The ethylene and propylene market is mainly driven by the polymers and fiber industries. Realization of the industrial utility of ethylene and propylene has added a new dimension to the thermal cracking of petrochemicals, of which the two are byproducts.
In the mid-1950s, innovations by Karl Ziegler in Germany laid the foundation for the next era of advancement in the textile-fiber sector. Ziegler discovered a process to synthesize ethylene polymers, such as polyethylene, which were first used as a wax for sealing purposes.
Propylene is produced as a byproduct in steam crackers that use feeds other than ethane. With the growth of the ethylene market, the propylene market has also grown considerably. So much so that in recent years the propylene market has surpassed the ethylene market.
Ethylene is used for large industrial reactions such as polymerization, alkylation, oligomerization, halogenations and hydrogenation, hydration, and hydroformylation. A large amount of ethylene produced worldwide is used in the manufacture of ethylene oxide, ethylene dichloride, and ethyl benzene.
Propylene is used in the production of polypropylene, propylene oxide, cumene, acrylonitrile, oxo-alcohols, and isopropyl alcohol for industrial purposes.
The research report is a qualitative and quantitative analysis of current market trends, growth drivers, and restraints acting on the global ethylene and propylene market.
Using industry-centric tools and proprietary databases, technological advancement and market projections are analyzed in the report. With an array of statistical representations, the research report portrays analysis of the key market segments.
Profiled in the report are key players in the global ethylene and propylene market, along with an elaboration upon company overview, technological advancement, and business strategy of each of these vendors.
Overview of the Global Ethylene and Propylene Market
The global ethylene market was valued at US$156.0 billion in 2013 and is expected to reach US$234.2 billion by 2020, growing at a 6.0% CAGR from 2014 to 2020.
Due to its widespread industrial applications, ethylene is produced by petrochemicals companies worldwide. Owing to growing demand for ethylene from several end-use industries, the production capacity of ethylene is increased periodically by petrochemical companies, which is leading to sustainable growth of the global ethylene market.
Polyethylene accounted as the largest application segment, holding more than 50% of the ethylene market in 2013. Various types of polyethylene are used in the manufacture of plastic for the production of everyday appliances, pipes, packaging material, and toys.
Plastic produced from polyethylene can be pressed into different shapes – from the simplest to the most complex. Increasing consumption of polyethylene for the production of various plastic components is indirectly driving the ethylene market.
In 2011, the global propylene market was worth more than US$90 billion and is anticipated to exhibit considerable growth in coming years.
Propylene is used in the manufacture of propylene polymers that have application in acrylic fibers and coatings, PVC plasticizers and coatings, polyurethane resins, epoxy resins and polycarbonates, and solvents. The automotive sector is the largest end user of polypropylene.
Massive expansion in ethylene and propylene production, combined with rising demand for downstream products from India, China, and the Middle East, will propel growth of the overall ethylene and propylene market.
Strict environmental regulations, fluctuations in raw material prices, and political uncertainty in crude oil producing regions are major factors restraining the ethylene and propylene market.
Major Companies Involved in the Global Ethylene and Propylene Market
BASF, ExxonMobil Chemical, INEOS, Formosa Plastics Corporation, DuPont, Dow Chemical, LyondellBasell Industries, Saudi Basic Industries Corporation, Sumitomo Chemical, and Chevron Phillips are some of the major companies in the global ethylene and propylene market.
Geographies in the Global Ethylene and Propylene Market
- North America
- Asia Pacific
- Rest of the World
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- A clear understanding of the competitive landscape and key product segments
Note : All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Transparency Market Research.