Alkylene Oxides and Glycols Market Size Worth USD 76.98 Billion in 2032 | Emergen Research

Vancouver, Dec. 26, 2023 (GLOBE NEWSWIRE) -- The global alkylene oxides and glycols market size reached USD 48.08 Billion in 2022 and is expected to register a revenue CAGR of 4.9% during the forecast period, according to latest analysis by Emergen Research. Growing production of PET bottles is a major factor driving market revenue growth.

Growing production of Polyethylene Terephthalate (PET) bottles is driving revenue growth of the alkylene oxides and glycols market. PET bottles are widely used for packaging beverages, food, personal care products, and other consumer goods owing to their excellent properties such as durability, lightweight, transparency, and resistance to chemicals. The manufacturing process of PET bottles heavily relies on alkylene oxides and glycols, primarily ethylene oxide and ethylene glycol, which are used as key raw materials. As the demand for PET bottles continues to increase globally, especially in emerging economies and developing countries, the alkylene oxides and glycols market is experiencing substantial growth in terms of revenue.

Rising demand for PET bottles is directly translating into increasing sales and revenue growth of the alkylene oxides and glycols market as more manufacturers seek to meet the rising demand for PET bottles. The global production of Polyethylene Terephthalate (PET) surpasses 82 million metric tons. This extensive manufacturing caters to creation of single-use beverage bottles, packaging materials, clothing, and carpets. PET is a major contributor to ever-growing problem of plastic waste, as it constitutes a portion of the overall plastic waste generated worldwide. This trend is expected to continue as the demand for sustainable packaging solutions grows and the beverage and consumer goods industries continue to expand.

In addition, rising demand for detergents for hygiene purposes is a major factor driving revenue growth of the alkylene oxides and glycols market. With increasing awareness about cleanliness and personal hygiene, the demand for detergents is growing across the globe. Alkylene oxides, such as ethylene oxide and propylene oxide, along with glycols such as ethylene glycol and propylene glycol, are crucial raw materials used in the production of various detergent formulations. These chemicals play a vital role in enhancing cleaning efficiency of detergents and performance by providing surfactant and solubility properties.

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However, revenue growth of the alkylene oxides and glycols market is being restrained by competition from alternative products. As industries and consumers increasingly focus on sustainability and environmental impact, there is a rising demand for alternatives to alkylene oxides and glycols. For example, bio-based or plant-derived chemicals are gaining popularity as more environmentally friendly options. The availability of these alternatives poses a challenge to revenue growth of the alkylene oxides and glycols market. 

Scope of Research

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Major Companies and Competitive Landscape

The global alkylene oxides and glycols market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective alkylene oxides and glycols. Some of the major companies included in the global alkylene oxides and glycols market report are:

• Huntsman Corporation 
• INEOS Group
• BASF SE
• Exxon Mobil Corporation
• China Petrochemical Corporation
• LyondellBasell Industries Holdings B.V.
• Dow
• Sabic
• Shell
• Reliance Industries Ltd.
• Clariant AG

Strategic Development

• On 06 June 2023, BASF is progressively commencing the operation of additional alkoxylation facilities in Antwerp, Belgium, and Ludwigshafen, Germany. This strategic investment brings notable advantages to European customers, particularly through a substantial capacity augmentation exceeding 150,000 metric tons per year. The majority of this capacity expansion is focused on expanding ethylene oxide and its derivatives at the integrated Verbund site in Antwerp, Belgium. Furthermore, alongside alkoxylation, the expansion initiative includes the establishment of a second large-scale ethylene oxide production line, incorporating purified ethylene oxide capacity.
• On 14 March 2023, LyondellBasell NV announced that it is actively considering various strategic alternatives for its Ethylene Oxide and Derivatives (EO&D) business located in the U.S. Gulf Coast. By aligning its operations with the interests of ESG-focused investors, customers, and brand owners, LyondellBasell aims to position itself as the preferred company of choice. To achieve this, the company is redefining its business practices to leverage plastic waste as a valuable carbon source and developing circular and renewable materials to meet growing demands while offering sustainable solutions.

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Some Key Highlights from the Report

• The glycols type segment is expected to register a steady revenue growth rate over the forecast period. Glycols, particularly ethylene glycol and propylene glycol, have versatile applications across various industries. They are widely used as solvents, antifreeze agents, humectants, and viscosity modifiers in sectors such as automotive, pharmaceuticals, cosmetics, textiles, and food and beverage.
• The detergent segment is expected to account for a significantly large revenue share over the forecast period. Alkylene oxides, such as ethylene oxide and propylene oxide, are utilized to produce surfactants, which are major components of detergents. With the growing emphasis on cleanliness, hygiene, and laundry care, the demand for detergents is increasing, which is creating a high demand for alkylene oxides and glycols as essential ingredients in detergent manufacturing.
• On 27 July 2022, INEOS introduces a novel Bio-Attributed Ethylene Oxide that fully replaces fossil-based feedstock with renewable biomass. This Bio-Attributed Ethylene Oxide achieves complete substitution of fossil resources on a mass balance basis, as verified by RSB and ISCC+ certifications. Notably, this material surpasses conventional EO production by generating more than a 100% reduction in Greenhouse Gas emissions.

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Emergen Research has segmented the global alkylene oxides and glycols market on the basis of type, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019-2032)
  • Alkylene Type
    1. Ethylene Oxide
    2. Propylene Oxide
    3. Butylene Oxide
    4. Polyethylene Oxide
  • Glycols Type
    1. Ethylene Glycols
    2. Propylene Glycols
    3. Butylene Glycols
    4. Polyethylene Glycols
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
  • Plastics & Polymers
  • Chemical & Pharmaceutical
  • Detergents
  • Cosmetics & Personal Care
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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