The global ethane market is expected to reach USD 1,059.3 Million by 2028, according to a new report by Reports and Data. The growth of the market is attributed to the growing demand for ethane amongst end-use application.
The rise in materials and chemicals companies’ deployment of digital technologies to enhance efficiency gains and increase reliability are the key factors stimulating materials and chemicals industry trends. The industry players are allocating huge budgets for advanced sensing and automation machines to enhanced optimization of operations.
Materials and chemicals are used across various end-use industries such as manufacturing, medical & pharmaceutical, automotive, food tech, among others. New product launches, technological advancements, growing consumer demand variety in daily use items, and increasing automation in the industry will accrue to major revenue gains in the coming years. Also, increasing consumer awareness regarding energy-efficiency and associated demand for sustainable products will boost market growth during the forecast period.
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Further key findings from the report suggest
- By the production method, natural gas separation contributed to a substantial market share in the year 2020.
- By application, Acetic acid synthesis contributed to the second largest market share in 2020 and is expected to grow at a rate of 5.6% in the forecast period. Acetic acid is used to produce Vinyl Acetate Monomers (VAM), which is, in turn, is used to manufacture various resins and polymers for adhesives, films, paints, coatings, textiles, and other end-user products.
- By distribution channel, the online distribution channel is projected to grow at a faster rate of 8.0% in the period 2020-2028, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
- By end-user, the packaging industry dominated the market in 2018 and is likely to grow at a significant rate in the period 2020-2028.
- The market in the Asia Pacific region contributed to the largest market share in 2020 and is estimated to have a growth rate of 6.6% in the forecast period. The market dominance of the APAC region is owing to the growth of the end-user industries, as well as rapid industrialization and urbanization in the region.
- Key participants include Merck KGaA, Royal Dutch Shell PLC, Reliance Industries Ltd., Praxair Technology Inc., Air Liquide, The Williams Companies Inc., Energy Transfer Partners Inc., American Ethane, Devon Energy Corporation, and Enbridge Inc., among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/ethane-market
For the purpose of this report, Reports and Data have segmented the global ethane market on the basis of production method, application, distribution channel, end-user, and region:
Production Method Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Natural Gas Separation
- Refinery by-product
Application Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Ethylene Synthesis
- Acetic Acid Synthesis
Distribution Channel Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
End-User Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- Automotive & Transportation
- Electrical & Electronics
Regional Outlook (Volume, Kilo Tons; 2020-2028 and Revenue, USD Million; 2020-2028)
- North America
- Asia Pacific
- Latin America
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Frequently asked questions addressed in the report:
- What is the projected growth rate of the global Ethane market over the forecast period?
- What are the latest trending factors influencing market growth?
- What are the major factors driving the growth of the Global Ethane Market?
- What are the risks and challenges existing in the industry?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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