Ethylene Market will Grow at a Lucrative CAGR of 6.0% During 2014–2020
Growing demand for ethylene in the rapidly expanding packaging, construction and automotive end-user segments is anticipated to drive the global ethylene market in the next few years. The mass production of ethylene through the process of catalytic oxydehydrogenation is prophesized to act as an opportunity for the ethylene market in the next few years. As per expert analysts, the global ethylene market is projected to register revenue worth US$234.2 by 2020, which is a decent increase from the initial revenue worth US$156 bn that was achieved in 2013. This growth is expected to occur at a healthy CAGR of 6.05% during the forecast period from 2014 to 2020.
The global ethylene market is mainly segregated on the basis of few factors such as application, end user and region. Under applications, polyethylene, ethylene oxide, ethylene benzene, ethylene dichloride, vinyl acetate, and alpha olefins, are key segments present in the global ethylene market. Under end-users, packaging, automotive, construction, agrochemical, textile, and soaps & detergents, are chief segments comprising the market.
Under applications, polyethylene was used extensively in the production of plastic, and progressed at the topmost growth pace in the global ethylene market, by accounting for more than 50% of the total market share in 2013. However, ethylene oxide is expected to grow at a rampant speed in the applications category of the global ethylene market in the near future. The rapid growth in the ethylene oxide application segment can be mainly attributed to the increasing consumption of its derivative called ethylene glycol used for the production of plastics for making bottles.
The information Presented in this Review is Based on Press-Release by TMR
In terms of end users, packaging emerged as a leading segment of the ethylene market by bagging a share of more than 30% in 2013. The extensive utilization of different forms of polyethylene such as PVC, low density polyethylene (LDPE), linear low density polyethylene (LLDPE), and high density polyethylene (HDPE) for the manufacturing of packaging application products is expected to drive the global ethylene market during the forecast period.