An extensive study of the product application and services conducted by subject matter experts assessing the Ethane Market will help product owners to make a wise decision.
New York, United States – May 18, 2020 /MarketersMedia/ —
The global Ethane Market is expected to reach USD 1.00 Billion by 2027, 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.
Ethane finds application in the synthesis of ethylene, which has a wide range of usage. On a commercial scale, ethylene is used post-harvest to ripen bananas, tomatoes, pears, and a few other fruits. Ethylene is used for the production of polyethylene, which is deployed in making food packaging and non-food packaging products, as well as in manufacturing automotive parts and several other household products.
The growing use of ethane in acetic is boosting the market demand. Acetic acid is used in the production of polyvinyl acetate for wood glue, soft drink bottles, fabrics, and synthetic fibers, as well as a variety of household and other applications that are essential to everyday life. The major trend in the market is the rising capital expenditure for enhancing the production of the acid. The increasing investments by different producers are also aimed at the development of new facilities, strengthening the supply chain of the product, and technological up gradation.
This report covers the recent COVID-19 incidence and its impact on Ethane Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
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Key participants include Merck KGaA, Royal Dutch Shell PLC, Reliance Industries Ltd., Praxair Technology, Air Liquide, The Williams Companies, Energy Transfer Partners Inc., American Ethane, Devon Energy Corporation, and Enbridge among others.
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; 2017-2027 and Revenue, USD Million; 2017-2027)
• Natural Gas Separation
• Refinery by-product
Application Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
• Ethylene Synthesis
• Acetic Acid Synthesis
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
End-User Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
• Automotive & Transportation
• Electrical & Electronics
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Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2017-2027)
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)
Further key findings from the report suggest
• By the production method, natural gas separation contributed to a substantial market share in the year 2019.
• By application, Acetic acid synthesis contributed to the second largest market share in 2019 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 2020-2027, 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 2020-2027.
• The market in the Asia Pacific region contributed to the largest market share in 2019 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.
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