The ethylene glycol market is under pressure; oxalic acid may help break the deadlock in ethylene glycol production from coal!

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The ethylene glycol market is under pressure; oxalic acid may help break the deadlock in ethylene glycol production from coal! Author/Source: Huahua Net Coal Chemicals Date: 2020-08-30 Clicks: 107 With the successive commissioning of the 100,000-ton oxalic acid production projects by Tongliao Jinmei, Shandong Asde, and Hualu Hengsheng (the continuous crystallization equipment for oxalic acid in all three projects was designed and manufactured by Zhejiang Benuo Machinery Co., Ltd.), Jinmei plans to further expand its 100,000-ton oxalic acid production capacity in the near future. At present, the operating rate of coal-based ethylene glycol has once again dropped to a low of 30% for the year. Demand for ethylene glycol exports remains weak, and inventory levels of ethylene glycol at Chinese ports have risen to nearly 1.5 million tons, the highest level since 2014. The ethylene glycol market has been volatile since 2019, and the pandemic as well as the global economic downturn have further impacted it. Many coal chemical companies have begun to develop oxalic acid production facilities in order to enhance their resilience to risks and improve their profitability. Tongliao Jinmei’s decision to expand its oxalic acid production capacity by 100,000 tons further underscores the importance of oxalic acid in the production of ethylene glycol from coal. Hualu Hengsheng has recently achieved successful commissioning of its continuous oxalic acid crystallization equipment. This marks the third instance, following (Tongliao Jinmei and Shandong Asde), in which a 100,000-ton capacity continuous oxalic acid crystallization device manufactured by Zhejiang Benuo Machinery Co., Ltd. has been successfully commissioned from the first attempt.