Ethylene oxide and Ethylene Glycol Market by Product Type (Ethylene Glycol, Ethoxylates, Ethanolamines, Glycol Ethers), Application (Polyester Fibers, Antifreeze & Coolants, PET Resins), End-Use Industries, and Region - Global Forecast to 2029
The global ethylene oxide and ethylene glycol market is expected to grow at a CAGR of 5.5% during the forecast period, from an estimated USD 39.7 Billion in 2024 to USD 51.9 Billion by 2029. The demand for ethylene oxide and ethylene glycol is increasing due to their versatile applications across various industries. Ethylene glycol is extensively used in the production of PET resins, polyester fibers, antifreeze solutions, and other products in automotive, textiles, plastics, and packaging sectors. Additionally, ethylene oxide is crucial for healthcare sterilization purposes. Advancements in production technologies, sustainability practices, and growing consumption in emerging economies further contribute to the rising demand for these chemicals.
Scope of the Report
Years Considered for the Study
2020-2029
Base Year
2023
Forecast Period
2024-2029
Units Considered
Value (USD Million), Volume (Kiloton)
Segments
Product Type, Application, End-use Industry, and Region
Regions covered
Asia Pacific, North America, Europe, Middle East and Africa, and South America
"Ethylene Glycol accounted for the largest share in product type segment of ethylene oxide and ethylene glycol market in terms of value."
Ethylene glycol commands the largest share in the product type segment of the ethylene oxide and ethylene glycol market due to its extensive use and versatile applications across multiple industries. As a key raw material, ethylene glycol plays a pivotal role in the production of PET resins, which are widely utilized in the manufacturing of plastic bottles, packaging materials, fibers for textiles, and polyester films. Its properties, including excellent thermal stability, hygroscopic nature, and the ability to form stable solutions, make it a preferred choice for manufacturers in various sectors. Moreover, ethylene glycol is commonly used in antifreeze formulations for automotive engines and HVAC systems, further increasing its demand. The growing adoption of ethylene glycol in emerging economies, driven by rapid industrialization and urbanization, also contributes significantly to its dominant market position within the ethylene oxide and ethylene glycol segment.
"Polyester fibers accounted for the largest share in application segment of ethylene oxide and ethylene glycol market in terms of value."
Polyester fibers hold the largest share in the application segment of the ethylene oxide and ethylene glycol market due to their versatility and widespread use in various industries. These fibers, derived from ethylene glycol through polymerization processes, possess excellent properties such as strength, durability, resistance to wrinkles, and ease of care. This makes them highly desirable for applications in textiles, apparel, home furnishings, industrial fabrics, and non-woven materials. Additionally, polyester fibers are favored for their ability to be blended with other fibers, enhancing their performance and applicability across different sectors. The growing demand for textiles, especially in emerging economies, coupled with continuous innovations in production techniques and sustainability practices, further reinforces polyester fibers' dominance in the ethylene oxide and ethylene glycol market's application segment.
"Textile accounted for the largest share in the end-use industry segment of ethylene oxide and ethylene glycol market in terms of value."
The textile industry commands the largest share in the end-use industry segment of the ethylene oxide and ethylene glycol market due to its extensive utilization of ethylene glycol in polyester fiber production. Polyester fibers, derived from ethylene glycol through polymerization processes, offer exceptional properties such as strength, durability, wrinkle resistance, and ease of care. These qualities make polyester fibers highly sought-after for a wide range of applications, including apparel, home textiles, industrial fabrics, and non-woven materials. Moreover, the versatility of polyester fibers allows for the creation of innovative and high-performance textiles suitable for various sectors such as fashion, sportswear, automotive, and furnishings. The growing demand for textiles in emerging economies, coupled with advancements in textile technologies and sustainability practices, further strengthens the textile industry's dominant position in the ethylene oxide and ethylene glycol market's end-use segment.
"Asia-Pacific is the largest market for ethylene oxide and ethylene glycol."
The Asia Pacific region holds the largest share in the ethylene oxide and ethylene glycol market due to several key factors. Firstly, the region's rapid industrialization, particularly in countries like China, India, and Southeast Asian nations, fuels substantial demand for ethylene glycol across various industries such as automotive, textiles, plastics, and packaging. Additionally, the burgeoning population and rising disposable incomes in these economies lead to increased consumption of ethylene glycol-based products like PET resins, polyester fibers, and antifreeze solutions. Furthermore, Asia Pacific benefits from supportive government policies, investments in infrastructure, and technological advancements, creating a conducive environment for market growth. The strategic geographical location of the region, its access to raw materials, and expanding export opportunities further contribute to Asia Pacific's dominance in the ethylene oxide and ethylene glycol market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the ethylene oxide and ethylene glycol market, and information was gathered from secondary research to determine and verify the market size of several segments.
By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
By Designation: C Level Executives- 20%, Directors - 10%, and Others - 70%
By Region: North America - 20%, Europe - 30%, APAC - 30%, South America- 10% , and
the Middle East & Africa -10%
The ethylene oxide and ethylene glycol market comprises major players such as BASF SE (Germany), SABIC (Saudi Arabia), Shell Plc (UK), Dow Chemical Company (US), ExxonMobil Corporation (US), Clariant AG (Switzerland), LyondellBasell Industries Holding B.V (US), Huntsman Corporation (US), Nippon Shokubai Co., Ltd. (Japan), INEOS Group (UK), Thermo Fisher Scientific Inc. (US), Reliance Industries Limited (India) and others. The study includes in-depth competitive analysis of these key players in the ethylene oxide and ethylene glycol market, with their company profiles, recent developments, and key market strategies.
Research Coverage
This report segments the market for ethylene oxide and ethylene glycol market on the basis of product type, application, end-use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for ethylene oxide and ethylene glycol market.
Key benefits of buying this report
This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the ethylene oxide and ethylene glycol market; high-growth regions; and market drivers, restraints, opportunities, and challenges.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the ethylene oxide and ethylene glycol market offered by top players in the global ethylene oxide and ethylene glycol market.
Analysis of drivers: (Strong demand for polyester fibers and PET resins, Growing demand for antifreeze, Technological advancements in production processes, Increasing demand for household and personal care products), restraints (Rising crude oil prices. Regulatory scenario, Geopolitical factors affecting supply chain), opportunities (Growing Asia-Pacific market, Growing non-ionic surfactant demand, Development of bio-based ethylene oxide and glycol production technologies, Integration of ethylene oxide derivatives in pharmaceutical and personal care products), and challenges (Price volatility and fluctuations in raw material costs, Stringent environmental regulations impacting production processes) influencing the growth of ethylene oxide and ethylene glycol market.
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the ethylene oxide and ethylene glycol market.
Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for ethylene oxide and ethylene glycol market across regions.
Market Capacity: Production capacities of companies producing ethylene oxide and ethylene glycol are provided wherever available with upcoming capacities for the ethylene oxide and ethylene glycol market.
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the ethylene oxide and ethylene glycol market.
TABLE OF CONTENTS
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
FIGURE 1 ETHYLENE OXIDE AND ETHYLENE GLYCOL MARKET SEGMENTATION
1.3.2 REGIONS COVERED
1.3.3 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 UNITS CONSIDERED
1.6 LIMITATIONS
1.7 STAKEHOLDERS
1.8 SUMMARY OF CHANGES
1.8.1 IMPACT OF RECESSION
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Interviews with experts-demand and supply side
2.1.2.3 Key industry insights
2.1.2.4 Breakdown of interviews with experts
2.2 MARKET SIZE ESTIMATION
FIGURE 3 MARKET SIZE ESTIMATION: APPROACH
2.2.1 BOTTOM UP APPROACH
2.2.1.1 Approach for arriving at market size using bottom up analysis
FIGURE 4 BOTTOM UP APPROACH
2.2.2 TOP DOWN APPROACH
2.2.2.1 Approach for arriving at market size using top down analysis
FIGURE 5 TOP DOWN APPROACH
2.3 DATA TRIANGULATION
FIGURE 6 DATA TRIANGULATION
2.4 FACTOR ANALYSIS
2.5 FORECAST ESTIMATION
FIGURE 7 DEMAND SIDE FORECAST PROJECTIONS
2.6 RESEARCH ASSUMPTIONS
2.7 IMPACT OF RECESSION
3 EXECUTIVE SUMMARY
TABLE 1 ETHYLENE OXIDE AND ETHYLENE GLYCOL: MARKET SNAPSHOT
FIGURE 8 ASIA PACIFIC ESTIMATED TO LEAD ETHYLENE OXIDE AND ETHYLENE GLYCOL MARKET IN 2024
FIGURE 9 ETHYLENE GLYCOL TO DOMINATE MARKET DURING FORECAST PERIOD
FIGURE 10 POLYESTER FIBERS SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
FIGURE 11 TEXTILES SEGMENT TO ACCOUNT FOR LARGEST SHARE DURING FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ETHYLENE OXIDE AND ETHYLENE GLYCOL MARKET
FIGURE 12 INCREASING DEMAND FROM POLYESTER FIBER APPLICATION TO DRIVE MARKET DURING FORECAST PERIOD
4.2 ETHYLENE OXIDE AND ETHYLENE GLYCOL MARKET, REGIONAL ANALYSIS
FIGURE 13 ASIA PACIFIC TO ACCOUNT FOR LARGEST SHARE BY 2029, IN TERMS OF VOLUME
4.3 ETHYLENE OXIDE AND ETHYLENE GLYCOL MARKET, BY COUNTRY
FIGURE 14 CHINA TO BE FASTEST-GROWING ETHYLENE OXIDE AND ETHYLENE GLYCOL MARKET DURING FORECAST PERIOD, IN TERMS OF VOLUME
4.4 ETHYLENE OXIDE AND ETHYLENE GLYCOL MARKET, BY PRODUCT TYPE
FIGURE 15 ETHYLENE GLYCOL SEGMENT TO ACCOUNT FOR LARGEST SHARE BY 2029
4.5 ETHYLENE OXIDE AND ETHYLENE GLYCOL MARKET, BY APPLICATION
FIGURE 16 POLYESTER FIBERS SEGMENT TO ACCOUNT FOR LARGEST SHARE IN 2029
4.6 ETHYLENE OXIDE AND ETHYLENE GLYCOL MARKET, BY END-USE INDUSTRY
FIGURE 17 TEXTILES SEGMENT TO ACCOUNT FOR LARGEST SHARE IN 2029
4.7 ASIA PACIFIC: ETHYLENE OXIDE AND ETHYLENE GLYCOL MARKET, BY APPLICATION AND COUNTRY
FIGURE 18 CHINA ACCOUNTS FOR LARGEST SHARE IN ASIA PACIFIC MARKET IN 2024
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 19 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Strong demand for polyester fibers and PET resins
5.2.1.2 Growing demand for antifreeze
5.2.1.3 Technological advancements in production processes
5.2.1.4 Increasing demand for household and personal care products
*Details on Business overview, Products/Solutions/Services offered, Recent Developments, MnM view, Right to win, Strategic choices, Weaknesses and competitive threats might not be captured in case of unlisted companies.
12.2 OTHER PLAYERS
12.2.1 INDIA GLYCOLS LIMITED
TABLE 230 INDIA GLYCOLS LIMITED: COMPANY OVERVIEW
12.2.2 RESTEK CORPORATION
TABLE 231 RESTEK CORPORATION: COMPANY OVERVIEW
12.2.3 ADVANCED AIR TECHNOLOGIES, INC.
TABLE 232 ADVANCED AIR TECHNOLOGIES, INC.: COMPANY OVERVIEW
12.2.4 ENVIRONMENTAL TECTONICS CORPORATION (ETC)
TABLE 233 ENVIRONMENTAL TECTONICS CORPORATION (ETC): COMPANY OVERVIEW
12.2.5 GJ CHEMICAL
TABLE 234 GJ CHEMICAL: COMPANY OVERVIEW
12.2.6 COOLANTS PLUS INC.
TABLE 235 COOLANTS PLUS INC.: COMPANY OVERVIEW
12.2.7 CATALYNT SOLUTIONS, INC.
TABLE 236 CATALYNT SOLUTIONS, INC.: COMPANY OVERVIEW
12.2.8 VIZAG CHEMICAL INTERNATIONAL
TABLE 237 VIZAG CHEMICAL INTERNATIONAL: COMPANY OVERVIEW
12.2.9 SAE MANUFACTURING SPECIALTIES CORP.
TABLE 238 SAE MANUFACTURING SPECIALTIES CORP.: COMPANY OVERVIEW
12.2.10 NOURYON
TABLE 239 NOURYON: COMPANY OVERVIEW
12.2.11 SYNTHOKEM LABS PRIVATE LIMITED
TABLE 240 SYNTHOKEM LABS PRIVATE LIMITED: COMPANY OVERVIEW
12.2.12 TOKYO ENGINEERING KOREA LTD.
TABLE 241 TOKYO ENGINEERING KOREA LTD.: COMPANY OVERVIEW
12.2.13 FARSA CHIMIE PETROCHEMICAL CO.
TABLE 242 FARSA CHIMIE PETROCHEMICAL CO.: COMPANY OVERVIEW