According to news from Arab Trade on September 14th, global ethylene glycol (EG) production capacity will have considerable growth in the next five years, which may increase from 41.8 million tons per year in 2019 to 650,400 tons per year in 2024. Reach 56%.
GlobalData, a leading data and analysis company, said that among these regions, Asia has the largest increase in ethylene glycol production capacity. It is expected that the ethylene glycol production capacity in this region will increase from 23.1 million tons/year in 2019 to 40.08 million tons/year in 2024. , The average annual growth rate is 11%.
GlobalData stated that India is the country with the second highest capacity growth in the region, with capacity increasing from 22.2 million tons/year in 2019 to 50.7 million tons/year in 2024, with an AAGR of 16.6%.
The company's report "Global Ethylene Glycol (EG) Industry Outlook to 2024-Capacity and Capital Expenditure Forecasts, Including Details of All Operating and Planned Plants" shows that newly-built and expanded ethylene glycol production capacity in Asia It is expected to reach 16.64 million tons/year, mainly from 32 new construction and expansion projects. Among these projects, 29 are new projects and the rest are expansion projects.
Indonesia will become the country with the third highest increase in production capacity in the region. Its production capacity will increase from 2.2 million tons/year in 2019 to 9.2 million tons/year in 2024, with an AAGR of 28.9%. The main increase in production capacity will come from Lotte Chemical's Glygon ethylene glycol plant, which will have a production capacity of 7 million tons per year by 2023.
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