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Global Ethylene Market size is estimated to reach US$195.3 billion by 2027, growing at a CAGR of around 5.4% from 2022 to 2027.

HYDERABAD, TELANGANA, INDIA, January 30, 2023 /EINPresswire.com/ -- The global ethylene market size is estimated to reach US$195.3 billion by 2027, growing at a CAGR of around 5.4% from 2022 to 2027. The ethylene is a colorless and flammable gas that consists of double bond carbons. The ethylene has major application in the production of vinyl acetate, ethyl oxide, polyethylene (PE), high density and low density polyethylene, and other compounds. It is used as a natural plant hormone and helps in ripening of the fruits. The inclination of ethylene for producing PE plastics, which is used in packaging industry, is creating a drive in the global ethylene market. Furthermore, rising application of ethylene in construction, packaging, agriculture, and other end-use industries is offering growth opportunities during the forecast period.

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Key takeaways:

This IndustryARC report on the ethylene market highlights the following areas -

1. The global ethylene market size will increase owing to increasing demand for ethylene in packaging, agriculture, construction, and automotive end-use industry.

2. The Asia Pacific region held the largest market share in the global ethylene industry due to boosting plastic production, packaged food trends, and agriculture sector, in thereby leading to high demand of ethylene in this region.

3. The oxidative dehydrogenation technology type for ethylene production is growing due to low carbon emission and cost efficiency in the market.

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Segmental Analysis:

1. Ethylene Market Segment Analysis – By Technology : By technology, the oxidative dehydrogenation segment held the largest global ethylene market share and is expected to grow by over 5.1% during the forecast period. The production of ethylene through steam cracking of ethane or naphtha is growing due to its lower carbon emission and low wastage of energy.

2. Ethylene Market Segment Analysis – By Application : By application, the polyethylene segment accounted for the largest share in the global ethylene market and is expected to grow by around 5.9% during the forecast period. The high demand of polyethylene is influenced by its increasing application in the plastics manufacturing. Furthermore, the growing use of high density polyethylene and low density polyethylene across various and used industries is offering major growth in the market. The demand of high density polyethylene (HDPE) for food packaging is increasing owing to its excellent tensile strength, durability, and non- toxic properties.

3. Ethylene Market Segment Analysis – By End-Use Industry : The growth of ethylene in packaging industry is influenced by its rising demand and application in plastic packaging forms, majorly polyethylene. The ethylene has dominant application in the packaging sector for food packaging, fresh produce packaging, and others. The use of vinyl acetate, high density polyethylene and low density polyethylene is rising in the packaging sector owing to its superior features such as extended shelf life, non-toxicity, and strength.

Competitive landscape:

The top 5 players in the Ethylene industry are:

1. SABIC
2. Royal Dutch Shell
3. BASF SE
4. Nova Chemicals
5. Mitsubishi Chemical Corporation

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Related Reports:

A. Ethylene Copolymers Market
https://www.industryarc.com/Report/1278/ethylene-copolymers-market-analysis.html

B. Ethylene Tetrafluoroethylene Market
https://www.industryarc.com/Research/Ethylene-Tetrafluoroethylene-Market-Research-502911

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