Ethylene oxide and ethylene glycol: Key market research findings
- APAC dominates the market geographically
- Application of ethylene oxide in sterilization drives market growth
- Key vendors – BASF, Dow Chemical, Huntsman, Shell, and SABIC
Technavio’s market research analysts predict the global ethylene oxide and ethylene glycol market to grow at a CAGR of around 6% between 2016 and 2020. The growth of this market is fueled by the extensive use of ethylene oxide for medical sterilization purposes. Ethylene oxide has effective sporicidal, bactericidal, and virucidal activity. Being a low-temperature sterilizer, it does not damage medical devices that are made of plastics and other corrosive materials. The compound is also used to sterilize other healthcare products such as ointments and bandages. During 2015, the global market for ethylene oxide and ethylene glycol was dominated by the APAC with a market share of more than 50%. The growth of the market in this region during the forecast period can be accredited to the rapid industrialization and the development of infrastructure in emerging economies, especially in China and India.
The new market research report from Technavio presents a breakdown and analysis of the ethylene oxide and ethylene glycol segments based on the application.
“The market is currently witnessing an upsurge in the demand for polyester fibers from APAC, especially India and China. Polyester fibers are extensively used in coated fabrics, conveyor belt fabrics, and seat belts. This rise in the demand for polyester fibers is directly proportional to the growth of industrialization and changing lifestyles, which consequently drives market growth. Ethylene glycol is also being used in the textile industry in the form of polyester fibers,” says Chandrakumar Badala Jaganathan, Lead Analyst, Chemicals & Materials, Technavio Research.
By 2020, the polyester fiber segment will account for around 56% of the overall market share to become the key revenue generator in the global the ethylene oxide and ethylene glycol market. The high growth rate of this segment can be attributed to its low-cost of production and properties like resistance to fungal infestation, chemicals, physical abrasion, stretching, shrinking, and wrinkling. These fibers are used in a wide range of products such as carpets, fiberfill, rugs, and nonwoven fabrics. They are also used in industrial applications, apparel, and textiles.
The key vendors in the global the ethylene oxide and ethylene glycol market include BASF, Dow Chemical, Huntsman, Shell, and SABIC. The global ethylene oxide and ethylene glycol market is highly fragmented owing to the presence of many small and large players. The vendor competition is expected to intensify due to the presence of well-established international suppliers. Feedstock advantages and proximity to end-user markets will provide the prominent players a competitive edge amidst the rising competition.
A more detailed analysis is available in the Technavio report, Global Ethylene Oxide and Ethylene Glycol Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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