India to dominate ethylene glycol capacity additions in Asia through 2026, forecasts GlobalData

14 Dec, 2022 India to dominate ethylene glycol capacity additions in Asia through 2026, forecasts GlobalData

Posted in Oil & Gas

India is set to register the highest ethylene glycol (EG) capacity additions in Asia, contributing about 38% of the region's capacity additions by 2026, says GlobalData, a leading data and analytics company.

GlobalData's latest report, "Ethylene Glycol (EG) Industry Installed Capacity and Capital Expenditure (CapEx) Forecast by Region and Countries including details of All Active Plants, Planned and Announced Projects, 2022-2026," reveals that India will see EG capacity additions of 8.7 million tonnes per annum (mtpa) from 10 planned and announced projects. The EG capacity additions in Asia are expected to reach 17.40 mtpa by 2026, from a total of 24 planned and announced projects.

Nivedita Roy, Oil and Gas Analyst at GlobalData, Comments: "India is expected to witness an increased demand for EG due to a significant growth in manufacturing of plastic packaging and growing need for polyester fibers."

With a capacity of 4.5 mtpa, Reliance Industries Jamnagar Ethylene Glycol (EG) Plant 2, an announced project, will be a major contributor to the country's EG capacity additions. The project is expected to commence production of EG in 2025.

Haldia Petrochemicals Cuddalore Ethylene Glycol Plant follows next with the capacity additions of 1.2 mtpa by 2026. The plant is expected to commence operations by 2025.

Reliance Industries, Haldia Petrochemicals, and Oil and Natural Gas Corp (ONGC)

are the top three companies by planned and announced capacity additions in India over the upcoming years.