USD 122.17 billion
Ethylene Market Size, Share, Growth Analysis, By Feedstock(Naphtha, Ethane, Propane, Butane), By Application(Polyethylene, Ethylene Oxide, Ethylene Benzene, Ethylene Dichloride), By End-Use(Automobile, Packaging, Construction, Agrochemical), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15A2256 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
104
|Figures:
78
Ethylene Market Insights
Ethylene Market size was valued at USD 122.17 billion in 2019 and is poised to grow from USD 129.5 billion in 2023 to USD 194.7 billion by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).
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.
US Ethylene Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Naphtha
Fastest Growth
Naphtha
Growth Rate
6% CAGR
Global Ethylene Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Ethylene Market Segmental Analysis
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.
Ethylene Market 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.
Global Ethylene Market Share By Application Type, 2021 (%)
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Ethylene Market Regional Insights
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.
Global Ethylene Market By Geography, 2021 - 2028
- Largest
- Fastest
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Ethylene Market Dynamics
Ethylene Market Driver
Increasing Demand for Packaging Solutions During Pandemic
- Demand for plastic items has increased as customers' awareness of the need for safely packaged goods has grown. Plastic packaging has seen a dramatic increase in demand for a variety of uses, including transportation, e-commerce healthcare, and grocery stores. Additionally, the market is anticipated to increase and be driven by demand for high-end industrial applications. The market is being driven by customer demand for premium food in suitable packaging. Additionally, as plastic is utilized in the aforementioned industries for wiring, vehicle components, pipes, and other items, growth in the automotive and construction sectors is also assisting market expansion. The market size is also being driven by expanding applications in the agricultural, medicinal, and other industries.
Ethylene Market Restraint
Depleting Raw Material Sources and Introduction of Substitutes
- Crude oil price volatility and the depletion of raw materials like fossil fuel reserves may impede the market's expansion. the emergence of alternatives like bio-ethanol made from natural sources like sugar and starch. Government restrictions on resource preservation and environmental protection are to blame for the development of these bio-based alternatives. Additionally, as technology continues to progress, support for alternatives is growing, which is constraining the market. The spread of the coronavirus, which has disrupted the supply chain and hampered market expansion, is another issue that serves to constrain the market.
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Ethylene Market Competitive Landscape
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.
Ethylene Market Top Player's Company Profiles
- Royal Dutch Shell
- ExxonMobil Corporation
- Sinopec
- LyondellBasell Industries N.V.
- Saudi Basic Industries Corporation (SABIC)
- Dow Chemical Company
- Total S.A.
- Chevron Phillips Chemical Company
- Formosa Plastics Corporation
- INEOS Group AG
- China National Chemical Corporation (ChemChina)
- Mitsui Chemicals, Inc.
- Sasol Limited
- BP plc
- Reliance Industries Limited
- Braskem S.A.
- Westlake Chemical Corporation
- LG Chem Ltd.
- PTT Global Chemical Public Company Limited
- Lotte Chemical Corporation
Ethylene Market Recent Developments
- In June 2019, Exon Mobil Corporation and SABIC established a joint venture called Gulf Coast Growth Ventures, and they announced plans to build a chemical complex and an ethane steam cracker in Texas. The facility's goal is to produce raw materials that will be utilized to make a variety of goods, including building materials, packaging, and automotive coolants. During the time of the examination, the facility will also contain two polyethylene units and a mono-ethylene glycol unit.
- In October 2019, SABIC announced a merger with the Saudi petrochemical business SADAF and the Arabian petrochemical company PETROKEMYA (Saudi basic industries corporation). The goal of this merger was to make SABIC's operations more efficient and competitive.
Ethylene Key Market Trends
- With rising consumer convenience, lightweight plastics are becoming more popular, opening up new potential for small- and large-scale cosmetic firms. Consumers' increasing knowledge of the many kinds and forms of plastic items will help the industry grow even more. The demand is growing as lightweight plastic products become more popular in the construction and automobile industries. To provide the consumer with better packaging options, ethylene-producing companies are focusing more on lightweight and high-quality packaging.
Ethylene Market SkyQuest Analysis
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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 122.17 billion |
| Market size value in 2031 | USD 194.7 billion |
| Growth Rate | 6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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) |
| Companies covered |
Ethylene Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ethylene Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ethylene Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the 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 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.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ethylene Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ethylene Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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