Fort Collins, Colorado, Jan. 03, 2024 (GLOBE NEWSWIRE) --
The Ethylene Market size was valued at USD 172.4 Billion in 2022 and is anticipated to reach USD 291.1 Billion by 2032 at a CAGR of 5.5%.
The demand for ethylene is increasing globally, particularly in the Asia-Pacific region, where various types of polyethylene are widely used. The trend towards bio-based products will affect the industry's growth. Lightweight plastics are becoming more popular, creating new opportunities for cosmetic companies.
The ethylene market is being driven by the growth of packaging, which has seen a significant increase post-pandemic due to the rise of e-commerce and the trend of eating on the go. As a result, there is a growing demand for plastic packaging material, leading to an increased demand for ethylene.
The construction and automotive industries also see a rise in demand for lightweight plastic products. Ethylene producers are focusing on high-quality packaging to offer consumers better options. The demand for ethylene is expected to rise due to the increasing demand for agricultural products driven by population growth. Ethylene is used in plant growth and food packaging as it helps accelerate and regulate the growth and ripening of plants.
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Segmentation Overview:
The global ethylene market has been segmented into feedstock, application, end-use, and region. Naphtha is a significant feedstock in making gasoline, butane, plastics, fertilizers, and cleaning fluids. With the growing demand for these products, the demand for naphtha is expected to increase. LDPE is widely used in making plastic products such as bottles. As many medical and automobile devices are made using this plastic, the demand for LDPE is expected to grow with the growth of these sectors.
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Ethylene Market Report Highlights:
- The global ethylene market growth is anticipated to have a CAGR of 5.5% by 2032.
- The demand for ethylene is increasing due to e-commerce, lightweight plastics, and bio-based products. Cosmetic, construction, and automotive industries are also contributing to the growth. Ethylene is used in plant growth and food packaging, increasing demand for agricultural products.
- Ethylene is widely used in packaging, chemicals, and automobile industries. Asian countries like India, China, South Korea, and Japan are significant consumers of ethylene and products from ethylene, resulting in a rising demand for the market.
- Some prominent players in the ethylene market report include The Dow Chemical Company, BASF SE, ExxonMobil Chemical, Shell International, Lonza Group, Reliance Industries Limited, Saudi Basic Industries Corporation (SABIC), Westlake Chemical Corporation, Ineos Group AG, China Petroleum and Chemical, and others.
Industry Trends and Insights:
- Dow introduced Caustic DEC and TRACELIGHT DEC, two caustic soda products with up to 90% lower carbon dioxide.
- BASF launched Irgastab PUR 71, an advanced antioxidant that enhances regulatory compliance and performance for polyols and polyurethane foams.
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Ethylene Market Segmentation:
By Feedstock: Naphtha, Ethane, Propane, Butane, and Others
By Application: HDPE, LDPE, Ethylene Oxide, Ethyl Benzene, and Others
By End-use: Building and Construction, Automotive, Textiles, Packaging, and Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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