Ethylene Dichloride Market By Product (Medicine grade, Industrial grade); By Application (Automotive, Building & construction, Plastic industry, Others) - Global Historical Growth (2012-2016) & Future Outlook (2017-2027) Demand Analysis & Opportunity Evaluation
Buy Now Report ID: 1002 | Published Date: Feb 08, 2023
Our in-depth analysis has segmented ethylene dichloride market into the following segments:
Ethylene dichloride market is further classified on the basis of region as follows:
Global ethylene dichloride market is anticipated to flourish at a CAGR of 5% over the forecast period i.e.2017-2027. Moreover the market of ethylene dichloride is expected to reach 58 million tons by the end of 2027. The major application of ethylene dichloride is in manufacturing of the PVC which has large numerous end user application in various sector such as automotive, construction, plastic and others. This factor is likely to drive the growth of the global ethylene dichloride market during the forecast period.
Asia Pacific is the major regional market of ethylene dichloride market is expected to grow at highest CAGR over the forecast period. PVC has major application in automotive and construction sector. The growing demand for the PVC product in Asia’s countries such as India, China due to presence of new large number of project is expected to bolster the growth of the global ethylene dichloride market during the forecast period. Further, North America is prominent market of ethylene market is expected to witness of high growth rate over the forecast period. The US is one of the largest producers of ethylene dichloride in this region which drives the North America market in upcoming years. Factor such as rising house renovation and utilization of plastic product in this region is anticipated to garner the growth of the global ethylene dichloride market in upcoming years.
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The ethylene dichloride market has been segmented by application such as food beverages, oil refining, rubber industry, dyes industry, pesticide industry, and others out of which oil refining, and food beverages is anticipated to account for the largest market share in overall ethylene dichloride market over the forecast period.
Increasing utilization of PVC product in automotive and construction sector is the key factor which drives the growth of the ethylene dichloride market across the globe. Furthermore, innovative resin produced with the utilization of the ethylene dichloride as raw material is likely to garner the EDC production. Moreover, several big companies also pay more focus in the ethylene dichloride and investing in this field. These market activities are opening a gateway of opportunities for the growth of the ethylene dichloride market and expected to bolster the
Apart from this, ethylene dichloride finds their use in several applications in plastics industries pharmaceutical, automotive, and construction. These factors are expected to positively impact the growth of ethylene dichloride market during the forecast period. As population is increasing worldwide the demand of the plastic product is also rising which is predicted to foster the growth of ethylene dichloride market across the globe.
In contrast, EDC is toxic and high flammability compound. Further it is petroleum product cost of EDC directly depend on the price of the crude oil which is anticipated to dampen the growth of the ethylene dichloride market during the forecast period.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Smruti Ranjan, Rajrani Baghel
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