PUBLISHER: Market Research Future | PRODUCT CODE: 1490761
PUBLISHER: Market Research Future | PRODUCT CODE: 1490761
Global Market Research Report on Ethylene Information Analysis By Feedstock (others such as butane, propane, ethane, and naphtha) Agrochemical, Packaging, Automotive, Building & Construction, Agrochemical, Textile, Chemicals, Rubber & Plastics, Soaps & Detergents, Others), By Application (Polyethylene [HDPE, LDPE, LLDPE], Ethylene Oxide, Ethylbenzene, Ethylene Dichloride, Vinyl Acetate, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Forecast to 2030
The market for ethylene was projected to be worth USD 196.2 billion in 2023. During the projected period of 2024-2032, the ethylene industry is expected to increase at a compound annual growth rate (CAGR) of 5.30%, from USD 198.2 billion in 2024 to USD 287 billion by 2032. The ethylene market has grown significantly over the last ten years. Among the things propelling this rise are the building and infrastructure industries' expansion, as well as the rising need for plastics, packaging, and automobile components. It is expected that the market would continue its upward trend due to urbanization, industrialization, and population growth. There are numerous industries that use ethylene. Construction, automotive, and textiles are the next three largest end-use sectors for ethylene, after the packaging industry. In the packaging industry, ethylene is used to make films, canisters, and containers. It is used in the construction industry to produce fittings, pipelines, and insulating materials. Ethylene is used as a raw material in the textile and automobile industries to make synthetic fibers and components including bumpers, door panels, and dashboards.
Due to several notable causes, such as the growing demand for PVC (polyvinyl chloride) in building and pipe applications, the global ethylene industry is expanding rapidly. The ethylene market is significantly impacted by this requirement, which also affects supply and demand dynamics and industrial advancements. Vinyl chloride, a synthetic polymer derived from ethylene, is used to make PVC, a substance with many uses. It is well known for having extraordinary qualities that make it the perfect material for pipelines and construction. PVC is a material that is frequently used for pipelines in a range of construction projects, such as drainage, sewage, and water supply systems. It is very robust and resistant to corrosion. Ethylene is the main ingredient in vinyl chloride, which is the raw material used to make PVC. Demand for PVC rises right once, increasing the amount of ethylene consumed, which in turn boosts the market and ethylene output. The construction and infrastructure sectors are the main users of PVC. The demand for ethylene is rising as a result of infrastructure development projects and urbanization, which are driving these industries' global expansion.
Insights on market segments
Based on feedstock, the ethylene market has been divided into Naphtha, Ethane, Propane, Butane, and Others.
The ethylene market is divided based on its application and consists of Polyethylene, Ethylene Oxide, Ethylbenzene, Ethylene Dichloride, Vinyl Acetate, and Others.
Packaging, Automotive, Building & Construction, Agrochemical, Textile, Chemicals, Rubber & Plastics, Soaps & Detergents, and Others are the end-use industries that make up the segmented Ethylene Market.
Regional Views
North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America make up the five regions that make up the ethylene market. The Asia-Pacific ethylene market is expected to continue holding the top market share and contribute significantly to revenue over the forecast period. In the worldwide petrochemical industry, the Asia Pacific ethylene market holds a leading position. With its strong economic growth, expanding population, and quick industrialization, the region produces a large amount of the world's ethylene. The region's ethylene sector is thriving due to easy availability to a wide range of feedstocks, including hydrocarbon resources like ethane and naphtha. The growth of mega-scale petrochemical complexes, especially in China, South Korea, and Singapore, highlights the region's commitment to boosting its capacity for producing ethylene.
Principal Players
The leading companies in the ethylene market are Repsol, BASF SE, Westlake Corporation, Sasol, Mitsubishi Chemical Corporation, NOVA Chemicals Corporate (Canada), SABIC, Dow, Exxon Mobil Corporation, Shell Global, China Petrochemical Corporation, Chevron Phillips Chemical Company LLC, TotalEnergies, LyondellBasell Industries Holdings B.V., and Repsol.