Rising disposable income and rising global population are the major factors expected to drive the market revenue growth
NEW YORK CITY, NY, USA, Feb. 1, 2022 /EINPresswire.com/ — The latest industry analysis report released by Reports and Data provides vital data and insights relating to the global e-commerce industry. ethane and accurately estimates the size and forecasted revenue of the market Growth rate. The global ethane market size is expected to reach USD 685.4 million in 2028 and register a revenue CAGR of 3.1% over the forecast period, according to the latest report from Reports and Data. Rapid expansion of various end-use industries and growing demand for packaged goods due to changing lifestyles are factors that are driving the market revenue growth.
Ethane is a by-product produced from off-gas from refinery or natural gas processing, with high demand as a feedstock in steam crackers for the production of ethylene. It is used as a calibration gas mixture for laboratory instruments and inspection, and as the most volatile marker for the study of lipid peroxidation. Ethane is also used in the production of acetaldehyde and ethanol, which are widely used in paints, varnishes, plastics, and adhesives, among others.
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The global materials and chemicals industry includes the production, distribution, sale and consumption of industrial chemicals, specialty chemicals, basic (bulk) chemicals and raw materials such as natural gas , petroleum, paper and pulp, as well as metals and minerals. The growth of the global materials and chemicals industry is mainly attributed to the rapid industrialization and extensive use of bulk petrochemicals, electronic chemicals, polymers, inorganic chemicals, fertilizers, of adhesives, sealants, coatings and various other products in different industries including oil and gas. , pharmaceutical, food, cosmetics and personal care, textile, manufacturing, petrochemical and water and wastewater treatment. Technological innovations in the electronics and semiconductor industries, growing demand for nanomaterials, and increasing preferences for environmentally friendly chemicals and materials are other major factors contributing to the global growth of the materials and chemicals industry.
Ethane is used to produce ethylene, which is then used to produce a range of products, including plastics. Ethane consumption in the United States has increased in recent years due to increased supply of low-cost products compared to other petrochemical feedstocks such as naphtha and propane. It can also be used as a fuel for the production of electricity, either alone or in a mixture with natural gas. Growing demand for high density polyethylene (HDPE), low density polyethylene (LDPE) and other ethylene copolymers from various end-use industries such as construction and packaging is driving the demand for ethylene, which in turn drives the revenue growth of the global ethane market.
Companies profiled in the global market report include Royal Dutch Shell Plc, Praxair Technology Inc., Air Liquide, Williams, Energy Transfer, American Ethane Company, LLC, Enbridge Inc., Devon Energy Corporation, Saudi Aramco, and Santos Limited.
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Key points illustrated in the regional analysis:
Regional Contribution to Overall Market Revenue
Revenue share forecast for each regional market
Vital information and data relating to production and consumption rates in all regions
Factors driving the growth of the regional market over the forecast period
Leading products and application segments in each regional market
Presence of key market competitors in each of these regions
Some highlights of the report
The acetic acid synthesis segment accounted for a major share of revenue in 2020 and is expected to grow at a steady rate during the forecast period. Acetic acid is used to produce vinyl acetate monomers (VAM), which, in turn, are used to make various resins and polymers for adhesives, films, paints, coatings, textiles and d other end-use products.
The chemical and physical properties of ethane make it an ideal transportation fuel. It carries slightly more energy than liquefied natural gas (LNG) but is free from evaporative loss problems in cryogenic LNG systems. Using ethane to replace natural gas in vehicles could reduce barriers to using clean alternative fuels and increase adoption of gasoline-powered vehicles in the United States
The offline segment accounted for a larger revenue share in 2020. The offline channel is the most preferred distribution channel as it provides customers with the opportunity to create personal connections with businesses, which is beneficial for building loyalty.
In July 2019, Air Liquide, a leading player in the market, entered into a long-term agreement with Gulf Coast Growth Ventures (GCGV) to supply oxygen and nitrogen from its network of industrial gas pipelines at GCGV’s planned ethane cracker facility located in Texas, the United States To support additional volume, Air Liquide plans to invest $140 million for the development of the air separation unit at Bay City, Texas, and associated infrastructure investments.
Growth in ethane demand in the United States is expected to rise significantly due to increased shale oil production, strong auto sales, increased construction and a growing flexible packaging industry. Technological advancements, rising demand for plastics and basic chemicals, and growing efforts by market players in the region to increase ethylene production capacity will propel the growth of ethane market revenue in the region.
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For the purposes of this report, Reports and Data has segmented the global ethane market based on production method, application, end-use, distribution channel, and region:
Prospects of the production method
Separation of natural gas
Synthesis of acetic acid
Others (Car fuel, detergent, scientific research)
Automotive and transportation
Electrical and Electronic
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Middle East and Africa
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