How does China's coal-to-ethylene glycol capacity reshape the global supply map?

How does China's coal-to-ethylene glycol capacity reshape the global supply map?
China now holds about 50% of global ethylene glycol capacity at 31.54 million tons, with coal-based routes contributing over 11.97 million tons—roughly 38% of domestic capacity. This shift has cut import dependence to under 30%, down from over 70% a decade ago. Coal-to-EG also links pricing to coal and methanol dynamics, creating cross-commodity correlations. However, profitability varies: oil-based production is deeply loss-making at around -241 USD/ton, while some coal units have switched to co-producing DMC or oxalic acid to improve margins. The capacity expansion wave of 2020-2022 caused severe oversupply and losses, slowing new projects. Yet, strategic coal-chemical bases in Shaanxi and Inner Mongolia continue to ramp up output, as seen in Yulin Chemical's record monthly production, reinforcing China's self-sufficiency and altering global trade flows.