Ethylene finds applications across various industry verticals, such as automotive, packaging, healthcare, textile, agrochemicals, and building & construction industries, among others. Rising investments in Asia-Pacific are leading to infrastructural development, thereby positively impacting the demand for construction fittings and pipes. In the automotive sector, ethylene is used in the production of specialty glass. In the metal fabrication industry, it is used as oxy-fuel gas in metal cutting, welding, and high-velocity thermal, further driving the market growth.
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Impact of COVID-19 on Ethylene Market
The lockdown in Europe and Asia-Pacific is rapidly decelerating the petrochemical demand, further decelerating the naphtha market. The collapse in demand for crude oil from international markets with limited workforce availability has adversely affected the availability of raw material for ethylene production. Similarly, the demand for plastic is witnessing a considerable decline in the automobile sector across Europe. As per the European Automotive Manufacturers Association, the COVID-19 outbreak has translated about 1.5 million worth production losses for European automobile industries. The shutdowns in Spain, France, and other countries have decelerated the demand for PVC plastics largely used for manufacturing fittings and pipes, further hampering the ethylene market growth.
Ethylene Market: Segmentation
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now