According to the research report titled ‘Global Ethylene Market (Value, Volume) - Analysis By Feedstock, Application, End-Use, By Region, By Country (2020 Edition): Market Insights, Covid-19 Impact, Competition and Forecast (2020-2025)’, available with MarketStudyReport, global ethylene market was worth USD 162.50 billion in the year 2019 and is anticipated to garner lucrative returns by the year 2025.
 

Flourishing food industry, in consort with rising demand for polyethylene & aseptic packaging in beverage sector are the major growth catalysts for global ethylene market.
 

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For the unversed, ethylene is a petrochemical-derived monomer that is used in a variety of end-use goods, including fibers and plastics. Ethylene is utilized in the chemical industry, with the majority of it going into polyethylene, a commonly used plastic made up of polymer chains of ethylene units of varying lengths. It is the building block for a wide range of chemicals, from antifreeze solutions and solvents to plastics, and is one of the most important organic molecules by volume.
 

Based on feedstock, naphtha segment holds a significant market share at present. The expansion is attributed to rising demand for cost-effective olefin-rich fuels due to the rising population and rapid urbanization. The product is used to manufacture high-octane gas, clean from pipelines, and dilute heavy oils.
 

On the basis of application spectrum, polyethylene segment of worldwide ethylene market is likely to gain traction during the forecast period, owing to rapid urbanization and industrialization.
 

In terms of end-use, packaging segment is poised to gain substantial market shares during the analysis period, owing to lightweight and effective compression properties of ethylene which enable the packaging to safeguard fragile objects in case of being dropped or crushed.
 

Considering the regional landscape, Asia Pacific holds the significant market share at present and is anticipated to grow substantially during the forecast period, on account of growing automotive, packaging, construction, and textile end-use industries.
 

The key players in global ethylene marketplace are NOVA Chemicals Corporation, BASF SE, Westlake Chemical, Sinopec Group, Repsol S.A., Royal Dutch Shell plc, Exxon Mobil Corporation, LyondellBasell Industries N.V., Chevron Phillips Chemical Company LLC, and Saudi Basic Industries Corporation (SABIC).