The High Purity Ethylene Oxide (HPEO) market size was USD XX in 2022 and is likely to reach USD XX by 2031, expanding at a CAGR of XX% during 2023–2031. The market growth is attributed to the growing demand for High Purity Ethylene Oxide (HPEO) for various purposes in the automotive industry as well as for cosmetic and personal care products.
Ethylene oxide of high purity (99.5–99.95%) is a chemical that is used as an intermediate in the production of derivatives that provide necessary raw materials for soap and detergent components, antifreeze, cosmetics & paints, polyester fibers, drinks bottles, and soap & detergent components.
High-purity ethylene oxide is produced from ethylene by the oxidation process. It is produced from petrochemical-based raw materials, including ethane, naphtha, and propane. Ethylene and oxygen react to form the ethylene oxide and byproducts carbon dioxide and water inside the catalyst-filled tubes. It is used to produce chemicals, including antifreeze. Moreover, it is used as a pesticide and sterilizing agent.
Relatively small amounts of ethylene oxide are used as a fumigant, as a sterilant for food (spices) and cosmetics, and in-hospital sterilization of surgical equipment and plastic, devices that are difficult to sterilize by steam.
The research report finds that the COVID-19 pandemic had a positive impact on the high-purity ethylene oxide market. The effect of the pandemic creates great awareness regarding cleaning products and hand sanitization. Thus, the sale of personal care and sterilizing agents upsurged during the outbreak in developing countries.
High Purity Ethylene Oxide (HPEO) Market Dynamics
Drivers
Growing demand for High-purity Ethylene Oxide in the automotive industry is driving the market. Ethylene oxide is widely used in the automotive sector as it acts as a coolant in summer and prevents the overheating of a car engine. Increasing usage of Ethylene oxide in household products is expected to drive the market. It is widely used to make a variety of products from shampoos to disinfectants to laundry detergent.
Restraints
Long-term exposure to High Purity Ethylene Oxide in humans can cause irritation of the eyes, skin, nose, throat, and lungs, and damage to the brain and nervous system which is expected to hamper the market.
Opportunities
Rising investments by key players to make eco-friendly products from HPEO is creating lucrative opportunities for the market in the coming years. The increasing demand for high-purity ethylene oxide from the pharmaceutical and food industries is going to create new opportunities for the market.
Scope of the Report
The Global High Purity Ethylene Oxide (HPEO) Market research report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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High Purity Ethylene Oxide Market- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2020–2021
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Forecast Period
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2023–2031
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Segmentation
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By Derivative (Ethylene Glycols [Monoethylene Glycol, Diethylene Glycol, and Triethylene Glycol], Ethoxylates, Ethanolamines, Glycol Ethers, Polyethylene Glycol, and Others), By Application (Polyester Fibers, Plastic bottles, Surfactants, Antifreeze compounds, and Others), and By End Use Industry ( Pharmaceuticals, Food & Beverages, Cosmetic and Personal care, Automotive, Textile, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Shell Global; China Petroleum & Chemical Corporation; Reliance; BASF SE; Indorama Ventures Public Company Limited; NIPPON SHOKUBAI CO., LTD; and LOTTE Chemical Corporation
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High Purity Ethylene Oxide (HPEO) Market Segment Insights
Based on Derivatives, the High Purity Ethylene Oxide (HPEO) Market is divided into ethylene glycols, ethoxylates, ethanolamines, glycol ethers, polyethylene glycol, and others. The ethylene glycol segment is expected to dominate the market owing to the wide use of this industrial compound in many consumer products.
The ethylene glycol segment is further divided into monoethylene glycol, diethylene glycol, and triethylene glycol. Ethylene glycol is a clear, sweet, slightly viscous liquid that is commonly used as an automotive antifreeze. It has various applications across various industries including the automotive industry.
Ethylene glycol is used as an antifreeze and coolant as it aids in keeping the car engine warmer in the winter and helps in avoiding overheating of the car engine by acting as a coolant in summer.
On the basis of Application, the market is segmented into polyester fibers, plastic bottles, surfactants, antifreeze compounds, and others. The antifreeze compounds segment is anticipated to hold a major share of the market owing to the use of extensive use of this derivate for automotive industry usage.
The surfactants segment is expected to register a considerable CAGR in the coming years due to owing to increasing use of ethylene oxide as surfactants and emulsifiers for disinfecting and cleaning purposes. These surfactants are widely used in hospitals, hotels, cafeterias, and restaurants.
In terms of the End-use Industry, the market is divided into pharmaceuticals, food & beverages, cosmetic and personal care, automotive, textile, and others. The cosmetics and personal care segment is expected to dominate the market due to the growing use of ethylene oxide as a sterilant preservative in cosmetics and personal care products. The extensive use of ethoxylation in manufacturing many personal care products like hair conditioners, cosmetics, shampoos, and shower gels.
Ethoxylation is a process through which ethylene oxide is produced as a byproduct and then it is used to make chemical ingredients used in cosmetics and personal care products. The demand for ethoxylation to use it for personal and cosmetics products is expected to grow in the coming years as it reacts with other chemicals and makes it less harsh.
On the basis of region, the global High Purity Ethylene Oxide (HPEO) market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is expected to dominate the market due to the increasing use of High-purity Ethylene Oxide in the rapidly growing automotive industry in emerging economies such as India and China.
North America is anticipated to register a considerable CAGR during the forecast period due to the extensive use of ethanolamine as an intermediate ingredient for producing PEG- Amines that are further utilized across various industries.
Segments
By Derrivative
- Ethylene Glycols
- Monoethylene Glycol
- Diethylene Glycol
- Triethylene Glycol
- Ethoxylates,
- Ethanolamines,
- Glycol Ethers
- Polyethylene Glycol
- Others
By Application
- Polyester Fibers
- Plastic bottles
- Surfactants
- Antifreeze compounds
- Others
By End-use Industry
- Pharmaceuticals
- Food & Beverages
- Cosmetic and Personal care
- Automotive
- Textile
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Shell Global
- China Petroleum &
- Chemical Corporation
- Reliance
- BASF SE
- Indorama Ventures Public Company Limited
- NIPPON SHOKUBAI CO.LTD
- LOTTE Chemical Corporation.
Competitive Landscape
Key players competing in the market are Shell Global; China Petroleum & Chemical Corporation; Reliance; BASF SE; Indorama Ventures Public Company Limited; NIPPON SHOKUBAI CO., LTD; and LOTTE Chemical Corporation.
These companies adopted development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion to expand their consumer base worldwide.
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