|Ethylene Market Size|
Some of the well-known players operating in 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), among others.
The global Ethylene Market Size is segmented into application and end-use.
On the basis of the application, the market is further classified into polyethylene, ethylene oxide, ethylene benzene, and ethylene dichloride segments.
On the basis of the end-use, the market is subdivided into packaging, automotive, construction, agrochemical, textile, and others.
Ethylene is a hydrocarbon gas which possesses a sweet smell and imparts corrosion and abrasion resistance features to the final product. Owing to these factors, they are used in the heavy end industries such as packaging, automotive, construction, agrochemical, textile, and others. The global ethylene market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major share of the global market and is projected to continue leading, owing to the increasing consumption of plastics in packaging, automotive, construction, agrochemical, textile, and others. It is estimated that the packaging segment is set to observe the highest CAGR in the market due to growing use of thermoplastics in containers, molded bottles, and other applications. The increasing demand for lightweight materials in construction & buildings, aviation sectors have propelled the market to witness a rapid growth during the forecast period. These factors led to China, Japan and India to be the leading players in this region.
The North American market is expected to grow at a higher CAGR due to extensive consumption of humid resistant plastics in construction & buildings, automobile sectors, and others. The growing replacement of heavy metals by polymers is projected to fuel the market in the coming years. The U.S., Canada, and Mexico have achieved a significant stage in the market due to rising per capita income and high disposable income in the end-use industries. Therefore, the growing demand for ethylene in automotive and aerospace sectors is estimated to drive the market during the forecast period.
A notable development is achieved in Europe due to the growing demand for thermoplastics in construction & buildings, packaging, textiles, and other industries. These materials are used to improve the features and the standard of the product. Moreover, the growing innovation and technological advancement have propelled the market to witness a higher growth. Owing to these factors, countries such as Germany, the U.K., and Italy are the major contributors to this market.
A considerable development is predicted in the Latin American region such as in Brazil, Uruguay, and Argentina due to the growing consumption of thermoplastics in construction and buildings, automotive aerospace and energy sectors. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing demand for low-density materials in major industries.
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