Ethylene petrochemical refers to an acyclic hydrocarbon which is a colorless, flammable gas with a faint sweet and musky odor when it’s pure. It is the simplest alkene widely used in industry and is also a plant hormone.
The ethylene-petrochemicals market size has grown steadily in recent years. It will grow from $105.31 billion in 2023 to $110.54 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to rising demand for plastics and other petrochemicals, growing population and urbanization, increasing disposable incomes, increasing awareness of the benefits of ethylene-petrochemicals, feedstock availability, economic expansion .
The ethylene-petrochemicals market size is expected to see strong growth in the next few years. It will grow to $135.23 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to expanding industrialization, growing demand for sustainable ethylene-petrochemicals, growing popularity of bio-based ethylene-petrochemicals, consumer lifestyle changes, growing production of consumer goods, demand from automotive industry. Major trends in the forecast period include shift towards the use of renewable feedstocks, focus on sustainability and environmental stewardship, circular economy initiatives, bio-based and renewable ethylene, digitalization and industry 4.0, green petrochemicals.
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Segmentation & Regional Insights
The ethylene-petrochemicals market covered in this report is segmented –
1) By Feedstock: Naphtha, Ethane, Propane, Butane, Other Feedstocks
2) By Application: Polyethylene, Ethylene oxide, Ethylene benzene, Ethylene dichloride, Vinyl Acetate, Alpha Olefins
3) By End User Industry: Packaging, Automotive, Construction, Agrochemical, Textile
Asia-Pacific was the largest region in the ethylene-petrochemicals market in 2023. <b>Middle East</b> was the second-largest region in the global ethylene-petrochemicals market. The regions covered in the ethylene-petrochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
During the historic period, increased demand for polythene products contributed to the ethylene-petrochemicals market’s growth. Ethylene is mainly used in polyethylene products such as low-density polyethylene (LDPE), high-density polyethylene (HDPE), and linear low-density polyethylene (LLDPE). The polyethylene market has grown substantially due to the increased demand for plastic across the globe. The high penetration of plastics in electronic products and lightweight products in vehicles has increased the demand for plastics. According to National Geographic (2020), 40% of the plastic produced every year is single-use plastics. Production of plastic is expected to double by 2050. These factors that have driven the adoption of polyethylene have impacted the growth of the ethylene market.
Key Industry Players
Major companies operating in the ethylene-petrochemicals market include <b> Akzo Nobel NV, BASF SE, Borealis AG, Chevron Phillips Chemical Company LLC, China Petrochemical Corporation, Clariant International Ltd., Dow Chemical Company, Equistar Chemicals LP, Exxon Mobil Corporation, Huntsman Corporation, Ineos Group Limited, LG Chem Ltd., Lonza Group, LyondellBasell Industries NV, Mitsubishi Chemical Corporation, Mitsui Chemicals Inc., National Iranian Petrochemical, NOVA Chemicals Corporation, Royal Dutch Shell plc, Sasol Limited, Saudi Arabia’s Basic Industries Corporation, Showa Denko KK, SINOPEC Shanghai Petrochemical Co. Ltd., National Petrochemical Company, Tosoh Corporation, TotalEnergies SE, Formosa Plastics Corporation, PetroChina Company Limited, BP plc, Reliance Industries Limited, Lotte Chemical Corporation, Sumitomo Chemical Co. Ltd., Braskem SA, PTT Global Chemical PCL, Westlake Corporation, Eastman Chemical Company, Air Products and Chemicals Inc., Evonik Industries AG </b>
The ethylene-petrochemicals market report table of contents includes:
1. Executive Summary
2. Ethylene-Petrochemicals Market Characteristics
3. Ethylene-Petrochemicals Market Trends And Strategies
4. Ethylene-Petrochemicals Market – Macro Economic Scenario
5. Global Ethylene-Petrochemicals Market Size and Growth
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31. Global Ethylene-Petrochemicals Market Competitive Benchmarking
32. Global Ethylene-Petrochemicals Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Ethylene-Petrochemicals Market
34. Ethylene-Petrochemicals Market Future Outlook and Potential Analysis
35. Appendix
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