Los Angeles, January 7, 2020 -QY Research recently published a research report titled, “Global Ethylene Oxide (EO) Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application”. The global ethylene oxide (EO) market is expected to reach US$36.49 bn by the end of 2025 from US$28.69 bn in 2018, growing at the rate of CAGR of 3.49%.
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Global Ethylene Oxide (EO) Market to Grow as the Demand for the PET Industry Rises
PET (polyethylene terephthalate) is the major factor for the increase in demand for ethylene oxide. The main element to manufacture PET is ethylene oxide. PET is majorly used to manufacture packaging material for the food and beverage industry. The PET market is increasing due to the factors like recyclability, strength and versatility. As the demand for PET packages by healthier and premium brands is increasing, the global ethylene oxide market will subsequently rise.
However, ethylene oxide can have harmful effects on humans and environment if not used strictly. This can hinder the growth of ethylene oxide market.
Commercial Applications Poised to Increase Demand for Ethylene Glycol Further
Ethylene glycol can be used as raw material in manufacturing various products such as carpet, pillows and polyester fiber for clothes. It can also be used to keep car engine from freezing as it acts like a coolant to reduce overheating. Other uses for ethylene glycol can be found industrial applications such as ventilating, compressors, heating as well as air conditioning units. Developing nations and industrialization have elevated the ethylene market and is expected to grow further
Regional Outlook for the Global Ethylene Oxide Market
The main regions to drive the global ethylene oxide market are North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Amongst these regions, Asia Pacific is expected to expand further in upcoming years. The expansion of downstream businesses like manufacturing of PET products and polyester fiber in regions such as South Asia and India, have led the market to success.
Competitive Landscape for the Global Ethylene Oxide Market
The key drivers in the global ethylene oxide market are Dow Chemical, Sharq, Formosa, Yansab, Shell, Al-Jubail Petrochemical Company, Sinopec, Reliance, Basf, Indorama, Ventures, Ineos, Huntsman, PTT Global Chemical, LyondellBasell, Indian Oil, Oriental, Union Chemical, CNPC, Sibur, Nippon Shokubai, India Glycol Limited, Eastman, Kazanorgsintez, and Sasol.
QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.
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