The North America Ethylene Oxide Market would witness market growth of 4.3% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 7,030.5 Kilo Tonnes, showcasing a growth of 1.3% (2019-2022).
Ethylene oxide is a flammable, colorless gas. In numerous industries, ethylene oxide produces solvents, detergents, adhesives, refrigerant textiles, and pharmaceuticals. Ethylene oxide is also used in fumigants, hospitals to sterilize medical equipment, sterility for spices and cosmetics, and other products. Increasing demand for PET resins and polyester fibers is anticipated to fuel the growth of the market over the coming years.
Oxirane or ethylene oxide is also used in the food, beverage, and textile industries. In the food and beverage business, bottles and containers are frequently made using PET resins. In contrast, polyester fibers are commonly used in coated fabrics, seat belts, conveyor belt fabrics, etc. Ethylene oxide is utilized in the production of every PET bottle. With an upsurge in demand for PET bottles in every company, which are favored by end-users, the demand for ethylene oxide is also rising. Another factor is the rising demand for antifreeze in the automotive industry, which reduces the freezing point of water-based liquid in vehicles.
Triethylene glycol (TEG) is commonly used in the oil and gas industry, particularly in the United States, for natural gas dehydration. It removes water vapor and impurities from natural gas streams, ensuring the safe and efficient transportation of gas through pipelines. TEG is essential for maintaining the integrity and safety of pipelines in the U.S. By preventing the formation of hydrates, and TEG helps prevent blockages and potentially dangerous conditions in natural gas and oil pipelines.
The applications of DEG and TEG in the United States span multiple industries, including oil and gas, chemicals, automotive, textiles, and pharmaceuticals. As of September 2020, the U.S. textile and apparel industry ranked among the top export markets in the world with a $23 billion market for apparel in 2019. The U.S. textile and apparel industry generated $311 billion in revenue in 2019. The demand for these glycols is closely tied to the growth and activity within these sectors. As these industries continue to evolve and develop, the demand for DEG, TEG, and EO remains significant in the U.S. region. Thus, the region presents lucrative growth prospects for the market.
The US market dominated the North America Ethylene Oxide Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7,911.2 million by 2030. The Canada market is exhibiting a CAGR of 6.7% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 5.7% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Ethylene Oxide Market is Predict to reach $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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