Market Research Future Published a Half Cooked Research “Global Polyethylene Market Research Report – Forecast to 2027” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2027.
BASF SE, BP Plc, INEOS, Saudi Basic Industries Corporation, Petronas, China National Petroleum Corporation, China Petroleum & Chemicals Corporation, National Petroleum Company , Polimeri Europa ,Mitsui Chemicals Inc,Exxon Chemicals, Formosa Plastics Limited, Sumitomo Chemicals, DuPont, Chevron Philips, LyondellBasell Industries Ltd., Dow Chemicals Company, NOVA Chemicals, Reliance Industries and Petrobras. are some of the prominent players at the forefront of competition in the Global PolyethyleneMarket and are profiled in MRFR Analysis.
Polyethylene Market – Market Overview
Considered as the largest polymer Polyethylene is widely consumed across an array of industries viz. plastic & packaging, automotive, construction, electrical & electronics, furniture, and consumer goods among others. Primarily, the demand for Polyethylene Market is propelled by the increasing consumption of plastics products across the globe.
In terms of supply and demand of raw material used for polyethylene, China holds a significant market share globally. Although China lags in terms of oil & gas reserves, the country is rich in coal. To reduce the dependency on ethylene imports and produce self-sufficient amount of ethylene and ethylene derivatives, China is opting for production of ethylene from coal. China’s coal to olefins is a multi-step process wherein coal is converted to syngas, which is converted to methanol; methanol is thereafter converted to olefins (ethylene and propylene). Ethylene output capacity from various coal to olefins plants in China is estimated to be around 1.6 million tons. Additionally, upcoming naphtha cracker expansions in 2017 and 2018 in China, South Korea and Malaysia is expected to add 1.4 million tons/year of ethylene capacity in the Asia Pacific region. An abundant supply of feedstock i.e. ethane from shale gas in the US has resulted in the major capacity expansion of ethylene in the North America region. For instance, Dow Chemical’s 0.25 million metric tons/year ethylene expansion at its Louisiana operations complex in Plaquemine set for completion by end-2017.However, tomorrow’s demand for ethylene is expected majorly from the emerging markets.
Protuberant factors associated with the growth of Global Polyethylene Market includes the pulsating demand for various type of polyethylene (HDPE, MDPE, LDPE, LLDPE) across an array of industries. Among the various end-use industries, packaging sector accounts for the largest market share in terms of consumption of Polyethylene, which is followed by construction and automotive sector. Regional dynamics include the regained stability of economy in the developed markets such as North America and Europe, which in turn is witnessing increasing construction and growth in manufacturing sector. Whereas, the emerging markets are expected to register significant growth rates in the coming years, owing to the rapid urbanisation and industrialisation in the region. Furthermore, an increasing middle class income and spending on white goods can be further attributed to the market’s growth in emerging markets.
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Polyethylene Market – Competitive Analysis
As discussed earlier, the demand for Polyethylene is expected from the emerging economies such as China, India and ASEAN. China is poised to grow at a CAGR of nearly 7 %, whereas, India is expected to grow at a CAGR of nearly 9%. With new avenues for polyethylene the major trend observed among manufacturers are capacity additions.
Foreseeing the demand manufacturers in China are increasing its capacity for ethylene production with major capacity additions ready to commence production in first quarter of 2018, 2019, 2021, 2023. China poised to raise its ethylene capacity by 71%. For instance, CNOOC Limited capacity addition of ethylene which is scheduled to commence production from the 2018Q1.
Similarly, recently merged DowDuPont announced its new integrated world scale ethylene and propylene production facility in Texas. The plant will produce 400,000 MT polyethylene resin for flexible food and industrial packaging applications.
Industry/ Innovation/ Related News:
November, 2017- DowDuPont announced its new integrated world scale ethylene and propylene production facility in Texas. The plant will produce 400,000 MT polyethylene resin for flexible food and industrial packaging applications.
October, 2017-, Reliance Industries Ltd., commenced production in new ethane-based polyethylene plant located in Gujarat, India. The plant comprises of 550 ‘000 MT/year LLDPE line and 400 ‘000 MT/year LDPE unit. The company is targeting the African and South Asia market with this strategic expansion.
September, 2016-, GAIL India Ltd., commenced production of polyethylene in its Pata petrochemical in Uttar Pradesh, India. An additional 400,000 tonnes/year increasing the company’s total production capacity to 810,000 tonnes/year. The expansion was in line with the increasing demand for polyethylene from new market avenues.
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