Asia-Pacific Ethylene Market Overview: 2024-2030

Base Year: 2023

Historical Years:  2019-22

Forecast Years: 2024-2030

The Asia-Pacific Ethylene Market is anticipated to grow at a CAGR of around 5.9% during the forecast period, i.e., 2024-30.

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Asia-Pacific Ethylene Market Dynamics: 2024-2030

Asia-Pacific Ethylene Market Driver:

Ever-Rising Demand for Plastics & Packaging Materials - The growing middle-class populace and changing lifestyles in Asia-Pacific are leading to rapidly increasing consumption of packaged goods, which require ethylene-based products like polyethylene for packaging purposes. Since the packaging industry, including food & beverages, personal care products, and e-commerce packaging, is a major consumer of ethylene, its significant growth in Asia-Pacific is driving the ethylene market. In addition, the construction sector is also boosting the demand for polyethylene. With massive investments in infrastructure development, ethylene-based products like pipes, fittings, & construction materials are in high demand, i.e., another prominent aspect projected to drive the Asia-Pacific Ethylene Market during 2024-30.

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Asia-Pacific Ethylene Market (2024-30): Segmentation Outlook

The market report has segmented the market into the following categories:

By Application

-High-Density Polyethylene

-Low-Density Polyethylene

-Ethylene Oxide

-Ethyl Benzene

-Others (Vinyl Acetate, Vinyl Acetate, etc.)

By Feedstock

-Naphtha

-Natural Gas

By End-User Industry

-Chemicals

-Building & Construction

-Food & Beverages

-Personal Care

-Automotive

-Packaging

-Textile

-Others (Glass, Medical, Pulp & Paper, etc.)

Here, the significantly growing packaging industry in the Asia-Pacific region holds the most prominent market share.

By Country

-China

-Japan

-India

-South Korea

-South East Asia

-Oceania

-Rest of Asia-Pacific.

Of all countries in Asia-Pacific, China is currently the largest ethylene market, which owes to its large population, 

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Top Companies Operating in the Asia-Pacific Ethylene Market:

-Reliance Industries Limited

-LyondellBasell Industries N.V.

-Mitsubishi Chemical Corporation

-Dow Chemicals

-Honam petrochemical

-LG chemical

-Sinochem Holdings

-Sinopec

-PetroChina

-Hengli Petrochemical

-Indian Oil Corporation Limited

-Haldia Petrochemicals Limited.

Industry Recent Developments

• On 22 May 2023, Sinopec signed a key terms agreement with KazMunayGaz, the national operator of the oil & gas industry of Kazakhstan, for developing a polyethylene project in the Atyrau Region in Xi'an, China.
• On 28 March 2023, Lotte Chemical Indonesia, a subsidiary of South Korean-based Lotte Group, successfully secured financing for the construction of a petrochemical complex in Banten Province, Indonesia. The project, upon its completion in 2025, will manufacture 1 million tons of Ethylene and 520,000 tons of Propylene each year.

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