Ethylene Market Overview, with Recent Technologies, Applications, Growth, Insights and Status 2024

Ethylene is a colorless flammable gas with a musky odor. It is the simplest alkene and unsaturated hydrocarbon after acetylene. It is extensively used in agriculture as a plant hormone to ripen fruits. It is also used in the chemical industry to produce ethyl benzene, polyethylene, ethylene dichloride, and ethylene oxide. The ethylene market is expected to grow on account of the rising demand for the gas from end-use industries, such as consumer electronics, packaging, and food and beverage.

Get a free sample copy of this report @ https://www.psmarketresearch.com/market-analysis/ethylene-market/report-sample

Based on region, the market is categorized into Europe, North America, Asia-Pacific (APAC), Latin America, and the Middle East and Africa. Among all these regions, APAC held the largest share in the ethylene market during the historical period, mainly driven by the demand for ethylene-based derivatives from end-use industries, such as packaging, automotive, and construction. In the coming years, the region will continue leading the market globally, on account of the growth in the manufacturing industry in countries such as China, India, and Vietnam.

The major factor restraining the growth of the ethylene market is the implementation of stringent government regulations pertaining to the production and use of ethylene. As ethylene is combustible and carcinogenic in nature, stringent regulations on its usage hamper its market growth. Moreover, several countries are implementing legislations for environment protection, which is likely to put pressure on the companies engaged in the production of the hydrocarbon-based gas. In addition, volatility in the feedstock cost is hindering the growth of the market to some extent.

The major trend being witnessed in the global ethylene market is the increasing investments aimed at boosting the production capacity for the gas. Owing to the large-scale application of ethane gas in various industries, many companies engaged in its production are working toward expanding their production capacities. For instance, in August 2018, ExxonMobil and Saudi Basic Industries Corporation, under a joint venture, announced their decision to construct the world’s largest ethylene production plant, estimated to be developed at a cost of $1.4 billion.

Browse a overview of this report @ https://www.psmarketresearch.com/market-analysis/ethylene-market

Some of the major players operating in the global ethylene market are DowDupont Inc., BASF SE, ExxonMobil Corporation, Chevron Phillips Chemical Company, Formosa Plastics Corporation, INEOS Group, Sasol Limited, Shell Chemical LP, Saudi Basic Industries Corporation, China Petroleum & Chemical Corporation, LyondellBasell Industries N.V., National Petrochemical Company, and Westlake Chemical Corporation.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.