Ethylene Oxide and Ethylene Glycol Market Analysis: Anticipated Growth and Development (2022-2032)
Ethylene Oxide and Ethylene Glycol Market
Ethylene Oxide and Ethylene Glycol Market: Size & Share by (By Product, By Application, By End Use Industry and Region) and Forecast Year 2023-2032.
Ethylene Oxide and Ethylene Glycol Market + Report Scope (by Share & Size)
The global ethylene oxide and ethylene glycol market is expected to grow significantly in the forecast period of 2023 to 2032. The KD Market Research analyses that the market is likely to grow with a CAGR of 5.8% during the forecast period of 2023 to 2032 and is expected to reach USD 90.8 Billion by 2032. The increasing application in the textile sector is a major factor driving the market growth for the ethylene oxide and ethylene glycol market. Global Ethylene Oxide and Ethylene Glycol Market is segmented by Product into Ethylene Oxide, Ethylene Glycol; by Application into Polyester Fibers, PET Resins, Antifreeze, Brake Fluid, Surfactants, Automotive Coolants, Plastics, and Others; by End Use Industry into Automotive, Medical, Food & Beverage, Textile, Cosmetic and Personal Care, Agriculture, Chemical, and Others; and by Region into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
Ethylene Oxide and Ethylene Glycol Market Definition & Overview
Ethylene oxide is produced from ethylene. Ethylene is produced from petrochemical-based raw materials which is obtained from the distillation of crude oil.
The KD Market Research team has developed a comprehensive market research report on a global basis on the ethylene oxide and ethylene glycol market, with a focus on identifying the market trends and drivers, key companies, constraints and challenges, competitive landscape, customer insights, future outlook, and regulatory environment business owners face. The research report includes market segmentation types and future outlook, a regional perspective, and an analysis of recent ethylene oxide and ethylene glycol market developments.
Moreover, it provides detailed information on the base year and forecast year market size, global and regional market share, industry developments, and customer insights, as well as SWOT analysis, Porter's five forces analysis, PESTEL analysis, heat map analysis, market forecast, and major key players operating in the ethylene oxide and ethylene glycol market.
Ethylene Oxide and Ethylene Glycol Market Insights
|
Report Metric |
Report Details |
|
Forecast Year |
2023-2032 |
|
Base Year |
2022 |
|
CAGR |
5.8% |
|
Base Year Market Size |
51.7 Bn |
|
Forecast Year Market Size |
90.8 Bn |
|
Segmentation |
By Type, By Application, By Product and Region |
|
Growth Drivers |
|
|
Regions Covered |
North America Europe Asia-Pacific South America Middle East and Africa |
Ethylene Oxide and Ethylene Glycol Market Dynamics Growth Drivers and Challenges
Ethylene Oxide and Ethylene Glycol Market Opportunities that Trigger Market Growth
- Increasing application in the textile sector
The textile industry demand for polyester fiber which is manufactured using ethylene oxide. Consumer preferences for a better lifestyle are increasing the demand for various applications used by them such as seat belts, coated fabrics and others. This has increased the growth of the ethylene oxide market.
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- Increasing demand in the automotive sector
Ethylene oxide in used in automotive fluids. Ethylene oxide and ethylene glycol are also used in various applications of the automotive industry such as coolants, brake fluids, and others. Hence, there is a high demand in the automotive sector for ethylene oxide and ethylene glycol which is driving their market demand.
- Growing demand for PET bottles
The market is driven by the growing demand for PET bottles in the ethylene oxide market. Ethylene oxide is used for making PET bottles. The demand for packed food and beverages is preferred by the consumers which is indirectly increasing the market growth. This is because the consumers are more conscious regarding health and therefore, there is a rising demand for PET bottles increasing the ethylene market demand.
Ethylene Oxide and Ethylene Glycol Market Hurdles and Challenges
- Toxicity of ethylene oxide & ethylene glycol
There is a high level of toxicity content present in ethylene oxide and ethylene glycol which is hindering the market growth. In addition, ethylene glycol may lead to several health problems which is also challenging for the ethylene oxide and ethylene glycol market.
Ethylene Oxide and Ethylene Glycol Market Segmentation, Division, and Categorization
- By Product: Ethylene Oxide (Ethylene Carbonate, Ethanolamines, Glycol Ethers, and Others) and Ethylene Glycol (Mono-ethylene Glycol, Tri-ethylene Glycol, Diethylene Glycol Others, Polyethylene Terephthalate, and Others)
- By Application: Polyester Fibers, PET Resins, Antifreeze, Brake Fluid, Surfactants, Automotive Coolants, Plastics, and Others
- By End Use Industry: Automotive (Passenger Vehicle and Commercial Vehicle), Medical (Surface Disinfectant, Plastic Syringes, and Others), Food & Beverage (Beverage Containers, Food Packaging, and Others), Textile, Cosmetic and Personal Care, Agriculture, Chemical, and Others
- By Geography: North America, Europe, Asia-Pacific, South America, Middle East and Africa
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Ethylene Oxide and Ethylene Glycol Market Industry Developments
There have been various developments in the ethylene oxide and ethylene glycol market industry with new launches, acquisitions, and start-ups. ExxonMobil and SABIC have announced a start-up named Gulf Coast Growth Ventures in January, 2022. The newly launched facility has been in a great success within a year.
A joint venture has taken place between India Glycols Limited and Clariant AG which was successfully launched in July, 2021. The venture took place in the name of Clariant IGL Speciality Chemicals Private Limited.
The Indorama Ventures Public Company acquired Huntsman Corporation in January 2020.
A new joint venture has been announced by BASF SE and China Petrochemical Corporation for their expansion which is increasing the capacities of downstream chemicals.
Ethylene Oxide and Ethylene Glycol Market Key Featured Companies
- BASF
- AkzoNobel
- Ineos
- Dow Chemical
- SABIC
- Shell Group
- Sinopec
- Formosa Plastics Group
- Reliance Industries Ltd.
- Huntsman Corporation
- Others
Ethylene Oxide and Ethylene Glycol Market Regional Analysis
The Asia-Pacific region is the fastest-growing region in the ethylene oxide and ethylene glycol market. The market is driven by the growing demand in various industries such as automotive, textile, and others. The increase in demand for polyester fibers from the textile industries is increasing the demand for ethylene oxide and ethylene glycol market. India and China are the major markets. The North America market is also rising significantly with the increase in demand for packaging items in the region. There is availability of a large number of working professionals in the region which is making it easier to manufacture packaging items. Europe is also experiencing healthy growth of the ethylene oxide and ethylene glycol market. The market is driven by the textile sector in the region. The rise in demand for the plastic and packaging industry in the Middle East & African market is driving the market demand for ethylene oxide in the region.
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- Publication date: 19th September 2023
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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