Global price of ethylene 2017-2023

The average price of ethylene worldwide amounted to some 896 U.S. dollars per metric ton in 2023. The global production capacity of ethylene reached approximately 225.52 million tons in 2022. 

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.