According to the market report “Ethylene Oxide Market – Size, Outlook, Trends and Forecasts (2018 – 2024)”, the Global Ethylene Oxide Market is expected to reach USD 40.2 Billion by 2024 with a CAGR of 7.8% over the forecast period (2018 – 2024).
EO (Ethylene Oxide) has a great demand in end-user markets like PET (Polyester fiber’s) which are extensively used in apparel and home furnishing, bed sheets, blankets, upholstered – furniture and computer mouse mats. PET resin is widely used to make bottles and containers that are used in the food and beverage industry.
Industrial polyester fibers are majorly used widely in tyre reinforcements, safety belts, coated fabrics, and fabrics for conveyer belts.
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The growing demand for the usage of ethylene oxide in household cleaning products is contributing to the market growth.
Other downstream products of ethylene oxide, like ethylene glycol ethers, and polyalkylene glycols, are used in brake fluids, detergents, solvents, lacquers, paints, and antifoam agents.
Asia-Pacific followed by North America is seen as the largest ethylene oxide market in terms of CAGR due to the growing demand of EO utilization all over th world in many industries especially chemicals and others. Few of the leading industries in Ethylene Oxide market include Dow Chemical, Eastern Petrochemical Company (SHARQ), Formosa Plastics, Yansab, Shell, Al-Jubail Petrochemical Company, Sinopec, Reliance, Basf, Indorama Ventures and others.
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