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In 2008, a global financial crisis swept the world, and the ethylene glycol market was declining. In 2009, the world economy began to pick up gradually. The domestic and the second half of the domestic ethylene glycol market can be described as clearly divided. In the first half of 2009, the ethylene glycol market was weak and sluggish. As a result, many people in the industry began to lose confidence, and everyone did not hold the market outlook. The ethylene glycol market began to suddenly force upwards in hopes. According to statistics, China's ethylene glycol imports exceeded 5.8 million tons in 2009, an increase of 12% over 2008. From 2000 to 2008, the average annual growth rate of ethylene glycol consumption in China was 18.4%. The average annual growth rate of domestic ethylene glycol supply during the same period was 12.3%. Domestic output growth was far from enough to meet the demand growth. In January-December 2010, the import volume of ethylene glycol was 6.644 million tons, and the import amount was 576,830,800 USD, with an average price of 868 USD/ton. The import volume increased by 14.00% compared with 2009, and the average price in 2009 was 605 USD/ton. The import volume of ethylene glycol in January-November 2010 did not fluctuate until the number of ethylene glycol imports began to drop significantly in December. This change may indicate that China's ethylene glycol production can meet the demand growth.
Chinese ethylene glycol production meets demand growth
Ethylene glycol is an important organic raw material and is mainly used in the production of petrochemicals and coatings. The industrial production of ethylene glycol in China began in the 1960s. Since the 1970s, with the rise of China's petrochemical industry, the production of ethylene glycol has developed rapidly. In recent years, China's polyester industry has developed rapidly. The demand for ethylene glycol has maintained a rapid growth trend, and consumption has surpassed that of the United States in the world.