Polyethylene is a most widely used plastic globally. It is used for broad range of applications such as packaging, construction, electrical, electronics, and automotive, owing to its several characteristics, including light weight, high impact strength, high chemicals resistance, excellent process ability, and so on. Growing economies such as China, India, Russia, and Brazil offers huge impetus for the growth of polyethylene market in these countries.
The Asia-Pacific polyethylene market is expected to grow at a CAGR of 11.3 % from 2013 to 2018 – a new study from MicroMarket Monitor reports. The demand for polyethylene is anticipated to increase in the future because of growing demand for high barrier thin film in the Asia-Pacific. The demand from countries such as India and China is expected to grow at a higher rate as demand for polyethylene is increasing tremendously from the end-user industries.
Europe is the second major market in the global polyethylene market. Automotive industry is the fastest-growing application market for polyethylene. The demand for polyethylene is growing within the end-user industry in Europe, owing to its properties, such as good heat resistance, electric insulation, corrosion inhibition, low density, etc. Major countries in the region are Italy, France, and Germany.
Consumption of polyethylene in the North America region is expected to grow at a CAGR of 8.30% between 2013 and 2018. Availability of cheap natural gas-based feedstock, owing to highly productive shale gas is stimulating polyethylene industry in the region. Packaging industry accounts for the major share of the North America polyethylene market. Major countries in the regions are the U.S., Canada, and Mexico.
Meanwhile, the declining shale gas prices in North America drive the region’s n-butanol market. The market is predominantly driven by the budding butyl acrylate and glycol ether demand, which is primarily due to growing end applications of these products in the region, such as paints & coatings, adhesives, inks, etc. The low shale gas prices enable the producers to take advantage of low prices of feedstock for the production of n-butanol, and develop a strong export market to meet the escalating demand across various regions including Asia-Pacific and Middle East.
The North America n-butanol market had been valued at $1.8 billion in the year 2013, it is expected to grow at 5.4% annually, and is projected to reach $2.3 billion by the end of the year 2018. The North America n-butanol market constitutes 26.7% of the global market, and is poised to grow its market share to 24.6% by the end of year 2018.
Globally, there has been a considerable growth with respect to progress in the production and application of n-butanol as a biofuel. Butanol is a very competitive renewable biofuel for use in internal combustion engines, given its many advantages. On comparing the properties of butanol with the conventional gasoline, diesel fuel, and some widely used biofuels, i.e. methanol, ethanol, biodiesel, it was derived that n-butanol has the potential to overcome the drawbacks brought in by low-carbon alcohols or biodiesel.
The market for n-butanol has grown significantly during the past few years. It is forecast to grow at a more rapid pace in the next five years, mainly driven by the growing demand in the Asia-Pacific region. China consumed around 34.8% of the global n-butanol demand in 2012. Production facilities of n-butanol are mostly concentrated in Europe and North America, which are the key exporting regions.
Asia-Pacific n-butanol market had been valued at $3.0 billion in the year 2013 growing at 7.7% annually, and is projected to reach $4.3 billion by the end of the year 2018. Asia-Pacific n-butanol market constitutes 44.5% of the global n-butanol market, and is poised to grow its market share to 45.7% by the end of year 2018.
The global market for n-butanol was estimated at 3,802.5 KT in 2012, and is further forecasted to grow at a CAGR of 4.6% from 2013 to 2018, to reach 4,980.0 KT by 2018. Asia-Pacific dominated the global n-butanol market and consumed around 49.9% in 2012. Rapidly growing end-user industry demand in this region is driving growth of the n-butanol market.
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