Asia Ethylene Glycol Market - Forecast(2021 - 2026)
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. China accounts the major share in ethylene glycol market when compared with other countries. Among the various types of ethylene glycol, monoethylene glycol was estimated to be 14.83 MMT in 2017 and is projected to rise with a CAGR of 4.7% during 2018 – 2023.The ethylene glycol market in Asia is rising due to increasing demand for PET resins and polyester fibers in packaging and textile industries. What is ethylene glycol? Ethylene glycol is an odorless, colorless, viscous alcohol-based liquid. It is widely used as a raw material in the manufacture of polyester fibers and for antifreeze formulations. The three ethylene glycols are monoethylene glycol, diethylene glycol and triethylene glycol. These glycols have similar chemical properties but different physical properties and hence vary in applications. Properties such as high boiling poi