Industry Outlook and Trend Analysis
The Ethylene Oxide Market was worth USD 35.51 billion in the year of 2014 and is expected to reach approximately USD 60.75 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 6.15% during the forecast period. Ethylene oxide is broadly used crosswise over different businesses for generation of antifreeze, adhesives, solvents, textiles, detergents, and pharmaceuticals. Ethylene oxide is likewise display in sterility for fumigants, in hospitals for sterility of surgical equipment, cosmetics and spices, and so on. Developing interest for polyester fibers and PET resins is anticipated to boost the worldwide market for ethylene oxide over the estimate period. With each PET bottle that is produced, ethylene oxide is made use of. With the rising demand for PET containers in each organization and is likewise favored by the end users, all the while the interest for Ethylene oxide is expanding. Another driver incorporates the expanding interest for antifreeze in automotive sectors; antifreeze is utilized to bring down the point of solidification of water based fluid in the vehicles. The limitations which are confining the development of ethylene oxide in the worldwide market is the variances in crude oil costs in the market; which is vital crude material for ethylene oxide and furthermore the representing issues.
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Application Outlook and Trend Analysis
There has been a quick increment in the requirement of ethylene oxide in the market. The applications of ethylene oxide are broadly enhanced into different regions of usage. Different applications of ethylene oxide dissected incorporate ethanolamine, polyethylene, ethoxylates, monoethylene glycol, polyols, diethylene & triethylene, and so forth. Monoethylene glycol is broadly utilized as a part of territories, for example, for the creation of polyester fibers, bottles, films, likewise useful as antifreeze in automotive industry, heat transfer liquids, and so forth. In 2013 Monoethylene glycol section dominated the general ethylene oxide market and the same is foreseen to develop at a significant rate over the estimate period. Diethylene and Triethyleneare used in the process of gas drying and furthermore used as solvents for cork for paste, glue and paper.
Regional Outlook and Trend Analysis
Asia pacific market rules the worldwide ethylene oxide advertise regarding volume and income. Expanding industrialization is foreseen to fuel the market development in Asia Pacific area over the figure period. Asia Pacific was trailed by North America. Asia Pacific market, aside from being the biggest market is likewise anticipated that would develop at a critical rate over the conjecture time frame. Europe and North America market are saturated markets and have been developing at a moderately slow rate from last a few years. In North African areas, enormous companies are opening up their plants and concentrating on the development of this compound attributable to expanding interest for ethylene oxide throughout the world.
Competitive Insights
The market is highly competitive with a number of leading players such as Clariant, Sinopec, Honam Petrochemical Corporation, BASF, Huntsman Corporation, Formosa Plastics Group, INEOS OXIDE LIMITED, LyondellBasell, Dow Chemical Company and Royal Dutch Shell. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
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The Ethylene Oxide Market is segmented as follows-
By Application:
Ethoxylates
Diethylene & Trimethylene
Polyethylene
Monoethylene Glycol
Ethanolamine
Polyols
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
Some of the key questions answered by the report are:
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What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?