Albany, NY -- (SBWIRE) -- 04/24/2014 -- According to Transparency Market Research “Ethylene Oxide Market & Ethylene Glycol Market: Global Industry Analysis, Raw Material and Consumption, Trends, Size, Share and Forecast, 2012 – 2018”, global ethylene oxide market was worth USD 29,019.1 million in 2011 and is expected to reach USD 42,632.1 million in 2018, growing at a CAGR of 5.7% from 2013 to 2018. In the overall global market, Asia Pacific dominates the ethylene oxide market, accounting for over 63% of the total Transparency Market Researchdemand in 2011.
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North America and Western Europe being mature markets are expected to grow at a sluggish rate. Asia Pacific, Central Europe, Middle East and South American market will drive ethylene oxide demand in the years to come. Whereas, the global market for ethylene glycol was estimated to be worth USD 20,434.3 million in 2011 and is expected to reach USD 30,814.2 million by 2018, growing at a CAGR of 6.1% from 2013 to 2018. Monoethylene glycol (MEG) is the most important ethylene glycol which accounts for over 90% of the overall ethylene glycol production. Asia pacific is the biggest market for ethylene glycol.
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The global ethylene oxide & ethylene glycol market is driven by growing demand from PET bottle manufacturers and textiles industry and growing global demand for antifreeze in auto industry. Globally major use of ethylene oxide is for the production of ethylene glycol (76%) and ethoxylates (14%). And globally about 45% of the ethylene glycol is used for the production of PET bottles.
Over the last decade demand of ethylene oxide and ethylene glycol has increased considerably due to growing demand for PET bottles for storing water and carbonated drinks mainly due to increase in the disposable income of people globally. Ethylene oxide is also used to produce ethoxylates which is further used to manufacture surfactants (detergents) so growing demand for house hold detergents is also helping the ethylene oxide market to grow. The market for PET was estimated to be worth USD 8,410.2 million in 2011 and it is expected to reach USD 13,042.9 million in 2018.
Water Treatment Chemicals Market: http://www.transparencymarketresearch.com/water-treatment-chemicals-market.html
The major geographic market for ethylene oxide is Asia Pacific, accounting for about 64% of the global demand in 2011. Asia Pacific is also the biggest market for ethylene glycol. Overall, Asia pacific owing to huge domestic demands is the largest market for both ethylene oxide & ethylene glycol and is expected to be the fastest growing market in the next five year, growing at a CAGR of 4.9%.