Global Ethylene Market Size, Share to Grow CAGR of 4.09% during the Forecast to 2035 | ChemAnalyst

NEW YORK - Dec. 13, 2022 - PRLog -- According to ChemAnalyst report, "Global Ethylene Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2035", The Ethylene market is likely to experience a significant expansion and expected to reach 260 million tonnes in 2035, at an expected CAGR of 4.09% during the forecast period. The increasing demand of Ethylene from Polyethylene, Ethylene Oxide, Ethylene Dichloride, Ethylene Benzene, and others end-use industries is expected to hike the demand for Ethylene in the coming years. Although, Polyethylene manufacturing is leading the maximum demand of ethylene on a global level.

Ethylene is a colourless gas which has a fruity smell. It is produced by steam cracking process of ethane as well as naphtha. This process involves cracking of hydrocarbon feedstock in a furnace, known as pyrolysis. Pyrolysis is a highly endothermic process and takes place at temperature nearly 750 degrees Celsius. Ethylene is used in agricultural sector for the ripening of fruits such as tomatoes, bananas, mangoes, and more. Moreover, ethylene is used for the production various chemical compounds such as Polyethylene, Ethylene Oxide, Ethylene Dichloride, and Ethylene Benzene. Additionally, ethylene is used as a refrigerant in petrochemical industries and used as a fuel gas in welding and cutting processes.

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The Ethylene market across the globe is primarily driven by the Polyethylene industry. In 2021, the Polyethylene industry consumed more than 50% of the global Ethylene. Polyethylene has properties like excellent chemical and abrasion resistance, low coefficient of friction, lightweight nature, and exhibit almost no water absorption. Due to these reasons, polyethylene is used extensively in food and beverage sector for packaging purpose. Due to rising urban population, the dependence on ready to eat items is expected to rise in the coming years, demanding more volume of polyethylene, which is expected to drive the Polyethylene market in the forecast period. Polyethylene is also used to manufacture items like grocery bags, toys cable insulation, squeeze bottles, cups, bowls, and housewares.

The Ethylene market is segmented based on end-use, sales channel, and region. Based on end-uses, the Ethylene market is segregated into Polyethylene, Ethylene Oxide, Ethylene Dichloride, Ethylene Benzene, and others. The Polyethylene sector is the leading the global Ethylene market consuming more than 50% of Ethylene in 2021 and is expected to grow at a CAGR of 4.14% by 2035.

Major players are Sinopec, LyondellBasell, DowDupont, Exxon Mobil Corporation, INEOS, Chevron Phlips, Braskem, Formosa Plastics Group (Formosa Petrochemical Corp.) and others.