As per the report published by the experts the global Ethylene Oxide Market estimated to grow at a higher CAGR by the completion of the prediction period. It is an inflammable and vaporous alkylating agent. It is normally utilized in surgery, hospital, dentistry for sterilizing the medicinal tools. Ethylene oxide is likewise utilized for the manufacturing of a number of end user merchandises along with non-user chemical. These end user merchandises consist of plastics, thickeners and detergents, however non-user chemical takes account of organic chemicals similar to ethylene glycol. Ethylene glycol is mostly utilized for the production of polyester fiber and polyethylene terephthalate (PET) resin.
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Key Players:
Some of the important companies
for ethylene oxide market are: Indorama Ventures, Reliance, Al-Jubail
Petrochemical Company, Yansab, Sharq, BASF AG, Sinopec Corp., Shell, Formosa
Plastic Group, Dow Chemical Company, Akzonobel, China Petroleum & Chemical
Corporation, Clariant AG, Honam Petrochemical Corporation, Saudi Basics
Industries Corporation, Royal Dutch Shell, and Exxon Mobil.
Growth Drivers:
Ethylene oxide is similarly,
recognized as oxirane. This is an organic composite. It is a colorless and
inflammable gas. It is extensively utilized through a number of industries for
the manufacturing of medicines, antifreeze, detergents, textiles, adhesives and
solvents. It is also used as fumigant and sterile material in spices, cosmetic
products, in hospitals for sterilization of operating tools, etc. Increasing
demand for polyester fibers and PET resins is estimated to motivate the global
ethylene oxide (EO) market during the period of forecast.
Ethylene oxide is likewise
utilized in the manufacturing of textile and food & beverages. Polyester fibers are broadly utilized in
conveyor belt fabrics, coated fabrics, seat belts etc. while, PET resins are
broadly utilized for the production of containers and bottles in the business
of food & beverages. Demand is increasing for the PET bottles, in this way
demand for ethylene oxide is also growing.
Furthermore, antifreeze is
utilized to decrease the freezing point of water centered fluid in the
automobiles. Growing demand for antifreeze in automobile businesses, boosts the
market for ethylene oxide.
Restraints:
The factor that is restricting
the development of the global ethylene oxide industry is the variations in the
prices of crude oil. This is very significant raw material for its
manufacturing.
Classification:
The global ethylene oxide market
can be classified by Application, Type, End User and Region. By Application it
can be classified as Ethoxylates, Ethylene Glycol Ethers, Ethylene Glycols,
Ethanol Amines, Polyethylene Glycols, Polyethylene, Ethanol amines, Glycol
Ethers and others. By Type, it can be classified as Dow Oxidation, SD
Oxidation, Shell Oxidation and Others. By End User, it can be classified as
Detergents, Personal Care, Food & Beverages, Automotive, Medicines,
Textile, and Agrochemicals.
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