The raw material required to create ethylene is utilized to create a variety of derivatives, including polyethylene, ethylene oxide, ethylene dichloride, and other derivatives including ethyl benzene, vinyl acetate, alpha olefins, etc. With a market share of over 60% on the global ethylene market, polyethylene is thought to be the largest derivative sector. The main driver of the ethylene market's strong growth throughout the projection period is the rising consumption of ethane, propane, butane, and coal for the low cost manufacture of ethylene. Thus, polyethylene has become the largest derivative sector in the global ethylene market due to the expanding polyethylene market in developing regions like the Middle East, Latin America, and Asia Pacific. The production of ethylene invoslves a number of processes, including steam cracking of hydrocarbons, compression, and distillation. The manufacturing of ethylene uses a variety of feedstocks, including naphtha, ethane, butane, propane, coal, and others (MTO, gasoil).
Coherent Market Insights estimates that the market for Ethylene in the world was worth US$ 107.65 billion and 146.6 million metric tons in 2016, and it is anticipated to grow at a CAGR of 8.7% for revenue and 5.3% for volume between 2017 and 2025.
Key Companies in the Ethylene Industry:
1. The Dow Chemical Company
The company was started in 1897 and has its main office in Midland, Michigan, U.S As a chemical firm, The Dow Chemical firm does business. The company manufactures rubber, plastics, agricultural science, and specialty chemicals. Dow Chemical offers support to the packaging, building, food, and personal care industries globally. Dow and New Energy Blue established a partnership in May 2023 to create renewable plastic materials using leftover maize.
2. INEOS Group AG
The business was established in 1998 and is based in London, England. The INEOS Group manufactures petrochemicals, specialty chemicals, and oil products on a global scale. Ineos inked a 10-year agreement to buy offshore wind energy from Engie's Northern wind project in September 2020. Ineos announced in January 2021 that it would donate £100 million to Oxford University to open a new center for the study of antibiotic resistance.
3. Saudi Basic Industries Corporation (SABIC)
The company was started in 1976 and is based in Riyadh, Saudi Arabia. The company produces steel and chemicals. The company makes chemical gases, thermoplastic resins, polyester, which is melamine, benzene, toluene, xylene, methanol, ethylene, propylene, and urea fertilizers in addition to both long and flat both hot and cold rolled steel products.
4. Exxon Mobil Corporation
The firm was started in 1999 and is based in Irving, Texas, United States. The Exxon Mobil Corporation runs companies in petrochemicals and petroleum. In order to meet the fifth MTA milestone, ExxonMobil and Nucor Corporation negotiated a carbon capture agreement in June 2023. ExxonMobil announced two additional Guyana discoveries in October 2022.
5. Royal Dutch Shell plc
The firm was started in 1907 and is based in London, United Kingdom. The business operates a network of gas stations and discovers and refines petroleum products. It also manufactures and imports fuels, chemicals, and lubricants. Shell stated in November 2021 that it will be changing its name from Royal Dutch Shell plc to Shell plc, moving its headquarters from The Hague to London, and giving up its dual share structure.
6. Total S.A.
The company was started in 1924 and is based in Courbevoie, France. The business also refines petrochemical goods in addition to producing, transporting, and supplying crude oil, natural gas, and low-carbon power. As a symbol of its commitment to the generation of green electricity, the corporation declared a name change to TotalEnergies in 2021.
7. LyondellBasell Industries
The company was started in 2007 and is based in Rotterdam, Netherlands. The company Lyondellbasell Industries, Inc. produces petrochemicals. The business manufactures polypropylene and its compounds, polypropylene oxide, polyethylene, ethylene, and propylene, as well as other petrochemical goods.
Definition: The smallest olefinic hydrocarbon or organic hydrocarbon, ethylene, is the primary raw material often produced from different hydrocarbons and is utilized in the production of polymers like textiles, plastics, and other organic compounds.
