The primary uses of ethylene glycol include the production of antifreeze, coolant, cleaning agents, polyester fibers and resins, and as a vital solvent and raw material in the chemical industry. In antifreeze, ethylene glycol lowers the freezing point of water, preventing car engines from freezing in cold weather. It is an essential raw material in the production of polyester fibers and resins, widely used in the textile, packaging, and plastics industries. Additionally, ethylene glycol is used in hydraulic brake fluid, electrolytic capacitors, paint and plastic solvents, ink, cellophane softeners, plasticizers, solvents, synthetic fibers, and wax manufacturing, demonstrating its diverse applications.
The major producers of ethylene glycol in the Asia-Pacific region and globally include China, the United States, and Saudi Arabia. These countries have strong production capacities and technical advantages. According to the publisher, China is the largest producer of ethylene glycol globally, with low production costs and high output, giving it significant competitive strength. Saudi Arabia leverages its abundant oil resources and the extension of its petrochemical industry chain to become one of the world's major ethylene glycol suppliers. The United States leads in ethylene glycol production technology and equipment, producing high-quality products and using shale gas as an alternative raw material, thus capable of exporting to global market.
As Vietnam's economy and manufacturing sector grow, the market size for ethylene glycol in Vietnam is expanding. The publisher indicates that ethylene glycol is primarily used in the chemical industry and, notably, in the textile and plastics industries, which are key economic pillars in Vietnam with extensive downstream sectors. The construction, footwear, and auto parts manufacturing industries also have significant demand for ethylene glycol.
However, due to the weak petrochemical industry foundation in Vietnam, its production capacity for ethylene glycol is limited. According to the publisher, Vietnam's ethylene glycol market heavily relies on imports. With the rapid economic development and industrialization in Vietnam, the demand for ethylene glycol is expected to increase significantly in the coming years.
The publisher data shows that in 2023, Vietnam's ethylene glycol import value reached US$ 270 million. The market demand in 2024 is even stronger, with the import value of ethylene glycol from January to May 2024 already approaching US$ 150 million.
According to the publisher, from 2021 to 2024, the main sources of Vietnam's ethylene glycol imports include Saudi Arabia, Singapore, and Taiwan. Key exporters of ethylene glycol to Vietnam are SABIC ASIA PACIFIC PTE LTD, SHELL EASTERN CHEMICALS, and NAN YA PLASTICS CORPORATION.
The main importers of ethylene glycol in Vietnam are companies in the chemical and plastics industries. The publisher analyses that the importers of ethylene glycol in Vietnam are mainly foreign-invested enterprises, including BILLION INDUSTRIAL (VIET NAM), FAR EASTERN POLYTEX (VIETNAM), and FORMOSA INDUSTRIES CORPORATION. In recent years, many Chinese chemical companies have established factories in Vietnam and imported chemical raw materials such as ethylene glycol.
Overall, with Vietnam's population growth, industrial development, and ongoing urbanization, the market size for ethylene glycol in Vietnam will continue to rise. The publisher predicts that in the coming years, Vietnam's import value of ethylene glycol is expected to maintain its growth trend.
Topics covered:
- The Import and Export of Ethylene Glycol in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Ethylene Glycol in Vietnam (2021-2024)
- Total Import Value and Percentage Change of Ethylene Glycol in Vietnam (2021-2024)
- Total Import Volume and Percentage Change of Ethylene Glycol in Vietnam (January-May 2024)
- Total Import Value and Percentage Change of Ethylene Glycol in Vietnam (January-May 2024)
- Average Import Price of Ethylene Glycol in Vietnam (2021-2024)
- Top 10 Sources of Ethylene Glycol Imports in Vietnam and Their Supply Volume
- Top 10 Suppliers in the Import Market of Ethylene Glycol in Vietnam and Their Supply Volume
- Top 10 Importers of Ethylene Glycol in Vietnam and Their Import Volume
- How to Find Distributors and End Users of Ethylene Glycol in Vietnam
- How Foreign Enterprises Enter the Ethylene Glycol Market of Vietnam
- Forecast for the Import of Ethylene Glycol in Vietnam (2024-2033)
Table of Contents
Companies Mentioned
- SABIC ASIA PACIFIC PTE LTD
- SHELL EASTERN CHEMICALS
- NAN YA PLASTICS CORPORATION
- BILLION INDUSTRIAL
- FAR EASTERN POLYTEX
- FORMOSA INDUSTRIES CORPORATION
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 80 |
| Published | August 2024 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value ( USD | $ 351 Million |
| Forecasted Market Value ( USD | $ 583 Million |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 6 |
