Ethylene Oxide Market is Expected to Grow at a CAGR of 4.60% by 2030

Posted by ChemAnalyst on September 27th, 2021

According to ChemAnalyst report, “Ethylene Oxide Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, The Ethylene Oxide market has witnessed significant growth as it reached 22.45 million tonnes in 2020 and is anticipated to achieve a healthy CAGR of 4.60% during the forecast period until 2030. Continuously growing demand for Ethylene Oxide due to its vast applications by the major end-use industries including pharmaceutical, automotive, agrochemicals, textile, and others is likely to boost the Ethylene Oxide market globally over the next ten years. The hazardous effects of Ethylene Oxide on human health due to its highly flammable and reactive nature can hamper the Ethylene Oxide market across the globe in upcoming years.

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Ethylene Oxide with the chemical formula C₂H₄O is a cyclic ether and the simplest epoxide consisting of one oxygen atom and two carbon atoms. It is a soluble, colorless, flammable, and highly reactive gas with a sweet odor. Industrially, Ethylene oxide is produced on a large scale by the direct oxidation of Ethylene over suitable catalysts at a temperature of around 200°C to 300°C.

Ethylene oxide is a versatile chemical commodity that is primarily used in the production of several industrial chemicals, the most notable of which is Ethylene Glycol. Ethylene Oxide finds its applications in non-contact infrared thermometers, thermal imaging systems (Infrared thermographic systems/thermal imaging cameras), surgical staplers, liquid chemical sterilization, patient lifts, etc. It is widely used as a surface disinfectant in the healthcare and medical equipment industry to replace steam in the sterilization of heat-sensitive tools and equipment, such as disposable plastic syringes. The rapidly increasing demand for Ethylene Oxide for the sterilization of medical devices is propelling the Ethylene Oxide market globally. Other applications of Ethylene Oxide include personal care items like cosmetics and shampoos, household and industrial cleaners, polyurethanes, heat transfer liquids, plasticizers, ointments, fabrics for clothes, upholstery, carpet, and others. Due to rapid urbanization especially in emerging countries, the demand for personal and cosmetic products is rising exponentially, which is driving the demand for Ethylene Oxide and is expected to boost the market in upcoming years.

Exposure to Ethylene Oxide can cause severe health effects like breathing difficulty, headache, nausea, vomiting, diarrhea, drowsiness, weakness, exhaustion, eye, and skin burns, frostbite, etc., According to the United States Environmental Protection Agency (EPA), Ethylene Oxide is carcinogenic to humans by the inhalation route of exposure and can increase the risk of breast and lymphoid cancer.

Global Ethylene Oxide Market is segmented on the basis of application, end-use, sales channel, and region. On the basis of Application, the Ethylene Oxide market is segmented into glycol ethers, acrylonitrile, ethoxylates, ethylene glycol, polyether polyols, and others. The Ethylene Glycol segment is dominating the Ethylene Oxide market globally due to the high demand by automotive, packaging, and pharmaceutical industries. Ethylene Glycol is extensively utilized in the production of polyester fibers, polyethylene terephthalate (PET) resins, and automotive antifreeze. The surging demand for Polyester fibers by the textile industry in the Asia Pacific region is expected to boost the Ethylene Oxide market in the next few years. Based on end-use industries, the Ethylene Oxide market is segregated into pharmaceuticals, automotive, agrochemicals, personal care, food & beverages, textiles, and others. The growing demand for PET bottles from the food and beverage industries is augmenting the Ethylene Oxide market across the globe. The textile industry dominated the Ethylene Oxide market and is likely to maintain its dominance until 2030 owing to the high demand for Ethylene Oxide to treat or produce a variety of fibers.

The unprecedented fall of COVID-19 in 2020 led to a severe decline in the Ethylene Oxide market across the globe. Many end-user industries including personal care, textiles, automotive, and others witnessed a huge negative impact due to the interruptions in the global supply chain. However, there was a surge in the demand for Ethylene Oxide owing to the increased demand for Hand sanitizers and other cleaning agents during the covid times.

Among different regions, the Asia Pacific region holds the largest share in the Ethylene Oxide market globally in 2020 and is expected to maintain its dominance during the forecast period until 2030 owing to the increasing consumption of Ethylene Oxide in emerging economies. Rapidly increasing demand for Ethylene Oxide from the major end-use industries including personal care, automotive, food and beverages, textile, and others is likely to accelerate the Ethylene Oxide market in the Asia Pacific region.

some of the major players operating in Ethylene Oxide market include BASF SE, ABIC, India Glycols Limited, DowDuPont Inc., Indorama Ventures Public Company Limited, Formosa Plastics Corporation, U.S.A., Royal Dutch Shell Plc., Indian Oil Corporation Ltd., Huntsman International LLC., LOTTE Chemical CORPORATION, Akzo Nobel N.V, and others.

“Growing demand for Ethylene Oxide from the major end-use industries including pharmaceuticals, food and beverages, textile, and others is likely to boost the Ethylene Oxide market across the globe in upcoming years. Increasing demand for Ethylene Oxide by the medical industry to sterilize medical tools and equipment is driving the Ethylene Oxide market.  In the Asia Pacific region, China owns the major consumption of Ethylene Oxide and its derivatives. Rising demand for beauty and cosmetics products in the Asia Pacific region is expected to propel the Ethylene Oxide market in the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.