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2010 is an extraordinary year for glycol manufacturers. Due to the strong growth of downstream polyester industry demand, the market has experienced a rapid recovery. However, the previously predicted ethylene glycol market will be trapped due to the double impact of the substantial expansion of production capacity in the Middle East and the sluggish market demand, causing serious air pollution to most cities. All assumptions have not been realized. In 2010, the ethylene glycol market not only rose in price, but also continued to enhance its profitability. In addition to the above optimistic market, what other major events have taken place in the domestic glycol market in 2010? The following is a summary of the major events in the ethylene glycol market in 2010

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1 The price of ethylene glycol Rose: polyester products continued to rise in the second half of the year; The downstream plants are profitable and well started. The demand for raw materials has maintained a strong momentum. Driven by various positive factors, ethylene glycol broke through the high point of 8900 yuan/ton in the year on November 8, and the East and South China markets generally increased to yuan/ton, hitting the highest point in 2010. At the same time, on November 9, the price of ethylene in Asia was 971 dollars/ton, and the price of ethylene glycol was 1180 dollars/ton. The gross profit of ethylene glycol produced by the manufacturer reached 477 dollars/ton, the highest in the whole year

2. New ethylene glycol units in China were put into operation in the first half of 2010: in the first half of 2010, a total of three new units were put into operation in China, namely, the 400000 T/a unit in Zhongsha Tianjin, the 200000 t/a unit in Panjin, Liaoning, and the 550000 t/a ethylene glycol unit in Zhenhai Refining and Chemical Co., Ltd. The ethylene glycol unit of Zhenhai Refining and Chemical Co., Ltd. was successfully put into operation for the first time in mid April, but it was shut down due to the failure of the ethylene unit. It was successfully started up again on June 16

3. Liaoning Panjin Ethylene Glycol Plant was successfully put into operation, and the prefix monopoly position in domestic ethylene glycol plant was broken. In March2010, with the formal commissioning of the 200000 ton ethylene glycol plant in Panjin north, the monopoly of ethylene glycol production in China was broken by the "Chinese" prefix enterprises. Most of the units to be put into construction in the future are coal to ethylene glycol process lines. There is still room for growth in the capacity of ethylene glycol production in China beyond the "medium" prefix

4. A small upsurge in the construction of coal to ethylene glycol plant has been set off. Although China's first coal to ethylene glycol unit was completed in 2009, due to insufficient cooling capacity of the overhead air cooler of the deasterification tower of the ethylene glycol distillation unit, and the mismatch between the oxalic acid packaging line and the production capacity, the unit is still mainly commissioned and started intermittently this year. However, due to the situation that China is rich in coal and poor in oil, China's ethylene glycol units put into operation in the later stage began to explore the coal chemical process. Among the units to be put into operation in the later stage, except that Sichuan ethylene 360000 ton ethylene glycol unit adopts the petroleum process, Hualu Hengsheng, Henan coal industry, Inner Mongolia Boyuan, etc. all use coal to ethylene glycol

5. There were two fires in Formosa Plastics ethylene in July, and the price of ethylene goods in Asia was tight and high: on July 7, Formosa Plastics ethylene No. 1 unit was on fire. Not long after that, on July 25, Formosa Plastics' 540000 barrels per day crude oil distillation unit in Mailiao caught fire and shut down. After the accident, it was rumored that Formosa Plastics' devices would probably be banned by the official government to shut down their accident devices for inspection. In addition, local people also held demonstrations, strongly demanding that Formosa Plastics immediately stop production. The problem of excess supply in the Asian ethylene market has been alleviated to a certain extent. The tight situation of spot supply has emerged, and the market rebounded in the second half of the year

6. Enhanced financial attributes of ethylene glycol: due to the current global excess supply of ethylene glycol, loose supply and demand has become the main tone of the market. In 2010, the ethylene glycol market was not affected by supply and demand. The competition in the ethylene glycol gold market was intensified and the financial attribute was enhanced. The volatility following the commodity futures and stock market was significantly increased compared with previous years

from the above, it is not difficult to see that both the price rise and the commissioning of the unit have had a favorable impact on the development of ethylene glycol. Although the two fires of Formosa Plastics ethylene in July have slightly hindered the market, the market tension has been eased and the market has rebounded in the second half of the year. It is expected that the ethylene glycol market will continue to develop in a good trend in 2011

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