The Europe Ethylene Oxide Market would witness market growth of 4.3% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 3,022.7 Kilo Tonnes, showcasing a growth of 1.7% (2019-2022).
The demand for ethylene oxide is closely tied to the performance of industries that use its derivatives. For example, the automotive and construction industries use ethylene oxide-derived products to manufacture antifreeze, brake fluids, and insulation materials. The healthcare industry uses it for sterilization of medical equipment. The market has experienced steady growth over the years. This growth has been driven by its extensive use in various industries, including petrochemicals, textiles, healthcare, and automotive. Ethylene oxide is a critical chemical for sterilizing medical equipment and supplies. The demand for healthcare services and medical devices has been steadily increasing, contributing to the growth of the market. Ethylene oxide derivatives, such as ethoxylates, produce detergents, personal care products, and surfactants. As consumer preferences for cleaning and personal care products evolve, the demand for these derivatives has also grown.
Ethylene oxide (EO) is a key raw material for producing polyethylene glycols (PEGs), which find applications in pharmaceuticals, cosmetics, and food. The growth of these industries has boosted the demand for PEGs and, in turn, ethylene oxide. Ethylene oxide produces antifreeze and brake fluids in the automotive industry. It is also used to produce insulation materials for the construction sector. The growth in these industries has a positive impact on ethylene oxide demand.
The growth of the petrochemical sector in the UK is closely linked to economic development, industrial expansion, and international trade. As the demand for petrochemical products continues to rise, so does the demand for EO and its derivatives, making them essential components of the UK's chemical industry. The sector's emphasis on innovation and sustainability may also lead to the development of greener and more environmentally friendly petrochemical products in the future.
The textile industry in France is known for its high-quality fabrics, fashion, and technical textiles. As it continues to evolve and adapt to changing consumer preferences and sustainability requirements, there is an ongoing need for innovative textile processing techniques and products to enhance textiles' quality, durability, and sustainability. EO and its derivatives remain essential in meeting these demands, making them integral components of France's textile industry's supply chain. Additionally, adopting eco-friendly and sustainable practices in the textile sector may lead to the developing of greener alternatives to traditional EO-based processes, which in turn will aid in the expansion of the market.
The Germany market dominated the Europe Ethylene Oxide Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,097.4 million by 2030. The UK market is experiencing a CAGR of 3.5% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 5.1% during (2023 - 2030).
Based on Application, the market is segmented into Ethylene Glycol, Ethoxylates, Ethanolamines, Polyols, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Ethylene Oxide Market will Hit $48.2 Billion by 2030, at a CAGR of 4.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Akzo Nobel N.V., BASF SE, Shell plc, Clariant AG, The Dow Chemical Company (Dow Corning Ltd.), Exxon Mobil Corporation, Formosa Plastics Group, LOTTE Chemical Corporation (LOTTE Corp.), Huntsman Corporation, and SABIC (Saudi Arabian Oil Company).
By Application (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Million, 2019-2030)
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