Global Ethylene Oxide and Ethylene Glycol Market Insights Forecasts to 2033

• The Global Ethylene Oxide and Ethylene Glycol Market Size was Valued at USD 42.7 Billion in 2023
• The Market Size is Growing at a CAGR of 4.87% from 2023 to 2033
• The Worldwide Ethylene Oxide and Ethylene Glycol Market Size is Expected to Reach USD 68.7 Billion by 2033
• North America is Expected to Grow the fastest during the forecast period.

The Global Ethylene Oxide and Ethylene Glycol Market Size is Anticipated to Exceed USD 68.7 Billion by 2033, Growing at a CAGR of 4.87% from 2023 to 2033.

Market Overview

Ethylene oxide and ethylene glycol are industrial organic intermediates that are used in various end-use industries. The largest application for ethylene oxide is ethylene glycol production. It is also used for making ethanolamines, glycol ethers, polyethylene glycols, and surfactants. The primary ethylene oxide manufacturing process is the direct oxidation of ethylene over a supported silver (Ag) catalyst. Ethylene oxide (EO) is one of the major products of ethylene. It can be made from petroleum-based or bio-based ethylene and is used as an intermediate in the manufacture of plastics, fibers, detergents, and other downstream chemicals. More than 70% of EO is consumed in the production of monoethylene glycol (MEG), a key raw material in polyester fibers and PET bottles, and the main ingredient in antifreeze in the automotive industry. Due to its high boiling point, low viscosity, and hygroscopic nature, widely used in various industrial processes. EO also is used to produce other derivatives including alkoxylates, ethanol amines, and glycol ethers that have various industrial applications. Technological advancements, changing consumer behaviors, regulatory shifts, or global trends are anticipated to drive the market. As the market evolves, several key players will likely emerge as influential forces.

Report Coverage

This research report categorizes the market for the global ethylene oxide and ethylene glycol market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global ethylene oxide and ethylene glycol market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global ethylene oxide and ethylene glycol market.

Driving Factors

The growing demand for antifreeze particularly in textile industries is likely to drive the market demand for ethylene oxide and ethylene glycol. Further, the emergence of new applications of ethylene glycol and oxide including the manufacturing of food and beverages, cosmetics, building materials, and pharmaceuticals, leads to enhanced market growth. The increasing use of bio-based glycols due to their less impact on the environment increases the market growth. In addition, technological advancement for the recovery and reuse of ethylene glycol reduces wastage contributing to driving the global ethylene oxide and ethylene glycol market.

Restraining Factors

The geopolitical factors affecting the supply chain of chemicals hampering the market. Further, the price volatility and fluctuations in raw material costs have led to restrain the market growth of ethylene oxide and ethylene glycol.

Market Segmentation

The global ethylene oxide and ethylene glycol market share is classified into type, application, and end-use industry.

• The ethylene glycol segment is expected to hold the largest share of the global ethylene oxide and ethylene glycol market during the forecast period.   

Based on the type, the global ethylene oxide and ethylene glycol market is categorized into ethylene glycol, ethoxylate, ethanolamine, polyols, and pharmaceutical. Among these, the ethylene glycol segment is expected to hold the largest share of the global ethylene oxide and ethylene glycol market during the forecast period. Ethylene glycol has wide applications in the production of polyester fibers, PET resins, antifreeze solutions, and other products used in automotive, textiles, plastics, and packaging sectors. It is the preferred choice for many manufacturers due to its thermal stability, hygroscopic nature, and compatibility with different materials. Further, advancement in production technologies and sustainable practices leads to drive the ethylene glycol market.

• The polyester fiber segment is expected to hold a significant share of the global ethylene oxide and ethylene glycol market during the forecast period.

Based on the application, the global ethylene oxide and ethylene glycol market is categorized into polyester fiber, polyester resin, antifreeze, polyester film, and others. Among these, the polyester fiber segment is expected to hold a significant share of the global ethylene oxide and ethylene glycol market during the forecast period. Polyester fibers derived from ethylene glycol via polymerization, are widely used in the production of clothes, upholstery, carpets, and technical textiles in automotive and aerospace industries. Thus, innovation in production techniques is expected to drive the market demand in the polyester fiber segment.

• The medical and pharmaceutical segment is witnessing significant CAGR growth through the forecast period.

Based on the end-use industry, the global ethylene oxide and ethylene glycol market is categorized into textile, packaging, automotive, chemical manufacturing, medical & pharmaceuticals, and others. Among these, the medical and pharmaceutical segment is witnessing significant CAGR growth through the forecast period. Ethylene oxide is widely used in sterilization of medical devices. Further, the rising R&D activities and rising need for healthcare products are anticipated to drive the market demand for ethylene oxide and ethylene glycol.

Regional Segment Analysis of the Global Ethylene Oxide and Ethylene Glycol Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia-Pacific is anticipated to hold the largest share of the global ethylene oxide and ethylene glycol market over the predicted timeframe.

Asia-Pacific is projected to hold the largest share of the global ethylene oxide and ethylene glycol market over the forecast period. The medical equipment sector in China has increased during the last five years, with a market size of 840 billion yuan (about $131.81 billion) in 2020. Thus, demand for ethylene oxide for sterilizing medical equipment and supplies has increased. Further, the growing population and urbanization have increased the need for various consumer products, including personal care items, textiles, and healthcare products, all of which use ethylene oxide derivatives. Additionally, the ongoing research and technological advancements in ethylene oxide production processes, such as catalytic and energy-efficient methods, can increase efficiency and reduce production costs, thereby encouraging market growth. According to Japan Paint Manufacturers Association (JPMA), the total paint coatings production in Japan reached 1,645,960 tons during the year 2019. An increase in paint coatings production along with the increasing demand from the textile industry acts as the major driver. Thus, owing to these factors, the ethylene oxide and ethylene glycol market has increased in the Asia-Pacific region     

North America is expected to grow at the fastest CAGR growth of the global ethylene oxide and ethylene glycol market during the forecast period. The growing adoption of energy-saving laws among the people due to rising concern about global warming leads to increased demand for various ethylene oxide and ethylene glycol goods. Thus, the increasing demand including air conditioners is anticipated to drive the market demand. The presence of major automotive players and the PET resin industry is anticipated to enhance the market growth, especially in the US and Canada. The demand for these glycols is closely tied to the growth and activity within textile sectors. As these industries continue to evolve and develop, the demand for DEG, TEG, and EO remains significant in the U.S. region which leads to an increase the market growth in the region

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global ethylene oxide and ethylene glycol market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Dow Chemical Company
• BASF SE
• Shell Plc
• Formosa Plastics
• Sinopec
• Reliance Industries
• Ineos Oxide
• Huntsman
• AkzoNobel
• SABIC
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In January 2022, ExxonMobil and SABIC announced the successful startup of Gulf Coast Growth Ventures world-scale manufacturing facility in San Patricio County, Texas. The new facility will produce materials used in packaging, agricultural film, construction materials, clothing, and automotive coolants.  

• In July 2021, Clariant and India Glycols (IGL) announced the successful creation of their 51-49% joint venture for renewable ethylene oxide (EO) derivatives after receiving all necessary regulatory approvals. The successful closing of this joint venture is expected to strengthen its core portfolio and make Clariant one of the leaders in green ethylene oxide derivatives.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Ethylene Oxide and Ethylene Glycol Market based on the below-mentioned segments: 

Global Ethylene Oxide and Ethylene Glycol Market, By Type

• Ethylene Glycol
• Ethoxylate
• Ethanolamine
• Polyols
• Pharmaceutical

Global Ethylene Oxide and Ethylene Glycol Market, By Application

• Polyester Fiber
• Polyester Resin
• Antifreeze
• Polyester Film
• Other

Global Ethylene Oxide and Ethylene Glycol Market, By End-Use Industry

• Textile
• Packaging
• Automotive
• Chemical Manufacturing
• Medical & Pharmaceuticals
• Others

Global Ethylene oxide and Ethylene Glycol Market, Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa