July 21, 2020
According to the report titled, ‘China Glycol Market Analysis, 2020’, available with Market Study Report LLC, China glycol market is projected to register a CAGR of 5% over 2020-2025.
Surging demand for polyethylene terephthalate (PET) bottles from packaging industries as they are easy to handle and are lightweight serves as a major growth impetus for China glycol market. Moreover, growing inclination among major good brands towards healthier & safer food packaging solutions, coupled with growth in automotive industry will positively influence industry expansion over the forecast period.
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Based on type, China glycol market is bifurcated into ethylene glycol and propylene. The ethylene glycol segment is expected to gain considerable traction over the analysis period, owing to mounting demand for polyester fibers and polyethylene terephthalate (PET). With China leading the textile industry, the high use of ethylene glycol in textile industries for manufacturing carpets, fabrics, and upholstery will continue to sustain the segment growth.
As per the regional analysis, China glycol market is divided into North, North-East, North-West, East, South-West, and South-Central. Eastern China grabbed the largest market share in 2019 and continues to show strong growth due to high consumption ethylene glycol in Zhejiang, Anhui, and Jiangsu.
North China also attained a prominent share in 2019, supported by the Hebei province, which is a major hub for production of ethylene glycol, cites the research document.
Major players in China glycol market are SABIC, LyondellBasell, Anhui XinYuan Chemical, China National Petroleum Corporation (CNPC), Sinopec, Royal