Portland, OR, Nov. 29, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ethane market generated $12.8 billion in 2021, and is projected to reach $18.5 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $12.8 billion |
| Market Size in 2031 | $18.5 billion |
| CAGR | 3.8% |
| No. of Pages in Report | 204 |
| Segments Covered | Application, end-use, region |
| Drivers | Increase in the global population coupled with rapid urbanization |
| Increase in the production rate of ethylene due to its wide range of end uses in various end use industries | |
| Opportunities | Prevalence of government investment & initiatives toward global warming and ozone depletion layer |
| Increasing awareness for eco-friendly and energy saving products among people | |
| Restrains | Presence of specific standards to produce ethane gas |
COVID-19 Scenario:
- The outbreak of COVID-19 had a negative impact on the growth of the global ethane market, owing to an reduced demand from various industries during the pandemic.
- According to a report published by IEA in March 2021, the petrochemical industry accounted for the majority of ethane, LPG, and naphtha. Thus, lockdowns resulted in the closure of various manufacturing facilities, which adversely impacted the growth of the market.
- However, increasing demand from the oil & gas sector has enhanced the performance of ethane market post COVID-19.
- Furthermore, the building & construction, food sectors, and transportation activities are projected to get back on track and start functioning with full capacity post the COVID-19 period, which is expected to drive the ethane market in 2022.
The report offers detailed segmentation of the global ethane market based on application, end-use, region.
Based on application, the ethylene synthesis segment held the dominating market share in 2021, holding nearly half of the global ethane market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 4.0% during the forecast period. The report also analyses other segments such as acetic acid synthesis and refrigerants segment.
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Based on end-use, the plastic segment held the dominating market share in 2021, holding nearly half of the global ethane market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 4.1% during the forecast period. The report also analyses other segments such as food, automotive, and others.
Based on region, the market across Asia-Pacific region held the dominating market share in 2021, holding more than one-thirds of the global ethane market, and is expected to maintain its leadership status during the forecast period. In addition, the same region is expected to cite the fastest CAGR of 4.4% during the forecast period. The report also analyses other regions such as North America, Europe, and LAMEA.
The key players analzyed in the global ethane market report include Praxair Technology, Inc., American Ethane, Shell Plc., L'Air Liquide S.A., Aux Sable, DCP Midstream, LLC., Energy Transfer LP, Merck KGaA, WILLIAMS, Reliance Industries Limited.
The report analyzes these key players in the global ethane market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
