With the annual capacity expansion of 915,350 tonnes/year, China's propylene glycol capacity is expected to soar by 110% year on year to 1,759,350 t/y in 2024, compared to the 145,000 t/y or 27.11% year on year rise in 2023, according to data compiled by OilChem.
2024 China Propylene Glycol Capacity Expansion (Unit: '000 t/y)
|
Region |
Capacity Expansion |
|
East China |
807.35 |
|
Central China |
68.00 |
|
Northwest China |
40.00 |
|
Total |
915.35 |
Source: OilChem
Moreover, the first quarter will see the capacity expansion of 158,000 t/y in Shandong and Jiangsu, accounting for 17.26% of the total annual proposed projects, as per OilChem survey based on the progress of proposed projects.
Source: OilChem
In tandem with the commissioning of 14 proposed projects, China's propylene glycol output will face a substantial rise of 21.7% in 2024, while its average capacity utilization rate is likely to be lowered to some extent.
Furthermore, with obvious price advantage, China's propylene glycol export will be propelled by abundant domestic supply attributed to the capacity expansion.
Written by Ariel Guo, gq@oilchem.net
Edited by Navy Liu, liuchuanjun@mysteel.com
