(MENAFN- Straits Research) Ethylene finds applications across various industry verticals, such as automotive, packaging, healthcare, textile, agrochemicals, and building & construction industries, among others. Rising investments in Asia-Pacific are leading to infrastructural development, thereby positively impacting the demand for construction fittings and pipes. In the automotive sector, ethylene is used in the production of specialty glass. In the metal fabrication industry, it is used as oxy-fuel gas in
metal cutting, welding, and
high-velocity thermal, further driving the market growth.
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Impact of COVID-19 on Ethylene Market
The lockdown in Europe and Asia-Pacific is rapidly decelerating the petrochemical demand, further decelerating the naphtha market. The collapse in demand for crude oil from international markets with limited workforce availability has adversely affected the availability of raw material for ethylene production. Similarly, the demand for plastic is witnessing a considerable decline in the automobile sector across Europe. As per the European Automotive Manufacturers Association, the COVID-19 outbreak has translated about 1.5 million worth production losses for European automobile industries. The shutdowns in Spain, France, and other countries have decelerated the demand for PVC plastics largely used for manufacturing fittings and pipes, further hampering the ethylene market growth.
Key Highlights
The ethylene market is on the path of achieving new market heights with a lucrative CAGR of around ~5.0%, strongly supported by its considerable application in the manufacturing of polymers, such as polyethylene (PE), polyethylene terephthalate (PET), polyvinyl chloride (PVC), polystyrene (PS), and fibers & other organic chemicals.
The polyethylene segment is projected to grow at a significant rate on account of its increasing demand in the end-use industries. The extensive application of high-density polyethylene in the manufacturing of trays, bottles for fruit juices and milk, industrial bulk containers, and other everyday products drive the segment growth.
Ethylene gas finds applications in the agriculture and food and beverage industry
Asia-Pacific dominates the ethylene market as the region has the highest consumption and production capacities. In 2017, Asia accounted for about 55% of the ethylene exports, supported by the presence of leading companies in the region.
Ethylene Market: Segmentation
By End-User
Automotive
Packaging
Healthcare
Textile
Agrochemical
Building & construction
By Application
Polyethylene (PE)
Polyethylene terephthalate (PET)
Polyvinyl chloride (PVC)
Polystyrene (PS)
Fibers & other organic chemicals
By Raw-Material
Naphtha
Natural gas
By Region
North America
Europe
Asia-Pacific
South America
The Middle-East and Africa
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods
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