Olefin Market size was valued at USD 250 Billion in 2024 and is forecasted to grow at a CAGR of 4.5% from 2026 to 2033, reaching USD 350 Billion by 2033.
In 2022, the global olefins market was valued at approximately USD 213 billion, with a projected compound annual growth rate (CAGR) of 4.8% from 2023 to 2032, aiming to reach USD 343 billion by 2032. The Asia Pacific region dominated the market, driven by increased propylene consumption, particularly in China and Indonesia. In 2021, China imported around 2.5 million metric tons of propylene monomer, while Indonesia imported approximately 136 kilotons. South Korea and Japan were significant exporters, with 1.65 million and 0.57 million metric tons of propylene exported, respectively. The regions rapid urbanization has spurred demand for plastics, further bolstered by investments in production facilities. North America held the second largest market share, with the United States increasing its ethylene production capacity by 11% to 43.5 million metric tons per year in 2022. The growing use of polyolefins in the food and packaging industries contributed to this growth. Europe experienced steady growth, supported by investments like the Euro 4 billion ethane cracker project announced in December 2022, aimed at converting ethane into ethylene. Government initiatives, such as Norways approval for developing 19 oil and gas fields with initial investments of 200 billion Norwegian crowns, further propelled the market. Additionally, Europe anticipated 494 projects between 2023 and 2027, with the United Kingdom leading, accounting for 19% of these initiatives.
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Shell Chemical Ltd.
Chevron Phillips
INEOS Oligomers
Sasol
Idemitsu Petrochemical
Sinopec Beijing Yanhua
ONGC
Exxon Mobil Corporation
Saudi Arabia Basic Industries Corporation
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Olefin Market
Low-Density Polyethylene (LDPE)
High-Density Polyethylene (HDPE)
Linear Low-Density Polyethylene (LLDPE)
Ethylene Propylene Diene Monomer (EPDM)
Packaging
Automotive
Construction
Electrical & Electronics
Textiles
Polymerization
Cracking
Polymerization and Copolymerization
Packaging Industry
Automotive Industry
Construction Industry
Electrical and Electronics Industry
Granules
Pellets
Sheets
Films
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Olefin Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Olefin Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Olefin Market, By Type
6. Global Olefin Market, By Application
7. Global Olefin Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Olefin Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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