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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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.
One of the major trends in global ethylene market is the increased investments for capacity addition. The low costs involved and the increased capacity in ethylene production causes an overflow of ethylene in the market, causing additional price reductions, which is a key trend in the ethylene market.
Another application area of huge growth potential in the ethylene market is the production of ethylene oxide. Natural Gas Liquids feedstock in the US has enabled less expensive ethane production, and this is driving investments through large-scale capacity additions in the area.
As ethylene is combustible and carcinogenic, stringent regulations on the use of ethylene are expected to hamper the ethylene market. In addition, volatility in the feedstock cost along with rising competition within industry players also obstructs the growth of global 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.
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