According to Arab Trade on September 14, global ethylene glycol (EG) production capacity will increase significantly over the next five years, possibly from 41.8 million tons per year in 2019 to 654,400 tons per year in 2024, a total increase of 56%.

According to GlobalData, a leading data and analytics firm, Ethylene glycol capacity in Asia is expected to increase from 23.1 mt/year in 2019 to 40.08 MT/year in 2024, with an average annual growth rate of 11%.

GlobalData said India had the second highest capacity growth in the region, with capacity rising from 22.2 million tonnes/year in 2019 to 50.7 million tonnes/year in 2024, with an AAGR of 16.6%.

New and expanded ETHYLENE glycol (EG) capacity in Asia is expected to reach 16.64 mMTpa, mainly from 32 new and expanded projects, according to the company's report "Global Ethylene Glycol (EG) industry Outlook to 2024 - capacity and capital expenditure projections, including details of all existing and planned plants." Of these, 29 are new projects and the rest are expansion projects.

Indonesia will be the third country in the region to see capacity increase from 2.2 million mt/year in 2019 to 9.2 million MT/year in 2024 with AAGR of 28.9%. The main increase in capacity will come from the Cheilegon Ethylene glycol plant of Lotte Chemical, which will have a capacity of 7 million tons/year by 2023.