Polyethylene Market – Market Overview
Considered as the largest polymer polyethylene is widely consumed across an array of industries viz. plastic & packaging, automotive, construction, electrical & electronics, furniture, and consumer goods among others. Primarily, the demand for polyethylene is propelled by the increasing consumption of plastics products across the globe.
In terms of supply and demand of raw material used for polyethylene, China holds a significant market share globally. Although China lags in terms of oil & gas reserves, the country is rich in coal. To reduce the dependency on ethylene imports and produce self-sufficient amount of ethylene and ethylene derivatives, China is opting for production of ethylene from coal. China’s coal to olefins is a multi-step process wherein coal is converted to syngas, which is converted to methanol; methanol is thereafter converted to olefins (ethylene and propylene). Ethylene output capacity from various coal to olefins plants in China is estimated to be around 1.6 million tons. Additionally, upcoming naphtha cracker expansions in 2017 and 2018 in China, South Korea and Malaysia is expected to add 1.4 million tons/year of ethylene capacity in the Asia Pacific region. An abundant supply of feedstock i.e. ethane from shale gas in the US has resulted in the major capacity expansion of ethylene in the North America region. For instance, Dow Chemical’s 0.25 million metric tons/year ethylene expansion at its Louisiana operations complex in Plaquemine set for completion by end-2017.However, tomorrow’s demand for ethylene is expected majorly from the emerging markets.
Protuberant factors associated with the growth of global polyethylene market outlook includes the pulsating demand for various type of polyethylene (HDPE, MDPE, LDPE, LLDPE) across an array of industries. Among the various end-use industries, packaging sector accounts for the largest market share in terms of consumption of polyethylene, which is followed by construction and automotive sector. Regional dynamics include the regained stability of economy in the developed markets such as North America and Europe, which in turn is witnessing increasing construction and growth in manufacturing sector.
Access Full Report Details and Order this Premium Report @ https://www.marketresearchfuture.com/reports/polyethylene-market-1056
Polyethylene Market – Competitive Analysis
As discussed earlier, the demand for polyethylene is expected from the emerging economies such as China, India and ASEAN. China is poised to grow at a CAGR of nearly 7 %, whereas, India is expected to grow at a CAGR of nearly 9%. With new avenues for polyethylene the major trend observed among manufacturers are capacity additions.
Foreseeing the demand manufacturers in China are increasing its capacity for ethylene production with major capacity additions ready to commence production in first quarter of 2018, 2019, 2021, 2023. China poised to raise its ethylene capacity by 71%. For instance, CNOOC Limited capacity addition of ethylene which is scheduled to commence production from the 2018Q1.
Similarly, recently merged DowDuPont announced its new integrated world scale ethylene and propylene production facility in Texas. The plant will produce 400,000 MT polyethylene resin for flexible food and industrial packaging applications.
Polyethylene Market Competitive Landscape
ASF SE, BP Plc, INEOS, Saudi Basic Industries Corporation, Petronas, China National Petroleum Corporation, China Petroleum & Chemicals Corporation, National Petroleum Company , Polimeri Europa ,Mitsui Chemicals Inc,Exxon Chemicals, Formosa Plastics Limited, Sumitomo Chemicals, DuPont, Chevron Philips, LyondellBasell Industries Ltd., Dow Chemicals Company, NOVA Chemicals, Reliance Industries and Petrobras. are some of the prominent players at the forefront of competition in the Global Polyethylene Market and are profiled in MRFR Analysis
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
Magarpatta Road, Hadapsar,
Pune - 411028
+1 646 845 9312