The demand for various markets is seen to be dependent on the raw materials available for the production of the products in the market. The procurement of high-quality raw materials helps companies in investing more focus and capital towards other processes such as production, processing, packaging, and distribution. These initiatives have been observed to be adopted across various industry verticals as a method for sustainable growth for operating organizations. The importance of raw materials is seen to grow in the chemicals industry over the years. Products developed from the processing of chemicals require quality raw materials for optimized production process. These factors are expected to be helpful for the improvement of revenue in the global ethylene market. The market for ethylene has been growing over the years owing to various initiatives from companies for the adoption of ethylene across a wide range of applications throughout a variety of industry verticals.
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The growing concerns related to the coronavirus have led to numerous limitations for the growth of various industries. The ethylene market has also seen certain obstacles during the ongoing pandemic situations. Operations related to production, packaging and distribution of ethylene were majorly seen to have impacted in an adverse manner. This has led to a reduction in demand for market products in the second and third quarter for the market. With the opening of various markets across the world along with increasing production initiatives, the market is expected to gather impetus and lead towards revenue growth over the next year. These factors are expected to be helpful for the market in the near future. Companies in the market have been investing towards studying various forms of feedstock that can be utilized for the development of ethylene. In addition to this, studies are being carried out to assess the processes used for the synthesis of market offerings. These initiatives are expected to present optimized raw materials and final products for the market and help in the revenue growth at the global scale.
Ethylene has been observed to be notable application across agriculture, chemicals, and consumer durables, among others. The adoption of ethylene for the treatment of crops has been prevalent across various countries. Governments in numerous nations have regulated the usage owing to risks related to higher concentration of the material having adverse impact on the growth of the crops. This has led to a stunted adoption level for the market offerings but has made the users more aware regarding the safe use of the product. Regulated usage of the product is expected to aid the adoption rate in the near future and provide the market with better revenue generation opportunities across the major adopting countries.
The detailed research study provides qualitative and quantitative analysis of ethylene market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Key Findings of the Report:
- Production methods for ethylene has been a notable factor in the investment strategies for market participants. The market has been observing the adoption of steam cracking process for the development of ethylene. Increasing production of components and systems for aiding the process from other companies has been influential for the growing adoption of the process for market participants. Furthermore, growing demand for petrochemicals has led towards enhancements in investments towards newer production methods. Optimized production processes are expected to help the growth in revenue for the market.
- In terms of the industries that are utilizing ethylene, notable verticals include agriculture, chemicals and materials, automotive, packaging. The chemicals sector has been observed to be the key industry for the revenue generation in the market. The growth of applications for ethylene across the development of numerous chemicals has been contributing for the increase in adoption for the market offerings across the sector. In addition to this, the utilization of market offerings in the consumer durables sector is expected to grow over the forecast period. Development initiatives for ethylene-based plastics are observed to have been growing over the years and is expected to influence the revenue growth for the market in the coming years.
- As far as geography is concerned, North America accounted for the maximum share in the global ethylene market for the current year. The revenue share from the region has been observed to due to growing prevalence of processing sectors for ethylene in the region. The region of Asia Pacific is expected to portray the fastest growth in terms of market share over the forecast period on the global scale. Increasing enhancements in production of ethylene and growing investments towards various chemical processing operations in numerous countries in the region are expected to help the growth of revenue in the region over the near future.
- Some of the players operating in the ethylene market are Akzo Nobel N.V., Chevron Phillips Chemical Company, China National Petroleum Corporation, China Petroleum & Chemical Corporation (SINOPEC), Clariant, Dow Dupont, Exxon Mobil Corporation, Huntsman Corporation., LyondellBasell Industries Holdings B.V., Mitsubishi Chemical Corporation, NOVA Chemicals Corporation, Repsol, BASF SE, Royal Dutch Shell plc, SABIC, Sasol, Total, and Westlake Chemical Corporation, amongst others.
Ethylene Market:
By Feedstock
- Naphtha
- Ethane
- Propane
- Butane
- Others
By Production Process
- Steam Cracking
- Olefin Cracking
- MTO (Methanol to Olefin) Process
- Others
By Application
- Polyethylene
- Ethylene Oxide
- Ethyl Benzene
- Ethylene Dichloride
- Others
By End Use Industry
- Agriculture and Agrochemicals
- Chemicals and Materials
- Automotive
- Building and Construction
- Consumer Durables
- Packaging
- Others (Household and Industrial Surfactants, Textiles, etc.)
By Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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