Ethylene Market is Expected to Expand at a CAGR of 6.0% During 2014–2020
The ethylene market is fairly competitive with the presence of a number of prominent petrochemical companies focused on the production of ethylene and a variety of useful derivatives, observes Transparency Market Research (TMR). Global players are constantly boosting their production capacities to gain a competitive edge in the market. Some of the leading players operating in the ethylene market are LyondellBasell Industries N.V., INEOS, Total S.A., Chevron Phillips Chemical Company LLC, Sinopec Limited, Royal Dutch Shell plc., Exxon Mobil Corporation, The Dow Chemical Company, and SABIC. The ethylene market is projected to rise at a CAGR of 6.0% during 2014–2020 and the valuation of the market is expected to reach US$234.2 bn by the end of the forecast period.
Substantial Demand for Ethylene Oxide in Manufacturing Plastics
Regionally, the market is segmented into North America, Europe, Latin America, the Middle East and Africa (MEA), and Asia Pacific. Of these, currently, Asia Pacific is the major regional market and is expected to retain its dominance throughout the forecast period. A major demand for ethylene is expected to come from countries such as India, China, Thailand, Malaysia, and Vietnam. This is attributed to the substantial applications of ethylene in numerous end-use industries.
The information Presented in this Review is Based on Press-Release by TMR
Based on application, the market is segmented into ethylene oxide, polyethylene, ethylene benzene, vinyl acetate, alpha olefins, and ethylene dichloride. Of these, the ethylene oxide segment is projected to rise at a maximum CAGR over the forecast period. The demand for ethylene oxide is driven by its substantial application in the production of ethylene derivatives, primarily used in manufacturing plastics.
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