10-Nov-2021 | Zion Market Research
As per the study of Zion Market Research study, Ethylene industry amassed earnings about US$ 147.2 billion in 2020 and is prognosis to accrue profits of approximately US$ 237.2 billion by 2028. Moreover, Ethylene market is projected to record a CAGR of approximately 9.9% in 2021-2028. Apparently, growth of Ethylene market over assessment period can be credited to surge in production of chemical compound in countries such as the U.S. and China. Large availability of shale gas in country like the U.S. will further contribute towards size of ethylene industry. Apparently, increase in working populace across globe has culminated into humungous demand for packaged food products and this has increased demand for ethylene due to its use in producing thin films for food packaging. Thriving construction & infrastructure industry will further contribute towards market proceeds. Furthermore, immense use of polyethylene in fuel tanks, vehicle bodies, and electric insulation cables will enlarge scope of ethylene market in forecasting timeframe. Growing focus of manufacturers on producing products with less GHG emissions as a part of their corporate social responsibility strategy will further expedite expansion of ethylene industry in forthcoming timeline.
Ethylene Oxide Segment To Dominate Application Landscape By 2028
Growth of ethylene oxide segment over assessment period can be credited to massive demand for product in countries such as China, India, South Korea, and Australia. In addition to this, rise in import & consumption of ethylene oxide in Canada and the U.S. will segmental growth. For the record, the segment is projected to register highest gains of 3.4% during forecast timespan.
North America To Dominate Ethylene Market Growth Over 2021-2028
Expansion of ethylene market in North America over forecast timespan can be credited to increase in inventories of product in the U.S. offsetting surge in raw material costs. In addition to this, increase in supply of natural gas liquids as raw materials along with increase in drilling activities in countries to fulfill extensive demand for product has culminated into humongous growth of ethylene market in region. Ample use of ethylene derivatives in U.S. post COVID and swift economic recovery has translated into huge product penetration in the sub-continent. Additionally, efforts of downstream manufacturers to re-stock raw material inventories post disruptions due to Uri Storm has enlarged use of ethylene in the U.S, thereby driving regional market trends. Increase in export of ethylene from U.S. to other countries due to truncation in pricing has carved a new path of growth for ethylene market in the country. This has resulted in elevated growth of ethylene market in region.
Key players influencing market growth and profiled in study include China Petroleum & Chemical Corporation, Royal Dutch Shell plc, ExxonMobil Corporation, Total S.A., Saudi Basic Industries Corporation (SABIC), LyondellBasell Industries, Huntsman Corporation, DuPont de Nemours, Inc., Akzo Nobel N.V., and Clariant AG.
Browse the full “Ethylene Market- By Feedstock (Naphtha, Propane, Butane, And Ethane), By End-Use Industry (Automotive, Building & Construction, Agriculture & Agrochemicals, Packaging, And Textiles), By Application (Polyethylene, Ethyl Benzene, Ethylene Dichloride, And Ethylene Oxide), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2021 – 2028.” Report at https://www.zionmarketresearch.com/report/ethylene-market
The global Ethylene Market is segmented as follows:
By End-Use Industry
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