Global Ethylene Dichloride Market: Trends Analysis & Forecasts to 2023
NEW YORK, Nov. 17, 2017 /PRNewswire/ --
The global ethylene dichloride market is expected to grow at a CAGR between 3.0% and 3.5% from 2017 to 2023. Ethylene dichloride (also known as EDC) is a chlorinated hydrocarbon liquid, which is colourless, flammable, pleasant smelling and oily. Ethylene dichloride is also known as 1,2-dichloroethane. Ethylene dichloride is predominately used as an intermediate for the manufacturing of monomer of vinyl chloride, a raw material, used for the manufacturing of poly vinyl chloride (PVC). Ethylene dichloride is also used for manufacturing chemical solvents such as ethylene amines, trichloroethane, trichloroethylene, and vinylidene chloride. EDC is used as solvents in industries such as adhesives, metal cleaning, and textile.
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The growth in the PVC market is expected to drive the growth of ethylene dichloride market as over 95% of the output of the ethylene dichloride is used in PVC industry. The major end user applications of PVC are in the construction industry, and the growth in construction sector is likely to drive the growth in global ethylene dichloride market over the forecast period. Furthermore, the advanced resins developed with the utilization of EDC as major raw material are expected to provide growth opportunities for the market during the forecast period.
The price of ethylene dichloride is dependent on the crude oil prices hence fluctuations in crude oil prices is likely to affect the prices of ethylene dichloride.
Moreover, fluctuation in the demand in the PVC market has a direct influence on the growth of ethylene dichloride market. Hence these two factors act as a major restraining factor in the growth of the EDC market.
Moreover, health issues associated with EDC such as inhaling ethylene dichloride could give respiratory ailments, nausea, and it can affect liver, kidney, and central nervous system. When it is heated up to decomposition, it emits toxic fumes of hydrochloric acids. Hence, environmental and health issues are major challenges for the growth of the ethylene dichloride market, as some industries may look for eco-friendly alternative products to comply with government guidelines. Using bio-ethylene made from bio-ethanol can reduce the dependence of the industry on fossil fuels for feedstock. Furthermore, with the usage of bio-ethylene the emissions of Greenhouse gas is likely to be considerably less during the EDC manufacturing process and it is expected to help the market to comply with the environmental regulations in many countries.
Segments Covered:
The report segments the global ethylene dichloride market by applications, types of process, and region. Applications include agricultural chemicals, chemical intermediate, chemical solvents, and VCM/PVC raw materials production. On the basis of type of process, the market is segmented into, catalyst law, chlorination and direct synthesis.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. North America region has accounted for the highest ethylene dichloride consumption in the world over 2014 and 2015.
Moreover, the ethylene dichloride manufactured in the US is expected to cost lesser, as majorly it is manufactured from cheaper ethane produced by the shale gas industry. Asia-Pacific region is expected to grow at the highest CAGR in the world EDC market. The growth in the region is attributed to presence of the new large projects in the ethylene dichloride market in this region. The demand in the developing countries in the Asia-Pacific region is expected to drive the growth in the global market. The U.S with its position as one of the largest EDC producers in the world drives the North America ethylene dichloride market. Furthermore. Belgium, France and Germany are among the top ethylene dichloride producing countries in the European region.
Companies profiled:
The companies covered in the report include Bayer AG, Dupont, Formosa Plastics, INEOS Group Ltd, LG Chem Ltd, Occidental Chemical Corporation, Reliance Industries, Saudi Aramco, Solvay SA, and The Dow Chemicals.
Report Highlights:
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of ethylene dichloride globally as well as regionally.
Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and value chain analysis of ethylene dichloride.
Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the ethylene dichloride market that will impact the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers, and distributors of the ethylene dichloride market to understand the present and future trends in this market and formulate their strategies accordingly.
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