Ethylene Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Ethylene Market
The ethylene market size was valued at USD 166.520 billion in 2019, and the market is now projected to grow from USD 166.520 billion in 2019 to USD 245.005 billion by 2027, exhibiting a CAGR of 5.6% during the forecast period of 2020-2027.
The COVID pandemic has hit the chemical enterprise and has brought operations and alternate sports to a halt. This brought about a decline in the call for the ethylene market growth, which, in flip, triggered disruptions inside the supply chain. The global lockdown has resulted in a sizeable economic effect on trading and manufacturing activities inside the chemical sector, which similarly impacts the pricing dynamics. However, marketplace intelligence may be stabilised due to the excessive demand for PE in packaging packages. The coronavirus has accelerated the recognition of a few patrons for public and private hygiene to guard against the virus. The packaging industry has seen a hike due to the high demand for sanitised and hygienic packaged food products.
The growing consciousness among customers for safe packaged products has brought about the demand for plastic solutions in the market. Demand has risen sharply for plastic packaging solutions for diverse packages in groceries, e-commerce healthcare merchandise, and transportation. Additionally, demand for luxury commercial programs is also predicted to develop and increase the ethylene market share. The customers are stressed with exquisite meals with proper packaging solutions, and as a result, they are riding the market. Moreover, growth in the car and creation activities are also supporting the marketplace increase as plastic is used for wiring, automobile elements, pipes, and others within the respective industries. Furthermore, growing applications in agriculture, science, and different sectors are also riding the ethylene market size.
Additionally, the developing fashion for lightweight plastics as a result of consumer convenience is developing new possibilities for smalland massive-scale beauty corporations. The growing attention to various kinds and varieties of plastic merchandise among consumers will further aid the improvement of the market. The rising trend for lightweight plastic material inside the car and creation industries is adding to the demand.
Comprehensive Analysis of the Ethylene Market
Based on application, the ethylene market is segmented into excessive-density polyethene, low-density PE, ethylene oxide, ethylbenzene, and others. The LDPE phase ruled the marketplace in 2019 due to developing consumer demand for the various plastic-primarily based merchandise from diverse industries along with car, creation, scientific, and others. These plastic merchandise include boxes, allotting bottles, and tubes. Moreover, the trend for lightweight motors is a component that is further helping the market length.
Asia Pacific dominated the ethylene market with a market share of .04% in 2019, which can be attributed to the increasing demand for PE from the plastic industry and chemicals from the chemical industry from developing countries such as China, India, and Japan. The economic development within these countries has led to an improvement in the lifestyle of consumers causing high demand for quality-based plastic for daily essential use products. Moreover, the growing middle-class population is further fueling the demand for construction activities and automobiles.
The top players in the market play a crucial role in the industry, assuring industrial prospectus growth and setting market standards. These players include Reliance Industries Limited (India), China Petroleum & Chemical (China), LyondellBasell Industries Holdings (Netherlands), Exxon Mobil Corporation (U.S.), Shell International (Netherlands), SABIC (Saudi Arabia), BOREALIS AG (Austria) and BRASKEM SA (Brazil); these market players provide a level-playing competitive landscape.
In October 2019, Sinopec Sabic Tianjin Petrochemical Co. Ltd. And Saudi Arabia’s SABIC had a joint project for an enlargement assignment at Tianjin ethylene plant. The project will increase the manufacturing capacity to at least one.3 million lots annually.
Segmentation Table
Global Ethylene Market Scope
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Growth Rate CAGR of 5.6% from 2024-2032
Historical Period 2016-2018
Unit Value (USD Billion)
Segmentation By application, and Region
By application
HDPE
LDPE
Ethylene Oxide
Ethyl Benzene
Others
By Region
North America (By application, and Country)
U.S. (By application )
Canada (By application )
Europe ( By application, and Country )
U.K. (By application )
Germany (By application )
France (By application )
Italy (By application )
Spain (By application )
Rest of Europe (By application )
Asia Pacific ( By application, and Country )
China (By application )
Japan (By application )
India (By application )
South Korea (By application )
Rest of Asia Pacific (By application )
Latin America ( By application, and Country )
Brazil (By application )
Mexico (By application )
Rest of Latin America (By application)
Middle East & Africa ( By application, and Country )
Saudi Arabia (By Application)
Egypt (By Application)
Rest of Middle East & Africa(By Application)