Discover the expanding market for Ethylene Oxide (EO) and Ethylene Glycol (EG), driven by their versatile applications in sectors such as textiles, automotive, healthcare, and packaging.
The global Ethylene Oxide (EO) and Ethylene Glycol (EG) Market reached a size of USD 4.32 Billion in 2022, with expectations to reach USD 7.93 Billion by 2032. This represents a projected revenue Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period. The growth in market revenue can be attributed to several key factors, including increased demand from various end-use industries, advancements in technology, and governmental regulations emphasizing environmental sustainability.
Ethylene Oxide (EO) and Ethylene Glycol (EG) are chemicals widely utilized across diverse sectors such as automotive, textile, healthcare, and packaging. EO serves as a versatile chemical primarily used as a raw material in the production of ethylene glycol, which, in turn, finds applications in the manufacturing of Polyester fibers, antifreeze, and other products. The market for EO and EG is witnessing expansion due to the rising demand for polyester fibers in the textile industry and increased use of antifreeze in automotive applications.
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Major Companies:
- Shell Chemicals
- BASF SE
- SABIC
- Dow Inc.
- Reliance Industries Limited
- INEOS Group Limited
- Formosa Plastics Corporation
- LyondellBasell Industries Holdings B.V.
- Mitsubishi Chemical Corporation
- China Petroleum & Chemical Corporation (Sinopec)
Strategic Developments:
- In 2021, Shell Chemicals announced its plans to invest in a new ethylene oxide production unit in the United States. The unit is expected to have a capacity of 1.5 million tons per year and is aimed at meeting the increasing demand for ethylene oxide in various applications, including Surfactants, solvents, and glycol ethers.
- In 2020, BASF SE announced the expansion of its ethylene oxide production capacity at its site in Antwerp, Belgium. The expansion is expected to increase the company's production capacity by 400,000 metric tons per year and cater to the growing demand for ethylene oxide and its derivatives in Europe and other regions.
- In 2020, Dow Inc. announced its plans to construct a new world-scale ethylene oxide production facility on the U.S. Gulf Coast. The facility is expected to have a capacity of 750,000 metric tons per year and is aimed at addressing the increasing demand for ethylene oxide in various end-use industries, including automotive, packaging, and personal care.
- In 2020, Reliance Industries Limited announced its plans to expand its ethylene oxide and ethylene glycol production capacity at its site in Jamnagar, India. The expansion is expected to increase the company's production capacity by 400,000 metric tons per year and cater to the growing demand for these chemicals in the Indian and global markets.
- In 2019, INEOS Group Limited completed the acquisition of The Dow Chemical Company's ethylene oxide and ethylene glycol production assets in the United States, Canada, and the Netherlands. The acquisition aimed to strengthen INEOS' position in the global ethylene oxide and ethylene glycol market and expand its production capabilities.
Key questions addressed in the report:
- What is the expected market size of the global Ethylene Oxide (EO) and Ethylene Glycol (EG) market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Ethylene Oxide (EO) and Ethylene Glycol (EG) market?
Ethylene Oxide (EO) and Ethylene Glycol (EG) Market Segmentation:
By Product Type Outlook:
- Ethylene Oxide
- Ethylene Glycol
- Diethylene Glycol
- Others
By End-Use Outlook:
- Polyester Fibers
- Antifreeze and Coolants
- Ethylene Glycol Monoethylene Ether
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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