Ethylene Market - Rising Demand, Growth, Trend & Insights Forecast to 2023by Deepak Kumar Sr. SEO Executive
The global ethylene market is driven by growth in the use of polyethylene mainly for consumables; ethylene glycol/oxide for polyethylene terephthalate (PET) resins for PET fiber, bottles and other packaging; and ethylene dichloride for PVC plastic uses in construction and pipe.
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The increasing applications of ethylene intermediates in various industries are expected to drive the demand for ethylene. Ethylene oxide is mainly used to produce ethylene glycol which is a pre-product for polyester.
Ethylene is a colorless flammable gas with a musky odor. It is the simplest alkene and unsaturated hydrocarbon after acetylene. It is extensively used in agriculture as a plant hormone to ripen fruits; it is also used in the chemical industry to produce ethyl benzene, polyethylene, ethylene dichloride, and ethylene oxide among others.
The production of textile fibers is growing significantly, especially in Asia-Pacific. In addition, producers of ethylene oxide have already been able to profit from the worldwide growing substitution of glass by PET bottles and containers.
On the basis of applications of ethylene, the global ethylene market has been segmented into high density polyethylene (HDPE), low-density polyethylene (LDPE) and linear low density polyethylene (LLDPE), and intermediates of petrochemicals, mainly used for the production of plastics.
As ethylene is combustible and carcinogenic, stringent regulations on the use of ethylene are expected to hamper the ethylene market.
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Some of the major competitors of the global ethylene market are Equistar Chemicals, BASF SE, LP, ExxonMobil Corporation, Chevron Phillips Chemical Company, The Dow Chemical Company, Formosa Plastics Corporation, U.S.A., INEOS, Sasol Ltd, Shell Chemical LP and Westlake Chemical Corporation among others.
Created on May 18th 2018 03:24. Viewed 307 times.