Ethane Market Will Hit USD 685.4 Million in 2028 : Huge Demand from Packaging Sector - Reports and Data

Ethane Market : Rising disposable income and increaasing global population are major factors expected to drive market revenue growth

NEW YORK CITY, NEW YORK, UNITED STATES, September 26, 2022 /EINPresswire.com/ -- 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. 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 investigation of lipid peroxidation. Ethane is also deployed in production of acetaldehyde and ethanol, which are widely used in paints, varnishes, plastics, and adhesives, among others.

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Leading Players– 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.

Some Key Highlights from the Report

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 development of Air Separation Unit in Bay City, Texas, and related infrastructure investments.
Acetic acid synthesis segment accounted for 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.
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 problem in cryogenic LNG systems. Usage of ethane to replace natural gas in vehicles could lower barriers to clean alternative fuel and increase adoption of gas vehicles in the U.S.
Offline segment accounted for a larger revenue share in 2020. Offline channel is the most preferred channel for distribution as it includes the opportunity for customers to create personal connections with business, which is beneficial in building loyalty.
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 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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Key Regional Markets Covered in the Report:

North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Production Method Outlook (Revenue, USD Million; Volume, Kilo Tons; 2018–2028)

Natural Gas Separation
Refinery By-product

Application Outlook (Revenue, USD Million; Volume, Kilo Tons; 2018–2028)

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

End-use Outlook (Revenue, USD Million; Volume, Kilo Tons; 2018–2028)

Packaging
Automotive and Transportation
Construction
Electrical and Electronics
Others

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Frequently Asked Questions Addressed in the Report:

What is the estimated market revenue growth over the forecast period?
What are the major factors driving the global Ethane Market revenue growth?
Which regional market is expected to account for the largest revenue share in the global Ethane Market over the forecast years?
Which are the leading players in the global Ethane Market?
What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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