Ethylene Oxide Market to Value at USD 49.2 billion, by 2031 with 3.7% CAGR

Expansion within the packaging sector and rise in want for antifreeze within the automotive sector

WILMINGTON, Del., Nov. 13, 2023 /PRNewswire/ — The world ethylene oxide market is projected to flourish at a CAGR of three.7% from 2023 to 2031. As per the report revealed by TMR, a valuation of US$ 49.2 billion is anticipated for the market in 2031. As of 2023, the demand for ethylene oxide is anticipated to shut at US$ 38.1 billion.

Ethylene oxide is an important uncooked materials for the manufacturing of polyester fibers. The rising demand for textiles, particularly in creating economies, was driving the necessity for ethylene oxide.

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Ethylene oxide is a key intermediate in producing numerous chemical compounds, together with ethylene glycol, surfactants, and ethanolamines. The growth of petrochemical industries, notably in areas with growing industrialization, drove the demand for ethylene oxide.

Ethylene oxide is used within the manufacturing of ethylene glycol, which, in flip, is utilized to fabricate polyethylene terephthalate (PET) resin. PET resin is broadly used for bottles, containers, and packaging movies within the packaging trade. The development of the packaging trade contributes to the demand for ethylene oxide

Ethylene glycol, derived from ethylene oxide, is used within the manufacturing of antifreeze, polyester resins, and polyester fibers. The automotive trade’s development and different manufacturing sectors contribute to the growing demand for ethylene glycol.

Ethylene oxide is an important sterilizing agent for medical tools and provides. With the growing concentrate on healthcare and stringent rules concerning sterilization, the demand for ethylene oxide within the medical sector was on the rise.

Advances in manufacturing applied sciences and processes can result in elevated effectivity and cost-effectiveness in ethylene oxide manufacturing, additional boosting market development.

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The general financial development of areas and nations contributes to elevated industrial actions, subsequently driving the demand for ethylene oxide in numerous software

Ethylene Oxide Market Report Scope:

Key Takeaways from the Market Study

• As of 2022, the ethylene oxide market was valued at US$ 36.2 billion

• By software, Monoethylene Glycol (MEG) phase to account for prime income available in the market

Ethylene Oxide Market: Key Trends and Opportunistic Frontiers

• The general financial development of areas and nations contributes to elevated industrial actions, subsequently driving the demand for ethylene oxide in numerous functions.

• With an emphasis on sustainability, there was a rising curiosity in bio-based ethylene oxide.

• Growing industrial actions contribute to the demand for ethylene oxide-derived merchandise.

• Innovations in catalyst applied sciences, course of optimization, and reactor design contribute to constantly bettering manufacturing processes.

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Ethylene Oxide Market: Regional Analysis

• The Asia-Pacific area, notably China and India, has been a major driver of the ethylene oxide market. Rapid industrialization, financial development, and a burgeoning center class have led to elevated demand for numerous ethylene oxide-derived merchandise, together with polyester fibers, plastics, and antifreeze.

• The United States has a well-established ethylene oxide market. The demand is pushed by the sturdy presence of the petrochemical trade and functions in manufacturing chemical compounds, textiles, and plastics. The medical sector’s use of ethylene oxide for sterilization additionally contributes to the market.

Competative Landscape

Companies are finishing up important R&D actions with the intention to give you enhancements in manufacturing processes. They are additionally increasing their product portfolios and fascinating in merger & acquisition actions to increase their world footprint. Such methods are anticipated to spice up the ethylene oxide market income within the close to future.

• Dow Chemical

• SABIC

• Shell Group

• Huntsman Corporation

• BASF

• Sinopec

• Reliance Industries Ltd.

Key Developments within the Ethylene Oxide Market

• Dow Chemical Company has been a major participant in producing ethylene oxide and its derivatives. The firm has a world presence and is concerned in numerous industries, together with packaging, chemical compounds, and supplies science.

• BASF is a number one chemical firm with a diversified portfolio. It is concerned in producing ethylene oxide and its derivatives to be used in numerous functions, together with plastics, chemical compounds, and textiles.

• Shell is a world power and petrochemical firm concerned in producing ethylene oxide. The firm has a various vary of services, and its actions within the petrochemical sector contribute to its function within the ethylene oxide market.

• SABIC is a serious participant within the petrochemical trade and is concerned within the manufacturing of assorted chemical compounds, together with ethylene oxide derivatives. The firm has a major presence within the Middle East and globally.

Ethylene Oxide Market Key Segments

Application

Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

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