About Ethylene Oxide and Ethylene Glycol
Ethylene oxide is a chemically reactive material. It is used for manufacturing ethylene glycols, glycol ethers, ethanolamines, surface-active agents, and polyether polyols. Ethylene glycol is a clear, viscous, versatile organic compound that is a hydroscopic liquid at room temperature. It is used in the manufacture of polyester films, fibers and PET resins, and antifreeze agent for water-based coolants.
Technavio’s analysts forecast the global ethylene oxide and ethylene glycol market to grow at a CAGR of 5.82% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global ethylene oxide and ethylene glycol market for 2016-2020. To calculate the market size, the report considers the revenue generated from several applications of ethylene oxide and ethylene glycol in different end-user segments.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Ethylene Oxide and Ethylene Glycol Market 2016-2020
Technavio recognizes the following companies as the key players in the global ethylene oxide and ethylene glycol market: BASF, DOW, Huntsman, Shell, and SABIC.
Other Prominent Vendors in the market are: AkzoNobel, Farsa Chemical, Formosa Plastics, Ineos Oxide, LyondellBasell Industries, Reliance Industries, and Sinopec.
Commenting on the report, an analyst from Technavio’s team said: “Major vendors developing feedstock flexibility will be a trend for market growth. Prominent vendors in the market are investing significantly in the expansion of their ethylene capacities to benefit from the abundant and inexpensive natural gas liquids feedstock in different regions. International oil and gas companies are also investing in the development of infrastructure to export the natural gas feedstock. The increased production capacity and the low cost of ethylene production can cause an oversupply of ethylene in the market, thereby reducing the prices. Feedstock selection depends on the availability and pricing of the feeds; lower feed cost boosts profitability. The flexibility of the feedstock will allow plants to switch partially to oil-based or gas-based feeds.”
According to the report, growing demand for antifreeze agents in automobile sector will be a driver leading to market growth. Increasing industrialization, development of infrastructure, and changing lifestyles in emerging economies are increasing the demand for antifreeze agents in the market. The antifreeze agents market in India is anticipated to grow at 6% over the forecast period due to the growth in the automobile and oil sectors. The global automotive antifreeze agents market is projected to post a CAGR of 6.19% between 2015 and 2020 to reach $720 million in 2020.
Further, the report states that shortage of raw materials will be a challenge for the market. Natural gas and crude oil are the prime raw materials for the production of ethylene glycol. Their availability and supply are crucial for the smooth production of ethylene glycol products. The market is facing a shortage of raw materials, which will affect the demand and supply of ethylene glycol in the market. This is due to constant fluctuations in the prices of crude oil, which is essential in the production of ethylene glycol.
BASF, DOW, Huntsman, Shell, SABIC, AkzoNobel, Farsa Chemical, Formosa Plastics, Ineos Oxide, LyondellBasell Industries, Reliance Industries, Sinopec.