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Growth of textile sector is driving the Ethylene Oxide & Ethylene Glycol Market and offering major growth prospects in the market.

HYDERABAD, TELANGANA, INDIA, January 30, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Ethylene Oxide & Ethylene Glycol Market size is estimated to reach US$25.0 billion by 2027 after growing at a CAGR of around 4.7% from 2022 to 2027. The ethylene oxide and the ethylene glycol are industrial organic intermediaries that are used in various end-use industries. The ethylene glycol is prepared from the ethylene oxide through thermal hydration. The ethylene oxide in ethylene glycol is used for the synthesis of various derivatives such as glycol ether, ethylene carbonate, monoethylene glycol, polyethylene glycols, ethanolamines, diethylene glycol, and others. The high demand of ethylene glycol and ethylene oxide for application in polyester fibers for textiles, plastics, ethylene glycol antifreeze, and others is driving the ethylene oxide & ethylene glycol market. Furthermore, the rise in usage of ethylene oxide in packaging plastics, medical equipment, and cosmetics will offer major growth prospects during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Research/Global-Ethylene-Oxide-And-Ethylene-Glycol-Market-Research-500210

Key takeaways:

This IndustryARC report on the Ethylene Oxide & Ethylene Glycol Market highlights the following areas -

1. The ethylene oxide & ethylene glycol market size will grow due to its increasing application in plastics manufacturing, polyester fibers, PET, automotive fluids and antifreeze, and others, leading to high demand across major end-users during the forecast period.

2. The Asia Pacific region held the largest market share in the ethylene oxide & ethylene glycol industry owing to growing industrial base for ethylene oxide & ethylene glycol, along with major advancement in end-use industries such as food & beverage, automotive, and others.

3. The demand for PET resins and polyester fibers is high in the market due to superior properties such as strength, durability, and others in major end use sectors.

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Segmental Analysis:

1. According to the United States Department of Agriculture (USDA), the foodservice and food retail industry in the U.S. supplied worth USD 1.69 trillion of food in the year 2020. The increasing demand of PET for packaging, food and beverage containers, PET bottle resin, and others is offering major growth in the ethylene oxide & ethylene glycol industry.

2. Asia Pacific segment is the fastest-growing region in the ethylene oxide & ethylene glycol market and is projected to grow with a CAGR of 5.6% during the forecast period. The growth of ethylene oxide & ethylene glycol in this region is influenced by growing demand in various end-use industries such as automotive, textile, food and beverage, cosmetics & personal care, and others.

3. The ethylene oxide & ethylene glycol has rising application in the food and beverage sector in PET bottle resin, polyesters films packaging for food and beverages, beverage containers prepared from PET plastics, and others. The PET plastics or fibers prepared from ethylene glycol have various advantages over glass packaging material for water bottles, food and beverage containers, and others.

Competitive Landscape:

The top 5 players in the Ethylene Oxide & Ethylene Glycol Industry are -

1. BASF
2. AkzoNobel
3. Ineos
4. Dow Chemical
5. SABIC

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Related Reports:

A. Ethylene Copolymers Market
https://www.industryarc.com/Report/1278/ethylene-copolymers-market-analysis.html

B. Mono-ethylene Glycol Market
https://www.industryarc.com/Research/Mono-ethylene-Glycol-Market-Research-503032

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