Asia is expected to lead the global ethylene glycol (EG) capacity additions with a capacity of 23.17 million tons per annum (mtpa) by 2025. China accounts for more than half of Asia’s capacity additions and it is projected to lead the global EG capacity additions by 2025, says GlobalData, a data and analytics company.
GlobalData’s report, Global Ethylene Glycol (EG) Industry Outlook to 2025 – Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants, reveals that EG capacity is poised to see considerable growth by 2025, potentially increasing from 42.09 mtpa in 2020 to 71.83 mtpa in 2025, registering a total growth of 71%.
Amareswari Kanaparthi, Oil and Gas Analyst at GlobalData, says, “China leads the capacity additions in the region with capacity additions of 12.78 mtpa by 2025. Majority of the additions will be from two planned projects Jiaxing Sanjiang Petrochemical Company Jiaxing Ethylene Glycol Plant 2 and Jiutai Energy Inner Mongolia Company Ordos Barun Gar Domda Ethylene Glycol Plant with the capacity of 1.00 mtpa each by 2022.”
GlobalData identifies India as the second highest country in terms of capacity additions with a capacity of 8.70 mtpa by 2025. Majority of the capacity additions will be from an announced project, Reliance Industries Jamnagar Ethylene Glycol (EG) Plant 2, contributing 4.50 mtpa.
Iran will be the third highest country in terms of capacity additions with the capacity of 3.00 mtpa by 2025. Majority of the capacity additions will be from two planned project Bushehr Petrochemical Company Assaluyeh Ethylene Glycol Plant and Kangan Petro Refining Tehran Ethylene Glycol Plant, with the capacity of 0.55 mtpa each by 2022.
Reliance Industries Ltd, Zhejiang Satellite Petrochemical Co Ltd and China Petrochemical Corp will be the top three companies globally in terms of planned and announced capacity additions over the outlook period.