Ethylene oxide use high as a sterilizing agent in the medical sector. For more details, get the fully updated market study released by Fact.MR.

ROCKVILLE PIKE SUITE, ROCKVILLE, USA, June 12, 2024 /EINPresswire.com/ --

According to this recently updated industry analysis by Fact.MR, the global ethylene oxide market (エチレンオキシド市場) has been valued at US$ 60.6 billion in 2024 and is forecasted to advance at a CAGR of 5.8% from 2024 to 2034.

Polyester fiber, which finds application in coated fabrics, seat belts, conveyor belt fabrics, etc., is manufactured from ethylene oxide. Steady expansion of the industrial and automotive sectors in several regions is leading to the rising demand for ethylene oxide.

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Increasing demand for PET bottles is estimated to come from the packaging sector, which is further contributing to the high usage of ethylene oxide for its use as a surfactant, emulsifier, and plasticizer in production of fiber and plastic products. With constantly changing consumer habits and tastes in beverages, an increase in the demand for more effective packaging products is being seen, which is complementing ethylene oxide market growth.

Rising consumption of ethylene oxide in the manufacturing of various other chemicals, such as ethylene oxide, polyols, glycol ethers, surface active agents, etc., is also widening the opportunities for market players.

Key Takeaway from Market Study

The global ethylene oxide market is poised for significant expansion, with sales projected to soar to US$ 106.5 billion by the close of 2034. East Asia is expected to emerge as a major contributor, accounting for 24.6% of the global market revenue by the end of the forecast period, indicative of the region's robust industrial growth and increasing demand for ethylene oxide derivatives. Specifically, in South Korea, demand for ethylene oxide is estimated to surge at a notable CAGR of 7.1% from 2024 to 2034, driven by expanding applications across various industries. Moreover, the worldwide demand for glycol ether is forecasted to witness steady growth, with a CAGR of 5.5%, reaching a value of US$ 26.5 billion by 2034, reflecting its widespread utilization in diverse sectors such as paints, coatings, and pharmaceuticals. Concurrently, sales of ethoxylate are anticipated to rise at a CAGR of 6%, reaching US$ 24.6 billion by the end of 2034, propelled by its versatility and increasing adoption in cleaning and personal care products globally.

“Shifting preferences of more consumers to branded goods, favorable government policies, and expansion of the textile & apparel sector are contributing to overall ethylene oxide market growth,” says a Fact.MR analyst.

Presence of Prominent End-use Industries in United States

Demand for ethylene oxide in the United States is anticipated to increase at a CAGR of 6.5% and reach a value of US$ 13.7 billion by 2034. Growing requirements for hair care and skin care products are generating demand for ethylene oxide. Furthermore, an expansion of the healthcare industry and growing spending on personal care products is estimated to lead to the expansion of the ethylene oxide market in the United States.

Key Market Players

Leading manufacturers of ethylene oxide are BASF, LOTTE Chemical Corporation, SABIC, Huntsman International, India Glycols Ltd., Indian Oil Corporation, DowDupont, Indorama Venture Public Company Ltd., Royal Dutch Shell, and Formosa Plastic Ltd.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the ethylene oxide market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights into the market based on application (ethylene glycol, ethoxylate, ethanolamines, glycol ethers, polyethylenes, others), end use (chemical processing, healthcare, food & beverages, automotive, others), and sales channel (online, offline), across six major regions of the world (North America, Europe, East Asia, Latin America, South Asia & Oceania, and MEA).

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Explore More Related Studies Published by Fact.MR Research:

Ethylene Amines Market: (エチレンアミン市場) The global sales of the ethylene amines market in 2021 was held at US$ 2.2 Billion. With 6.7% CAGR, the projected market growth during 2022 - 2032 is expected to be slightly higher than the historical growth.

Cryogenic Ethylene Market: (極低温エチレン市場) Worldwide consumption of cryogenic ethylene is estimated at US$ 4.78 Bn in 2022. Detailed industry analysis has revealed that, the global cryogenic ethylene market size is forecast to reach a valuation of US$ 11.53 Bn by 2032, expanding at a CAGR of 9.2% during 2022-2032.

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