Global ethylene market to grow at a CAGR of 6.2%, to touch $177.83 billion by 2017

WASHINGTON (Scrap Monster): The findings of the recent study conducted by Market Research Reports forecasts Compound Annual Growth Rate (CAGR) of 6.2% to the global ethylene market. The global market will rise from $131.88 billion in 2012 to $177.83 billion by the end of 2017.

According to the report, Asia-Pacific region will turn out to be the major driver of ethylene growth. The rising demand for polyethylene and ethylene oxide from China will boost the growth rate in the region. The region’s ethylene market is expected to grow at CAGR of 7.2% from $50.59 billion in 2012 to $71.63 billion by 2017. The region’s CAGR growth is poised to outpace the global growth rate, the report said.

The ethylene market in North America is forecast to grow at a CAGR of 4.3% from $37.78 billion in 2012 to $46.61 billion by 2017.

The report also states that Asia-Pacific region will witness largest capacity addition during the period. The capacity addition in the region will grow significantly at a CAGR of 6.3% from 49.67 million tpa in 2012 to 67.40 million tpa by end-2017.

Heavy investments from petrochemical companies may boost the capacity addition in the US. The US capacity addition is set to reach 36.49 million tpa in 2017, growing at a CAGR of 6.1% from 27.17 million tpa in 2012.

Further, the report indicates that polyethylene, ethylene oxide, ethylene dichloride and ethylbenzene industries may account for much of the global ethylene consumption.