According to the recent 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 garnered a valuation of USD 162.50 billion, 161.05 million tons in terms of volume in 2019, and is expected to grow considerably over 2020-2025.
 

As per the report findings, global ethylene market growth is primarily driven by surging demand for plastic, rising necessity of aseptic packaging in beverage sector, and flourishing food industry.
 

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For the unversed, ethylene is a petrochemical-derived monomer that is used in various end-use products, including fibers and plastics. It is prominently 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.
 

Ethylene 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.
 

With respect to feedstock gamut, naphtha segment currently holds significant part of worldwide ethylene industry share. Naphtha is commonly used in the petrochemical sector to dilute heavy oils, clean metal from pipelines, and generate high-octane gas. It is also used to make olefins and aromatics such as benzene, propylene, ethylene, and toluene, among others. Rapid urbanization and booming population necessitate accessibility to cost-effective olefin-rich fuels, subsequently boosting the demand for naphtha across the globe.
 

As per application spectrum, polyethylene segment is anticipated to witness an uptrend through 2025, due to rapid urbanization and industrialization. Polyethylene, commonly known as polythene, is a type of thermoplastic polymers and is produced for several purposes based on its polymerization process.
 

Moving on to end user scope, global ethylene market size from packaging segment is projected to expand significantly over 2020-2025. This can be attributed to widespread utilization of ethylene by the packaging industry in manufacturing products like ethylbenzene and polyethylene, as it is lightweight, has robust compression qualities, and protects delicate objects from damage.
 

Geographically, North America, Asia Pacific, and Europe are the leading contributors to the overall market remuneration. Analysts cite that Asia Pacific is anticipated to emerge as a lucrative avenue over the forecast period with rising use of polyethylene in packaging, pipes, and elastic film applications in the region. Besides, thriving automotive, packaging, construction, and textile end-use industries will also propel the regional market growth.
 

Major players contributing to global ethylene market development are Nova Chemicals Corporation, Repsol S.A., BASF SE, Westlake Chemical Corporation, Chevron Phillips Chemical Company, Sinopec Group, Royal Dutch Shell plc, Exxon Mobil Corporation, LyondellBasell Industries N.V., and Saudi Basic Industries Corporation (SABIC).