Ethylene & Propylene Market is Booming Worldwide at Unstoppable Rate | BASF, ExxonMobil Chemical & INEOS

 


The polymers and fiber industries are the primary drivers of the ethylene and propylene market. The discovery of ethylene and propylene's industrial utility has given thermal cracking of petrochemicals, of which the two are byproducts, a new dimension. Karl Ziegler's breakthroughs in Germany in the mid-1950s lay the groundwork for the next period of growth in the textile-fiber industry. Ziegler developed a method for synthesizing ethylene polymers, such as polyethylene, which were originally employed as sealing wax.

Propylene is a byproduct of steam crackers that do not employ ethane as a feedstock. The propylene market has developed significantly in tandem with the ethylene market. So much so that the propylene market has just overtaken the ethylene market. Polymerization, alkylation, oligomerization, halogenations and hydrogenation, hydration, and hydroformylation are all examples of big industrial reactions that involve ethylene. Ethylbenzene, ethylene oxide, and ethylene dichloride are made from a significant amount of ethylene produced around the world.

The research report examines current market trends, growth drivers, and restraints in the global ethylene and propylene market in both qualitative and quantitative terms. The report examines technical advances and market projections using industry-specific technologies and proprietary databases. The research report displays an analysis of the important issues using a variety of statistical forms.

Key companies in the global ethylene and propylene market are profiled in the study, with details on their company overviews, technical advancements, and business strategies.

The global ethylene market was valued at US$156.0 billion in 2013 and reach US$234.2 billion by 2020. Ethylene is produced by petrochemical businesses all over the world due to its extensive range of industrial applications. Due to the rising demand for ethylene from a variety of end-use sectors, petrochemical companies are increasing ethylene production capacity on a regular basis, resulting in the global ethylene market's long-term expansion. Polyethylene was the most popular application sector in 2013, accounting for more than half of the ethylene market. Plastic is made from several forms of polyethylene, which is used to make common gadgets, pipelines, packaging material, and toys. Polyethylene plastic can be pressed into a variety of shapes, from the simplest to the most complicated.

The entire ethylene and propylene market will rise due to massive development in ethylene and propylene production, as well as rising demand for downstream goods from India, China, and the Middle East. Environmental laws, raw material price changes, and political unrest in crude oil-producing regions are all key constraints on the ethylene and propylene industry.

Some of the main players in the worldwide ethylene and propylene market are BASF, ExxonMobil Chemical, INEOS, Formosa Plastics Corporation, DuPont, Dow Chemical, LyondellBasell Industries, Saudi Basic Industries Corporation, Sumitomo Chemical, and Chevron Phillips.

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