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Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand f.....
Ethane Market size was valued at US$ 850.3 million in 2023 and is anticipated to grow at a CAGR of 7.2% over 2024-2030. Ethane is a simple, colorless, odorless, and gaseous hydrocarbon that belongs to the alkane family of organic compounds. Ethane is commonly isolated from natural gas or petrochemicals and chiefly used as feedstock for ethylene production. The ethane market's revenue growth is significantly driven by the rising growth of the petrochemical industry. Ethane serves as a vital feedstock in the production of ethylene, a fundamental building block for a wide range of petrochemical products, including plastics, synthetic rubber, and various chemicals. As the global demand for these petrochemical products continues to surge, driven by various industries such as packaging, automotive, construction, and consumer goods, the need for ethane as a feedstock escalates proportionally. This heightened demand results in increased revenue for ethane suppliers and producers, making it an integral part of the petrochemical supply chain.
Moreover, global industrialization plays a significant role in driving the ethane market. As countries and regions worldwide undergo rapid industrialization and urbanization, there is a substantial increase in the demand for various products derived from petrochemicals, where ethane serves as a key feedstock. Industries such as manufacturing, construction, automotive, and consumer goods heavily rely on plastics, synthetic rubber, and chemicals produced using ethane-derived ethylene. This heightened demand for ethane is especially pronounced in emerging economies where industrial growth is robust. However, stringent government regulations relating to the manufacture and use of ethane are hampering the market growth. Meanwhile, the augmented demand for gas from end-use industries will create new opportunities for the leading manufacturers functioning in the market. Key manufacturers are announcing innovative launches, acquisitions, and strategic collaborations to cater to the rising demand from various end-use industries. For instance, in July 2022, Bayport Polymers LLC, a 50/50 joint venture (JV) between TotalEnergies and Borealis, launched the start-up of commercial operations of a new ethane cracker with an annual production capacity of one million tons of ethylene.
In September 2021, PetroChina launched $1.2 bln ethane-to-ethylene project in China's far western region of Xinjiang.
In February 2022, Ineos launched the Pacific Ineos Belstaff, its largest ethane carrier that can carry 99,000 m3 of the petrochemical feedstock.
Study Period
2024-2030Base Year
2023CAGR
6.8%Largest Market
Asia PacificFastest Growing Market
North America
Ethane is predominantly used for ethylene synthesis, acetic acid synthesis, refrigerant, and others. Ethylene synthesis segment is the leader in the global ethane market. The growth in this segment is due to the extensive usage of ethylene through a number of end-use industries. The segment is also expected to grow at a debauched CAGR in the near future. It is predominantly used in the making of ethanol (industrial Alcohol), which is used as an organic solvent or else in the production of numerous chemical intermediates. Ethane derivative vinyl acetate monomer finds a majority of application in barrier resins, paints, adhesives, and paper coatings. Moreover, it supports the maturing of climacteric fruits and dehiscence of dry fruits. Ethylene is used to encourage synthetic ripening of various fruits like apple, mango, banana, etc.
APAC is considered to be front runner and is estimated to register a noteworthy CAGR of XX%. APAC is expected to lead the global market in the coming years. Rising use of plastics coupled with the growth of the retail and e-commerce industry, besides ongoing construction activities in several countries of APAC are some of the chief dynamics responsible for the growth of market in this region. The market in North America region is developing at a significant pace owing to the rising consumption of ethylene product in various end users such as packaging, automotive, construction, and others. It is foreseen that rising funds from the end-use industries is expected to drive the market in the near future.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 850.3 million |
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Market CAGR |
6.8% |
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By Application Type |
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By End User Type |
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By Region |
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The global ethane market size was valued at US$ 850.3 million in 2023 and is projected to grow at a CAGR of 7.2% from 2024 to 2030.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
The ethane market key players are 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)
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.