May 22, 2022 19:00 ET | Source: FACT.MR FACT.MR
United States, Rockville MD, May 22, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Ethylene Oxide market is projected to grow at a compound annual rate (CAGR) of 4% between 2022 and 2032. The market is expected to reach US$ 47.6 Billion by the end of 2032. The demand for Ethylene Oxide is expected to rise over the forecast period and the market is projected to gain a global market size worth of US$ 32 Billion by the end of 2022.
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Markets for ethylene oxide are anticipated to grow in response to the growing demand for PET bottles from the packaging industry. The PET bottle manufacturing industry accounts for over half of the global ethylene oxide production. The global ethylene oxide market is gaining momentum through demand from the personal healthcare and automotive industries.
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Due to heightened health consciousness, the healthcare industry has expanded significantly in the market. Increased funding and investments from public and private organizations to improve those infrastructures, in addition to the increased use of well-equipped medical devices, are expected to drive ethylene oxide demand throughout the forecast period.
What Opportunities for Expansion will Asia Pacific offer in the Future?
Growing Demand for Polyamide Fibers Spurs Ethylene Oxide Adoption
The Asia Pacific region is expected to grow at the fastest rate during the forecast period for ethylene oxide. It is predicted that the ethylene oxide industry in Asia Pacific will grow over the next few years, mainly because of the increasing demand for textiles by organizations in countries such as Japan, South Korea, India, and China.
According to our forecast, China is expected to increase at a CAGR of 3.5% through 2032. The market for ethylene oxide in the market will continue to grow in response to the increase in demand for polyester fibers in the development of textile industries in this region. Having the largest production of PET resins, this region has further contributed to the demand for ethylene oxide in the market.
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Key Segments Covered in the Europe Ethylene Oxide Industry Survey
Collaboration between manufacturers increases output and meets consumer demands, which increases profits and market share. Innovations in technologies and the introduction of new products will make the products more appealing to end users. Increasing production capacity can be achieved through strategic partnerships.
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Key players in the Latin America Ethylene Oxide Market
Key Takeaways from Asia Pacific Ethylene Oxide Market Study
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