Ethylene & Propylene Market Growth Strategies and Outlook 2026: ASF, DuPont, Dow Chemical, ExxonMobil Chemical, LyondellBasell Industries, INEOS, Formosa Plastics Corporation, Sumitomo Chemical, Chevron Phillips

Ethylene is a chemical compound used for synthesizing rubber, plastics, and fibers. Furthermore, it is used for the production of epoxy ethane, polyethylene, acetic acid, styrene, and ethylene dichloride. Ethane and naphtha are major feedstocks used for the production of ethylene.

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Propylene is essentially used for the production of organic chemical compound such as propylene oxide, epoxy chloropropane, and acrylonitrile. Propylene is a byproduct of natural gas and oil refining process. Propene derivatives such as polypropylene, cumene, acrylic acid, propylene oxide, and others are utilized in construction, textiles, packaging, and automotive industries. According to the report released by the Global Construction Perspectives and Oxford Economics on November 10, 2015, the construction industry revenue is expected to grow by 85% to reach US$ 15.5 trillion by 2030, globally. The construction industry is predominated by the U.S., China, and India, together contributing a volume share of around 60% in the global construction market.

Market Dynamics

The demand for petrochemicals such as ethylene and propylene is expected to increase in the near future, attributing to growth of fiber and polymer industries. Moreover, rising demand for ethylene & propylene from various end-use industries is projected to upsurge the revenue for ethylene & propylene market over the forecast period.

Stringent environment regulations, volatile raw material prices, and political instability in crude oil producing countries are major restraints that are expected to hamper growth of the market in the near future. However, the expansion of production capacities of companies and increasing demand for downstream products from emerging economies such as China and India are expected to increase demand for ethylene and propylene in the near future.

Market Outlook

Among derivatives, polypropylene segment held the largest share in the ethylene & propylene market, owing to increasing demand from various end-use industries such as manufacturing and automotive industries. Moreover, polypropylene is used in construction chemicals, automobile accessories, and textile production.

Among application, high-density polyethylene (HDPE) segment held a significant market share in the global ethylene & propylene market in 2017, owing to rising usage of HDPE in the production of plastics. Polyethylene find its applications in packaging, manufacturing, construction, and automotive industries, owing to its features such as resistivity to heat & chemicals and high tensile properties. According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2017, China was the largest producer of automobiles. This resulted in increasing demand for polyethylene from automotive industry.

Among region, Asia Pacific is expected to hold dominant position in the global ethylene & propylene market over the forecast period, owing to increasing demand for an ethylene-based derivative such as polyethylene resin and ethylene glycol from end-use industries such as manufacturing and automotive industries. China is the largest coal consuming country in Asia Pacific utilizing methanol-to-olefins (MTO) and coal feedstock to produce ethylene. Subsequently, lowering the cost of production and expanding the ethylene production capacity of the country is expected to increase demand for ethylene & propylene in the near future.
Key Players

Key players operating in the global ethylene & propylene market include ASF, DuPont, Dow Chemical, ExxonMobil Chemical, LyondellBasell Industries, INEOS, Formosa Plastics Corporation, Sumitomo Chemical, Chevron Phillips, and Saudi Basic Industries Corporation.

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Market Taxonomy

On the basis of derivative, the global ethylene & propylene market is segmented into:

Propylene Oxide
Polypropylene
Cumene
Acrylonitrile
Others (Acrylates, Alcohols, Isopropanol, and Butanol)
On the basis of application, the global ethylene & propylene market is segmented into:

High-density Polyethylene (HDPE)
Linear Low-density Polyethylene (LLDPE)
Low-density Polyethylene (LDPE)
Petrochemical Intermediates

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