Westford, USA, Oct. 15, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Ethylene market will attain a value of USD 194.7 billion by 2031, with a CAGR of 6% over the forecast period (2024-2031). Rapidly surging demand for packaged products and growing advancements in packaging technology are projected to augment the demand for ethylene in the near future. The increase in use of ethylene derivatives in multiple industry verticals is also estimated to create new opportunities for ethylene companies in the future.
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Browse in-depth TOC on "Ethylene Market" Pages – 197, Tables – 95, Figures – 76
Ethylene Market Report Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 129.5 Billion |
| Estimated Value by 2031 | $ 194.7 Billion |
| Growth Rate | Poised to grow at a CAGR of 6% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Feedstock, Application, End-Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information/product portfolio of players |
| Key Market Opportunities | High demand for lightweight materials |
| Key Market Drivers | Growing demand for packaging around the world |
Polyethylene Projected to Account for the Highest Ethylene Demand through 2031
Rapidly surging use of low-density and high-density polyethylene products in multiple industry verticals ranging from packaging to automotive are slated to help the dominance of this segment. High demand for lightweight products in different industry verticals is also expected to help ethylene companies generate substantial revenue in the future. Emphasis on sustainability is also a key factor promoting the demand for low-density polyethylene products.
Demand for Ethylene in Automobile Industry is Slated to Surge at a Noteworthy Pace Going Forward
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The rising emphasis of vehicle manufacturers on reducing weight to comply with strict emission mandates and improve vehicle efficiency are slated to help promote the use of ethylene in the future. Growing use of lightweight components for manufacturing vehicles and the use of ethylene in engine coolant and antifreeze manufacturing will also create new business scope for ethylene providers in the long run.
Asia Pacific Region Takes the Crown When It Comes to Global Ethylene Demand Outlook
The Asia Pacific region is home to some of the most prominent industrial organizations in the world including a vast range of verticals ranging from food & beverages to automotive. High demand for packaging, rising automotive manufacturing activities, e-commerce boom, and increasing disposable income are some key factors that can directly or indirectly favor the sales of ethylene going forward. India and China are estimated to be the top markets in this region.
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Ethylene Market Insights:
Drivers
- High demand for ethylene derivatives
- Rising use of ethylene in packaging products
- Growing demand for packaged products around the world
Restraints
- Fluctuations in raw material pricing and availability
- Stringent regulatory mandates for ethylene use
Prominent Players in Ethylene Market
- Royal Dutch Shell
- ExxonMobil Corporation
- Sinopec
- LyondellBasell Industries N.V.
- Saudi Basic Industries Corporation (SABIC)
- Dow Chemical Company
- Total S.A.
- Chevron Phillips Chemical Company
- Formosa Plastics Corporation
- INEOS Group AG
Key Questions Answered in Ethylene Market Report
- What drives the global Ethylene market growth?
- Who are the leading Ethylene providers in the world?
- Which region leads the demand for Ethylene in the world?
This report provides the following insights:
- Analysis of key drivers (high use of ethylene derivatives, growing demand for packaging products), restraints (fluctuations in raw material availability and pricing, strict regulations regarding ethylene use), and opportunities (rising demand for lightweight products in multiple industries), influencing the growth of Ethylene market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Ethylene market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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