Analysis of the US Ethylene Market
The US Ethylene Market is expected to reach 40.60 MMTA at a CAGR of 4.3% by 2023. The cost of production of ethylene from ethane is very low. The production of ethylene is increasing as inexpensive gas, natural gas, liquids feedstock from shale gas is attracting companies to build their plants in the US. By 2020, 70% of the demand for ethylene is expected to be met from ethane. The increasing demand for polyethylene and ethylene glycol can be attributed to the demand from the industries such as anti-freeze, polyester fibres, packaging, construction, and consumer products.
Selected Analysis done in the full Report:
The US propylene Market will reach 20.95 MMTA at a CAGR of 4.5% by 2023. Propylene is an important feedstock for polypropylene, acrylonitrile, propylene oxide and other derivatives. The demand for propylene was high previously due to its versatility and rational pricing. It is expected to grow more as polypropylene is used in packaging, automotive components, stationary, furniture, reusable containers, etc. Propylene is now needed for on purpose production such as propane dehydrogenation.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
1. The demand for polyethylene and ethylene glycol is expected to rise during the forecast period as the demand for end-user applications such as polyester fibre, antifreeze, packaging, and construction and consumer products is increasing.
2. Demand for propylene was high for the past decade due to its versatility and rational pricing. It is expected to increase further during the forecast period as polypropylene has immense demand because of its widely used applications in packaging, automotive components, stationary, furniture, reusable containers, disposable cutlery, toys, textiles, domestic appliance, banknotes, plastic, paper and material, electronics, thermoplastic fibre, reinforced composites and various others.
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Key players of the US Olefins Market:
Exxon Mobil, Chevron, and Shell are the key players in the US Olefins Market. Exxon Mobil is a multinational oil and gas corporation in America. It has maximized the sale of downstream and chemicals segment. Chevron manufactures products such as fuels, lubricants, additives, and petrochemicals. Shell is a British Dutch company which is involved in exploration, production, refining, marketing, distribution, etc. It is also involved in biofuels, wind, and hydrogen.
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