Ethylene Market Size, Outlook, Shares and 2027 Forecast
The global ethylene market size is expected to reach USD 245,005 million by 2027, exhibiting a CAGR of 5.6% during the forecast period.
The global ethylene market size is expected to reach USD 245,005 million by 2027, exhibiting a CAGR of 5.6% during the forecast period. The growing utilization of plastics such as LDPE and HDPE coupled with technological advancement will bolster healthy growth of the market, states Fortune Business Insights, in a report, titled “Ethylene Market Size, Share & Industry Analysis, By Application (High Density Polyethylene, Low Density Polyethylene, Ethylene Oxide, Ethyl Benzene, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 166,520 million in 2019.
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Halt on Trade Activities to Boost Market Amid Coronavirus
The coronavirus pandemic has severely affected the chemical industry, resulting in halt on trade activities and operations. The disrupted supply chain has subsequently reduced the demand among industries. Nonetheless, the inflated demand for PE in packaging applications can stabilize the market amid covid-19. The growing awareness towards health and hygiene among consumers can enable speedy expansion of the market during the pandemic. Moreover, the increasing need for packaged food products will subsequently boost the production of polyethylene, which, in turn, will improve the prospects of the market.
Rising Economic Development to Support Growth in Asia Pacific
The market in Asia Pacific is expected to hold the largest share in the global market during the forecast period owing to the growing demand for PE from the plastic and chemical industry in developing countries such as China, India, and Japan. The increasing economic development has led to an improved lifestyle of consumers, thus fueling the demand for quality-based plastic for daily use. The surging middle-class population coupled with increasing construction activities will enable speedy expansion of the market in the region. The plastic industry in China has experienced immense growth during the forecast period owing to the demand for new housing units and vehicles.
Information source: https://www.fortunebusinessinsights.com/ethylene-market-104532