Yahoo Finance Current Trends: Ethylene Market Size & Share to Surpass $ 239.7 Billion by 2028 | Vantage Market Research
WASHINGTON, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Global Ethylene Market is valued at USD 175.9 Billion in 2021 and is projected to reach a value of USD 239.7 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.3% over the forecast period 2022-2028.
The Ethylene market is one of the key important economic sectors, and stable growth is anticipated moving forward. Despite the industry's turbulence, a variety of factors could influence its growth or decline. To give a thorough understanding of the industry, this study evaluates both present trends and projected future changes. It also includes information on the major companies in the market and their growth plans.
The report offers a thorough analysis of global suppliers and producers, as well as their present situation and prospects in the future. Additionally, it provides details on factors driving the global need for Ethylene, such as growing investment requirements, advancing technology, and new laws.
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Market Overview
According to Vantage Market Research, some of the main factors projected accelerating the Ethylene market demand in the coming years. The growing demand for lightweight plastics as well as the rising demand for packaging solutions during the forecast period. The raw material sources and introduction of substitutes are projected to hamper the market growth.
We forecast that the polyethylene category in Ethylene market sales will account for more than 50% in 2021 and is estimated to witness significant growth during the forecast period. The enhanced consumer demand for different plastic-based products across industries such as construction, automotive, healthcare, and others. Furthermore, the increased demand for lightweight vehicles is one of the factors further driving the market growth.
Asia Pacific dominated the Ethylene market, and this trend of dominance to continue during the forecast period. The global ethylene market is projected to expand further due to the rising demand for low-weight automotive vehicles. Besides, North America is projected to witness substantial share in the coming years due to growing demand for plastic-based consumer goods products in the region.
Market Dynamics
Increased Demand for Lightweight Plastics
The rising demand for lightweight plastics is a key trend in the ethylene market. The increasing awareness of various forms of plastic products among consumers to further enhance the development of the market. Moreover, the ethylene manufacturers are shifting towards quality and lightweight packaging to provide enhanced packaging solutions. Therefore, the increased demand for lightweight plastics to enhance ethylene market growth during the forecast period.
Rising demand for polyethylene
The growing adoption of consumer packaged goods owing to changing consumer lifestyles as well as growing demand for polyethylene from food and beverage industry. Furthermore, the rising focus of manufacturers on advanced packaging solutions to enhance quality along with reduce food contamination are presumed to enhance the market growth during the forecast period.
Growing demand for ethylene derivatives
The rising demand for ethylene derivatives across applications to drive the global market growth in the coming years. The growing investments by the players to enhance the manufacturing capacity to drive the market demand during 2022-2028. For instance, in 2021, SCG Chemicals and Braskem signed a Memorandum of Undertaking (MOU) for investment in bio-ethylene manufacturing using ethylene coming from renewable sources.
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Key Points Covered in Ethylene Industry Survey:
Market Estimates and Forecasts (2016-2028)
Key Drivers and Restraints Shaping Market Growth
Segment-wise, Country-wise and Region-wise Analysis
Competition Mapping and Benchmarking
Market Share Analysis
Assessment by Product Grade / Purity / Formulation Standards
Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
Leading Export - Import Destinations
Certifications and Compliance Requirements
COVID-19 Impact on Demand for Organic Acids and How to Navigate
Recommendation on Key Winning Strategies
Top Trends in Global Ethylene Market
One trend that Vantage Market Research (V.M.R.) expects to see in the Ethylene industry is rapid industrilzation and urbanization. The growing demand for electronic as well as automotive products due to urbanization in the emerging economies is presumed to continue in the coming years. Hence, we are expecting a significant demand for ethylene based products in the automotive and consumers electronic products.
Another trend that V.M.R. predicts will continue in the Ethylene industry is growing adoption of bio-based green polyethylene compounds. The increased initiatives for green polyethylene by the key producers of ethylene to further drive the market growth. These components are simple to make and use less energy which is helping the manufacturers to meet the co2 emission targets. Hence, VMR expects the trend to continue in the coming years.
Top Report Findings
Based on type, the coal category is projected to witness lucrative growth during 2022-2028. The key factors for the lucrative growth of natural gas are easier extraction as well as reducing the cost of natural gas.
Based on application, the polyethylene category dominated Ethylene market, and this trend is anticipated to continue. The high demand for ethylene from end-users such as packaging, automotive, construction, agrochemicals, and others to drive the category growth.
Based on end-users, the packaging category dominated Ethylene market, and this trend is anticipated to continue. Due to the growing demand for consumables made of polyethylene along with growing demand for PVC in pipe and construction activities.
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Top 10 Players Generates More Than 45% of the Global Ethylene Market Revenue
The report also found that the largest players in the Ethylene market are technology providers such as BASF SE, Chevron Phillips Chemical Company, LLC, and Exxon Mobil Corporation. These companies are expected to benefit from increased demand for their products and services and growing investments in new mines. Other major players include BASF SE, Chevron Phillips Chemical Company, LLC, Exxon Mobil Corporation, Ineos Group Ltd, LyondellBasell Industries N.V., Royal Dutch Shell plc, Saudi Basic Industries Corporation, China Petroleum & Chemical Corporation (Sinopec), The Dow Chemical Company, Lonza Group. and others. As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market.
Polyethylene Category in Ethylene Market to Generate Over 50% Revenue
Ethylene is an expensive investment. Vantage Market Research has analyzed the market for Ethylene to understand its current state and potential future growth factors. For better understanding, based on application Ethylene market is divided into: polyethylene, ethylene oxide, ethylene dichloride, ethyle benzene, and others.
During the forecast period, the market for Ethylene is anticipated to experience the highest CAGR for the ethylene oxide category. Ethylene oxide is majorly used in medical industry such as wound care dressings, bespoke procedure packs, catheters, and others.
On the other hand, the polyethylene category is anticipated to grow significantly over the forecast period. Polyethylene category is one of the most common type of ethylene used by key end users such as packaging, automotive, construction, and others due to growing consumption of consumables made from polyethylene.
Top Players in the Global Ethylene Market
BASF SE (Germany)
Chevron Phillips Chemical Company LLC (US)
Exxon Mobil Corporation (US)
INEOS Group Ltd. (UK)
LyondellBasell Industries Holdings BV (Netherlands)
Royal Dutch Shell PLC (UK)
Saudi Basic Industries Corporation (Saudi Arabia)
China Petroleum & Chemical Corporation (China)
The Dow Chemical Company (US)
Lonza Group Ltd. (Switzerland)
Global Ethylene Market Segmentation
By Source
Coal
Natural Gas
Hydrocarbon Steam Cracking
By Feedstock
Naphtha
Ethane
Propane
Butane
Others
By Application
Polyethylene
Ethylene Oxide
Ethyl Benzene
Ethylene Dichloride
Others
By End Use
Building & Construction
Automotive
Textiles
Packaging
Agrochemicals
Others
By Sales Channel
Direct Company Sale
Direct Import
Distributors & Traders
By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Browse market data Tables and Figures spread through 143 Pages and in-depth TOC on Ethylene Market Forecast Report (2022-2028).
Recent Developments
November 2021, Exxon Mobil Corporation announced expanding its presence by setting up a chemical manufacturing complex in Dayawan Petrochemical Industrial Park in Huizhou, Guangdong Province in China.
October 2021, The Dow Chemical Company announced to build world's first net-zero carbon emissions plant of ethylene and derivatives complex.
Regional Analysis
The Asia-Pacific region is estimated to have the highest share of the Ethylene Market in 2021. This is attributed to the growing demand for chemicals and plastics from various industries in the region. Various countries in the Asia-Pacific region, such as China, India, Japan, South Korea, and Taiwan, are among the leading producers and consumers of Ethylene. In addition to being the largest producer of Ethylene, China is also the largest consumer of this chemical. The demand for Ethylene from various industries such as construction, automotive, packaging, and electrical & electronics is expected to drive the growth of the market in China. India is another major consumer of Ethylene in the region and is expected to grow at a considerable pace during the forecast period. The increasing demand for polyEthylene terephthalate (PET) from the packaging industry is expected to fuel the growth of the Ethylene Market in India.
Scope of the Report:
Report Attributes | Details |
Market Size in 2021 | USD 175.9 Billion |
Revenue Forecast by 2028 | USD 239.7 Billion |
CAGR | 5.3 % from 2022 to 2028 |
Base Year | 2021 |
Forecast Year | 2022 to 2028 |
Key Players | BASF SE, Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, INEOS Group Ltd., LyondellBasell Industries Holdings BV, Royal Dutch Shell PLC, Saudi Basic Industries Corporation, China Petroleum & Chemical Corporation, The Dow Chemical Company, Lonza Group Ltd. |
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