According to the research report titled ‘Ethylene Market Share, Size, Trends, Industry Analysis Report By Feedstock; By Application; By End-Use; By Region, Segment Forecast, 2020 – 2026’, available with Market Study Report, global ethylene market is expected to account for USD 186.5 billion by the year 2026.
 

For a while, increasing infrastructural development, especially of the hospitality sector, has been a major factor driving the growth of global ethylene market. Although the ongoing COVID-19 pandemic has postponed the apparent projects and completion dates, the hospitality sector is likely to recover post the pandemic.
 

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Moreover, focus among worldwide governments to stabilize the economy post the pandemic coupled with improving ethylene production capacities are also fueling the market size.
 

It is worth mentioning that relation between global ethylene market and GDP has somewhat diluted since the recent past, with several sectors such as technology and service predominately influencing the GDP as compared to the manufacturing. Consumer preferences towards recycling and sustainability is also likely to impact the demand for ethylene in the upcoming years.
 

Growing demand for CTO and MTO technologies for producing ethylene is likely to act as a lucrative opportunity for industry participants, since Ethane and Naphtha are relatively expensive. Declining oil and feedstock prices have compelled manufacturers to use MTO and CTO technologies.
 

Saudi Basic Industries Corporation, Clariant AG, Akzo Nobel N.V., Huntsman International LLC, Total S.A., China Petroleum & Chemical Corporation, Royal Dutch Shell Plc, DuPont de Nemours Inc., and Exxon Mobil Corporation are the key competitors in global ethylene market.