Albany, NY, May 5, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has released a new market report titled "Ethylene Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020." According to the report, the global ethylene market was valued at US$ 156.0 Bn in 2013 and is projected to reach US$ 234.2 Bn by 2020, expanding at a CAGR of 6.0% from 2014 to 2020.
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Ethylene is an inflammable colorless gas with a sweet taste and odor. Ethylene is used extensively in industrial applications. Considering the broad range of industrial applications of ethylene, several prominent petrochemical companies across the world engage in the manufacture of ethylene and its diverse types of derivatives. These international petrochemical companies increase their production capacity of ethylene periodically. Moreover, demand for ethylene is expected to augment significantly in different end-use industries. This is ultimately leading to sustainable growth in the ethylene market.
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Polyethylene was the largest application segment of the ethylene market in 2013 and accounted for more than 50% of the total market. Distinct types of polyethylene are used for the manufacture of plastic that is used for producing everyday appliances, packaging, pipes, and toys. Polyethylene can be processed into hard products as well as soft and flexible components. Plastic produced from polyethylene can be seen in articles of all dimensions, with the simplest to the most complex shapes. The growing consumption of polyethylene in the production of a diverse range of plastic components is consequently resulting in significant rise in the demand for ethylene. As far as growth rate is concerned, ethylene oxide is expected to be the fastest growing application segment of the ethylene market in the forecast period. The prospective growth in ethylene oxide can be mainly attributed to the rising demand for ethylene oxide derivatives such as ethylene glycol to produce plastic items, mainly bottles.
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Packaging was the largest end-user segment of the ethylene market with more than 30% share in 2013 and is expected to be the fastest growing segment of the ethylene market in the next few years. Several types of polyethylene such as PVC, low density polyethylene (LDPE), linear low density polyethylene (LLDPE), and high density polyethylene (HDPE) are comprehensively used for producing different packaging products such as films, containers, drums, and pipes. The rising demand for all such products in the packaging industry is expected to drive the demand for ethylene in the packaging end-user segment.
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Key players operating in the ethylene market include Saudi Basic Industries Corporation (SABIC), The Dow Chemical Company, Exxon Mobil Corporation, Royal Dutch Shell plc, China Petroleum & Chemical Corporation (Sinopec Corporation), Chevron Phillips Chemical Company LLC, Total S.A., LyondellBasell Industries, National Petrochemical Company (NPC) and INEOS Group AG.
The report segments the global ethylene market as follows:
Ethylene Market: Application Analysis
- Polyethylene
- Ethylene oxide
- Ethylene benzene
- Ethylene dichloride
- Others (including vinyl acetate and alpha olefins)
Ethylene Market: End-user Analysis
- Packaging
- Automotive
- Construction
- Agrochemical
- Textile
- Others (including soaps & detergents)
Ethylene Market: Regional Analysis
- North America
- Europe
- Asia Pacific
- China
- Japan
- Rest of Asia Pacific
- Latin America
- RoW (Middle East & Africa)
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.