Ethane Market | Growth, Trends, Covid-19 Impact, And Forecasts (2027)
Overview:
The global ethane market has been segmented by application, end-use industry, and region.
Based on application, the global Ethane Market has been segmented into ethylene synthesis, acetic acid synthesis, refrigerant, and others. Among them, the ethylene synthesis segment held the largest market share in 2018 due to the widespread use of ethylene across various end-use industries. The segment is also projected to grow at a fastest CAGR during the forecast period.
Based on end-use industry, the global ethane market has been segmented into packaging, automotive & transportation, building & construction, electricals & electronics, healthcare, power, and others. The packaging segment is dominating the global ethane market based on end-use industry in 2018 due to the large-scale consumption of polyethylene, PVC, polyester, and polystyrene manufactured from ethane in the packaging industry. Apart from this, power industry segment is expected to grow at an encouraging CAGR during the forecast period due to the favorable performance characteristics of ethane over LNG.
Regional Analysis
The global Ethane market has been studied with respect to five regions, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific held the largest market share in 2018 and is expected to grow at a fastest CAGR during the forecast period. North America accounted for the second largest market share in 2018, which is further trailed by Europe. The Middle East & Africa market and Latin America markets are expected to show increasing growth during the forecast period.
Competitive Analysis
Some of the key players operating in the global ethane market 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), 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).
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