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Ethylene Market - Estimated To Reach at USD 136.67 billion in 2026

Author: Neel Bobde
by Neel Bobde
Posted: Oct 25, 2018
density polyethylene

The global ethylene market generated USD 136.67 billion in 2017 and is anticipated to grow at a CAGR of 5.4% during the forecast period.

Ethylene is a petrochemically derived monomer and has numerous applications, which are further applied to many end-use products such a fiber, plastics, and in the production of other organic chemicals. It is one of the lightest olefinic hydrocarbon with ethane and naphtha as major feedstocks.

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Ethylene is a feedstock for manufacturing numerous other derivatives such as ethylene oxide, polyethylene, ethyl benzene, ethylene chloride, vinyl acetate, and few others. Ethylene is among the largest-volume petrochemical produced globally in tandem with a versatile derivative portfolio used in both durable and non-durable end-uses. Polyethylene is the largest derivative produces and has three direct applications including low-density polyethylene, (LDPE), liner low-density polyethylene (LLDPE), and high-density polyethylene (HDPE).

Rising world’s population coupled with the increase in personal income of the consumers has led to growth of many commodity products such as packaging, bio-based PET products, housing inputs, and textile products. Growing construction industry has mainly supported the growth for polyvinyl products, which in turn has driven the consumption for ethylene dichloride. Modernized and lightweight automotive products have also led to steady growth in the consumption of polyvinyl chloride.

The shale gas boom in the United States has substantially influenced the future development of many petrochemical derivatives, including ethylene. With the advent of shale technology in North America, a strong price decline for ethane was witnessed, which led to addition of new ethane crackers. Moreover, ethane cracking yields a higher amount of ethylene as compared to other feedstocks such as propane or naphtha. Technologies such as shale have contributed significantly to the rapid production of ethylene.

Technical developments in terms of manufacturing processes and material science has played a crucial role in the growth of ethylene market. Technical developments such as linear quench exchanger and swirl flow tube (SFT) by TechnipFMC are used for the improved performance concerning capacity, selectivity, and run-length of the furnaces.

Competitive Landscape and Key Vendors

Asia Pacific is the largest regional market for the ethylene demand globally. Southeast Asia and the Indian Subcontinents are the major Asian regions responsible for the rapid growth. This is due to the expansion of downstream businesses such as polyester fiber and manufacturing of PET products. China has the highest market share for ethylene dichloride due to high consumption of ethylene in PVC and vinyl chloride market.

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The global ethylene market is highly competitive with high degree of integration across the value chain by many market players. Some of the major market players for ethylene include ExxonMobil Corporation, Dow Dupont, Saudi Basic Industries Corporation (SABIC), Royal Dutch Shell plc, Total S.A., LyondellBasell Industries, and China Petroleum & Chemical Corporation.

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About the Author

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.

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Author: Neel Bobde
Premium Member

Neel Bobde

India

Member since: Oct 23, 2018
Published articles: 344

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