Rising disposable income and increasing global population are major factors expected to drive market revenue growth

NEW YORK CITY, NY, UNITED STATES, February 1, 2022 /EINPresswire.com/ -- The latest industry analysis report published by Reports and Data provides vital data and information relating to the global Ethane industry and precisely evaluates the forecast market size and revenue 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 by Reports and Data. The rapid expansion of various end-use industries and rising demand for packaged goods due to changing lifestyles are factors driving market revenue growth.

Ethane is a by-product produced from refinery off-gas or from natural gas processing, with high demand as feedstock at steam crackers for ethylene production. It is used as a calibration gas mixture for laboratory instruments and inspection, and as the most volatile marker for the investigation of lipid peroxidation. Ethane is also deployed in the production of acetaldehyde and ethanol, which are widely used in paints, varnishes, plastics, and adhesives, among others.

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Market Dynamics:
The global materials & chemicals industry involves the production, distribution, sales, and consumption of industrial chemicals, specialty chemicals, commodity (bulk) chemicals, and raw materials such as natural gas, oil, paper & pulp, and metals & minerals. Growth of the global materials & chemicals industry is mainly attributed to fast-paced industrialization and extensive usage of bulk petrochemicals, electronic chemicals, polymers, inorganic chemicals, fertilizers, adhesives, sealants, coatings, and various other products in different industries including oil & gas, pharmaceutical, food & beverage, cosmetics & personal care, textile, manufacturing, petrochemical, and water, and wastewater treatment industries. Technological innovations in the electronics and semiconductor industries, rising demand for nanomaterials, and increasing preferences for environmentally sustainable chemicals and materials are other major factors contributing to the global materials & chemicals industry growth.

Ethane is used to produce ethylene, which is then used to produce a range of products, including plastics. Consumption of ethane in the U.S. is increasing in the recent past due to rising product supply at low cost as compared to other petrochemical feedstock such as naphtha and propane. It can also be used as a fuel for power generation either on its own or blended with natural gas. Rising demand for High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), and other copolymers of ethylene from various end-use industries such as construction and packaging are boosting demand for ethylene, which in turn is driving 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 the overall market revenue
Forecast revenue share of each regional market
Vital information and data related to the production and consumption rates in all the regions
Factors driving the regional market growth over the forecast period
Leading products and application segments in each regional market
Presence of key market competitors in each of these regions

Some Key Highlights From the Report

The acetic acid synthesis segment accounted for a significant revenue share 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, is used to manufacture various resins and polymers for adhesives, films, paints, coatings, textiles, and other end-use products.

The chemical and physical properties of ethane make it ideal for transportation fuel. It carries slightly more energy than liquefied natural gas (LNG) but is free from evaporation loss problems in cryogenic LNG systems. Usage of ethane to replace natural gas in vehicles could lower barriers to clean alternative fuel and increase the adoption of gas vehicles in the U.S.

The offline segment accounted for a larger revenue share in 2020. The offline channel is the most preferred channel for distribution as it includes the opportunity for customers to create personal connections with businesses, which is beneficial in building loyalty.

In July 2019, Air Liquide, a leading market player, entered into a long-term agreement with Gulf Coast Growth Ventures (GCGV), to provide oxygen and nitrogen from its industrial gas pipeline network to GCGV’s intended ethane cracker facility situated in Texas, the U.S. To support additional volume, Air Liquide plans to invest USD 140 million for the development of the Air Separation Unit in Bay City, Texas, and related infrastructure investments.

The rise in demand for ethane in the U.S. is expected to grow significantly due to rising shale oil production, high sale of automobiles, an increase in construction activity, and a growing flexible packaging industry. Advancements in technology, increasing demand for plastics and basic chemicals, and growing efforts by market players in the region to increase ethylene production capacity will propel ethane market revenue growth in the region.

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For the purpose of this report, Reports and Data has segmented the global ethane market based on the production method, application, end-use, distribution channel, and region:

Production Method Outlook
Natural Gas Separation
Refinery By-product

Application Outlook
Ethylene Synthesis
Acetic Acid Synthesis
Refrigerant
Others (Fuel for automotive, detergent, scientific research)

End-use Outlook
Packaging
Automotive and Transportation
Construction
Electrical and Electronics
Others

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Regional Outlook
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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About Reports and Data
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