Press release
Light Olefins Market Shares 2023 - Royal Dutch Shell, Petrochina, Reliance Industries Limited, China Petro & Chemical Corp, DowDuPont, Exxon Mobil Corporation, Gazprom, Saudi Arabian Oil Co., BASF SE, and Honeywell International
Light Olefins Market: Consumption of Plastic Goods to stimulate the growth during the Forecast Period
The Light Olefins Market is categorized on the basis of Product Type, Derivatives, Application and Region.
On the Basis of the Product Type, the market is bifurcated into ethylene and propylene. The ethylene accounted for the largest market share of 60% in 2016, with a market value of USD 152.7 billion and is projected to grow at a CAGR of 5.78% during the forecast period.
On the Basis of the Derivatives, the market is segmented into polypropylene, propylene oxide, acrylonitrile, cumene, acrylic acid, oxo alcohols, polyethylene, ethylene oxide/ glycol, EDC/ VCM/ PVC, styrene, alpha olefins, and acetate monomer.
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By the Application, the market is sub-segmented into chemical commodities and refinery.
Based on the Region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Competitive Analysis
Some of the major players operating the market growth are BASF SE (Germany), China Petro & Chemical Corp (China), Saudi Arabian Oil Co. (Saudi Arabia), Exxon Mobil Corporation (U.S.), DowDuPont (U.S.), PetroChina (China), Honeywell International Inc. (U.S.), Gazprom (Russian Federation), Royal Dutch Shell (Netherlands), Reliance Industries Limited (India), and others.
Key Findings
Global Light Olefins Market is projected to reach USD 475.8 million by 2023 at an expanding CAGR over the forecast period.
Ethylene Type accounted for market share of 60.00% in 2016.
Propylene type valued at USD 101.9 billion in 2016 and is projected to grow at a CAGR of 5.94% during the forecast period.
Asia Pacific is the largest and fastest growing market accounting for 40% share of the global market in 2016. Royal Dutch Shell is the leading manufacturer of Light Olefins.
Intended Audience
Light Olefins manufacturers
Traders and distributors of Light Olefins
Production process industries
Potential investors
Raw material suppliers
Regional Analysis
The Global Light Olefins Market has been spanned across five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific emerged as the leading Light Olefins Market in 2016 and is accounted for 40% of the overall value share and is expected to grow at a healthy CAGR of 6.22% over the forecast period. Furthermore, the increasing demand for efficient and high performance based automotive in countries such as Japan, India, and China is driving the demand for bio-fuel. The availability of cheap biomass and raw material such as corn and sugarcane to produce bio-ethylene in India has augmented the market growth.
North America was the second largest region and was valued at USD 151.1 billion in 2016 and is projected to grow at a healthy CAGR of 5.6% during the review period. The feedstock advantage coupled with the low cost supply of ethane is one of the major driver of the market growth in the North American region. The high demand from packaging industry in the U.S. is driving the market growth positively. The U.S. accounted for around 78% of market share in 2016 and is projected to grow at a healthy CAGR of 5.72% during the review period.
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