Emergen Research

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The global alkylene oxides and glycols market size reached USD 48.08 Billion in 2022 and is expected to register a revenue CAGR of 4.9% during the forecast period, according to latest analysis by Emergen Research. Growing production of PET bottles is a major factor driving market revenue growth.

Growing production of Polyethylene Terephthalate (PET) bottles is driving revenue growth of the alkylene oxides and glycols market. PET bottles are widely used for packaging beverages, food, personal care products, and other consumer goods owing to their excellent properties such as durability, lightweight, transparency, and resistance to chemicals. The manufacturing process of PET bottles heavily relies on alkylene oxides and glycols, primarily ethylene oxide and ethylene glycol, which are used as key raw materials. As the demand for PET bottles continues to increase globally, especially in emerging economies and developing countries, the alkylene oxides and glycols market is experiencing substantial growth in terms of revenue. Rising demand for PET bottles is directly translating into increasing sales and revenue growth of the alkylene oxides and glycols market as more manufacturers seek to meet the rising demand for PET bottles. The global production of Polyethylene Terephthalate (PET) surpasses 82 million metric tons. This extensive manufacturing caters to creation of single-use beverage bottles, packaging materials, clothing, and carpets. PET is a major contributor to ever-growing problem of plastic waste, as it constitutes a portion of the overall plastic waste generated worldwide. This trend is expected to continue as the demand for sustainable packaging solutions grows and the beverage and consumer goods industries continue to expand.

https://www.emergenresearch.com/industry-report/alkylene-oxides-and-glycols-market