Global consumption of monoethylene glycol (MEG), an essential raw material for polyester fibres and polyethylene terephthalate (PET) polymer, is estimated to reach 31337 thousand tons by 2020, according to a new report.
In 2013, worldwide MEG consumption was estimated to be 20481 thousand tons, which is likely to increase by around 53.01 percent to 31337 thousand tons by 2020, states the report "Global Polyester Value Chain Market Analysis & Forecast, 2014-2020" published by Fibre2fashion.com.
The total import of MEG in the world increased from 7835.00 thousand tons in 2004 to an estimated 15033.01 thousand tons in 2013, showing a whopping increase of around 91.87 percent. The MEG imports registered CAGR of 6.73 percent during 2004–2013 period.
At present, China is the top importer of MEG, followed by the United States, India, and the European Union. These four nations/regions collectively account for around 73.05 percent of total MEG imports in the world.
Apart from consumption and import of MEG, the report also covers in-depth information and trends on world's production, consumption, exports and imports of various materials in the polyester value chain.
Click here to know more about "Global Polyester Value Chain Market Analysis & Forecast 2014-2020".
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