Ethylene Market: By Application Type (LDPE, HDPE, Ethylene oxide, Vinyls, Others), By End User (Packaging, Automotive, Construction, Agrochemicals, Textile, Others), and Geography

Ethylene Market size was valued at USD 178.2 billion in 2022 and is expected to grow at a CAGR of 6.7% from 2023 to 2029. The global market provides a detailed overview of the market size, and that can be segmented by application and by end-user. By application, the Ethylene Industry growth has been segmented into LDPE, HDPE, Ethylene oxide, Vinyls, and Others. The LDPE segment is likely to be the largest and fastest-growing segment in terms of application. The rise of this segment is mainly due to the rising consumer demand for the numerous plastic-based products from several industries such as construction, automotive, medical, and others. These plastic goods contain containers, tubes, and dispensing bottles. Moreover, the drift towards lightweight automobiles is boosting market growth. The HDPE segment is also likely to have significant development during the forecast period. The rising demand for high-density polyethylene HDPE can contribute to rising construction actions. They are used for wiring, pipes, and tube in the construction business owing to high UV and chemical resistance thus beneficial for outside applications. They are also utilized as container vessels for shampoo, conditioner, laundry detergent, and others due to their little chemical resistance. All of the above features are likely to contribute to the market growth. Based on End-user, the Ethylene Industry is segmented into Packaging, Automotive, Construction, Agrochemicals, Textile, and Others. Among these, the Packaging end-user segment is expected to have the fastest-growing market during the forecast period 2022-2028. The lightweight and robust compression abilities of ethylene have raised its use and demand within the packaging industry for the manufacture of ethylbenzene and polyethylene, which helps defend packaged products in case of crushing or smashing. By region, the Asia Pacific market is expected to witness the highest market share during the forecast period.

Ethylene Market Key Development:

• In November 2021, Exxon Mobil Corporation announced the launch of a chemical manufacturing unit in Dayawan Petrochemical Industrial Park in Huizhou, China
• In October 2021, the world's first plant of ethylene and derivatives complex, which will produce net-zero carbons emissions, was announced by the Dow Chemical Company