Global Market Size, Forecast, and Trend Highlights Over 2023-2035
Alkylene Oxides And Glycols Market size is projected to cross by the end of 2035, growing at a CAGR of 5% during the forecast period, i.e., 2023-2035. The growth of the market can be attributed to the rising consumer demand for superiorly packaged food around the globe. As customers become increasingly concerned about their own environmental footprint and the impact of the entire food chain, sustainable packaging has become a primary issue. According to recent data, more than half (54%) of consumers in Europe, North America, and South America take sustainable packaging into consideration when selecting a product.
In addition to these, factors that are believed to fuel the market growth of alkylene oxides and glycols include increasing usage of alkylene oxides and glycols in polyester film and fiber production, that help the market continue to expand during the projected period. A polyester film is manufactured from a polymer with terephthalnoyl, isosorbide, and ethylene glycol moieties. Further, the polyester film is used to create products including insulators, capacitors, labels, films, and lacquers. Additionally, for polyester and polyethylene terephthalate (PET) polymer, Mono-ethylene glycol (MEG) MEG is a key raw ingredient, which is a flexible chemical that gets along well with water and many organic materials
