Ethylene Market Report is segmented By Feedstock (Naphtha, Ethane, Propane, Butane); By Application (Polyethylene, Ethylene Oxide, Ethyl Benzene, Ethylene Dichloride); By End-Use (Building & Construction, Automotive, Packaging, Textiles, Agriculture & Agrochemicals); and By Geography.
The Global Ethylene Market is projected to reach a market size value of USD 257 million by 2028,at a CAGR of 5.6% during the forecast period.
Ethylene is a flammable, colorless gas that is a common necessary industrial organic chemical that can be produced by heating natural gas’ components such as ethane and propane as well as petroleum at a temperature of 800–900 °C (1,470–1,650 °F); this then separates ethylene from the mixture of gases. This organic chemical is utilized for the production of fabricated plastics, fibers, manufacturing of ethylene oxide, polyethylene, alcohol, and mustard gas among others.
Factors that drive the growth of this market include, the growing consciousness of consumers regarding safety packaging leading to high demands in the plastic solutions, high demand for solutions in plastic packaging in industries like, e-commerce, healthcare products, transportation and groceries, high demand for luxury industrial applications, increasing demand of consumers to have good quality of food packaging, technological advancements, growth in the automotive industries, rising construction activities, as well as various applications in medical, chemical and agriculture sectors.
COVID-19 Impact on the Ethylene Market
The challenge lies in the disruption in raw materials supply because it is negatively affecting manufacturers since travel, transport of raw materials, and non-essential trade have been put off in many countries. This in turn affected production, causing a fewer volume of product sales. Ethylene suppliers have also experienced backlash because imports and exports in almost all countries have been restricted, if not limited. Availability of labor became a problem too since shutdowns of facilities and operations halted the production of raw materials for equipment used in the ethylene.
Controlling the widespread of the virus is a great challenge to almost all of the countries because many sectors will have to compromise and deal with the negative impact on their sales. Many industries will have to adapt and adopt to the changes that will be imposed upon them by their governments. A massive setback on the growth of the ethylene market is the disruption of the supply chain since manufacturing and distribution by key players or companies are being limited, if not, controlled by governments by imposing lock downs and halting travels across borders. The pandemic caused limitations when it comes to man power and rendering of labor services because social distancing is mandatory and viral transmission should be prevented. Man power is an essential factor in the propelling of the market’s growth because manufacturing facilities, and conducting the actual trials and tests for ethylene cannot function when there’s limited people resources.
Factory shutdowns are also one of the main reasons for restraint in the growth of the market because the stoppage of production and manufacturing caused turmoil in terms of return of investments made by key players. The effect of the virus outbreak has caused a slow down in the investments made in the ethylene market.
However, there are factors that can also hinder the growth of ethylene market. This includes, scarcity of raw materials such as fossil fuel, unstable crude oil prices, and substitution of ethylene with bio-ethanol that can be derived from natural sources like starch and sugar; technological advancements may cause a hindrance to the growth of the market since there are newly discovered naturally-sourced substitutes for ethylene, stringent government policies and the spread of COVID-19 virus.
Key Findings in the Ethylene Market
In terms of application, the LDPE segment leads the market in 2020 due to factors such as, increasing consumer demand for plastic-based products and high demand for lightweight automobiles. On the other hand, HDPE segment is projected to grow at a significant phase as well during the forecast period. This is mainly attributed to factors such as, high demand for HDPE as well as the increasing construction activities, and application on various products.
Regional Market Analysis
North America is expected to have the largest share in the global market that can be attributed to factors such as, technological advancements, and the increasing disposable income in said region as well as high demand for plastic-based products. Asia Pacific on the other hand, dominates the market in 2020 due to growth factors such as, high demand for polyethylene, economic development of the region, consumers’ improvement of lifestyles, growing middle class population, and emergence of construction activities.
Based on an extensive assessment, these major key players in the Ethylene Market have a competitive landscape and utilizing key strategic developments to lead the industry over the past years until now. These companies are, Sabic (Saudi Arabia), Dow (u.s.), Exxon Mobil Corporation (u.s.), Royal Dutch Shell (Netherlands), China Petroleum & Chemical Corporation (China), Chevron Phillips Chemical Company (u.s.), Total (France), LyondellBasell Industries Holdings B.V. (The Netherlands), China National Petroleum Corporation (China), Repsol (Spain), Basf Se (Germany), Westlake Chemical Corporation (u.s.), Sasol (South Africa), Mitsubishi Chemical Corporation (Japan), and Nova Chemicals Corporation (Canada)
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Feedstock Analysis (Revenue, USD Million, 2021 - 2028)
• Other Feedstock
Application Analysis (Revenue, USD Million, 2021 - 2028)
• HDPE (High Density)
• LDPE (Low Density)
• Ethylene Oxide
• Ethyl Benzene
• Ethylene Dichloride
End-Use Analysis (Revenue, USD Million, 2021 - 2028)
• Building & Construction
• Agrochemicals & Agriculture
Region Analysis (Revenue, USD Million, 2020 – 2028)
• United States
• United Kingdom
• South Korea
• Saudi Arabia
• Rest of World
• United States Ethylene Industry Research Report
• Europe Ethylene Industry Research Report
• Asia Pacific Ethylene Industry Research Report
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