20 November 2013 12:35 [Source: ICIS news]
DUBAI (ICIS)--Kuwait’s EQUATE expects global demand for monoethylene glycol (MEG) to grow by 6% year on year over the next three years, a senior company official said on Wednesday.
"We expect to experience a peak period over the next few years with the market getting tight... there have been some new capacities [coming on line] recently, but it is not enough to offset demand growth," said Eliezer Maldonado, EQUATE's senior vice-president.
The company's production facilities in Shuaiba, Kuwait, includes a 825,000 tonne/year high density polyethylene (HDPE)/linear low density polyethylene (LLDPE) swing plant and a 550,000 tonne/year MEG unit.
Demand growth for PE products, meanwhile, is expected at 4.0-4.5% annually in the next three years, according to Maldonado, who was speaking on the sidelines of the 8th GPCA Forum in Dubai.
The event began on 19 November and will end on Thursday.
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