The key reasons for the growth of Glycol in China are majorly attributed to the usage of polyester fibres for coated fabrics, seat belts, conveyor belt fabrics in the automotive industry. The demand for ethylene glycol is escalating due to its usage in polyester fibres. The country has the presence of large and small key players thus, there is stiff competition between the players in the market. The demand for Glycol is projected to mushroom from the downstream applications and textile industries. Fabrics made using polyester are widely used in home furnishings, apparel, blankets, computer mouse pads, bed sheets, and upholstered furniture.
According to MarkNtel Advisors’ research report “China Glycol Market Analysis, 2020”, the China Glycol Market is anticipated to grow at a substantial CAGR during 2020-25. A snowballing demand for PET resin from the food and beverage industry for the manufacturing of water bottles and food containers is positively fuelling the growth of the ethylene glycol market in China. Moreover, the spurring demand for antifreeze agents is also accentuating the growth in the market. Ethylene glycol is used as antifreeze in the automotive industry. Furthermore, ethylene glycol is used in medical sterilization and as a heat transfer agent and coolant in geothermal pumps and air conditioning systems.
“China Glycol Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Glycol providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Enlarging Manufacturing by Using Coal
China uses conventional processes for the production of glycol. Manufacturers are transitioning their focus from conventional petrochemical routes to coal. The country is expected to commercialize its coal-based manufacturing processes in the coming years across all projects. Several manufacturers in the country produce Glycol using syngas, a mixture of oxygen, hydrogen, and carbon monoxide. Thus, this is projected to foster the growth of China glycol market during 2020-25 as revealed by the MarkNtel Advisors’ research report “China Glycol Market Analysis, 2020”.
According to MarkNtel Advisors’, the key players with a considerable market share in the China Glycol market include Dalian Shide Group, Sinopec, Quingdao Petrochemical, Taizhaou Petrochemical, China National Petroleum Corporation (CNPC), Fujian refining & Petroleum Co., Hebei Qilong Chemicals Co. Ltd., Jiangsu Tianyin Chemical Co. Ltd., Royal Dutch Shell, Anhui XinYuan Chemical Co. Ltd., etc.
Market Segmentation:
Key questions answered in the study