Dublin, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The "Ethylene Oxide Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global ethylene oxide market is projected to grow at a Compound Annual Growth Rate (CAGR) of over 3% during the forecast period. The market experienced negative impacts from COVID-19 in 2020, particularly within the beauty and personal care industry. While this sector adapted to produce sanitizers and cleaning agents, a significant sales drop occurred. The demand rebounded in 2021 and is expected to grow moderately in the years ahead.
Key Highlights and Market Trends
- Factors Driving Growth:
- Growing PET Usage: Increased usage of PET in the food and beverage industry.
- Household and Personal Care Demand: Rising demand for household and personal care products in developing countries.
- Antifreeze Agent Demand: Growing need for antifreeze agents.
- Hindrances to Growth:
- Health and Environmental Concerns: Potential health and environmental effects of high exposure to ethylene oxide.
- Opportunity:
- Bio-derived Ethylene: Utilizing bio-derived ethylene for production.
- Dominance of Asia-Pacific:
- The Asia-Pacific region is poised to witness the highest market share and fastest growth during the forecast period.
Textile Industry Influence
- Ethylene oxide and its derivatives are extensively used in the textile industry for treating natural and synthetic fibers.
- Textile production powerhouses like India, China, and the United States contribute significantly to the market.
- China's dominance in textile manufacturing and apparel exports drives ethylene oxide demand.
- Initiatives like the Center of Excellence for Khadi (CoEK) in India and China's growing textile industry further boost the market.
Asia-Pacific as a Market Powerhouse
- The Asia-Pacific region, led by China, holds the current dominance in the global ethylene oxide market.
- Asia-Pacific is a major producer and consumer of surfactants, textiles, and cosmetics.
- China's textile industry and clothing exports are substantial contributors to ethylene oxide demand.
- The region's growing automotive manufacturing and initiatives supporting artisans contribute to market growth.
Competitor Landscape
- The ethylene oxide market displays partial consolidation.
- Key players include Shell plc, China Petrochemical Corporation, Dow, SABIC, and BASF SE.
The future of the ethylene oxide market hinges on factors like the growing textile industry, the rise of bio-derived ethylene, and the ongoing economic recovery from the COVID-19 pandemic. Asia-Pacific is expected to maintain its dominance, propelled by its robust industries and market initiatives.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Usage of PET in the Food and Beverage Industry
4.1.2 Increasing Demand for Household and Personal Care Products in the Developing Countries
4.2 Restraints
4.2.1 Health and Environmental Effects over High Exposure
4.3 Industry Value Chain Analysis
4.4 Porter Five Forces
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market Size in Volume)
5.1 Derivative
5.1.1 Ethylene Glycols
5.1.1.1 Monoethylene Glycol (MEG)
5.1.1.2 Diethylene Glycol (DEG)
5.1.1.3 Triethylene Glycol (TEG)
5.1.2 Ethoxylates
5.1.3 Ethanolamines
5.1.4 Glycol Ethers
5.1.5 Polyethylene Glycol
5.1.6 Other Derivatives
5.2 End-user Industry
5.2.1 Automotive
5.2.2 Agrochemicals
5.2.3 Food and Beverage
5.2.4 Textile
5.2.5 Personal Care
5.2.6 Pharmaceuticals
5.2.7 Detergents
5.2.8 Other End-user Industries
5.3 Geography
5.3.1 Asia-Pacific
5.3.2 North America
5.3.3 Europe
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 China Petrochemical Corporation
6.4.3 Clariant
6.4.4 Dow
6.4.5 India Glycols Limited
6.4.6 INEOS
6.4.7 LOTTE Chemical Corporation
6.4.8 LyondellBasell Industries Holdings B.V.
6.4.9 NIPPON SHOKUBAI Co. Ltd.
6.4.10 Reliance Industries Limited.
6.4.11 Shell plc
6.4.12 SABIC
6.4.13 Sasol
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Usage of Bio-derived Ethylene over Petro-based Ethylene for Production
For more information about this report visit https://www.researchandmarkets.com/r/6w9t9t
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Attachments
- Ethylene Oxide Market Textile Production In Billion Meters China January 2022 October 2022
- Ethylene Oxide Market Ethylene Oxide Market Growth Rate By Region 2022 2027
