What is Ethylene oxide?
Ethylene oxide is then flammable colorless gas that is used to produce the other chemical. It is soluble in water. It possesses high vapor pressure. The chemical formula of ethylene oxide is C2H4O. It is produced by the oxidation of ethylene in the presence of a silver catalyst. It is commonly used as a surface disinfectant in the medical and healthcare industry. In sterilization, it is used as a substitute for heat and steam. Ethylene oxide is used in the production of glycol and other plastic.The solvents, adhesive, textile, detergent, pharmaceutical, and antifreeze industries widely use ethylene oxide.
Here are some driving factors of the ethylene oxide market:
The increasing number of surgeries across the globe
According to WHO, the world’s surgical procedure count has increased by 13%, and 310 million surgeries are performed yearly. Ethylene oxide is used for the sterilization of surgical equipment. In addition, it is also used as a surface disinfectant in hospitals. Increasing diseases such as gastroesophageal reflux disease, removing the appendix, and inflammatory bowel diseases lead to surgery. Therefore, increasing the number of surgical operations ultimately drives the demand for ethylene oxide market.
Increasing demand from the textile industry:
Ethylene oxide is used in the textile industry for the production of the chemical which is used to manufacture fabrics for clothes, carpets, and pillows. The fancy lifestyle helped to grow the textile industry. According to IBEF, the Indian textile industry grew by 41% in FY22. Therefore, the growing textile industry ultimately drives the demand for ethylene oxide.
Here are some restraining factors of the ethylene oxide market that may hamper the market growth:
Harmful effects on the human and environment:
Ethylene oxide is a flammable gas when a person is exposed to ethylene oxide it irritates the eyes, throat, and lungs, and it may damage the brain and nervous system. Ethylene oxide pollutes the air. The Environmental Protection Agency has reported 187 air pollutants that may cause cancer, including ethylene oxide. Therefore, harmful effects on humans and the environment may hamper the market growth of ethylene oxide. Proper care and handling are necessary during the use of ethylene oxide.
The market growth for ethylene oxide is driven by the increasing number of surgical operations. The major market players such as BASF SE, SABIC, Dow, and Shell plc. China Petrochemical Corporation is focusing on the development of new products to dominate the market.