The Brainy Insights launched a study titled “Ethylene Market Size by Feedstock (Naphtha, Ethane, Propane, Butane), Application (Polyethylene, Ethylene Oxide, Ethyl Benzene, Ethylene Dichloride), End User, Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2021 to 2028”
The global Ethylene market is expected to grow from USD 81.34 billion in 2020 to USD 161.61 billion by 2028, at a CAGR of 8.3% during the forecast period 2021-2028. The rising demand for ethylene products from the construction industry and packaging industries are the factors affecting the demand of the market.
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The naphtha segment is dominating the market with the market share of 28.69% in 2020
The feedstock segment is divided into naphtha, ethane, propane, butane and others. As of 2020, Naphtha is the leading feedstock segment having the market share of 28.69% in 2020. Ethane is the second leading feedstock, which is also most commonly used as a feedstock for Ethylene production in most parts of the world.
The Polyethylene segment is dominating the market with the market value of USD 45.7 Billion in 2020
The application segment includes polyethylene, ethylene oxide, ethyl benzene, ethylene dichloride and others. As of 2020, Polyethylene is the leading application segment of the global ethylene market with a market value of USD 45.7 Billion. Polyethylene is widely used for the consumable products like packaging materials, residential purposes and films and articles for large industrial use. Ethylene Oxides are widely used in end-user segments such as polyester films, PET bottles and fibres.
The Packaging segment is dominating the market with the market share of 30.08% in 2020
The end-user segment includes building & construction, automotive, textiles, packaging and agrochemicals. Packaging industries held the highest market share of around 30.08% in 2020. Agrochemicals is anticipated to have the growing segments during the forecast period. The packaging, automotive and construction industries are expected to drive this market in the forecast period.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. Asia-Pacific expected to have the highest market share in 2020. This is due to the fact that in the emerging economies like China and India, there is a rapid industrialization and urbanization, which has resulted in many end-user industries like automotive, packaging, textile etc. Also, there is a presence of many agricultural countries in the region. All of this drive this market in the region. There is stringent government regulations on the use of VOC(Volatile organic compound) emitting substances, but still, North America and Europe are most likely to witness moderate growth in the coming years. The European Chemicals Agency and The US Environmental Protection Agency control and maintain the use of ethylene through the Clean Air Act, Clean Water Act, European Directive (793/93) etc.
Competitive Analysis:
The major players ofmarketincludeSaudi Basic Industries Corp, Exxon Mobil Corporation, Dow DuPont Inc., Royal Dutch Shell plc, China Petroleum & Chemical Corporation, Chevron Phillips Chemical Company LLC, LyondellBasell Industries N.V., The National Petrochemical Company, BASF SE and Lonza Group among others.
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