Global Ethylene Market Estimated To Grow At CAGR Of 6.2% To Reach US$146.8 Bln By 2026

Global ethylene market estimated to grow at CAGR of 6.2% to reach US$146.8 bln by 2026

29-Jul-19

The global ethylene market size is estimated to reach US$146.8 bln by 2026 growing at a CAGR of 6.2%, according to a report published by Polaris Market Research. The primary drivers for this market are the food and packaging industry that will spark growth in this market. The consumption of ethylene copolymers will make an impact on market growth due to presence of aseptic packaging in beverage applications. The incessantly growing population across the globe coupled with rising disposable incomes has added growth to packaging, bio-based PET products, housing inputs and textile products. A rapidly growing construction industry has consented to growth of polyvinyl products and simultaneously driven consumption of ethylene dichloride. The light-weight automotive component and spares are the factors that led to sedate and gradually increasing polyvinyl chloride market. Asia Pacific is the leading market with latest growth figures fostering rapid growth of the developing nations especially South East Asia and India. China. Japan, Western Europe and the U.S hold largest market share of ethylene chloride.

Ethylene is widely employed as a raw material in diverse applications. It is used in production of ethylene oxide, ethylene dichloride, ethyl benzene, vinyl acetate and others. These intermediates are driving growth in end-use industries. Ethylene oxide is a large application-based derivative used in end-use industries such as packaging, consumer products and light industrial applications. The provident expansions in low-down businesses such as PET, polyester fibers, PVC and packaging are a relevant benchmark to consumption of ethylene in regions. Japan and Western Europe are expected to consume less ethylene over the next five years as they are mature markets with less competitive indices. Low cost feedstock such as ethane have prioritized the new wave of ethylene generation and big players like U.S.are gearing up with technological expertise and low-cost supply directives that meets the investment boom over right products and costs.

The global market is highly competitive with many players poised precariously over the value chain. The key players include ExxonMobil Corporation, Dow DuPont, Saudi Basic Industries Corporation (SABIC), Royal Dutch Shell plc., Total S.A, Lyondell Basell Industries and China Petroleum and Chemical Corporation.