The average price of ethylene worldwide amounted to some 1,000 U.S. dollars per metric ton in 2021. In 2022, the average price for ethylene rose to a value of 1,060 U.S. dollars per ton, an increase of roughly approximately six percent in comparison with the previous year. The global production capacity of ethylene reached approximately 214 million tons in 2021.
Petrochemical products
Ethylene is the most commonly used petrochemical globally. A major part of its production is used to produce polyethylene, a common plastic material that accounts for roughly 30 percent of global thermoplastic production. Other ethylene-derived products include ethylene glycol, ethylene dichloride, and styrene. Apart from ethylene, other widely produced petrochemicals are propylene, methanol, and paraxylene. Together they account for over 80 percent of the global upstream petrochemical capacity.
Petrochemical prices
Petrochemical prices are highly dependent on the price of oil and related products. Feedstock costs represent the largest share of petrochemical production costs, ahead of fixed costs, power, and transportation. As with oil prices, the price of petrochemical products fell sharply during 2020, following the outbreak of the COVID-19 pandemic. That year, petrochemicals such as ethylene, propylene, or benzene registered the lowest price in recent years, although they picked up shortly after. As of 2022, petrochemical prices had risen significantly, reaching the highest values recorded in the last years.
Price of ethylene worldwide from 2017 to 2022
(in U.S. dollars per metric ton)
Characteristic
Price in U.S. dollars per metric ton
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Krungsri Research. (March 10, 2023). Price of ethylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1170573/price-ethylene-forecast-globally/
Krungsri Research. "Price of ethylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton)." Chart. March 10, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1170573/price-ethylene-forecast-globally/
Krungsri Research. (2023). Price of ethylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1170573/price-ethylene-forecast-globally/
Krungsri Research. "Price of Ethylene Worldwide from 2017 to 2022 (in U.S. Dollars per Metric Ton)." Statista, Statista Inc., 10 Mar 2023, https://www.statista.com/statistics/1170573/price-ethylene-forecast-globally/
Krungsri Research, Price of ethylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton) Statista, https://www.statista.com/statistics/1170573/price-ethylene-forecast-globally/ (last visited July 22, 2024)
Price of ethylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton) [Graph], Krungsri Research, March 10, 2023. [Online]. Available: https://www.statista.com/statistics/1170573/price-ethylene-forecast-globally/