Ethane Market Size, Scope 2022-2028

Muthyala07 Feb, 2023Business

The global ethane market size was valued at USD 631 Mn billion in 2021 and is poised to grow at a significant CAGR of 6.8% during the forecast period 2022-28. The lightest olefinic hydrocarbon as well as organic hydrocarbon is ethylene, which is generated from a variety of hydrocarbons and is widely utilised in the production of polymers such as fibres, polymer plastics, and other organic compounds. The most common feedstocks utilised to make ethylene are naphtha and ethane. Butane, propylene, coal, methanol to olefins (MTO), and gas oil are among the other feedstocks used to make ethylene. The COVID-19 epidemic wreaked havoc on the chemical and materials industries. Chemical demand was severely impacted across many end-use markets as global supply chains were affected, and the competitiveness order of manufacturers/producers shifted dramatically.