PUBLISHER: Allied Market Research | PRODUCT CODE: 1193275
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193275
The global ethane market was valued at $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.
Ethane is an organic hydro compound and exhibits as a colorless, odorless gas at standard temperature. Vapor form of ethane is heavier than air due to which it can easily ignite. Ethane is mainly produced from natural gas wells and by the reduction of ethyl iodide using zinc and copper coupled with alcohol. Ethane gas finds a wide range of end-users in various end-use industries such as petrochemical, plastic industry, anti-freeze detergents, automotive, and among others.
A major key element for the growth of the ethane market is rise in the production rate of ethylene owing to its wide range of uses in various end use industries. For instance, according to an article published by the University of South Carolina in September 2021, ethylene is an essential building block component for the manufacturing of resins and plastics. This may propel the growth of the ethane market. Ethane is mainly used to produce ethylene, which in turn is used by the petrochemical industry for the manufacturing of various intermediate products, such as plastics, natural gas, power generation , and others.
Primary element for restraining the ethane market is the implementation of legislation on ethane production from both developed and developing economies. Ethane is combustible, hazardous, and flammable gas. Habitual exposure and inhalation of ethane gas may have an adverse effect on human health and it may cause, nausea, headache, respiratory disorders, chronic disorders, and others. This factor is expected to restrain the growth of the ethane market during the forecast period.
On the contrary, emergence of the packaging industry has created lucrative opportunities for the ethane market. Ethane is extensively used to make various types of polyethylene. These factors make ethane highly preferred for plastic processing industry. Furthermore, the consumption of ethane has increased in the U.S. owing to its increase in supply and low prices of raw materials. These factors are expected to act as one of the key drivers responsible for the growth of the ethane market.
The global ethane market profiles leading players that include, Royal Dutch Shell Plc, L'Air Liquide S.A., American Ethane, Aux Sable, DCP Midstream, LLC., Energy Transfer LP, Merck KGaA, Praxair Technology, Inc., Reliance Industries Limited., and WILLIAMS. The global ethane market report provides in-depth competitive analysis as well as profiles of these major players.
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