Alkylene Oxides and Glycols Market Share

APAC Market Statistics

The Asia Pacific alkylene oxides and glycols market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the high levels of manufacturing and a quickly expanding urban and industrial sector. Further, the growing demand for bottle grade polyethylene terephthalate PET that can be attributed to an increase in demand from the food and beverage industry, which in turn is driven by the convenience of handling PET bottles for products such as salad dressing, water, juices, home cleansers, soft drinks, oil, personal care items, and medications is anticipated to contribute to the market growth in the region. In addition, the region's expanding polymer & plastics industry are also anticipated to boost the market growth during the forecast period. By 2030, more than 55% of the population of Asia will be urban.

Europe Market Forecast

The European alkylene oxides and glycols market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market can be attributed majorly to the increasing demand for packaged foods and drinks. For instance, the majority of consumers between the ages of 20 and 30 are busy working professionals and college students who want assistance with cooking at home. Convenience has significantly influenced the changes in consumer behavior, as they are seeking for novel approaches to utilize their time as effectively as possible. The degree of convenience offered by packaged foods and drinks contributes to a rise in overall market demand in the region. Further, the continued rise of retail food packaging as well as a rebound in the foodservice packaging sector are what are fueling the increase in consumption of packaged food and beverages.