The global ethylene oxide market size was valued USD 29.9 million in 2020 and is anticipated to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed Increasing demand for personal care and household commodities.
Ethylene oxide is mostly generated by oxidation reaction with ethylene. Ethylene is generally made from petroleum raw materials such as naptha, ethane, and propane, which are derived from processing of petroleum products. Ethylene oxide, commonly known as oxirane, is a type of organic chemical. It has a sweet odor and is colorless and combustible.
Ethylene oxide is manufactured industrially by oxidizing ethylene in the presence of a metal catalyst. Ethylene oxide is currently widely employed in the chemical processing and healthcare industries in emerging countries. However, the COVID-19 outbreak had a negative influence on the market in 2020 owing to closedown of offline retail stores in many countries.
Market Trends, Drivers, Restraints and Opportunities
- The worldwide ethylene oxide market is expanding due to increased consumption from healthcare and automotive industries.
- High toxicity of ethylene oxide as well as the rise in health concerns are projected to hinder the global market expansion.
- Increasing R&D initiatives to make ethylene oxide consumer-friendly is projected to provide the market with prospective growth opportunities.
Scope of the Report
The report on the global ethylene oxide market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
||Ethylene Oxide Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
||Derivatives (Ethylene Glycols [Mono-ethylene Glycol (MEG), Diethylene Glycol (DEG), and Tri-ethylene Glycol (TEG)], Ethanolamine, Ethoxylates, Glycol Ethers, Polyethylene Glycol, and Others) and End-user Industries (Automotive, Agrochemicals, Food & Beverage, Textile, Personal Care, Pharmaceuticals, Detergents, and Others)
||Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|Key Players Covered in the Report
||China Petrochemical Corporation (Sinopec); SABIC; Royal Dutch Shell plc, and BASF SE
Ethylene Oxide Market Segment Insights
Ethanolamine segment is expected to grow at a rapid pace
Based on Derivatives, the global ethylene oxide market is divided into ethylene glycols, ethanolamine, ethoxylates, glycol ethers, polyethylene glycol, and others. The ethylene glycols segment is further categorized as mono-ethylene glycol (MEG), diethylene glycol (DEG), and tri-ethylene glycol (TEG), and others. The ethanolamine segment is expected to grow at a rapid pace during the forecast period owing to rising use in pharmaceutical and chemical industries.
Agrochemicals segment is projected to expand at a considerable CAGR
On the basis of end-user industries, the market is segregated into automotive, agrochemicals, food & beverage, textile, personal care, pharmaceuticals, detergents, and others. The agrochemicals segment is projected to expand at a considerable CAGR during the forecast period. Ethylene oxide is largely utilized as an intermediate in the manufacture of a wide range of industrial products. On the other hand, the food & beverage segment is anticipated to account for a major market share during the forecast period. Increasing utilization of PET in the food & beverage industry is one of the key drivers propelling the market growth.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the global ethylene oxide market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to rising demand for polyester from countries such as China and India.
Segments Covered in the Report
The global ethylene oxide market has been segmented on the basis of
- Ethylene Glycols
- Mono-ethylene Glycol (MEG)
- Diethylene Glycol (DEG)
- Tri-ethylene Glycol (TEG)
- Glycol Ethers
- Polyethylene Glycol
- Food & Beverage
- Personal Care
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- China Petrochemical Corporation (Sinopec)
- Royal Dutch Shell plc
- BASF SE
The key players competing in the global ethylene oxide market are Shiloh Industries, Inc.; Gibbs Die Casting Corporation Company; Georg Fischer; Sundaram - Clayton Limited; and Pace Industries.
Companies are engaging in partnerships, acquisitions, and mergers to expand their market share. Moreover, they’re focusing on expanding their production capacities to leverage their market position. Key players are partnering with local manufacturers and investing in R&D activities to enhance the manufacturing process to reduce the operation costs.