Global Ethylene Oxide Market, By Application (Glycol Ethers, Acrylonitrile, Ethoxylates, Ethanolamines, Healthcare Sterilent, and Others), End-Use (Chemical Processing, Healthcare, Food and Beverages, Automotive and Others) – Industry Trends and Forecast to 2030.
Ethylene Oxide Market Analysis and Size
Spreading of the packaging industry with the increasing demand for packaged food and beverages is likely to increase the need for PET resins and growing knowledge amongst users related to plastic wastage is more likely to contribute the demand for PET resins further which in conclusion will aid in propelling the growth of the ethylene oxide market. In addition, the increasing demand for detergents, household and industrial cleaners, and laundry softeners and so forth is most likely anticipated to the growth of the ethylene oxide market at a healthy pace.
Data Bridge Market Research analyses that the ethylene oxide market which was USD 32.78 billion in 2022, will reach USD 43.73 billion by 2030, and is expected to undergo a CAGR of 3.67% during the forecast period. “ glycol ethers” dominates the application segment of the ethylene oxide market as glycol ethers are commonly used as solvents and co-solvents in various industrial applications, including those involving ethylene oxide (EO). In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Ethylene Oxide Market Scope and Segmentation
|
Report Metric
|
Details
|
|
Forecast Period
|
2023 to 2030
|
|
Base Year
|
2022
|
|
Historic Years
|
2021 (Customizable to 2015-2020)
|
|
Quantitative Units
|
Revenue in USD Billion, Volumes in Units, Pricing in USD
|
|
Segments Covered
|
Application (Glycol Ethers, Acrylonitrile, Ethoxylates, Ethanolamines, Healthcare Sterilent, and Others), End-Use (Chemical Processing, Healthcare, Food and Beverages, Automotive and Others)
|
|
Countries Covered
|
U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
|
|
Market Players Covered
|
Akzo Nobel N.V.(Netherlands), SABIC (Saudi Arabia), BASF SE (Germany), Huntsman International LLC. (U.S.), India Glycol Limited (India), Indian Oil Corporation Ltd (India), Indorama Ventures Public Company Limited (Thailand), INEOS (U.K.), KAZANORGSINTEZ (Russia), LyondellBasell Industries Holdings B.V (Netherlands)., Nippon Shokubai Co., Ltd. (Japan), among other
|
|
Market Opportunities
|
|
Market Definition
Ethylene oxide, which is also known as oxirane. Ethylene oxide is a bulk industrial chemical, and it is a colorless, flammable gas or liquid in nature. Ethylene oxide is utilized for a broad range of functions particularly in various consumer products and non-consumer chemicals and emissaries. Ethylene oxide is mainly utilized to make other chemicals for instance ethylene glycol, surface active agents, ethanolamines, glycol ethers, polyols and so forth. It is being vastly utilized as a sterilant in medical devices and devices and as a fumigant in spices. The product can be utilized in several functions for instance medical devices, cosmetics, solvents, detergents, antifreeze, textiles, and food and beverages.
Global Ethylene Oxide Market Dynamics
Drivers
- Growing Demand for Ethylene Glycol
Ethylene oxide is a key raw material for the production of ethylene glycol, which is used in a wide range of applications, including antifreeze, plastics, and textiles. The increasing demand for these products, particularly in emerging economies, drives the demand for ethylene oxide. Ethylene glycol is used in the production of polyester fibers, which are widely used in the textile industry. The demand for synthetic fibers has been increasing due to their durability, versatility, and cost-effectiveness.
- Petrochemical Industry Growth
The petrochemical industry is a significant consumer of ethylene oxide. As industrialization and urbanization continue to expand, there's a higher demand for petrochemical products, contributing to EO market growth.The petrochemical industry relies heavily on hydrocarbon feedstocks, such as crude oil and natural gas. Regions with abundant reserves of these resources, such as the Middle East and North America, have seen substantial growth in their petrochemical sectors. Ethylene glycol is typically produced from ethylene, which can be obtained from these feedstocks.
Opportunities
- Technological Advancements
Advancements in EO production technology, such as more efficient catalysts and processes, can reduce production costs and environmental impact, creating opportunities for market growth. Technological advancements have led to more efficient and environmentally friendly methods of producing ethylene glycol. For instance, the development of catalysts and advanced reactor designs has enhanced the yield and reduced the energy consumption of ethylene glycol production.
- Emerging Markets
Growing populations and industrialization in emerging markets offer significant growth potential for EO applications, particularly in industries such as textiles, automotive, and agriculture. The Asia-Pacific region, particularly China and India, has been a major driver of ethylene glycol demand. China, in particular, has seen substantial growth in its polyester fiber, PET resin, and automotive industries, all of which require ethylene glycol as a key raw material. The region's increasing urbanization and middle-class population have driven demand for textiles and consumer goods, further boosting the ethylene glycol market.
Restraints/Challenges
- Volatility in Feedstock Prices
Ethylene oxide production is heavily reliant on ethylene, which is derived from petroleum. Fluctuations in crude oil prices can impact the cost of ethylene and, consequently, the cost of EO production. Ethylene is predominantly derived from hydrocarbon feedstocks, such as ethane and naphtha, which are closely linked to crude oil prices. Fluctuations in global crude oil prices can lead to variations in the cost of feedstocks for ethylene production, affecting ethylene oxide prices.
- Health and Safety Concerns
Ethylene oxide is classified as a carcinogen by several regulatory agencies. Handling and exposure to EO can pose health risks to workers, which can lead to regulatory restrictions and increased safety measures, impacting the ease of use. Adhering to manufacturer guidelines and working with experienced HVAC professionals can provide valuable insights and ensure proper maintenance practices are followed. Also, the lack of favorable reimbursement scenarios and technology penetration in the developing economies, heavy custom duty imposed on medical devices, and lack of suitable infrastructure in low and middle income countries are projected to challenge the market in the forecast period of 2023 to 2030.
This ethylene oxide market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the ethylene oxide market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In April 2022, BASF SE and China Petrochemical Corporation announced the expansion of their Verbund site located in China operated by BASF-YPC Co., Ltd. It is a 50-50 joint venture of both companies in Nanjing. The expansion will focus on increasing the capacities of many down-stream chemicals, including ethanolamines which are the derivatives of ethylene oxide
- In January 2022, ExxonMobil and SABIC announced the successful startup of ‘Gulf Coast Growth Ventures' world-scale manufacturing facility in San Patricio County, Texas. The new facility operation includes a mono-ethylene glycol (a derivative of ethylene oxide) unit. The capacity of the plant will be 1.1 million metric tons per year
Global Ethylene Oxide Market Scope
The ethylene oxide market is segmented on the basis of application and end-use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Application
- Glycol Ethers
- Acrylonitrile
- Ethoxylates
- Ethanolamines
- Healthcare Sterilent
- Others
End-Use
- Chemical Processing
- Healthcare
- Food and Beverages
- Automotive
- Others
Global Ethylene Oxide Market Regional Analysis/Insights
The global ethylene oxide market is analysed and market size insights and trends are provided by application and end-use as referenced above.
The countries covered in the ethylene oxide market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.
Asia-Pacific dominates the ethylene oxide market due to the growing of the fast spreading industrial base and growing per capita income in advancing nations. In addition, the rising of the food and beverage industry with the growing demand for packaged beverages and food products from the young working population is one of the major factors estimated to boost the growth if the ethylene oxide market within the region.
North America is expected to witness significant growth during the forecast period of 2023 to 2030 due to the increasing need from major end-use industries for example pharmaceuticals, food and beverage, and cosmetics and personal care. Furthermore, the increasing of cosmetics and personal care industry with an upsurge in demand for skin and hair care products is anticipated to propel the growth of ethylene oxide market in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as down-stream and up-stream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape Ethylene Oxide Market Share Analysis
The ethylene oxide market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the company’s focus related to the ethylene oxide market.
Some of the major players operating in the ethylene oxide market are:
- Akzo Nobel N.V.(Netherlands)
- SABIC (Saudi Arabia)
- BASF SE (Germany)
- Huntsman International LLC. (U.S.)
- India Glycol Limited (India)
- Indian Oil Corporation Ltd (India)
- Indorama Ventures Public Company Limited (Thailand)
- INEOS (U.K.)
- KAZANORGSINTEZ (Russia)
- LyondellBasell Industries Holdings B.V (Netherlands)
- Nippon Shokubai Co., Ltd. (Japan)
SKU-