Ethylene Oxide Market overview
The global Ethylene Oxide market is projected to grow from USD 32140 Million in 2022 to USD 39500 Million in 2030 at a CAGR of 3.5% in the forecast period.
Ethylene oxide is a colorless gas or liquid produced by reacting ethylene and oxygen using silver as a catalyst. It is used in the production of ethoxylates, ethanolamines, ethylene glycol, glycol ether, and others. Its application in industries of food beverages, textiles, chemicals, and cosmetics has widened its use. The global Ethylene Oxide Structure Market report by Market Research Future (MRFR) stresses on the properties of the compound and segments its applications and its growth prospects for the period of 2022 to 2030 (forecast period).
Segmentation
The global ethylene oxide market has been segmented by product.
Based on product, the market has been segmented into ethylene glycol, ethoxylates, ethanolamines, glycol ethers, polyethylene glycol, polyether polyols, and others.
Regional Analysis
The ethylene oxide market has been studied with respect to five regions—North America, Europe, Asia Pacific (APAC), Latin America, and the Middle East Africa (MEA).
APAC held the largest market share in 2017 and will dominate till the end of the forecast period. It can contribute to the global ethylene oxide market revenue due to the large scale industrialization and increasing standards of living in China, Thailand, and India. The food beverage industry with a large presence in developing economies of APAC can trigger massive market demand due to the need for packaged foods and beverages among the populace. Japan and China can be of interest to the market due to personal care products and the large market for household cleaning items.
North America is another prominent region for the market due to demand from end-use industries of personal care, cosmetics, food beverages, and pharmaceuticals. The personal care industry can drive the demand for ethylene oxide due to the need for skin care products. Europe, on the other hand, can bolster the market demand owing to healthcare and packaging sectors in the region respectively.
Latin America is bound to experience a stellar growth rate during the forecast period owing to the burgeoning personal care cosmetics industry. The large market for cosmetics for men is bound to be lucrative for the global ethylene oxide market in the coming years. Mexico and Brazil can contribute to the market growth. While MEA can exhibit a modest growth rate due to the industrialization in the region.
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Market Scope
The global ethylene oxide market is expected to accumulate revenues during the forecast period due to massive demand for ethylene glycol. Its applications in antifreeze, polyester fibers, PET resins, and others can bode well for the market. The huge packaging industry and its need for supply packaged foods and beverages in various shapes and sizes can drive the demand for PET resins, which in turn, can drive ethylene oxide demand. PET resins are used in packages to enhance its shelf life.
The immense demand for household items due to the large scale urbanization can trigger the demand for detergents, laundry softeners, and household cleaners. The expanding healthcare sector which needs to cater to the large patient volume requires ethylene oxide for the production of medical devices. Awareness among consumers can bolster the global ethylene oxide market demand further. Expansion plans by manufacturers can provide the necessary tailwinds for the market. In 2018, BASF and Clariant proposed to setup new production plants to increase its ethylene oxide capacity.
LyondellBasell Industries Holdings B.V., Akzo Nobel N.V., INEOS, BASF SE, Royal Dutch Shell plc, The Linde Group, China Petrochemical Corporation, Clariant, SABIC, Huntsman Corporation, Exxon Mobil Corporation, and DowDuPont are prominent players of the global ethylene oxide market.
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