The ethylene market share is expected to increase to 37.05 million tons, progressing at a CAGR of 4.01% during the forecast period. The increasing demand for polyethylene products from various industries will offer immense growth opportunities to market vendors. The ethylene market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Ethylene Market by Application and Geography - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The ethylene market is segmented by feedstock (naphtha, ethane, LPG, and others), application (LDPE, HDPE, ethylene oxide, vinyl, and others), and geography (APAC, North America, MEA, Europe, and South America).
The growth of the ethylene market size in the naphtha segment will be significant during the forecast period. The segment growth is attributed to the high demand for naphtha to produce ethylene in regions such as Europe and APAC.
Factors such as the significant increase in the use of plastic for packaging and construction in countries such as China, India, South Korea, Singapore, Malaysia, and Japan will facilitate the ethylene market growth in APAC. 49% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for ethylene in APAC.
The increasing demand for polyethylene products from various industries will directly influence the sales of ethylene. In addition, the emergence of bio ethylene, which is used as a feedstock for several downstream chemical products is one of the major ethylene market trends that will positively impact the market growth. However, volatility in raw material prices will hamper the ethylene market growth.
The market is fragmented due to the presence of several players. Some of the major ethylene market vendors are BASF SE, China National Petroleum Corp., Dow Inc., Eastman Chemical Co., Exxon Mobil Corp., Formosa Plastics Corp., LyondellBasell Industries NV, Mitsubishi Chemical Holdings Corp., Royal Dutch Shell Plc, and Saudi Arabian Oil Co.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
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Precise market size estimation during the forecast period 2022-2026.
CAGR of the ethylene market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the ethylene market share.
Prediction of the upcoming trends, drivers, and factors that challenge the growth of the ethylene market.
Ethylene industry growth across APAC, North America, MEA, Europe, and South America.