In recent years, the rapid development of the domestic polyester industry has become a major factor driving the rapid growth of ethylene glycol production and consumption. According to experts' predictions, domestic consumption of ethylene glycol will reach 4.6 million tons in 2007. Ethylene glycol is mainly used in polyester production in China, accounting for about 87% of total consumption, while other aspects such as antifreeze consumption account for about 10%. In recent years, China's polyester industry has developed rapidly. By the end of 2003, there were 103 domestic production enterprises. Among them, there are 38 large-scale enterprises, with a combined annual production capacity of 5.125 million tons, accounting for 69.63% of the total production capacity; and 65 small-scale enterprises, with a combined annual production capacity of 2.236 million tons, accounting for 30.37% of the total production capacity. Yizheng Chemical Fiber Co., Ltd. is currently the largest polyester manufacturer in China with an annual production capacity of 1.08 million tons. It is one of the top ten polyester manufacturers in the world. At present, there are five domestic production enterprises with an annual production capacity exceeding 300,000 tons, including 400,000 tons of Liaoyang Petrochemical Fiber Company, 380,000 tons of Shanghai Petrochemical Company, 321,000 tons of Tianjin Petrochemical Company, and Xianglu Polyester Spinning Fiber ( Xiamen) 300,000 tons. The annual production capacity of the above five companies accounted for 35% of the country's total production capacity. The top 10 companies have a production concentration of 48.8%. In recent years, China's polyester production and sales have been booming. From 1995 to 2003, the average annual growth rates of production and apparent consumption reached 19.37% and 18.09%, respectively. It is estimated that before 2007, the average annual growth rate of polyester in our country will be 7.5% or more. In 2007, China's total polyester demand will reach around 12 million tons, and the demand for ethylene glycol in the polyester industry will reach 4 million tons by that time. The consumption of bottled polyester is the fastest in polyester consumption. By 2007, the proportion of bottled polyester in total consumption will increase from 9% in 2000 to 13%, and the proportion of polyester for fiber will be corresponding to the current 87% dropped to 83%. Polyester production will basically meet domestic demand, but some special-purpose polyesters still need to be imported. From 2007 to 2015, the growth rate of polyester consumption in China will slow down, and the average annual growth rate will drop to about 5.6%. In 2015, domestic polyester consumption is expected to exceed 19 million tons, requiring 6.37 million tons of ethylene glycol. Coupled with consumption of antifreeze, domestic consumption of ethylene glycol will reach 4.6 million tons in 2007 and 7 million tons in 2015. This shows that China's ethylene glycol market has great potential for development.
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