Global Ethylene Oxide Market growing at a CAGR of 3.1% from 2023 to 2031
Category : Materials And Chemicals | Published Date : Sep 2023 | Type : Press Release
Key Market Overview
Consegic Business Intelligence analyzes that the ethylene oxide market is predicted to grow at a compound annual growth rate of 3.1% from 2023 to 2031 and is expected to reach USD 41,764.11 million in 2031 and 32,739.84 million in 2023 which was valued at USD 31,954.23 million in 2022.
The report highlights the growing demand for PET resins and polyester fibers across the globe, which is augmenting the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the Ethylene oxide market.
Global Ethylene Oxide Market By Overview
The ethylene oxide market is bifurcated into the application and end-user industry. Based on application, the market is segmented into ethylene glycol, acrylonitrile, ethoxylates, ethanolamine, sterilant, and others. In 2022, the ethylene glycol segment dominates in the overall ethylene oxide market. Based on the end-user industry, the market is segmented into chemical, pharmaceutical and healthcare, food & beverages, cosmetics, automotive, oil & gas, detergents, textile, and others. In 2022, the automotive segment dominate the overall ethylene oxide market.
Get Free SampleMarket Dynamics
Driver:
- Growing demand for PET resins and polyester fibers
- Increasing demand for antifreeze in the automotive industry
Restraints:
- The high toxicity of ethylene oxide and growing health concerns
Market Segmentation:
| Report Attributes | Report Details |
| By Appliances | Ethylene Glycol, Acrylonitrile, Ethoxylates, Ethanolamine, Sterilant, and Others |
| By End-user Industry | Chemical, Pharmaceutical and Healthcare, Food & Beverages, Cosmetics, Automotive, Oil & Gas, Detergents, Textile, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The market is dominated by certain major companies such as Akzo Nobel N.V., Royal Dutch Shell Plc., BASF SE, and SABIC, which have a strong market position in the current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions. Furthermore, the ethylene oxide market is expected to witness substantial growth in the coming years due to increasing innovations in bio-based ethylene oxide in key regions such as North America, Asia Pacific, and others.
The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.
- Huntsman International LLC.
- Dow
- Akzo Nobel N.V.
- India Glycols Limited
- Royal Dutch Shell Plc.
- Formosa Plastics Corporation
- BASF SE
- Indian Oil Corporation Ltd.
- LOTTE Chemical Corporation
- SABIC
- Indorama Ventures
- Clariant
