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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