Ethylene Dichloride Market Forecast Hit by Coronavirus Outbreak, Downside Risks Continue to Escalate

Valley Cottage, NY -- (SBWire) -- 07/09/2020 --Upsurge in Demand for PVC Resins and Gasoline will Support Market Growth
Ethylene dichloride is implemented in a wide range of applications across various industries including construction, packaging, automotive, and furniture. However, polyvinyl chloride is one of the most common applications of ethylene dichloride, which finds applications in various industries such as power & signal cables, flooring, films & sheet, wires, pipes & fittings, and many other industrial areas. In addition, polyvinyl chloride is the third most consumed and most produced plastics, and growing demand for polyvinyl chloride resins is expected to play an important role in the growth of the ethylene dichloride market.
In addition to this, ethylene dichloride is also an integral ingredient in the manufacturing of gasoline and fuels. With the increasing growth of the oil & gas industry, which is mainly attributed to the growing need for energy worldwide, the demand for ethylene dichloride is expected to rise in the equal proportion. Leading vendors in the oil & gas industry are focusing on expanding the capacities of their oil and gasoline refineries, in a bid to meet the growing demand. This will further contribute to the positive growth of the ethylene dichloride market in the coming years.

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Manufacturers Discover Innovative Production Methods to Reduce Carbon Footprint
The global market for ethylene dichloride is moving towards an environment friendly industry, where leading market players are increasingly focusing on implementing innovative manufacturing processes. In order to reduce harmful emissions from the production of ethylene dichloride, a majority of manufacturers in the ethylene dichloride market are resorting to the oxychlorination process. In the coming years, leading players are expected to invest heavily in research & development in order to introduce innovative manufacturing methods that can dramatically reduce the environmental impact of their production activities.
In November 2019, Nouryon - a global specialty chemicals leader - announced that it has introduced a new, environment friendly process of producing ethylene amine, and the demonstration took place in Nouryon's plant in Stenungsund, Sweden, while the other plant is situated in Ningbo, China. The company's new patented technology reduces carbon footprint by eliminating all the waste, reducing the production cost, significantly limiting the consumption of raw materials, and thereby, enhancing the environmental performance of the entire process.
Growing inclination towards the adoption of oxychlorination over conventional processes such as direct chlorination depicts increasing environmental awareness among ethylene dichloride manufacturers across the world. This way, the trend of introducing innovative manufacturing processes that have a very little or significantly low impact on the environment is likely to gain popularity in the ethylene dichloride market in the coming years.

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Ethylene Dichloride Uptake will Remain Limited during the Novel Coronavirus Pandemic
The global demand for ethylene dichloride was significantly high before the lockdown due to the coronavirus outbreak. However, during the pandemic, the supply was tightened, though the demand remained stable for downstream polyvinyl chloride. Leading manufacturers in the global ethylene dichloride market witnessed unplanned production problems, which has led to a significant drop in spot availability.
Furthermore, the construction activities around the world have slowed down as a result of growing awareness about the coronavirus precautions, and consequently, the demand for ethylene dichloride in such applications have gone down. With the intensifying coronavirus situations, especially in China, domestic ethylene dichloride manufacturing activities have been put a fullstop to.
The market is also commencing to witness a rise in downstream inventories of polyvinyl chloride, and subsequently spot demand for ethylene dichloride across the world, and primarily in China, has tapered off. In the coming years, the global market for ethylene dichloride is expected to grow at a sluggish pace, mainly attributed to the concerns brought about by the coronavirus epidemic.

Ethylene Dichloride Market: Region-wise Analysis
Based on the geographical factors, the ethylene dichloride market is broadly divided into seven regions - North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. With the strong presence of market leaders such as Solvay, Shin-Etsu Chemical, and Axiall Corporation, in the United States, North America is expected to maintain its lead in the global market for ethylene dichloride. Growing consumption of ethylene dichloride in various applications, especially polyvinyl chloride (PVC) is expected to play an important role in the growth of the ethylene dichloride market in the North American region.
On the other hand, with the rapid growth of industrial spaces, especially in the chemical industry, in developing Asian countries, the ethylene dichloride market in East Asia is expected to grow at a significantly high CAGR through 2030. In the coming years, China along with other East Asian countries such as Japan and South Korea, are expected to account for nearly 20% revenue share of the global market for ethylene dichloride. Thereby, North America and Europe, followed by Asia Pacific are expected to create new opportunities for stakeholders in the ethylene dichloride market in the coming decade.

Ethylene Dichloride Market: Competitive Landscape
Key vendors of the ethylene dichloride market include Vynova Group, Occidental Chemical Corporation, Formosa Plastics Corporation, Sigma Plastic, INEOS Group Ltd., The Dow Chemical Company, Westlake Chemical, Tosoh Corporation, Punjab Chemicals & Crop Protection, Olin Corporation, LG Chem, Nova Chemical, Horizon Chemical Industry Co. Ltd, Formosa Plastic Corporation, and SABIC among others.
In June 2020, Saudi Aramco, officially the Saudi Arabian Oil Company, - a Saudi Arabian multinational petroleum and natural gas company based in Dhahran, Saudi Arabia - announced that it has acquired more than 70% of a Saudi multinational chemical manufacturing company - SABIC (Saudi Basic Industries Corporation). The company also declared that the completion of acquisition took place in four transactions and the combined investment of US$ 69.1 billion was made by Saudi Arabia's oil giant.
In June 2019, Saudi Aramco also finalised a deal with a British chemicals company - Ineos, as it made its first investment in the Middle East. Ineos announced that it will invest nearly US$ 2 billion in the development of three petrochemical plants in partnership with Saudi Aramco and Total. The company further announced that it will build a 425,000-ton plant of acrylonitrile in the industrial city of Jubail, where a 202-hectare Sabic and Shell-operated Sadaf ethylene plant is also situated.

Ethylene Dichloride Market: Segment Analysis
The ethylene dichloride market can be segmented on the basis of the following:
Application
? Ethylene Amines
? Vinyl Chloride Monomer
? Trichloroethane
? Polyvinyl Chloride (PVC)
? Vinylidene Chloride
? Others
Production Process
? Direct Chlorination
? Oxychlorination
End-use Industry
? Packaging
? Construction
? Furniture
? Automotive
? Medical
? Others
Region-wise Analysis
? North America (U.S., Canada)
? Latin America (Mexico, Brazil)
? Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
? East Asia (China, Japan, South Korea)
? South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
? Oceania (Australia, New Zealand)
? Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)

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Report Highlights
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.