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Ethylene Oxide Market to Value at USD 49.2 billion, by 2031 with 3.7% CAGR | by Transparency Market Research Inc.

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Transparency Market Research

13 Nov, 2023, 15:15 GMT

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Expansion in the packaging sector and rise in need for antifreeze in the automotive sector

WILMINGTON, Del., Nov. 13, 2023 /PRNewswire/ -- The global ethylene oxide market is projected to flourish at a CAGR of 3.7% from 2023 to 2031. As per the report published 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 expected to close at US$ 38.1 billion.

Ethylene oxide is a crucial raw material for the production of polyester fibers. The growing demand for textiles, especially in developing economies, was driving the need for ethylene oxide.

Download Sample of the Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=85852 

Ethylene oxide is a key intermediate in producing various chemicals, including ethylene glycol, surfactants, and ethanolamines. The expansion of petrochemical industries, particularly in regions with increasing industrialization, drove the demand for ethylene oxide.

Ethylene oxide is used in the production of ethylene glycol, which, in turn, is utilized to manufacture polyethylene terephthalate (PET) resin. PET resin is widely used for bottles, containers, and packaging films in the packaging industry. The growth of the packaging industry contributes to the demand for ethylene oxide

Ethylene glycol, derived from ethylene oxide, is used in the production of antifreeze, polyester resins, and polyester fibers. The automotive industry's growth and other manufacturing sectors contribute to the increasing demand for ethylene glycol.

Ethylene oxide is a vital sterilizing agent for medical equipment and supplies. With the increasing focus on healthcare and stringent regulations regarding sterilization, the demand for ethylene oxide in the medical sector was on the rise.

Advances in production technologies and processes can lead to increased efficiency and cost-effectiveness in ethylene oxide production, further boosting market growth.

The overall economic growth of regions and countries contributes to increased industrial activities, subsequently driving the demand for ethylene oxide in various application

Ethylene Oxide Market Report Scope:

Report Coverage

Details 

Forecast Period 

2023-2031

Base Year 

2022

Size in 2022

US$ 36.8 Bn

Forecast (Value) in 2031

US$ 49.2 Bn

Growth Rate (CAGR)

3.7 %

No. of Pages

 

251 Pages

Segments covered

 

Application

Key Takeaways from the Market Study

  • As of 2022, the ethylene oxide market was valued at US$ 36.2 billion
  • By application, Monoethylene Glycol (MEG) segment to account for high revenue in the market

Ethylene Oxide Market: Key Trends and Opportunistic Frontiers

  • The overall economic growth of regions and countries contributes to increased industrial activities, subsequently driving the demand for ethylene oxide in various applications.
  • With an emphasis on sustainability, there has been a rising interest in bio-based ethylene oxide.
  • Growing industrial activities contribute to the demand for ethylene oxide-derived products.
  • Innovations in catalyst technologies, process optimization, and reactor design contribute to continuously improving production processes.

Have Any Query? Ask To Analyst: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=85852 

Ethylene Oxide Market: Regional Analysis

  • The Asia-Pacific region, particularly China and India, has been a significant driver of the ethylene oxide market. Rapid industrialization, economic growth, and a burgeoning middle class have led to increased demand for various ethylene oxide-derived products, including polyester fibers, plastics, and antifreeze.
  • The United States has a well-established ethylene oxide market. The demand is driven by the robust presence of the petrochemical industry and applications in manufacturing chemicals, textiles, and plastics. The medical sector's use of ethylene oxide for sterilization also contributes to the market.

Competative Landscape

Companies are carrying out significant R&D activities in order to come up with improvements in production processes. They are also expanding their product portfolios and engaging in merger & acquisition activities to extend their global footprint. Such strategies are anticipated to boost the ethylene oxide market revenue in the near future.

  • Dow Chemical
  • SABIC
  • Shell Group
  • Huntsman Corporation
  • BASF
  • Sinopec
  • Reliance Industries Ltd.

Key Developments in the Ethylene Oxide Market

  • Dow Chemical Company has been a significant player in producing ethylene oxide and its derivatives. The company has a global presence and is involved in various industries, including packaging, chemicals, and materials science.
  • BASF is a leading chemical company with a diversified portfolio. It is involved in producing ethylene oxide and its derivatives for use in various applications, including plastics, chemicals, and textiles.
  • Shell is a global energy and petrochemical company involved in producing ethylene oxide. The company has a diverse range of products and services, and its activities in the petrochemical sector contribute to its role in the ethylene oxide market.
  • SABIC is a major player in the petrochemical industry and is involved in the production of various chemicals, including ethylene oxide derivatives. The company has a significant presence in the Middle East and globally.

Ethylene Oxide Market Key Segments

Application

  • Monoethylene Glycol (MEG)
  • Ethoxylates
  • Ethanolamines
  • Diethylene and Triethylene Glycol
  • Polyols
  • Others

Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=85852&ltype=S   

More Trending Report by Transparency Market Research:

Flat Roofing Market: Flat Roofing Market is expected to surpass the value US$ 52.3 Bn by 2031, expanding at a CAGR of 5.4% during the forecast period 2022-2031

3D Printing Materials Market : 3D Printing Materials Market is expected to surpass the value of US$ 10.1 Bn by 2031, expanding at a CAGR of 20.4% during the forecast period.

Ceramic Tiles Market: Ceramic Tiles Market is expected to surpass the value of US$ 210.3 Bn by 2031, expanding at a CAGR of 8.6% during the forecast period.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com   
Blog: https://tmrblog.com   
Email: sales@transparencymarketresearch.com

Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg

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