Richmond, Feb. 20, 2024 (GLOBE NEWSWIRE) -- According to a research report "Ethylene Glycol Market”, by Product Type (Monoethylene Glycol, Diethylene Glycol, Triethylene Glycol), Process (Ethylene Oxide, Coal, Biological Route, Others), Application (Antifreeze, Film, Polyester fiber, Polyethylene Terephthalate, Others), End-user (Plastic, Transportation, Textile, Oil and gas, others) and Region - Global Forecast to 2030.
Global Ethylene Glycol Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 17.7 Billion |
| Market size value in 2030 | 25.4 Billion |
| CAGR (2023-2030) | 5.3% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Offering, Component, End User and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Ethylene Glycol Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The Global Ethylene Glycol market occupies an essential role in the contemporary industry, the largest of the olefin markets, stands as a crucial petrochemically derived monomer used as a feedstock for the production of various commercially significant chemical products, includingpolyethylene, polymers, and fibers. The main focus of this chapter is to offer a comprehensive insight into olefins, particularly ethylene production technologies, and its significance in the global market. production, providing a foundation for understanding the broader context. Following to ethylene, including its properties and importance in various applications. The different aggregation states of surfactants, including the monomer, pre-micellar aggregate, micelle, and liposomes, exhibit distinct properties regarding chemical interaction capabilities. An overview of the technology, encompassing market aspects, costs, capacity, and the global demand and supply dynamics of ethylene technology. Its contribution to product diversification and technological advancements underscores its role as a key driver of industry evolution, making it a vital component in meeting the dynamic demands of today's consumers.
Major vendors in the global Ethylene Glycol market are
- Akzo Nobel N.V
- Ashland Global Specialty Chemicals Inc
- BASF SE
- China Petrochemical Corporation (Sinopec Group)
- Dow Chemical
- Exxon Mobil Corp
- Formosa Plastics Corporation
- Huntsman Corporation
- Ineos Oxide Limited (INEOS Holdings Limited)
- Kuwait Petroleum Corporation
- LOTTE Chemical Corp.
- LyondellBasell Industries
- Reliance Industries Ltd.
- SABIC
- Shell Chemical
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Rising demand for non-ionic surfactants
One of the primary drivers for the global Ethylene Glycol market is the significant, surfactants, classified as amphiphilic molecules, are surface-active agents characterized by the coexistence of polar and a polar domain within the same compound. They can form various aggregates, such as micelles, and the concentration at which these micelles form is termed the critical micellar concentration. The various states of aggregation in surfactants, such as monomers, pre-micellar aggregates, micelles, and liposomes, display unique characteristics in terms of their chemical interaction capabilities. The presence of these diverse configurations or changes in their concentrations can alter the physicochemical properties of chemical systems involving both ionic and non-ionic surfactants. The micro heterogeneous systems formed by these surfactants have been extensively studied in literature, providing insights into various aspects related to biological tissues.
Market Dynamics
Drivers:
- Rising demand for non-ionic surfactants
- Increasing in demand for textile sector.
- Rapid expansion of automotive industry
- Growing demand for polyethylene terephthalate resin
Opportunities:
- Technological Advancements
- Easily availability of raw materials
- Rising awareness of environmental concerns
- Growing popularity for bio-based Ethylene
Growing popularity for bio-based Ethylene
The global ethylene glycol market, the production of bio ethylene through the dehydration of bioethanol presents an environmentally friendly alternative to conventional fossil-based ethylene production, reducing environmental impact. While a few industrial plants using generation bioethanol for bio ethylene production exist, they often rely on subsidies to operate. There is a lack of processes producing ethylene from bioethanol. The various ethanol and ethylene production methods, process specifications, and current technologies. In the techno-economic analysis of a bio ethylene plant is conducted using Aspen Plus and Aspen Process Economic. Considering different qualities of ethanol. The findings reveal that impurities in the ethanol feed have minimal impact on the quality of the produced polymer-grade bio ethylene. The capacity of the ethylene storage tank significantly influences the capital costs of the overall process.
North America dominates the market for Ethylene glycol.
North America stands out as the dominating region in the global Ethylene Glycol market, with the United States leading in consumption and market share. The region's dominance can be attributed to the high prevalence of pharmaceutical industry in the region has established a consistent demand for ethylene glycol in medical applications user. The U.S. market particularly benefits from a diverse consumer base with a penchant for quick and convenient options.
Asia-Pacific, and specifically India, is emerging as a key player with substantial growth potential in the Ethylene Glycol market. The swift growth of end-use sectors like textiles, transportation, and plastics and rise in disposable income and improvements in living standards. India's market is driven by a rising urban population, increasing disposable incomes, and a shift towards Westernized habits. Additionally, government initiatives promoting the food processing sector and improvements in distribution channels contribute to the market's growth.
Another noteworthy region is the Middle East and Africa, where the demand for convenient solutions is on the rise due to the oil and gas industry utilizes ethylene glycol for natural gas dehydration processes. South Africa, in particular, showcases promise as a market with high growth potential, driven by the growing investments in industrial development, coupled with the rise in the middle-class population.
The Ethylene oxide Segments is anticipated to hold the Largest Market Share during the Forecast Period
In the global Ethylene Glycol market, Ethylene oxide is a cyclic ether with a three-membered ring, consisting of one oxygen atom and two carbon atoms. It is highly reactive due to the strained ring structure, making it susceptible to reactions with various compounds. Ethylene oxide is commonly produced through the direct oxidation of ethylene using either the chlorohydrin process or the direct oxidation process. Ethylene oxide is widely used for sterilization of medical equipment and supplies due to its ability to penetrate and disinfect heat-sensitive materials. It serves as a precursor for the production of various chemicals, including ethylene glycol, which is used in the production of antifreeze and polyester fibers. Ethylene oxide is employed in the manufacturing of surfactants and emulsifying agents. Ethylene oxide is flammable and poses various health hazards. It is classified as a carcinogen, and exposure should be minimized. Safety measures, including proper ventilation and protective equipment, are crucial when handling ethylene oxide.
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