Ethylene And Propylene Market
Ethylene is a hydrocarbon, which exists in the form of colorless flammable gas and has a faint sweet and musky odor when pure. Ethylene is used extensively in the chemical industry. Ethylene is also a natural plant hormone, and is used in the agriculture sector for ripening of fruits. Propylene is a colorless fuel gas with a naturally pungent smell. Propylene is obtained during the refining of gasoline and is flammable and non-toxic.
Market Dynamics
Among applications, the chemicals and petrochemicals segment holds the largest share in the global ethylene & propylene market. Ethylene is used in the production of vinyl chloride, which is used for producing polyvinyl chloride (PVC). Furthermore, propylene can be polymerized to form polypropylene polymers, which are widely used in the packaging industry. These factors are driving growth of the chemicals & petrochemicals segment. Propylene is also used as a raw material for producing cumene value chain, propylene oxide, n-butyl alcohol, acrylonitrile, acrylic acid and others, which is aiding the growth of the chemicals and petrochemicals segment.
Among regions, Asia Pacific accounted for a significant market share in 2022, owing to the increasing demand of ethylene and propylene from industries such as automobiles, construction, packaging, and consumer products, in emerging economies such as India and China. These factors are driving demand for ethylene and propylene derived plastic polymers such as polyvinyl chloride, polyethylene, polystyrene, polyethylene terephthalate, and polypropylene. According to the American Institute of Chemical Engineers (AICHE), the polymer market in India is driven by demand for polypropylene and polyethylene, which represented 73% of all the commodity resin consumed in 2015 to 2016.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Detailed Segmentation:
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