Ethylene Market To Be Driven By The Rising Demand In The Industrial Sector In The Forecast Period Of 2022-2030
According to Market Research Future (MRFR), the global ethylene market is estimated to witness a CAGR of 6% during the forecast period (2022 - 2030). The report highlights the strengths, opportunities, challenges, and future market risks and offers an extensive overview of the global market situation with the effect of COVID-19.
Ethylene is a colorless gas with a faint, slightly sweet smell and is highly reactive and flammable. It does not dissolve in water but mixes fine with most organic (carbon-containing) solvents. Ethene is a component of a group of substances referred to as volatile organic compounds (VOCs).
Market Segmentation:
The Global Ethylene Market has been segmented on the basis of Application and End-Users.
Based on Application, the Ethylene Market is segmented into polyethylene, ethylene oxide, ethylene benzene, and ethylene dichloride. Among these, the ethylene oxide segment accounts for the fastest growth in the global market due to its substantial application in the production of various ethylene derivatives which are used for manufacturing plastic.
Based on End-Users, the Ethylene Market is segmented into packaging, automotive, construction, agrochemical, textile, and others. Among these, the packaging segment is projecting significant growth owing to the increasing demand for linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE) in the manufacturing of packaging products.
Competitive Analysis:
The players in the Global Ethylene Market are focusing on strategic mergers and acquisitions and increasing research and development expenditure for new product launch in order to expand their businesses in the global market.
The major players of the Global Ethylene Market are SABIC (Saudi Arabia), DowDuPont (U.S), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (the Netherlands), China Petrochemical Corporation (China), Total SA (Italy), Chevron Phillips Chemical Company (U.S.), LyondellBasell Industries Holdings B.V. (the Netherlands), National Petrochemical Company (Iran), and INEOS (Switzerland), and others.
Regional Analysis:
The Global Ethylene Market is segmented across five major regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these, the Asia Pacific region accounts for the largest market share in the Global Ethylene Market owing to the increased demand for ethylene in automotive, construction, packaging and other industries.
The North America region is projecting significant growth in the Global Ethylene Market due to the increasing investment for the expansion of the end-use industries. The growing innovation and incorporation of advanced technology in thermoplastics and other products are propelling the growth of the Ethylene Market in the Europe region. The increasing utilization of low-density materials in the electronics industry is driving the ethylene market in the Middle East and Africa region. Whereas, the increasing demand for thermoplastics in the end-use industries is fueling the expansion of the ethylene market in the Latin America region.
companies' growth potential in the future.
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