Market Segmentation
The global ethylene oxide market has been segmented by product, and region. Based on product, the market has been segmented into ethylene glycol, ethoxylates, ethanolamines, glycol ethers, polyethylene glycol, polyether polyols, and others. The ethylene glycol segment accounted for the largest market share in 2017 and is expected to witness significant growth during the review period on account of the increasing demand in numerous applications such as PET resins, polyester fiber, and antifreeze formulations among others.
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In addition, the product finds use in food (spices) and cosmetics as sterilant and in sterilization of surgical equipment and plastic devices which are not sterilized by steam such as assembled complex devices, catheters, integrated-electronics equipment, multi-lumen tubing products, stents, and wound care dressings. Ethylene oxide is widely preferred in medical devices as it disrupts the DNA of microorganisms and prevents them from reproducing on the surface of the equipment.
Ethoxylates accounted for the second largest share of the global ethylene oxide market and is likely to grow at a healthy CAGR on account of growing demand for detergents, fabric softeners, and industrial cleaners worldwide.
Competitive Analysis
Some of the key players in the global ethylene glycol market are Exxon Mobil Corporation (US), BASF SE (Germany), Akzo Nobel N.V. (Netherlands), Clariant (Switzerland), DowDuPont (US), INEOS (UK), LyondellBasell Industries Holdings B.V. (Netherlands), China Petrochemical Corporation (China), Royal Dutch Shell plc (Netherlands), Huntsman Corporation (US), SABIC (Saudi Arabia), and The Linde Group (US).
Regional Analysis
Based on region, the ethylene oxide market has been classified into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the largest share of the ethylene oxide market on account of the growing end-use industries in the region, especially the chemicals, surfactants, pharmaceuticals, and cosmetics and personal care industries. An expanding population base and rising disposable income of consumers are the other factors driving market growth.
North America is a prominent market for ethylene oxide due to the growing flexible packaging industry as a result of the increasing consumption of packaged beverages and food products.
The markets in Latin America and the Middle East & Africa are likely to register moderate growth during the review period as a result of the growing industrial base in these regions.
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