Ethylene Glycol Industry Capacity and Capital Expenditure Forecasts with Details of All Active and Planned Plants to 2028
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Ethylene Glycol Industry Capacity & CapEx Overview
The Ethylene Glycol industry capacity was 60.06 million tonnes per annum (mtpa) in 2023 and it is expected to increase at an AAGR of more than 5% during 2023-2028. Around 40 planned and announced plants are slated to come online by 2028, primarily in Asia and the Middle East. This will boost the market growth during the forecast years.
Ethylene Glycol Industry Capacity and CapEx Outlook, 2023-2028 (mtpa)
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Asia leads the capacity additions in the upcoming years. Asia has 22 planned and announced plants, of which India has eight with a total capacity of more than 8 mtpa by 2028. Capital expenditure (capex) for these plants in India is estimated to be more than $5 billion by 2028. Reliance Industries Ltd is the top company accounting for the major capacity addition in India.
In Middle East, the majority of capacity additions are in Iran, with planned and announced capacity additions of about 3 mtpa by 2028. The National Petrochemical Co is the top company accounting for the major capacity additions in Iran. In addition, in Africa, the capacity additions are in Egypt, with significant announced capacity by 2028. Egyptian Petrochemicals Holding Co is the company accounting for capacity additions in Egypt.
Market Capacity 2023 | 60.06 Mtpa |
AAGR (2023-2028) | >5% |
Historical Period | 2018-2023 |
Forecast Period | 2024-2028 |
Key Regions | · Asia
· Europe · North America · Middle East · Former Soviet Union (FSU) · Africa |
Key Countries | · China
· Saudi Arabia · The US · Taiwan · India |
Major Upcoming Projects | · Reliance Industries Jamnagar Ethylene Glycol (EG) Plant 2
· Haldia Petrochemicals Cuddalore Ethylene Glycol Plant · Tangshan Xu Yang Petrochemical Tangshan Ethylene Glycol Plant · Zhejiang Petrochemical Daishan Ethylene Glycol Plant 3 · Haldia Petrochemicals Kakinada Ethylene Glycol Plant |
Leading Companies | · Saudi Basic Industries Corp
· China Petrochemical Corp · Formosa Plastics Group · Shell plc · Dow Chemical Co · Lotte Chemical Corp |
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Ethylene Glycol Industry Capacity Contribution by Region
The key Ethylene Glycol capacity contributing regions include Asia, Europe, North America, the Middle East, Africa, and the Former Soviet Union (FSU) among others. Asia accounted for the highest share of the global Ethylene Glycol capacity in 2023, followed by the Middle East. The high growth of the Ethylene Glycol Market in Asia can be attributed to the rapid urbanization, that leads to the surging demand for Ethylene Glycol in end-user industries.
Ethylene Glycol Industry Market Analysis by Regions, 2023 (%)
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Ethylene Glycol Industry Capacity Contribution by Countries
In 2023, China, Saudi Arabia, the US, Taiwan, and India are the key countries in the world accounting for over 77% of the total Ethylene Glycol capacity. China led with the largest capacity contribution globally in 2023, followed by Saudi Arabia.
Additionally, India leads with the largest capacity additions from planned and announced projects. The large capacity additions in India are attributed to the thriving automobile, pharmaceuticals, food, and packaging industries.
Ethylene Glycol Industry Market Analysis by Countries, 2023 (%)
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Ethylene Glycol Industry Market - Competitive Landscape
A few of the key companies in the global Ethylene Glycol industry are Saudi Basic Industries Corp, China Petrochemical Corp, Formosa Plastics Group, Shell plc, Dow Chemical Co, and Lotte Chemical Corp among others. Saudi Basic Industries Corp had the largest capacity in 2023. The major capacity contribution was from the Saudi Kayan Petrochemical Company Al-Jubail Ethylene Glycol Plant.
Ethylene Glycol Industry Market Analysis by Companies, 2023 (%)
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Key Segments Covered in the Report
Ethylene Glycol Industry Capacity Contribution Regional Outlook (Capacity, mtpa, 2018-2028)
- Asia
- Europe
- North America
- Middle East
- Former Soviet Union (FSU)
- Africa
Ethylene Glycol Industry Capacity Contribution Country Outlook (Capacity, mtpa, 2018-2028)
- China
- Saudi Arabia
- The US
- Taiwan
- India
Scope
The report provides:
- In-depth analysis of global Ethylene Glycol capacity outlook by region.
- Information on global Ethylene Glycol outlook by country.
- Details on Ethylene Glycol planned and announced project details.
- Capacity share of the major Ethylene Glycol producers globally.
- Insights on global Ethylene Glycol capital expenditure outlook by region.
- Global Ethylene Glycol capital expenditure outlook by country.
Reasons to Buy
- Obtain the most up-to-date information available on all active, planned, and announced Ethylene Glycol plants globally.
- Identify opportunities in the global Ethylene Glycol industry by analyzing upcoming projects and their capital expenditure outlook.
- Facilitate decision-making based on strong historical and forecast Ethylene Glycol capacity data.
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Frequently asked questions
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What was the total Ethylene Glycol industry capacity in 2023?
The Ethylene Glycol industry capacity was 60.06 mtpa in 2023.
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What will the Ethylene Glycol industry capacity estimated growth rate be during the forecast period?
Ethylene Glycol industry capacity is expected to increase at an AAGR of more than 5% during 2023-2028.
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Which region had the highest Ethylene Glycol industry capacity contribution in 2023?
Asia was the highest Ethylene Glycol capacity contributor in 2023.
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Which country accounted for the highest capacity contribution in the Ethylene Glycol market in 2023?
China accounted for the highest capacity contribution in the Ethylene Glycol market in 2023.
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Which are the leading companies in the Ethylene Glycol industry?
A few of the key companies in the global Ethylene Glycol industry are Saudi Basic Industries Corp, China Petrochemical Corp, Formosa Plastics Group, Shell plc, Dow Chemical Co, and Lotte Chemical Corp among others.
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