Light Olefins Industry 2022-2030

The primary driver of the global light olefins market is consumers ' changing emphasis on plastic products over traditional things such as wood, plastics, steel, and others due to lower energy and raw material costs for light olefins production. In addition, a further factor boosting demand growth is the excellent recovery of light olefins from methanol. The key driver of the global light olefins market is the shift in customer preference to plastic products over traditional items such as wood, plastics, steel, and others due to lower energy and raw material costs for light olefins production. In addition, the excellent conversion of light olefins from methanol is another driving factor for market growth.

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Some of the eminent players operating in the global light olefins market are Exxon Mobil Corporation (U.S.), BASF SE (Germany), Royal Dutch Shell (Netherlands), Reliance Industries Limited (India), DowDuPont (U.S.), China Petro & Chemical Corp (China), Gazprom (Russian Federation), Saudi Arabian Oil Co. (Saudi Arabia), Petrochina (China), and Honeywell International Inc. (U.S.).

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The global light olefins market 2020 was previously valued at USD 254.6 billion in 2016 and is poised to secure up to USD 475.8 million by 2024 at a CAGR of 5.58% over the review period.

Replacing oil with shale gas, which is extracted from ethylene, is another driving force behind the market growth. Increasing oil & gas reserves exploration across the globe is expected to drive market growth over the assessment period. Increasing trends in the use of light olefins to produce bio-ethylene bio-fuel using maize and sugar cane are also likely to boost market growth due to the increasing demand for carbon dioxide emissions control. Ethylene is nevertheless harmful and can have detrimental environmental effects, which may challenge the market growth. 

Regional Overview

The global demand for light olefins has been distributed across five central regions, including Europe, North America, Asia Pacific, Latin America (LATAM), and the Middle East & Africa. Asia Pacific emerged as the leading light olefins market in 2016 and is projected to rise at a moderate CAGR of 6.22 percent over the forecast period, accounting for 40 percent of the total demand share. In addition, the demand for reliable and high-performance vehicles in countries like Japan, India, and China is increasing demand for biofuel. The availability of cheap biomass and raw materials, such as maize and sugar cane, for bio-ethylene production in India, has increased demand growth.

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North America was the second-largest market in 2016, estimated at USD 151.1 billion, and is predicted to rise at a promising CAGR of 5.6 percent over the forecast period. The feedstock benefit, coupled with the low-cost availability of ethane, is one of the North American region's main drivers for demand development. In the U.S., robust demand from the packaging industry is strongly affecting business growth. The United States accounted for about 78% of the market share in 2016 and is expected to rise at a healthy CAGR of 5.72% during the assessment period.

Segmental Analysis

The Light Olefins Industry is categorized according to the application, type of product, derivatives, and region. The market is bifurcated into ethylene and propylene-based upon the product type. Ethylene accounted for 60 percent of the largest market share in 2016, with a market valuation of USD 152.7 billion and is anticipated to grow at a CAGR of 5.78 percent over the forecast period.

The market is segmented in based on the derivatives into styrene, propylene oxide, acrylonitrile, acrylic acid, cumene, oxo alcohols, polyethylene, ethylene oxide/ glycol, EDC/ VCM/ PVC, polypropylene, alpha-olefins, and acetate monomer.

By the application, the market is sub-bifurcated into chemical commodities and refinery.

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Table of Content

1 Report Prologue

2 Scope Of The Report

2.1 Market Definition 17

2.2 The Scope Of The Study 17

2.2.1 Research Objectives 17

2.2.2 Assumptions 17

2.2.3 Limitations 17

2.3 Market Structure 18

3 Research Methodology

3.1 Research Process 21

3.2 Primary Research 21

3.3 Secondary Research 21

3.4 Market Size Estimation 22

3.5 Forecast Model 23

4 Market Dynamics

4.1 Introduction 25

4.2 Drivers 26

4.2.1 Increasing Demand For Polymer 26

4.2.2 Excellent Conversion Of Light Olefins From Methanol 27

4.3 Restraint 28

4.3.1 Ethylene Exposure To Air Affects The Environment 28

4.4 Opportunity 29

4.4.1 Shale Gas Development 29

4.5 Trends 29

4.5.1 Biomass Feedstock To Bio-Ethylene 29

5 Market Impact Analysis

5.1 Supply Chain Analysis 31

5.1.1 Raw Material Suppliers 31

5.1.2 Light Olefins Producers 31

5.1.3 Distributors 32

5.1.4 End User 32

5.2 Porter’s Five Forces 32

5.2.1 Threat Of New Entrants 32

5.2.2 The Intensity Of Competitive Rivalry 32

5.2.3 Bargaining Power Of Supplier 32

5.2.4 Bargaining Power Of Buyer 32

5.2.5 Threat Of Substitute 32

6 Global Light Olefins Market, By Type

6.1 Ethylene 35

6.2 Propylene 36

7 Global Light Olefins Market, By Derivatives

7.1 Polypropylene 40

7.2 Propylene Oxide 41

7.3 Acrylonitrile 42

7.4 Cumene 43

7.5 Acrylic Acid 44

7.6 Oxo Alcohols 45

7.7 Polyethylene 46

7.1 Ethylene Oxide/Glycol 47

7.2 EDC/VCM/PVC 48

7.3 Styrene 49

7.4 Alpha Olefins 50

7.5 Vinyl Acetate Monomer 51

8 Global Light Olefins Market, By Application

8.1 Chemical Commodities 54

8.2 Refinery 55

9 Global Light Olefins Market, By Region

9.1 Introduction 57

9.2 North America 62

9.2.1 US 66

9.2.2 Canada 69

9.3 Europe 73

9.3.1 Germany 78

9.3.2 France 81

9.3.3 UK 84

9.3.4 Spain 87

9.3.5 Italy 90

9.3.6 Rest Of Europe 93

9.4 Asia Pacific 97

9.4.1 China 101

9.4.2 Japan 104

9.4.3 India 107

9.4.4 Rest Of Asia Pacific 110

9.5 Latin America 114

9.6 Middle East & Africa 119

10 Competitive Landscape

10.1 Introduction 125

10.1.1 Market Strategy Overview 125

10.2 Key Development Analysis 126

10.2.1 Expansion 126

10.2.2 Acquisition 126

10.2.3 Joint Venture 127

10.2.4 Agreement 127

11 Company Profile

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