Farmington, March 28, 2023 (GLOBE NEWSWIRE) -- The Global Ethylene Oxide Market Is Currently Valued At USD 31.09 Billion In 2022 And Is Expected To Register USD 42.44 Billion By 2030 A Revenue CAGR Of 3.54% During 2023-2030. It is anticipated that the global market for ethylene oxide will expand over the next few years. This expansion will be driven by the rising demand from end-use industries such as the automotive, construction, and personal care product manufacturing sectors. However, the expansion of the industry could be hampered by a number of variables, including shifts in the cost of crude oil, worries about the state of the environment, and the accessibility of alternative products.
Request Sample Copy of Report “Ethylene Oxide Market Size, Share & Trends Estimation Report By Type Outlook (Glycol Ethers, Acrylonitrile, Ethoxylates Ethanolamines, Ethanolamines & Others) By End Use Outlook (Chemical Processing, Healthcare, Food and Beverages, Automotive & Others) By Region, And Segment Forecasts, 2022 - 2030”, published by Contrive Datum Insights.
Segmentation Overview:
Derivatives Insights:
Ethanolamines have a wide range of applications, including those of surfactants, corrosion inhibitors, and ingredients in personal care products. It is anticipated that the surfactants segment would be the largest end-use category for ethanolamines. This projection is being driven by the growing demand for surfactants in the personal care and home care industries. PEG has a wide range of applications and can be found in a variety of products, including medications, cosmetics, and lubricants. Because of the growing need for PEG in drug delivery methods and formulations, the pharmaceuticals sector is anticipated to be the end-use market that consumes the most PEG.
Glycol ethers have a wide range of applications and can be found in a variety of places, including coatings, solvents, and cleaning goods. The growing demand for coatings in the automotive and construction industries is predicted to lead the coatings segment to become the largest end-use category for glycol ethers. This is due to the fact that coatings are used to protect surfaces from the elements.
The derivatives sector of the worldwide ethylene oxide market is extremely varied and presents enormous expansion possibilities in a range of industries including coatings, packaging, textiles, personal care goods, and pharmaceuticals. Businesses that are able to effectively capitalize on the growth prospects presented in these submarkets stand a good chance of achieving success in the ethylene oxide market.
End User Insights:
One of the most important final-use industries for ethylene oxide and the derivatives of this compound is the packaging sector. The production of polyethylene terephthalate (PET), which is used for the production of bottles, containers, and films, requires the utilization of ethylene oxide as a key component. The expansion of the packaging market is being propelled by the food and beverage industry's rising demand for bottles and containers made of PET material, which is driving the market.
One of the most important final markets for ethylene oxide and the derivatives of this compound is the personal care and cosmetics sector. In the manufacturing of personal care and cosmetic items like soaps, shampoos, and moisturizers, ethoxylates and ethanolamines are frequently utilized as active ingredients. The expansion of this market segment is being driven by the rising demand for products that are used for personal care and cosmetics. Another important final consumer of ethylene oxide and its derivatives is the pharmaceutical industry. The production of polyethylene glycol (PEG), which is used as an excipient in pharmaceutical formulations, requires the utilization of ethylene oxide as a raw material. The expansion of the pharmaceuticals sector is being driven in large part by the rising demand for polyethylene glycol (PEG) in various drug delivery systems and formulations.
Regional Outlook:
In the field of electronics, the Asia-Pacific area is not only the most important but also the most rapidly developing region. It is responsible for the majority of both global production and consumption. China, Japan, South Korea, Taiwan, and India are some of the most influential countries in this region. The region is home to a sizable pool of trained workers, possesses robust manufacturing capabilities, and is witnessing the growth of a middle class, all of which are factors that are fueling consumer demand for electronic goods.
With a considerable emphasis on invention as well as research and development, the North American continent is a significant player in the global electronics sector. The United States of America, Canada, and Mexico are all significant actors in this region. The region has a highly developed supply chain and logistics infrastructure, as well as a strong focus on intellectual property protection and regulatory compliance. Moreover, the region has a high level of commitment to regulatory compliance.
In the field of electronics, Europe is another major region, particularly for the production of high-end and specialized items. The countries of Germany, France, the United Kingdom, and Italy are all important actors in this region. The area is home to a labour force that possesses a high level of expertise, advanced research and development skills, and a significant emphasis on environmental preservation and sustainability.
The market for consumer electronics and telecommunications equipment is particularly strong in the Middle East and Africa region, despite the fact that it is still a very small market overall. Countries such as the United Arab Emirates, Saudi Arabia, and South Africa are also important actors in this region. The region has a huge population that is expanding at a rapid rate, is becoming more urbanized, and is strengthening its infrastructure, all of which are factors that are driving demand for consumer electronics.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 3.54% from 2023 to 2030. |
| Revenue Forecast by 2030 | USD 42.44 Billion |
| By Derivatives | Glycol Ethers, Acrylonitrile, Ethoxylates Ethanolamines, Ethanolamines, Others |
| By End-use | Chemical Processing, Healthcare, Food and Beverages, Automotive, Others |
| By Companies | Samsung Electronics Co ltd, Intel, Taiwan Semiconductor Mfg. Co ltd, SK Hynix Inc., Micron Technology Inc, LG Electronics, Qualcomm Incorporated, Broadcom Inc., Texas Instruments, Sony Corporation, Godrej, Philips, TCL, Skyworth, Haier |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Dynamics:
Driving Factors:
Increasing demand from the personal care industry: Surfactants are used in a variety of personal care products including shampoos, soaps, and detergents. Ethylene oxide is utilized as a raw material in the synthesis of surfactants, which are used to make surfactants. The ethylene oxide market is anticipated to expand as a result of the expanding demand for personal care products coming from developing economies such as India and China.
Growth of the automotive industry: In the manufacturing of antifreeze and coolant, two products with significant use in the automobile sector, ethylene oxide is a key component. It is anticipated that there would be a rise in demand for ethylene oxide as a result of the expansion of the automobile industry, particularly in developing economies.
Restraining Factors:
Environmental concerns: Ethylene oxide is a chemical that is highly combustible and poisonous, and both the manufacturing and usage of this substance can have a severe effect on the surrounding environment. The expansion of the market for ethylene oxide can be hampered by stringent environmental restrictions and concerns.
Availability of substitutes: Products that employ ethylene oxide have a number of alternatives available, including bio-based chemicals and other synthetic chemicals. These alternatives can be used in their place. It's possible that the availability of these alternatives will slow the expansion of the ethylene oxide market.
Opportunity Analysis:
Development of innovative applications: In the manufacturing of a variety of industrial chemicals, including ethylene glycol, ethanolamine, and polyethylene glycol, ethylene oxide is employed as a component of the raw material supply. However, there may be unrealized potential for the development of new applications of ethylene oxide in other fields, such as the healthcare and electronic product manufacturing industries. Businesses have the ability to capitalize on this opportunity by making investments in research and development in order to investigate potential new uses for ethylene oxide.
Increasing use of ethylene oxide as a sterilization agent: In the healthcare industry, ethylene oxide is put to use as a sterilization agent for the purpose of cleaning and sanitizing various types of medical equipment and supplies. The COVID-19 pandemic has created a potential for growth in the market for ethylene oxide since it has led to an increased demand for products and services related to sterilizing. Businesses have the potential to capitalize on this opportunity by broadening their operations within the healthcare industry and developing innovative products and services related to the sterilization of medical supplies and instruments.
Key Segments Covered:
Top Market Players:
Samsung Electronics Co ltd, Intel, Taiwan Semiconductor Mfg. Co ltd, SK Hynix Inc., Micron Technology Inc, LG Electronics, Qualcomm Incorporated, Broadcom Inc., Texas Instruments, Sony Corporation, Godrej, Philips, TCL, Skyworth, Haier, and others.
By Derivatives
- Glycol Ethers
- Acrylonitrile
- Ethoxylates Ethanolamines
- Ethanolamines
- Others
By End-use
- Chemical Processing
- Healthcare
- Food and Beverages
- Automotive
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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