Global Ethylene Market 2019-2023 | Emergence of Bio-Ethylene to Boost Growth | Technavio
LONDON--(BUSINESS WIRE)--Oct 11, 2019--
The global ethylene market is expected to post a CAGR of close to 4% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global ethylene market 2019-2023. (Graphic: Business Wire)
The rising demand for polythene products from various end-user industries is one of the key factors driving the global ethylene market growth. In the automotive sector, vehicle manufacturers are increasing the use of plastic components to reduce weight and achieve minimum emissions. The rise in the number of construction projects has increased the demand for HDPE resins in the manufacture of telephone ducts, pipes and plumbing, and electrical boxes. The growth of the construction sector has also increased the demand for HDPE for other applications such as storage tanks, geosynthetics, and decorative items. Countries such as China and India are exhibiting a strong demand for plastics, owing to factors such as increased consumer purchasing power, rapid technological advances, and high penetration of electronics in these countries.
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As per Technavio, the emergence of bio-ethylene will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Ethylene Market: Emergence of Bio-Ethylene
Factors such as fluctuating crude oil prices and depleting fossil fuel resources are driving the need to explore alternative routes of producing ethylene. This has led to the emergence of bio-ethylene, which is extracted from bio-ethanol. Though the production process of bio-ethylene is still in the experimental stage, its share in the market is expected to increase during the forecast period. Several players in the market are focusing on the development of bioplastics. Thus, the growing emphasis bioplastics is expected to create significant growth opportunities for market vendors.
“Apart from the emergence of bio-ethylene, increasing innovation in the packaging sector and new ethylene projects in the US are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Ethylene Market: Segmentation Analysis
This market report segments the global ethylene market by application (LDPE, HDPE, ethylene oxide, vinyls, and others), feedstock (naphtha, ethane, LPG, and others) and geography (APAC, Europe, MEA, North America, and South America).
The APAC region led the market in 2018, followed by North America, MEA, Europe, and South America respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market due to factors such as strong economic growth and increasing middle-class population.
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Some of the key topics covered in the report include:
Five Forces Analysis
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INDUSTRY KEYWORD: CHEMICALS/PLASTICS MANUFACTURING
SOURCE: Technavio Research
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PUB: 10/11/2019 11:00 AM/DISC: 10/11/2019 11:01 AM