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MEG to remain strong in 2011 on China demand

December 08/2010

(ICIS) -- Global monoethylene glycol (MEG) markets are likely to remain robust in 2011, supported by strong demand from China and a lack of new capacity additions, a top executive from MEGlobal said late on Tuesday.


This year has been a surprise for producers of MEG, a commonly used intermediate in the production of polyester fibres that go into clothes, as a widely expected industry downturn did not materialise. Prices and margins recovered throughout the year, supported by the strength in the polyester industry - especially in China.


Global MEG demand was expected to rise by around 10% to 21m tonnes by the end of this year, driven mainly by Chinese demand, which was expected to hit 9m tonnes, up from around 7m tonnes last year.


Besides demand, supply-side factors also helped producers in 2010 as operating problems constrained availability.


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