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 Market Study Report, global ethylene market was worth USD 162.50 billion in 2019 and is anticipated to grow momentously over 2020-2025.
 

Surging production of polyethylene, expansion of food industry, and increased demand for aspectic packaging from beverage sector are the factors acting as drivers for the growth of global ethylene market.
 

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For those unaware, ethylene is a monomeric petrochemical used in various end use products like plastics and fibers. Highly demanded in chemical industry, ethylene finds usage in production of polyethylene, that is a commonly used plastic that contains ethylene polymer chains of varying lengths. Ethylene is an important organic chemical and a building block for many chemicals ranging from antifreeze solutions to plastics.
 

Based on feedstock, global ethylene market is segmented into ethane, naphtha, butane, and propane. The report cites that naphtha segment is poised to hold a modest industry share over 2020-2025, owing to its widespread usage in petrochemical vertical for diluting heavy oils, manufacturing high-octane gas, and cleaning metal from pipelines. Incorporation for production of aromatics and olefins, in tandem with increasing demand for olefin rich fuels due to growing populace and urbanization will boost the segmental growth.
 

Speaking of application range, the marketplace is divided into ethylene oxide, polyethylene, and ethylene dichloride among others. Industry share from polyethylene application is slated to raise over the forecast period, owing to growing industrialization and rapid urbanization.
 

Moving on to end user spectrum, worldwide ethylene industry is classified into packaging, automotive, and building & construction including others. As per the report, packaging segment is anticipated to generate decent revenues for the market by the year 2025, pertaining to rising adoption of ethylbenzene and polyethylene. These materials light weight and have strong compression properties that protects delicate objects in case of any accident.
 

Regionally, Asia Pacific ethylene market is poised to grow substantially over the forecast period, on account of increasing use of polyethylene in packaging, elastic film applications, and pipes.
 

Established firms in worldwide ethylene market sphere are NOVA Chemicals Corporation, Repsol S.A., BASF SE, Westlake Chemical, Chevron Phillips Chemical Company LLC, China Petroleum & Chemical Corporation (Sinopec), Royal Dutch Shell, Exxon Mobil Corporation, LyondellBasell Industries N.V., and Saudi Basic Industries Corporation (SABIC).