Global demand for ethylene glycol is forecast to reach 22.815 million metric tons by 2020, according to a report published by the Chemia magazine, which recommends hiking Kuwait's output of this petroleum bi-product, used in manufacturing polyester fibers and fabric.
The international demand of ethylene glycol reached 16.511 million metric tons in 2013, Chemia said in the report, recommending that the production of the bi-product should be increased to meet the mounting demand.
Chemia, published by the National Chemical and Petroleum Industries Company, said MG Global Holdings, ownership of which is shared 50-50 by the Dow Chemical Company and the National Chemical, "has had a large share in the international market of ethylene glycol recently." The report indicated that the National Chemical's profits, in the end of the past fiscal year, amounted to USD 1.2 billion.
On other issues, it indicated at conclusion of a plan for merger of the third olefins venture with the second aromatics project and Al-Zor venture, with aim of reaching optimum benefits from the three installations.