Ethylene Market Overview to 2023
Ethylene is an odorless and colorless flammable gas obtained from petroleum and natural gas and is rarely synthesized in a laboratory. Ethylene provides the basic raw materials used for manufacturing polymers such as polypropylene, polyethylene, butyl rubber, acrylics and others, which is generating a high demand for ethylene in the production of chemicals, leading to the growth of the global polyethylene market. The widespread application of polyethylene in automotive, packaging, construction, agrochemical, textile, and other industries is driving the expansion of the global ethylene market towards higher verticals.
Some of the well-known players operating in the global ethylene market are SABIC (Saudi Arabia), DowDuPont (U.S), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (the Netherlands), China Petrochemical Corporation (China), Total SA (Italy), Chevron Phillips Chemical Company (U.S.), LyondellBasell Industries Holdings B.V. (the Netherlands), National Petrochemical Company (Iran), and Ineos (Switzerland), among others.
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It is estimated that the packaging segment is set to observe the highest CAGR in the market due to growing use of thermoplastics in containers, molded bottles, and other applications. The increasing demand for lightweight materials in construction & buildings, aviation sectors have propelled the market to witness a rapid growth during the forecast period. These factors led to China, Japan and India to be the leading players in this region.
- Ethylene market manufacturers
- Traders and Distributors of Ethylene market
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
Among the various segments in ethylene market, the polyethylene segment has witnessed a significant growth due to its extensive use in plastic bags, plastic films, geomembranes, and others. It is estimated that the ethylene oxide segment is set to grow at a higher CAGR on account of increasing demand for the product in automotive coolants, industrial coolants, detergents, and others. It is widely used as an intermediate in the production of flexible and rigid polyurethane foams, brake fluids, water-soluble solvents, and others. The market by application is segregated into packaging, automotive, construction, agrochemical, textile, and others. The packaging segment is projected to expand at a significant rate due to extensive consumption of thermoplastics and polyurethanes in packaging bags and tubing, extruded packaging films, and others.
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These materials increase the efficiency and add to the performance of the final product. The automotive industry is set to grow at a higher rate owing to the growing consumption of the product in brakes, clutches, seats, and others. It is mainly used to impart low-density nature, processing ease, and safety to the final product. Moreover, it is predicted that the construction and textile segments are set to grow at a rapid rate on account of extensive use of thermoplastics in the respective sectors.
The Middle East & Africa region is estimated to witness a recognized development in the market due to the growing consumption of low-density materials in smartphones, tablets, and other electronic gadgets Moreover, Latin America is anticipated to witness a higher growth in the market due to increasing demand for thermoplastics in the end-use industries.
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