USD 165.25 billion
Report ID: SQSG15A2009 | Region: Global | Published Date: October, 2022 | Pages: 157
Global Ethylene Market was valued at USD 165.25 billion in 2021, and it is expected to reach a value of USD 240.38 billion by 2028, at a CAGR of 5.5% over the forecast period (2022-2028).
The rapid movement in consumer preference toward bio-based goods is anticipated to have an influence on the growth of the ethylene sector. In connection with this, the sudden rise in spending on construction and infrastructure improvement, as well as the increase in the number of people employed globally, has led to an increase in demand for processed food and beverages, which is already acting as a key determinant favouring the expansion of the market over the anticipated period. Additionally, it is anticipated that the variability in ethylene prices would impede expansion.
Due to global trade restrictions and total lockdowns of manufacturing facilities, the COVID-19 pandemic has slowed the expansion of the market for the product. Additionally, it is anticipated that the global economic downturn and decreased product demand would negatively affect market expansion. Businesses that extensively rely on ethylene, such as those in packaging, construction, automotive, textiles, and consumer products, were severely harmed by the pandemic scenario. The manufacturing lines for detergent and sanitizer, however, have been able to keep some semblance of profitability despite the losses among the aforementioned industries.
Global Market Size
USD 165.25 billion
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The Global Ethylene Market is segmented based on the Feedstock, Application, End-Use, and Region. Based on Feedstock, the Global Ethylene Market is segmented as naphtha, ethane, propane, butane, and others. Based on Application, the Global Ethylene Market is segmented as polyethylene, ethylene oxide, ethylene benzene, ethylene dichloride, ethylene glycol, vinyl acetate, alpha-olefins, and others. Based on the End-Use, the Global Ethylene Market is segmented as automobile, packaging, construction, agrochemical, textile, rubbers, plastics, soaps, detergents, and others. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Application
Due to rising consumer demand for different plastic-based goods from various industries, including the automotive, construction, medical, and other sectors, the LDPE segment led the market in 2019. Dispensing bottles, tubes, and containers are some examples of these plastic goods. Additionally, the popularity of lightweight cars is a factor that is bolstering the market's growth. During the anticipated period, the HDPE segment is also anticipated to have considerable expansion. High-density polyethylene HDPE is in greater demand, which can be ascribed to an increase in building activity.
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This market is dominated by the Asia Pacific region, which is credited with this growth of end-use industries like packaging, automotive, textile, construction, agrochemical, etc. Additionally, the rapid industrialization and urbanization of developing nations like China and India, as well as their established agricultural sector, have led to an increase in the demand for items made of polyethylene. Due to rigorous restrictions and regulations on the use of materials generating VOC, the North American and European areas are predicted to have an average rise. On the other hand, the demand for cars in the European area is quite strong, which may contribute to the expansion of this industry in that region.
With the use of cutting-edge technology, Germany, one of the world's top makers of vehicles, offers extremely effective solutions for the use of plastic in autos, resulting in less weight and cheaper production costs. Every form of raw material may be found in the Middle East and Africa, and these regions are predicted to increase moderately throughout the evaluation period. Due to the high rate of urbanization and expanding innovations in this region, Brazil will be primarily responsible for growth in this region.
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Increasing Demand for Packaging Solutions During Pandemic
Depleting Raw Material Sources and Introduction of Substitutes
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The Global Ethylene market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
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SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Ethylene Market Analysis, due to the success of several market sectors, it is predicted to have substantial expansion. The construction and packing category will expand the fastest among these categories and contribute more than any other segment to the market's expansion. The packaging sector has emerged as the largest in terms of revenue creation and is predicted to expand by a CAGR of 10% throughout the projected period. Some of the causes of the expansion include rapid urbanization, expanding population, and increased government spending.
|Market size value in 2021||USD 165.25 billion|
|Market size value in 2028||USD 240.38 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Ethylene Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Ethylene Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Ethylene Market:
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Product ID: SQSG15A2009