Chemicals

Ethylene-Petrochemicals Market Commodities, High Growth Opportunities, Segmentation, Market Trends By 2024-2033|Akzo Nobel NV, BASF SE, Borealis AG, Chevron Phillips Chemical Company LLC, China Petrochemical Corporation

The Ethylene-Petrochemicals Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).

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According to The Business Research Company’s Ethylene-Petrochemicals Global Market Report 2024, The ethylene-petrochemicals market size has grown steadily in recent years. It will grow from $105.31 billion in 2023 to $110.54 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to rising demand for plastics and other petrochemicals, growing population and urbanization, increasing disposable incomes, increasing awareness of the benefits of ethylene-petrochemicals, feedstock availability, economic expansion .

The ethylene-petrochemicals market size is expected to see strong growth in the next few years. It will grow to $135.23 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The growth in the forecast period can be attributed to expanding industrialization, growing demand for sustainable ethylene-petrochemicals, growing popularity of bio-based ethylene-petrochemicals, consumer lifestyle changes, growing production of consumer goods, demand from automotive industry. Major trends in the forecast period include shift towards the use of renewable feedstocks, focus on sustainability and environmental stewardship, circular economy initiatives, bio-based and renewable ethylene, digitalization and industry 4.0, green petrochemicals.

During the historic period, increased demand for polythene products contributed to the ethylene-petrochemicals market’s growth. Ethylene is mainly used in polyethylene products such as low-density polyethylene (LDPE), high-density polyethylene (HDPE), and linear low-density polyethylene (LLDPE). The polyethylene market has grown substantially due to the increased demand for plastic across the globe. The high penetration of plastics in electronic products and lightweight products in vehicles has increased the demand for plastics. According to National Geographic (2020), 40% of the plastic produced every year is single-use plastics. Production of plastic is expected to double by 2050. These factors that have driven the adoption of polyethylene have impacted the growth of the ethylene market.

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The ethylene-petrochemicals market covered in this report is segmented –

1) By Feedstock: Naphtha; Ethane; Propane; Butane; Other Feedstocks

2) By Application: Polyethylene; Ethylene oxide; Ethylene benzene; Ethylene dichloride; Vinyl Acetate; Alpha Olefins

3) By End User Industry: Packaging; Automotive; Construction; Agrochemical; Textile

The ethylene-petrochemicals market report table of contents includes: