnostic is the diagnostic method which are used for faster detection of various diseases such as tuberculosis, cancer, malaria, and others. The main purpose of professional diagnostics is to diagnose or monitor disease in early condition so that treatment can be started so that this diagnostic…
Body Dryer Market Size to Grow at a CAGR of 6.0% During the Forecast Period 2021 …
Body Dryer Market size was valued at $2,978 million in 2020 and is anticipated to reach $5,143 million by the end of 2026 growing at a CAGR of 6.0% during the forecast period 2021-2026. The Body Dryer industry growth rate is attributed to the rising need to reduce medication errors and development of automated systems with improved features and is likely to new opportunities. Body dryers are type of air…
India P2P Lending Market Size Forecast to Reach $10.5 Billion by 2026
The India P2P lending Market size is forecast to reach $10.5 billion by 2026, after growing at a CAGR of 21.6% during the forecast period 2021-2026. The Peer to Peer Lending Market growth is attributed to increasing transparency in P2P lending with technologies such as block chain and smart contracts being incorporated into lending platforms. The Indian Government’s enthusiastic promotion of cashless technologies has also managed to restructure the financial…
Cloud Relational Database Market Forecast to Reach $18.8 Billion by 2026
Cloud Relational Database Market is forecast to reach $18.8 billion by 2026, after growing at a CAGR of 38.4% during 2021-2026. With rise in the adoption of IoT technologies and the usage of cloud database for computing in various organizations for different applications is analyzed to boost the Cloud Relational Database Market. Moreover, the cloud databases provide the customers with improved performance, service resilience and so on, thereby enhancing the…
More Releases for Asia
Asia Private Equity Firm, Asia Private Equity Management, Asia Private Equity Se …
The private equity market in China has been rapidly growing in recent years. Private equity (PE) refers to the purchase of shares in a company that are not publicly traded on a stock exchange. PE firms typically target companies that are undervalued or in need of capital for growth, and aim to improve the company's operations and financial performance before selling it at a higher value.
https://boomingfaucet.com/
Asia Private Equity Consulting
E-mail:nolan@pandacuads.com
In China,…
South East Asia Business Jet Market And Top Key Players are Asia Corporate Jet, …
By 2022, the South East Asia Business Jet Markets estimated to reach US$ XX Mn, up from US$ XX Mn in 2016, growing at a CAGR of XX% during the forecast period. The Global Business Jet Market, currently at 21 million USD, contributes the highest share in the market and is poised to grow at the fastest rate in the future. The three broad categories of business jets are Small,…
LIXIL Asia Presents Asia Pacific Property Awards
Through its power brands GROHE and American Standard, LIXIL Asia signs a three-year deal to become the Headline Sponsor of the Asia Pacific Property Awards from 2019 until 2022.
23rd January 2019: The International Property Awards, first established in 1993, are open to residential and commercial property professionals from around the globe. They celebrate the highest levels of achievement by companies operating within the architecture, interior design, real estate and property…
PEOPLEWAVE WINS ASIA TECH PODCAST PITCHDECK ASIA 2019 AWARDS
15 January 2019, Singapore – Peoplewave, Asia’s leading data-driven HR technology company, won the Asia Tech Podcast (ATP) Pitchdeck Asia 2019 Awards, being awarded “Startup Most Likely to Succeed in 2019".
The 2019 Pitchdeck Asia Awards is an opportunity for the Asian Startup Ecosystem to shine a spotlight on some of its best startups. The awards were decided by a public vote. More than 7,200 votes were cast by registered LinkedIn…
Undersea Defence Technology Asia, UDT Asia 2011
Latest Military Diving Technologies featured in UDT Asia
Equipping Asia’s navies with the latest diving technology for asymmetric warfare and
operations
SINGAPORE, 17 October 2011 - Naval diving and underwater special operations is a field that is
seeing increased attention and investment amongst navies in Asia. Units such as the Indonesian Navy‟s KOPASKA, the Republic of Singapore Navy‟s Naval Diving Unit (NDU), the Royal Malaysian Navy‟s PASKAL are increasingly utilising specialised equipment for conducting…
Asia Diligence – Specialist Investigative Due Diligence for Asia & Beyond
Asia Diligence today announced the opening of its European Customer Services office in the United Kingdom. The office is to be managed by Steve Fowler and will focus on providing services to Asia Diligence’s European customers. Asia Diligence is also planning to open a US office in the near future, which will provide customer service to its US and North American clients.
Asked to comment on the move, Luke Palmer, the…
