The ethylene oxide market revenue totaled US$ 30.9 Billion in 2021. Currently, the ethylene oxide market is expected to generate US$ 32 Billion by 2022, growing at a 4% CAGR between 2022 and 2032. Based on Fact.MR’s analysis, the industry has shown credible gains historically. Ethylene oxide, for instance, is used in the production of ethylene glycol, textiles, detergents, PU foam, medical drugs, bonding agents, and other products.
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.
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.
Key Takeaways from the 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%
“The multi-functional nature of ethylene oxide has rendered it highly effective as a raw material for multiple end user industries. With automotive, healthcare and textiles comprising bulk of its usage, manufacturers will find immense growth opportunities in the said industrial domains,” says a Fact.MR analyst.
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 Febraury 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.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the ethylene oxide market, presenting historical demand data (2015-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of application (ethylene glycol, ethoxylates, ethanolamines, glycol ethers and other applications), and end use industry (automotive, agrochemicals, food and beverage, textile, personal care, pharmaceuticals, detergents and other end use industries), across five major regions of the world (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the automotive industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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