The ethylene market is anticipated to reach USD 172.37 billion in value by 2030. at a CAGR of 6%,
The lightest organic hydrocarbon, or olefinic hydrocarbon, is ethylene. It is a raw material that is typically derived from a variety of hydrocarbons that are widely employed in the creation of polymers. These include textiles, plastics, and various organic compounds.
The two main feedstocks used to generate ethylene globally are ethane and naphtha. In addition to these, coal, gas oil, propane, butane, methanol to olefins (MTO), and butane are also utilized as feedstocks to produce ethylene.
The COVID-19 epidemic has had a significant impact on several of the major end-use industries in the market, including automotive and construction. The pandemic has also harmed other application areas, such as the chemical and textile industries, which has slowed the expansion of the ethylene sector.
The novel coronavirus presents the participants with a variety of difficulties, including debts, revenue losses, and inadequate supply networks, to mention a few. Despite the growing difficulties caused by the COVID-19 pandemic, businesses must adopt competitive strategies to stay competitive in the global market.
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Market Segmentation
The most popular feedstock-based categories include ethane, naphtha, butane, propane, and others. Throughout the projected period, the naphtha segment is expected to register a faster revenue CAGR. Depending on its source and refining circumstances, it can have a variety of compositions. The result is a complicated combination of hydrocarbons with boiling points ranging from 30 to 220 degrees Celsius and including both straight-chain alkanes and aromatic hydrocarbons.
The main uses of ethylene include ethylene oxide, alpha olefins, ethylene dichloride, ethylene benzene, vinyl acetate, ethylene glycol, and polyethylene. Currently dominating the global market, polyethylene is predicted to keep doing so throughout the study period. The expanded use of HDPE in packaging and transportation will increase product demand, supporting the market’s growth. The market for consumer goods and foodservice will both profit from the rising consumption of polyethylene for plastic containers.
Automotive, Packaging, Agrochemical, Construction, Chemicals, Textile, Soaps & Detergents, and Rubber & Plastics are some of the key end-users that are discussed in the report. The packaging sector is leading and is expected to experience significant growth in the years to come. Because of its strong and lightweight compression properties, ethylene is in high demand and is used to make ethylbenzene and polyethylene, which protect packaged items from crushing and shattering.
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Regional Classification
The Asia Pacific region currently dominates the global market and may see rapid growth during the evaluation period. The significant market expansion in the Asia Pacific region is due to the increased use of polyethylene in the chemical and plastics industries in developing countries like China, Japan, and India.
The growth of these countries’ economies and the ensuing transformation of the consumer lifestyle have increased the demand for performance-based polymers used to make everyday things. Additionally, the region’s expanding middle class has been driving up demand for buildings and cars, which will undoubtedly benefit the ethylene market.
Industry News
Exxon Mobil Corporation stated on November 8th, 2021, that it will be expanding by building a chemical production facility in the Dayawan Petrochemical Industrial Park in Huizhou. This is in Guangdong Province, China.
The Dow Chemical Company announced on October 6, 2021, that it would construct the world’s first ethylene and derivatives complex plant with net-zero carbon emissions.
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