Market Synopsis:
Market Research Future (MRFR) has published a report on the Global Ethylene Market asserting that the Global Market for Ethylene is anticipated to project significant growth during the forecast period of 2017-2023.
Ethylene is an odorless and colorless flammable gas obtained from petroleum and natural gas and is rarely synthesized in a laboratory. Ethylene provides the basic raw materials used for manufacturing polymers such as polypropylene, polyethylene, butyl rubber, acrylics and others, which is generating a high demand for ethylene in the production of chemicals, leading to the growth of the Global Polyethylene Market. The widespread application of polyethylene in automotive, packaging, construction, agrochemical, textile, and other industries is driving the expansion of the global ethylene market towards higher verticals.
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The application of ethylene in the agriculture industry as a plant hormone that enhances the ripening process of fruits is inducing demand for ethylene in the global market. The increasing use of ethylene polymers in various industrial sectors owing to their features such as durability, flexibility, corrosion and abrasion resistance, and others are fueling the growth of the global ethylene market. The recent advancement in technologies have led to the development of olefins from coal; this progress is likely to impact positively on the expansion of the Global Ethylene Market.
The use of ethylene as an anesthetic agent and welding gas are propelling the demand for ethylene in the global market. The increasing demand for lightweight ethylene products in various industries such as construction, aviation, automotive, and others and inclination towards using ethylene polymers as substitutes are some of the major factors driving the Global Ethylene Market. However, the government regulations for limiting the use of plastic materials and volatility in crude oil prices and concerns regarding the toxic effects of some of the ethylene derivatives are likely to hinder the expansion of the Global Ethylene Market during the forecast period.
Market Segmentation:
The Global Ethylene Market has been segmented on the basis of Application and End-Users.
Based on Application, the Ethylene Market is segmented into polyethylene, ethylene oxide, ethylene benzene, and ethylene dichloride. Among these, the ethylene oxide segment accounts for the fastest growth in the global market due to its substantial application in the production of various ethylene derivatives which are used for manufacturing plastic.
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Based on End-Users, the Ethylene Market is segmented into packaging, automotive, construction, agrochemical, textile, and others. Among these, the packaging segment is projecting significant growth owing to the increasing demand for linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE) in the manufacturing of packaging products.
Regional Analysis:
The Global Ethylene Market is segmented across five major regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these, the Asia Pacific region accounts for the largest market share in the Global Ethylene Market owing to the increased demand for ethylene in automotive, construction, packaging and other industries.
The North America region is projecting significant growth in the Global Ethylene Market due to the increasing investment for the expansion of the end-use industries. The growing innovation and incorporation of advanced technology in thermoplastics and other products are propelling the growth of the Ethylene Market in the Europe region. The increasing utilization of low-density materials in the electronics industry is driving the Ethylene Market in the Middle East and Africa region. Whereas, the increasing demand for thermoplastics in the end-use industries is fueling the expansion of the ethylene market in the Latin America region.
Competitive Analysis:
The players in the Global Ethylene Market are focusing on strategic mergers and acquisitions and increasing research and development expenditure for new product launch in order to expand their businesses in the global market.
In July 2018, Kavian Petrochemical Complex, one of Iran s largest ethylene producers, has published the statistics asserting that the complex s output will rise by 25% as more South Pars Gas Field phases in the Persian Gulf become operational by March 2019.
The major players of the Global Ethylene Market are SABIC (Saudi Arabia), DowDuPont (U.S), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (the Netherlands), China Petrochemical Corporation (China), Total SA (Italy), Chevron Phillips Chemical Company (U.S.), LyondellBasell Industries Holdings B.V. (the Netherlands), National Petrochemical Company (Iran), and INEOS (Switzerland), and others.
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