The Global Ethylene Market is growing rapidly over the past few years. The market growth attributes to the wide usages ethylene in the making of various products such as ethylene oxide, polyethylene, ethylene benzene, ethylene glycol, ethylene dichloride, alpha-olefins, vinyl acetate, and others. In the year 2017, Global Ethylene production had reached 165 million metric tons, which is expected to grow significantly over the forecast period.
According to Market Research Future (MRFR), the Global Ethylene Market is expected to grow at exponential valuations by 2025. In its recently published analysis, MRFR also asserts that the market would further register over 6% CAGR during the forecast period (2019–2025). Extensive use in the production of polyethylene led by the polyethylene in packaging application is a key driving force expected to propel the market demand in the coming years.
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Additionally, factors such as the dramatically rising end-use such as packaging, automotive, construction, agrochemical, textile, chemicals, rubber & plastics, soaps & detergents, substantiate the growth of the market. The packaging industry has been witnessing robust growth, which would continue in the coming years, leading to increasing the demand for ethylene. Besides, the massive consumption of Ethylene in the manufacturing of food packaging, automotive, among others, would foster the growth of the market.
However, Ethene is a part of a group of substances known as volatile organic compounds (VOCs), and hence, stringent regulations imposed by the government on its use are projected to restrain the market growth during the forecast period. Nevertheless, increasing investments in the construction and infrastructural development sector would support the growth of the market, creating a huge demand for polyethylene and ethylene.
Global Ethylene Market – Segmentations
The report is segmented into four dynamics to widen the scope of understanding,
By Feedstock: Ethane, Naphtha, Butane, Propane, and others
By Application: Ethylene Oxide, Polyethylene, Ethylene Benzene, Ethylene Glycol, Ethylene Dichloride, Alpha Olefins, Vinyl Acetate, and Others
By End-use Industry: Packaging, Automotive, Construction, Agrochemical, Textile, Chemicals, Rubber & Plastics, Soaps & Detergents, and Others.
By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Ethylene Market – Geographical Analysis
The Asia Pacific region leads the Global Ethylene Market. The largest share of the market attributes to the rapidly expanding textile and packaging industries in the region. The region has the largest packaging and textile industry across the globe, which are further expected to multiply over the forecast period. Moreover, the rising demand for hygienic packaging in the pharmaceutical and food sector is expected to create significant market demand.
Moreover, rapidly expanding end-use industries such as packaging, automotive, construction, agrochemical, textile, and others in the region are further expected to propel the regional market growth during the forecast period. Besides, rapid industrialization and urbanization alongside, the presence of major agricultural countries in this region are resulting in high demand for polyethylene-based products.
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Ethylene markets in North America and Europe are too growing significantly, owing to the stringent government regulations for the use of VOC emitting substances. The US Environmental Protection Agency and the European Chemicals Agency regulate the use of ethylene through the Clean Air Act, Clean Water Act, European Directive, EC Ambient Air Daughter Directive, and the European Solvents Directive.
Global Ethylene Market – Competitive Landscape
The Ethylene Market appears to be competitive and fragmented with the presence of many large and small-scale players, who, along with the new entrants, form a competitive landscape. To gain a substantial market share, players initiate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/technology launch. They invest colossally in R&D to develop new manufacturing techniques and the product with unique properties that are entirely different compared to their competition.
Players Leading the Global Ethylene Market include Dow (US), SABIC (Saudi Arabia), Exxon Mobil Corporation (US), China Petroleum & Chemical Corporation (China), Royal Dutch Shell (Netherlands), Chevron Phillips Chemical Company (US), LyondellBasell Industries Holdings B V (the Netherlands), Total (France), China National Petroleum Corporation (China), BASF SE (Germany), Repsol (Spain), Westlake Chemical Corporation (US), Mitsubishi Chemical Corporation (Japan), Sasol (South Africa), and NOVA Chemicals Corporation (Canada), among others.
September 17, 2019 —- ExxonMobil Corporation (the US), a leading global oil and gas company, announced an investment of £140 MN to reduce flaring at and improve infrastructure at a Fife ethylene plant. The company said the move would support around 850 local construction jobs and benefit 40 local suppliers over the next two years.
ExxonMobil said the investment would go toward the development of technologies that can reduce the impact of flaring, including a state-of-the-art flare tip, which would reduce noise & vibration, meeting the Scottish Environment Protection Agency’s (SEPA) instruction.
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