New York (US), May 03, 2023 (GLOBE NEWSWIRE) -- Ethylene Market Overview
The MRFR study reports imply that the “Ethylene Market Research Report Information by Technology, Feedstock, End Users, Region, and Application - Forecast Till 2030”, the global Ethylene market is predicted to bolter substantially during the review era from 2022 to 2030 at a substantial growth rate of around 6.0%. The reports further predict the market will acquire nearly USD 194.7 billion by the end of 2030. As per the documents, the Ethylene market was valued at nearly USD 129.5 billion in 2022.
Market Scope:
The global Ethylene industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the manufacture of polyethylene and its application in the packaging industry. Furthermore, the escalating demand for high-end industrial applications, along with the consumer demand for premium food in suitable packaging across the globe, is also likely to enhance the performance of the market over the review era. In addition, since plastic is used in the industries above for pipes, auto parts, wiring, and other items, development in the automotive and construction sectors is also helping market expansion.
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Competitive Analysis
The listing of the prominent leaders across the global market for Ethylene includes players such as:
- Sabic (Saudi Arabia)
- China National Petroleum Corporation (China)
- Dow (U.S.)
- Lyondellbasell Industries Holdings B.V. (The Netherlands)
- Exxon Mobil Corporation (U.S.)
- Total (France)
- Royal Dutch Shell (Netherlands)
- Chevron Phillips Chemical Company (U.S.)
- China Petroleum & Chemical Corporation (China)
- Repsol (Spain)
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 194.7 billion |
| CAGR | 6.0% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023–2030 |
| Historical Data | 2019- 2021 |
| Forecast Units | Value (USD billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Production of polyethylene and its application in the packaging sector |
Browse In-depth Market Research Report (138 Pages) on Ethylene:
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Market USP Covered
Market Drivers
The global Ethylene industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the manufacture of polyethylene and its application in the packaging industry. Consumers' awareness of the need for safely packaged goods has grown rapidly in the last few years. Furthermore, the escalating demand for high-end industrial applications and the consumer demand for premium food in suitable packaging across the globe are also likely to enhance the market performance over the review era. In addition, since plastic is used in the abovementioned industries for pipes, auto parts, wiring, and other items, development in the automotive and construction sectors is also helping market expansion. Moreover, the factors such as the growing trend towards lightweight plastics, consumers' increasing knowledge of the various kinds & forms of plastic products, and new coronavirus regulations are also projected to catalyze the development of the market over the coming years.
Market Restraints
On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the rising environmental concerns.
COVID-19 Impact
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Ethylene market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
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Segment Analysis
Among all the feedstocks, the naphtha segment is predicted to ensure the top position across the global market for Ethylene over the assessment era. Full-range naphtha, heavy naphtha, and light naphtha- a combination of light and heavy naphtha— are the other three divisions into which it can be divided. One of the most widely utilized feedstocks in the petroleum industry, it is also utilized to make fertilizers. It is also used to make public gas or fertilizers by synthesizing ammonia.
Among all the application areas, ethylene oxide is anticipated to secure the top spot across the global market for Ethylene over the assessment period. It is a gas deployed in the medical sector to sterilize various products, such as wound care dressings, catheters, specialized procedure packs, multi-lumen tubing, and intricately built devices.
Among all the end-use sectors, the packaging category secured the top position in the global market in 2021, mainly due to the rising polyethylene consumables use. Furthermore, the factors such as rising Polyvinyl Chloride (PVC) demand, rising packaging, PET fiber, & bottle demand, and a wide range of packaging uses for Ethylene are also likely to enhance the segment's performance in the coming years.
Regional Analysis
The research reports by MRFR suggest that the Asia-Pacific region is anticipated to hold the top position across the global Ethylene industry over the coming years. The main parameter supporting the regional market's growth is the rise of end-use industries such as packaging, agrochemical, construction, textile, and vehicle. Furthermore, the rapid industrialization and urbanization of developing economies are also likely to enhance the regional market's growth over the coming years.
The European regional market for Ethylene is anticipated to grow considerably during the review era, given the factors such as public and private investment in the region and Europe's continued growth in the building and packaging sectors.
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The North American regional market for Ethylene is anticipated to grow considerably during the review era owing to the factors such as an increase in building activity, strong car sales, a thriving flexible packaging sector, and increased shale oil extraction.
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