Ethylene is an important chemical feedstock that is used to manufacture various polymers and plastics. It is a key building block for polyethylene, ethylene oxide, ethylene glycol, and vinyl acetate among others. Rising demand for polyethylene in the packaging industry is driving the consumption of ethylene. Polyethylene finds wide usage in manufacturing plastic bags, containers, bottles, and films. It provides properties such as transparency, flexibility, strength, and durability.
The Global Ethylene Market is estimated to be valued at US$ 158.06 Mn in 2024 and is expected to exhibit a CAGR of 30. % over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The surging demand from polymer industries is one of the key trends accelerating the growth of the global ethylene market. Ethylene is an essential raw material for producing various polymers and plastics that are extensively used across industries like packaging, automotive, construction, and consumer goods. According to statistics, the global demand for polymers is anticipated to grow at over 4% annually till 2024. With the continuous expansion of end-use industries, the consumption of ethylene-based polymers and plastics is also projected to increase substantially. This rising polymer demand will subsequently drive the growth of the ethylene market over the forecast period.
Segment Analysis
The global ethylene market is segmented by type, application, end use industry and region. Based on type, the market is segmented into ethylene oxide, ethylene dichloride (EDC), vinyl acetate monomer (VAM), polyethylene, and others. The polyethylene sub segment dominates the market owing to its wide range of applications in packaging, construction, automotive and other industries.
Key Takeaways
The Global Ethylene Market Demand is expected to witness high growth over the forecast period of 2024 to 2031.
Regional analysis shows that Asia Pacific region dominates the market currently and is expected to continue its dominance during the forecast period. Factors such as rapidly growing construction industry, rising disposable incomes, increasing population and accelerating industrialization are fueling the demand for ethylene in the region.
Key players operating in the global ethylene market include Aecom, DPR Construction, Holder Construction, Jacobs, M+W Group (Exyte), Bouygues Construction, Mercury, Arup, and Benthem Crouwel Architects. Aecom is one of the leading construction company in the world. It provides professional technical and management support services and project delivery for assets and programs. DPR Construction specializes in complex building type like healthcare, science and technology
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