Ethylene Market size is set to grow by USD 57.7 bn from 2024-2028, increasing demand for polyethylene products from various industries boost the market- Technavio

NEW YORK, March 13, 2024 /PRNewswire/ -- The ethylene market thrives due to rising demand for polyethylene derivatives in construction, automotive, and electronics sectors. HDPE, LDPE, and LLDPE production heavily rely on ethylene. China and India lead plastic consumption, with India's electronics sector showing significant growth. Ethylene is vital in various chemical derivatives and packaging, driven by industrialization, urbanization, and consumer awareness.

The global ethylene market size is estimated to grow by USD 57.7 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of  6.27% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 42%.  
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Major Companies

Ethylene Market report includes information on the product launches, sustainability, and prospects of leading vendors including BASF SE, Braskem SA, Chevron Corp., China National Petroleum Corp., Dow Chemical Co., Eastman Chemical Co., Exxon Mobil Corp., Formosa Plastics Group, Huntsman International LLC, Koch Industries Inc., LyondellBasell Industries N.V., Merck KGaA, Mitsubishi Chemical Group Corp., Mitsui Chemicals Inc., NOVA Chemicals Corp., Reliance Industries Ltd., Saudi Basic Industries Corp., Shell plc, Sumitomo Chemical Co. Ltd., TotalEnergies SE .

The Ethylene market in APAC, driven by the construction and packaging industries, is the largest ethylene consumer segment globally. Ethylene is a key gas used in the manufacture of polyethylene, ethylene oxide, and various ethylene derivatives such as ethylene vinyl acetate, ethylene propylene, and polyvinyl chloride. The growth of the retail and e-commerce industries fuels the demand for packaging materials, particularly in China, India, South Korea, Singapore, Malaysia, and Japan. Economic growth and increasing middle-class populations contribute to the expansion of these industries. In construction, ethylene is used for infrastructure development and building improvement. Price fluctuations impact the ethylene market, affecting the cost of production and availability of raw materials like naphtha, ethane, and propane. Rapid industrialization and urbanization increase ethylene demand in various sectors, including automobiles, textiles, agrochemicals, and soaps & detergents. Ethylene derivatives have applications in high-end industrial uses, medical industry, and cosmetics. Government regulations and consumer awareness impact the use of ethylene in single-use plastics and flammable or carcinogenic materials. The ethylene market is influenced by developments in the petrochemical sector, including the availability of natural gas and shale gas, and the manufacture of green polyethylene compounds and biomaterials. The pandemic has led to increased demand for safe packaged goods and premium food products, further boosting the ethylene market.
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The ethylene market, primarily driven by the demand for polyethylene (PE), including LDPE and LLDPE, experienced significant growth in 2023. PE, a key ethylene derivative, is used extensively in various industries such as construction, automobiles, and packaging. The packaging industry, particularly in processed food and beverages, accounts for a substantial portion of the ethylene market's consumption. The ethylene market's growth is influenced by factors like industrial facilities' expansion, rapid industrialization, urbanization, and the availability of feedstocks like ethane, propane, butane, and naphtha. Ethylene derivatives like ethylene oxide, vinyl acetate, ethylene glycol, and ethylene propylene are essential in manufacturing plastics, chemicals, and rubber. Price fluctuations, government regulations, and consumer awareness towards single-use plastics and environmental concerns impact the ethylene market. The market's growth is also influenced by the expanding applications in industries like automotive, construction, agrochemical, textile, and medical. The pandemic has led to increased demand for safe packaged goods, high-end industrial applications, and consumer convenience, driving the demand for lightweight and high-quality packaging materials. The ethylene market is expected to continue its growth trend throughout the forecast period.

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Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

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SOURCE Technavio