ID: MRFR/CnM/5903-HCR | February 2021 | Region: Global | 140 pages
The Ethane Market had a USD of about 608 million in the year 2019 and is also expected to show growth in CAGR by 6.2 %. Ethane has various uses that contribute to this growth in the market. Methane is flammable colorless and odorless gas at standard temperature and pressure. Osho ethane can be isolated from other natural gas fractions such as methane and propane by using different cryogenic distillation techniques.
COVID 19 Analysis:
Due to the growing situation of Covid-19, every business has been impacted drastically. Small, medium, as well as big businesses, have faced challenges that have hampered the growth of the market. But it is believed that in the year 2022 due to the initiation in the process of vaccination things will get back to normal.
The factors that drive the growth of the ethane industry increasing use of ethanol as a biofuel shale gas boom in the parts of the US also there is a growing demand for ethane as a refrigerant going to how environmentally friendly characteristics and have when compared with any typical refrigerant which is made of chlorofluorocarbon or hydrochlorofluorocarbons.
Some of the opportunities that contribute to the growth of the Ethane Market are used in power generation, it has less pricing and higher heat value. In addition, this meeting has less admission content of ethane when completed favorably with LNG.
Some of the restaurants that contribute to the hindrances in the market of ethane include string and environmental regulations in some developed countries. In addition to this fluctuating crude oil prices also serve as a major challenge to the ethane market growth to a good extent.
Value Chain Analysis:
The Global Ethane Market is growing rapidly which adds a large amount of value to the market and Society. These benefits include use in manufacturing polyethylene which is used as a manufacturing food packaging. In addition to this, it is used as non-food packaging, as a refrigerant in cryogenic refrigeration systems.
There are different segmentations made in the Global Research Report of the Ethane Market based on Application, End-Use Industry and Region.
Based on Application:
The Global Research Report of the Ethane Market based on the application is divided into ethylene synthesis acetic acid synthesis refrigerant and others.
Based on End-Use Industry:
Based on the End-User Industry the Global Ethane Market is categorized into packaging automotive and transportation building and construction electricals and electronics healthcare power and others.
Based on Region:
Based on the Region, the Ethane Market has been analyzed into 5 regions namely Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa.
The global market of ethane based on the Region is divided into five regions- Asia-Pacific, Latin America, North America, Europe, and the Middle East and Africa.
According to the research report, Asia-Pacific holds the largest and fastest-growing market for ethane in the year 2018. In addition to this, it is expected to show continuous domination throughout the forecasted period. The reason Asia-Pacific has about 38 % of the total market share of ethane. The reason why the Ethane Market has such enormous growth in Asia-Pacific is due to rapid industrialization because of lucrative investment policies, low production cost, and inexpensive labor which largely supports the growth of teeth in the market in the region. Also, in addition to this growth and users and industries such as packaging automotive and transportation building and construction electricals and electronics healthcare power are contributing highly through demands for ethane.
Another region North America is estimated as the second-largest Market holder in the year 2019. This major drive is due to growing ethylene manufacturing facilities to meet domestic demands. In addition to these domestic demands, export purposes are also made by ethylene manufacturing.
Europe follows up North America in terms of ethane market size in the year 2018. There are developed automotive and transportation industries that ensure a stable revenue source for ethylene and its various derivatives. The electricals and electronics industry also support the Ethane Market.
Latin America shows slow economic development. Moreover, the reason is expected to show some increase in growth during the forecasted period due to rising industrialization in many countries such as Brazil, Mexico, and Venezuela.
Last but not least, the Middle East and Africa are also expected to exhibit some rising demand for ethane. Some of the factors that drive its growth are end-use industries such as building and construction which are most likely to provide some stable platform for revenue source during the forecast period.
The most major and important key players in the ethane market in the global market are as follows-
The major component key players in the Ethane Market in the Global market use various strategies to cater to the increase in product manufacturing and the need of customers. These prominent players also use various strategies such as collaborations, mergers, acquisitions, establishing a joint venture developing the new production process, innovations in the existing product expansion of business and partnership, etc. All the strategies and policies are taken up to enhance the customer base and get a better yield in the future. These prominent players add great value to the market.
Given below are some recent developments in the global market of ethane.
Given below is the Intended Audience of the Global Ethane Market-
The Global Ethane Industry in the Global research report consists of the following elements which are as follows:
|Market Size||2027: Significant value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application, End-Use Industry, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Royal Dutch Shell PLC (the Netherlands), Merck KGaA (Germany), Air Liquide (France), Praxair Technology Inc. (US), Reliance Industries Limited (India), The Williams Companies Inc. (US), DCP Midstream LLC (US), Energy Transfer Partners LP (US), American Ethane (US), Enterprise Products Partners LP (US), Devon Energy Corporation (US), Targa Resources Corp. (US), Aux Sable (US), Boardwalk Louisiana Midstream, LLC (US), and Enbridge Inc. (Canada)|
|Key Market Opportunities||power generation, where the pricing, higher heat value, and far less emission content of ethane competes favorably with LNG.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The ethane market is projected to acquire a 6.14% CAGR between the forecast period of 2016 to 2023.
The Asia Pacific has the largest ethane market.
The Asia Pacific is the fastest-growing ethane market.
Dwindling crude oil prices and strict rules regarding the environment can hold back the expected growth rate of the ethane market.
Players like Merck KGaA (Germany), Royal Dutch Shell PLC (the Netherlands), Reliance Industries Limited (India), Air Liquide (France), Praxair Technology Inc. (US), Energy Transfer Partners LP (US), The Williams Companies Inc. (US), DCP Midstream LLC (US), Enterprise Products Partners LP (US), American Ethane (US), Aux Sable (US), Boardwalk Louisiana Midstream, LLC (US), Targa Resources Corp. (US), Devon Energy Corporation (US), and Enbridge Inc. (Canada) have carved a niche for themselves in the ethane market.