Global Ethylene Oxide Market 2013-2023
Ethylene oxide exists in a gaseous formand is a flammable alkylating agent. It is a variety of usesespecially in the hospital, dentistry, surgery; it's used for disinfecting and sterilizing medical instruments. It is also useful in producing consumer goods which consist of thickeners, detergents, plastics, and solvents. Ethylene oxide is majorly useful in manufacturing polyester fiber, which is in utilization widely for making of seat belts, conveyor belt fabrics, and coated fabrics.
The report on the global market for ethylene oxide insights on the present market scenario by conducting over 280 hours of primary and secondary research. As per the report, Asia global market for ethylene oxide is growing its area and effective sphere of influence very fast and is gaining popularity. The global market for ethylene oxide was predicted to be worth USD $ xxxx million for the year 2018 and anticipated to value over USD xxx million by the year 2023, rising at a CAGR of xx % forthe forecast period.
The major driving factor for the global ethylene oxide market is the sprouting demand for ethylene oxide for the PET bottles. Ethylene oxide has many derivatives which are required for producing a variety of everyday products, including plastics, household cleaners, and ointments.
A major hindrancefor the global ethylene oxide market is high volatility in the crude oil prices. With the crude oil prices rising upwards the price trends are predicted to reflect in the ethylene prices which are in consideration as an essential raw material for the production of ethylene oxide and ethylene glycol. The crude oil price unpredictability is anticipated to reflect in the prices of both EO and EG. The upwards tendency in EO and EG prices is most likely to prompt the prices of EO and EG producers and to pass on the burden of rising feedstock costs to the buyers that might have chances to hamper the market.
The Asia-Pacific areas have the most significant global market for ethylene oxide during the estimated period. This is due to the rising demand especially from the developing economies, like China, India, Indonesia, and Malaysia and their end-users. The increasing demand has noticed a rise in various sectors, including packaging, films, textile fibers, and the soaps & detergents industry. Therefore, this has a significant benefit, especially for the ethylene oxide market. Moreover, the rapid rise in growth in PET bottle resin market in the emerging economies is likely to trigger the demand for ethylene oxide during the estimated period.
Some of the prominent critical players in the global ethylene oxide market include the Dow Chemicals Company, BASF SE, Indian Oil, INEOS, and LyondellBasell.
The research process starts with the divergence of different market segments of global market for ethylene oxide, followed by detection of factors affecting the growth each segment. Then, the market forecasts are conducted based on the inputs given by the business leaders across global for ethylene oxide industry value chain. Market Krystal held more than 40 interviews for this study, details of which are mentiosned:
By company type: Manufacturers (35%), Suppliers (35%), Consumers (10%), Researchers (10%), Independent industry consultant (10%)
By geography: North America (35%), Asia (30%), Europe (35%)
By designation: Top level (40%), Operation level (30%), Mid-level (30%)