United States, Rockville MD, May 22, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Ethylene Oxide market is projected to grow at a compound annual rate (CAGR) of 4% between 2022 and 2032. The market is expected to reach US$ 47.6 Billion by the end of 2032. The demand for Ethylene Oxide is expected to rise over the forecast period and the market is projected to gain a global market size worth of US$ 32 Billion by the end of 2022.
Browse in-depth TOC on "Demand of Asia Pacific Ethylene Oxide Market"
54 Tables
114 Figures
170 Pages
Markets for ethylene oxide are anticipated to grow in response to the growing demand for PET bottles from the packaging industry. The PET bottle manufacturing industry accounts for over half of the global ethylene oxide production. The global ethylene oxide market is gaining momentum through demand from the personal healthcare and automotive industries.
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Due to heightened health consciousness, the healthcare industry has expanded significantly in the market. Increased funding and investments from public and private organizations to improve those infrastructures, in addition to the increased use of well-equipped medical devices, are expected to drive ethylene oxide demand throughout the forecast period.
What Opportunities for Expansion will Asia Pacific offer in the Future?
Growing Demand for Polyamide Fibers Spurs Ethylene Oxide Adoption
The Asia Pacific region is expected to grow at the fastest rate during the forecast period for ethylene oxide. It is predicted that the ethylene oxide industry in Asia Pacific will grow over the next few years, mainly because of the increasing demand for textiles by organizations in countries such as Japan, South Korea, India, and China.
According to our forecast, China is expected to increase at a CAGR of 3.5% through 2032. The market for ethylene oxide in the market will continue to grow in response to the increase in demand for polyester fibers in the development of textile industries in this region. Having the largest production of PET resins, this region has further contributed to the demand for ethylene oxide in the market.
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Key Segments Covered in the Europe Ethylene Oxide Industry Survey
- Ethylene Oxide Market by Application :
- Ethylene Oxide for manufacturing Ethylene Glycol
- Ethylene Oxide for manufacturing Ethoxylates
- Ethylene Oxide for manufacturing Ethanolamine
- Ethylene Oxide for manufacturing Glycol Ethers
- Ethylene Oxide for other Applications
- Ethylene Oxide Market by End Use Industry :
- Automotive
- Agrochemicals
- Food and Beverage
- Textiles
- Personal Care
- Pharmaceuticals
- Detergents
- Other End Use Industries
Competitive Landscape
Collaboration between manufacturers increases output and meets consumer demands, which increases profits and market share. Innovations in technologies and the introduction of new products will make the products more appealing to end users. Increasing production capacity can be achieved through strategic partnerships.
- In January 2022, ExxonMobil, and SABIC started operations at Gulf Coast manufacturing facilities. Packaging, construction materials, clothing, agricultural film, and automotive coolants will all be produced in the new facility. This state-of-the-art chemical plant is being built by the firn ahead of schedule and under budget by using our global project execution planning and delivery expertise while maintaining everyone's safety and health. The firm looks forward to continuing to serve as a good neighbor in the Coasta Bend as they embark on the next chapter of GCGV.
- In February 2022, Clariant announced that it has sold a 50% stake in Scientific Design Company (Scientific Design), a producer of "green" ethylene to SABIC. Clariant and SABIC joined forces in a joint venture called Scientific Design. The partnership will be finalised by the middle of this year, dependent on approvals from regulators. In addition to its SynDol catalyst, Scientific Design provides the process technology for dehydrating ethanol to ethylene.
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Key players in the Latin America Ethylene Oxide Market
- BASF SE
- China Petroleum and Chemical Corporation (Sinopec)
- Clariant
- Dow
- India Glycols Limited
- INEOS
- LOTTE Chemical CORPORATION
- LyondellBasell Industries Holdings BV
- NIPPON SHOKUBAI CO. LTD
Key Takeaways from Asia Pacific Ethylene Oxide Market Study
- With the increasing use of ethylene glycol in antifreeze formulations, the segment is predicted to grow at a CAGR of 4.6% until 2032
- By end use industry, textiles to register highest adoption, growing at a 4.7% value CAGR
- U.S to be a highly opportunistic market, expected to reach a valuation of over US$ 5 Billion in 2032
- Market demand in the U.K to reach US$ 2.1 Billion by 2032, with high sales across the automation and manufacturing industry
- A booming agrochemicals market to spell wonders for China, expected to document a CAGR of 3.5%
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