Ethylene Glycol (EG) is an organic compound which is highly reactive and it is used as a monomer in the production of polyesters and PET (the plastic used in water and beverage bottles packaging). MEG, DEG and TEG are produced using ethylene glycols which are used in many industries. There is huge scope of applications of the Asia Ethylene Glycol Market owing to various industrial processes through 2020.
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Demand forecast of the Asia Ethylene Glycol Market:
According to the IndustryARC market research analysis report, The Asia Ethylene Glycol Market has applications such as Ethylene Glycol is primarily used as a raw material in the manufacture of polyester fibers and fabric industry, and polyethylene terephthalate resins (PET) used in bottling. A small percent is also used in other applications such as antifreeze, Dewatering agent, coolant and heat transfer agent, precursor to polymers, hydrate inhibition etc.
The main factor owing to the growth of Asia Ethylene Glycol Market is growth in usage of plastics (PET) in the food and beverages packaging sector. As per the recent trends, approximately 60% of PET consumption will come from the packaged beverages sector in 2015.
In terms of products type in the Asia Ethylene Glycol Market, Mono-ethylene glycol (MEG) is dominating the market followed by diethylene glycol (DEG) and triethylene glycol (TEG). There is high demand in the North America for these products. Ethylene price and MEG price highly depend on the stock and quality of the product available.
Segmentation and Key Players of the Asia Ethylene Glycol Market:
The Asia Ethylene Glycol Market is segmented into various categories in the IndustryARC marketing research report by type, by application and by geography.
By type: MEG, DEG, TEG and PEG
By application: Industrial, packaging, manufacturing, automotive, aerospace, oil and gas and others
By geography: China, India, Korea, Malaysia and others
The key players in the Asia Ethylene Glycol Market as mentioned in the IndustryARC market research studies are as follows:
• China Petrochemical Corporation
• NAN YA PLASTICS Corporation
• Reliance Industries Limited
• Oriental Union Chemical Corporation
• Royal Dutch Shell plc
The Asia Ethylene Glycol Market is a thriving market with many applications of the products in various industries across the globe. This market is expected to witness high growth in upcoming years owing to the rise in demand for PET bottles and other plastic products through 2020.
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