The Ethylene Market is expected to grow at a steady rate of around 6% owing to the increasing usage in the packaging industry coupled with the growing adoption of LDPE in the construction sector. Low-density Polyethylene (LDPE) is a soft, flexible, lightweight plastic material. LDPE is used because of its low-temperature flexibility, toughness, and corrosion resistance properties. In addition, they are non-toxic and non-contaminating, and resistant to impact, dampness, chemicals, rip, and stress fracture. In recent years, the demand for LDPE has risen dramatically due to its application in many industries such as the manufacture of packaging, garbage bins, floor tiles, mailing envelopes, and dropper bottles. Moreover, the use of low-density polyethylene in the market is growing due to the electrical insulating qualities that have resulted in its growing utilization in a variety of end-use sectors across the world.
The major trend being witnessed in the global ethylene market is the increasing investments aimed at boosting the production capacity for the gas. Owing to the large-scale application of ethane gas in various industries, many companies engaged in its production are working toward expanding their production capacities. For instance, in August 2018, ExxonMobil and Saudi Basic Industries Corporation, under a joint venture, announced their decision to construct the world’s largest ethylene production plant, estimated to be developed at a cost of USD 1.4 billion.
Furthermore, Ethylene is developed into four different compounds, which in turn are developed into several household and other products such a Polyethylene (Plastics) which are used to make food packaging, bottles, bags, and other plastics-based goods.
BASF SE, Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, Ineos Group Ltd., LyondellBasell Industries N.V, Royal Dutch Shell plc, Saudi Basic Industries Corporation, China Petroleum & Chemical Corporation (Sinopec), The Dow Chemical Company, and Lonza Group are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst application, the Polyethylene category to hold a significant share in the market in 2020”
Based on application, the ethylene market has been classified into Polyethylene, Ethylene Oxide, Ethyl Benzene, Ethylene Dichloride, and Others. The Polyethylene category can be further bifurcated into HDPE and LDPE with LDPE expected to witness higher adoption during the forecast period. This is mainly due to the increasing use of films & sheets in the packaging industry. As LDPE is used in the production of food and non-food packaging. Furthermore, films & sheets have low toughness, stiffness, and strength, and high ductility. This plastic has a high density, sturdy construction, and long life. Hence, they are also used in the manufacturing of tubes, vessels, bubblers, dosing bottles, and molded laboratory equipment due to their property of being opaque. Hence, all these factors are contributing to the growth of the market.
“APAC to hold a significant share in the market”
APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing demand for ethylene and its byproducts in various industries such as food and beverage, electrical and electronics, packaging, and construction. With rapid urbanization and industrialization, the demand for ethylene-based packaging materials is growing exponentially in emerging economies. Besides, the growing demand for automobiles and electronic devices in APAC countries, such as China and India, is encouraging the growth of the ethylene market because ethene is used a raw material in automobiles and electronic devices. In the coming years, emerging countries are expected to witness rise in their middle-class population, which would further boost the demand for electronic items and automobiles in these countries. Thus, the increased demand for the gas from end-use industries will open new avenues for the growth of the players operating in the market.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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Table of Contents
Research Methodology for the Ethylene Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Ethylene market were the three major steps undertaken to create and analyze the adoption of Ethylene in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Ethylene market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Ethylene market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Ethylene market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Ethylene market. Further, we conducted factor analysis using dependent and independent variables such as various applications of Ethylene. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Ethylene market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Ethylene market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the Ethylene market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global Ethylene market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Ethylene market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of application in the global Ethylene market.
The main objective of the Global Ethylene Market Study
The current & future market trends of the global Ethylene market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the Ethylene market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of application.
- Define and analysis of the regulatory framework for the Ethylene
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the Ethylene market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the Ethylene market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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