Ethylene Glycol Prices, Trends & Forecasts | Provided by Procurement Resource
In the Asian sector, the ethylene glycol market demonstrated fluctuations in the first half of 2023. Despite efforts to stabilize after an extended slump, prices faltered once more. This period was marked by a prevailing sense of depreciation, notably in China where prices started in January and concluded the second quarter lower. The subdued market mood was influenced by sluggish demands in downstream industries. Similarly, the Indian market showed oscillations with sporadic upward shifts. In Europe, prices followed a stable but diminishing trend due to ample inventories and consistent demands. North America exhibited a comparable trajectory, collectively reflecting a subdued market sentiment.
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Definition
Ethylene glycol is a colorless, odorless organic compound widely used as an industrial solvent and antifreeze agent. It has a high boiling point and low freezing point, making it valuable for preventing the freezing of water in various applications, from automotive engines to HVAC systems, and as a raw material in chemical synthesis.
Key Details About the Ethylene Glycol Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Ethylene Glycol in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Ethylene Glycol Price Forecast, including India Ethylene Glycol price, USA Ethylene Glycol price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Ethylene Glycol Price Trend:
The industrial applications of Ethylene Glycol are diverse and multifaceted, each exerting a unique influence on its price trend:
- Automotive Sector: Ethylene Glycol plays a pivotal role in the automotive industry as the primary component in the formulation of antifreeze solutions. These solutions are essential for preventing engine freezing and overheating, ensuring optimal vehicle performance even in extreme weather conditions. Fluctuations in automotive production and demand directly impact the consumption of Ethylene Glycol, thereby affecting its price trend.
- Textile Industry: In the textile sector, Ethylene Glycol finds extensive usage in the production of polyester fibers and fabrics. Polyester, a synthetic polymer derived from Ethylene Glycol and terephthalic acid, is renowned for its durability, wrinkle resistance, and versatility. As the demand for polyester-based textiles continues to rise globally, driven by factors such as urbanization, changing consumer preferences, and technological advancements, the consumption of Ethylene Glycol follows suit, thereby influencing its price dynamics.
- Packaging Materials: Ethylene Glycol serves as a crucial component in the manufacturing of polyethylene terephthalate (PET) resin, widely used in the production of plastic bottles, containers, and packaging materials. The burgeoning demand for PET-based packaging, fueled by the food and beverage, pharmaceutical, and personal care industries, directly impacts the consumption of Ethylene Glycol. Consequently, shifts in packaging trends, recycling initiatives, and consumer preferences contribute to the volatility of Ethylene Glycol prices.
- Chemical Intermediates: Beyond its direct applications, Ethylene Glycol serves as a precursor in the synthesis of various chemical intermediates, including polyester resins, glycol ethers, and polyols. These intermediates, in turn, are utilized in diverse industrial sectors, such as coatings, adhesives, paints, and construction materials. The demand for these downstream products influences the consumption of Ethylene Glycol and, consequently, its price trajectory.
Key Players:
- ME Global
- Saudi Basic Industries Corporation (SABIC)
- China Petroleum & Chemical Corporation (Sinopec)
- Reliance Industries Limited
- Shell Global
- INEOS Capital Limited
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