PUBLISHER: ChemAnalyst | PRODUCT CODE: 1369795
PUBLISHER: ChemAnalyst | PRODUCT CODE: 1369795
India Ethylene Oxide market reached roughly 2000 thousand tonnes in FY2023, and by FY2030 it is anticipated to continue to grow at a healthy CAGR of 6.33%.
Ethylene Oxide is a versatile compound consisting of a significant number of derivates. These derivatives include Mono Ethylene Glycol (MEG), Diethylene glycol (DEG), Triethylene Glycol (TEG), Ethoxylates, Glycol Ethers, Ethanolamines, etc. The compounds derived from Ethylene Oxide find applications in various end-user industries including agrochemicals, textiles, pharmaceuticals, etc. MEG is primarily employed as a raw material alongside PTA in the production of polyester filament yarns, polyester staple fibers, and films made of polyethylene terephthalate. MEG has a wide range of uses in the chemical industry, such as antifreeze in automobiles, alkyd resin, unsaturated polyester resin, coolants, brake fluids, and others. Diethylene glycol (DEG) is used in a wide range of industrial applications. Some of these include additives, humectants, inks, artificial smoke, fire extinguishing sprinklers, deicers for use on roadways and sidewalks, heat transfer fluids, etc.
Ethylene is initially directly oxidized over a silver catalyst to produce aqueous Ethylene Oxide, which is then further refined for commercial application. Production of Ethylene Oxide is carried out in two processes. As a result, another factor that directly affects the demand for and supply of ethylene oxide in India is the production and availability of ethylene. Ethylene Oxide is also in high demand due to its application in sterilizing medical equipment and the growing demand from agricultural businesses for the production of insecticides. Demand for ethylene oxide is steadily increasing, primarily as a result of the massive production of MEG used to make PET and polyester fabrics. Moreover, the increasing consumption of DEG in the plasticizers industry is also contributing to the rising demand for ethylene oxide. The Ethylene Oxide consumption is estimated to grow to approximately 3000 thousand tonnes by FY2030.
As of FY2023, West India holds the largest share of the Ethylene Oxide market which is about 70%, followed by North India. Owing to the location presence of leading textile, automotive, and plastic manufacturers located in the western states of India, West India is anticipated to be the leading consumer even in the forthcoming years. Furthermore, Reliance Industries Limited is the key producer of Ethylene Oxide.
Based on end-use, the India Ethylene Oxide market is segregated into MEG/ DEG/ TEG, Ethoxylates, Glycol Ethers, Ethanolamines, and Others. Among the list, MEG/ DEG/ TEG industry is dominating the Ethylene Oxide market. In FY2023, this industry consumed nearly 90% of the Ethylene Oxide market and is likely to stay so in the forecast period.
Major players fulfilling the Ethylene Oxide demand in India are Reliance Industries Limited, Indian Oil Corporation Limited, India Glycols Limited, HPCL-Mittal Energy Limited (HMEL), and Bharat Petroleum Corporation Ltd. Major players for Ethylene Oxide include BASF SE, SABIC, India Glycols Limited, DowDuPont Inc., Indorama Ventures Public Company Limited, Formosa Plastics Corporation, U.S.A., Royal Dutch Shell Plc., Indian Oil Corporation Ltd., Huntsman International LLC., LOTTE Chemical CORPORATION, Akzo Nobel N.V, and others.
Years considered for this report:
Historical Period: FY2015-FY2023
Base Year: FY2023
Estimated Year: FY2024
Forecast Period: FY2025- FY2030
To extract data for India Ethylene Oxide market, primary research surveys were conducted with Ethylene Oxide manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for India Ethylene Oxide market over the coming years.
ChemAnalyst calculated Ethylene Oxide demand in India by analyzing the historical data and demand forecast which was carried out considering the imports and domestic production coupled with demand from end user industry. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data / import data of Ethylene Oxide to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Ethylene Oxide manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, India Ethylene Oxide market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
With the given market data, ChemAnalyst offers customizations according to a company's specific needs.
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