Ethylene is a chemical compound used for synthesizing rubber, plastics, and fibers. Furthermore, it is used for the production of epoxy ethane, polyethylene, acetic acid, styrene, and ethylene dichloride. Ethane and naphtha are major feedstocks used for the production of ethylene.
Propylene is essentially used for the production of organic chemical compound such as propylene oxide, epoxy chloropropane, and acrylonitrile. Propylene is a byproduct of natural gas and oil refining process. Propene derivatives such as polypropylene, cumene, acrylic acid, propylene oxide, and others are utilized in construction, textiles, packaging, and automotive industries. According to the report released by the Global Construction Perspectives and Oxford Economics on November 10, 2015, the construction industry revenue is expected to grow by 85% to reach US$ 15.5 trillion by 2030, globally. The construction industry is predominated by the U.S., China, and India, together contributing a volume share of around 60% in the global construction market.
The demand for petrochemicals such as ethylene and propylene is expected to increase in the near future, attributing to growth of fiber and polymer industries. Moreover, rising demand for ethylene & propylene from various end-use industries is projected to upsurge the revenue for ethylene & propylene market over the forecast period.
Stringent environment regulations, volatile raw material prices, and political instability in crude oil producing countries are major restraints that are expected to hamper growth of the market in the near future. However, the expansion of production capacities of companies and increasing demand for downstream products from emerging economies such as China and India are expected to increase demand for ethylene and propylene in the near future.
Key players operating in the global ethylene & propylene market include ASF, DuPont, Dow Chemical, ExxonMobil Chemical, LyondellBasell Industries, INEOS, Formosa Plastics Corporation, Sumitomo Chemical, Chevron Phillips, and Saudi Basic Industries Corporation.
On the basis of derivative, the global ethylene & propylene market is segmented into:
On the basis of application, the global ethylene & propylene market is segmented into:
On the basis of end-use industry, the global ethylene & propylene market is segmented into:
On the basis of region, the global ethylene & propylene market is segmented into:
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