Market Research Future Published a Half Cooked Research “Global Ethylene Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2023.
Saudi Basic Industries (SABIC) (Saudi Arabia), DowDuPont (U.S), Exxon Mobil Corporation (U.S), Royal Dutch Shell (Netherland), Sinopec (China), Total SA (Italy), Chevron Phillips (U.S), LyondelBasell (Netherland), National Petrochemical Company (Iran), and Ineos (U.K.) are some of the prominent players at the forefront of competition in the Global Ethylene Market and are profiled in MRFR Analysis.
Ethylene Market – Market Overview
Ethylene is the major feedstock for manufacturing basic chemical products which are widely consumed in day to day activity. Some of the major applications of ethylene are plastic & packaging, automotive, construction, electrical & electronics, agriculture, and medical among others.
Primarily, the demand for ethylene is propelled by the increasing demand for plastics and basic chemicals in the Asia Pacific and North America market. An abundant supply of feedstock i.e. ethane from shale gas in the US has resulted in the major capacity expansion of ethylene in the North America region.
In terms of supply and demand, China holds a significant market share globally. Although China lags in terms of oil and gas reserves, the country is rich in coal. To reduce the dependency on ethylene imports and produce self-sufficient amount of ethylene and ethylene derivatives, China is opting for production of ethylene from coals. China’s coal to olefins is a multi-step process wherein coal is converted to syngas, which is converted to methanol; methanol is thereafter converted to olefins (ethylene and propylene).
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Plastic industry accounts for the largest market share in terms of consumption of ethylene, which is a key feedstock for manufacturing of polyethylene. Thus, more than half of global Ethylene is consumed in the production of polyethylene, which is majorly used across the various sectors of packaging. Ethylene oxide is the second largest derivative in terms of consumption of ethylene.
Protuberant factors associated with the growth of Global Ethylene Market includes the demand for ethylene derivatives across an array of industries. Increasing consumption of polyethylene in the packaging sector coupled with the growth of packaging industry can be further attributed to the increasing consumption of Ethylene globally. Regionally, the emerging markets are expected to register significant growth rates in the coming years, whereas, the developed markets are expected to register moderate growth rates in the near future.
Ethylene Market- Competitive Landscape
The market demand of Ethylene rises for various applications such as plastic & packaging, automotive, construction, electrical & electronics, agriculture, and medical. Saudi Basic Industries (SABIC), DowDuPont, Exxon Mobil Corporation, Royal Dutch Shell, Sinopec, Total SA, Chevron Phillips, LyondelBasell, National Petrochemical Company, and Ineos are the major shareholders in this market. Most of these market participants are adopting the expansion, new product launches, agreement, and partnership between manufacturers, distributers, and marketing firms are key factors for the growth of ethylene in the global market. Taking into account these trends, the Global Ethylene Market is likely to witness considerable competition over the forecast period of 2017-2023.
Industry/ Innovation/ Related News:
September 21, 2017– DowDuPont had planned to open new ethylene and plastic complex in Freeport, Texas. This project offer an ethylene feedstock for 1.5 million metric tons per year. The annual capacity will soon expand to 2 million metric tons of ethylene to become a world largest ethylene production plant.
June 2, 2017– PJSC Nizhnekamskneftekhim (NKNK) had made the contract with The Linde Group in Nizhnekamsk, Republic of Tatarstan. Linde was responsible for design, material procurement, and technical engineering consulting for the olefins plant. This contract helped the NKNK to double its production capacity of ethylene.
February 24, 2017–LG Chem Ltd. had made the contract with KBR Inc. to expand the Daesan based ethylene complex. KBR was contracted to provide technology based services. The project was planned to start in 2019 after conforming to South Korean government for renovation of plant.
January 20, 2017– LyondellBasell had completed the ethylene expansion in Corpus Christi. This expansion increases the production capacity of ethylene from 1.7 billion to 2.5 billion.
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