Ethylene Market 2023 | Emerging Technologies, Business Trends | Saudi Basic Industries Corp, Exxon Mobil Corporation

As per the report published by The Brainy Insights, Global ethylene market is expected to reach USD 161.61 Billion by 2028, at a CAGR of 8.3% from 2021 to 2028.The Asia Pacific region emerged as the largest market for the Ethylene market, with a market value of 26.42 billion in 2020. This is due to the rapid industrialization and expansion of end-user industries such as packaging, automotive, construction, agrochemical, textile, and others in the region. Fast-paced industrialization and urbanization in emerging economies coupled with the presence of major agricultural countries in this region have resulted in high demand for polyethylene-based products. There is urbanization and industrialization happening at a rapid pace in the emerging economies in the region like China, India etc. Also, the cheap labour and availability of raw materials in the region are also helping in the spreading of the market in the region. Due to rapid urbanization, the construction industry is very much prospering in the emerging economies. Also, the use of advanced material in the construction of building is driving this market. North America is expected to have the highest CAGR in the forecasting period.

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Ethylene Market Size by Feedstock (Naphtha, Ethane, Propane, Butane), Application (Polyethylene, Ethylene Oxide, Ethyl Benzene, Ethylene Dichloride), End User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028

Key players in the global Ethylene market include Saudi Basic Industries Corp, Exxon Mobil Corporation, Dow DuPont Inc., Royal Dutch Shell plc, China Petroleum & Chemical Corporation, Chevron Phillips Chemical Company LLC, LyondellBasell Industries N.V., The National Petrochemical Company, BASF SE and Lonza Group among others.

The feedstock segment is divided into Naphtha, Ethane, Propane, Butane and Others. As of 2020, Naphtha is the leading feedstock segment of the global ethylene market with a market value of USD 23.34 Billion. Ethane is followed by Naptha, which is the largest source of feedstock in most parts of the world. Ethylene is also widely in demand by textile, construction, packaging and plastics market. The application segment includes Polyethylene, ethylene oxide, ethylbenzene, ethylene dichloride and others. As of 2020, Polyethylene is the leading application segment of the global ethylene market with 56.18%. The demand form consumable goods segment like packaging materials, residential purposes goods, films and articles for large industrial uses are the market drivers for the market. Ethylene Oxides are broadly used in end-user segments which includes polyester films, PET bottles and fibres. Hence growth of ethylene oxide is predicted to have the highest growth rate in the near future. The end-user segment includes building & construction, automotive, textiles, packaging and agrochemicals. In terms of end-users, the packaging segment held the highest market value of USD 24.47 Billion in 2020. Agrochemicals will be the fastest-growing segments during the forecast period

The volatile prices of crude oil is one of the restraining forces. The fluctuating prices of crude oil, which is essential for the production of ethylene and its derivate are the major restraint for the market.

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