Report ID: SQMIG15A2256
Report ID:
SQMIG15A2256 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
104 |
Figures:
78
Ethylene Market size was valued at USD 129.5 Billion in 2023 and is poised to grow from USD 137.27 Billion in 2024 to USD 206.38 Billion by 2032, growing at a CAGR of 6% during the forecast period (2025-2032).
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.
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Report ID: SQMIG15A2256