New York City, 11 February 2019: The Global Ethylene Market is estimated to reach USD 136.67 Billion by 2026 according
to a new report published by Polaris Market Research. Ethylene is an organic
hydrocarbon and is a basic and most significant raw material for manufacturing
large number of polymeric end-use products such as plastics, fibers, and
organic chemicals. It is a petrochemical derivative and includes ethane and
naphtha as its major feedstocks. Ethylene is among the major building blocks
for petrochemical industry.
Ethylene as a raw material is applied
to a broad range of applications. It is used in the production of ethylene
oxide, ethylene dichloride, ethyl benzene, vinyl acetate and others. Increasing
applications of ethylene intermediates is primarily driving its demand for the
end-use industries. Ethylene oxide is the largest application and is used in
end-uses such as packaging, consumer products, and light industrial
applications.
Rising world’s population coupled with
the increase in personal income of the consumers has led to growth of many
commodity products such as packaging, bio-based PET products, housing inputs,
and textile products. Growing construction industry has mainly supported the
growth for polyvinyl products, which in turn has driven the consumption for
ethylene dichloride. The lightweight and modernized automotive products are the
factors that led to steady increase in the consumption of polyvinyl chloride.
The consumption in different regions of
the world is based on the rapid expansions of downstream businesses such as
PET, polyester fibers, PVC, and packaging. Japan and Western Europe are
anticipated to consume less ethylene over the period of next five years, as
these are the mature regional markets with their production based on less
economical feedstocks, which makes it difficult for them to compete in the
global ethylene derivative export market.
Low cost feedstocks such as ethane have
fueled the next wave of investments in countries like the United States. This
has significantly led to increased production of ethylene. The bigger market
players of the ethylene market are able to leverage technology and low-cost
supply strategies for meeting the demand at right costs and right products.
Competitive Landscape and Key Vendors:
Asia Pacific is the most lucrative
regional market for ethylene, where the latest demand has been supported rapid
growth of the developing countries, especially of the Southeast Asia and the
Indian Subcontinent. China, Japan, Western Europe, and the United States hold
the highest market share for the consumption of ethylene chloride.
The global ethylene market is highly
competitive with high degree of integration across the value chain by many
market players. Some of the major market players for ethylene include
ExxonMobil Corporation, Dow Dupont, Saudi Basic Industries Corporation (SABIC),
Royal Dutch Shell plc, Total S.A., LyondellBasell Industries, and China
Petroleum & Chemical Corporation.
No comments:
Post a Comment