Rockville , Sept. 27, 2023 (GLOBE NEWSWIRE) -- As per the latest market analysis report on cryogenic ethylene by Fact.MR - a market research and competitive intelligence provider, the global Cryogenic Ethylene Market is projected to be valued at US$ 4.78 billion by 2022-end, and further expand at a CAGR of around 9.2% over the forecast period of 2022-2032. High market growth is attributed to surging demand for cryogenic ethylene in polymer production and LNG liquefaction across regions of the world.
Texas is the hotspot for ethylene supply with 95% of the supply in the United States coming from this state alone. Prominent manufacturers such as LyondellBasell, Formosa plastics, Shell, and ExxonMobil, among others, are positioned in this state. This is due to the ease of supply chain and benefits of economies of agglomeration.
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Moreover, economies of scale also supplement the sales growth of cryogenic ethylene in the region due to the rise of petrochemical plants and LNG liquefaction. Furthermore, petrochemical refinery integration will bolster the supply of cryogenic ethylene in the region due to the deficit generated in the market.
| Report Attributes | Details |
| Value Projection (2032) | US$ 11.53 Billion |
| Growth Rate (2022-2032) | 9.2% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 79 Tables |
| No. of Figures | 132 Figures |
Key Takeaways from Market Study
- By application, refrigerants are projected to provide an absolute $ opportunity worth US$ 2.8 billion over the forecast period of 2022-2032.
- Based on grade, demand for chemical grade cryogenic ethylene is projected to increase at CAGR of around 13% over the forecast period.
- Cryogenic ethylene application for polymer production is anticipated to grow 2.5X over the next ten years.
- North America is projected to capture around 44% of the global cryogenic ethylene market share by the end of 2032.
- Europe is set to provide an absolute dollar opportunity worth US$ 592 million by 2032-end.
“Supply contracts with LNG exporters are set to strengthen the sales of cryogenic ethylene over the long-term forecast period,” says aFact.MR analyst.
Key Companies Profiled in This Report
- Dow Chemicals
- Exxon Mobil
- Chevron Philips
- Sasol
- Axiall Lotte
- Shintech
- Shell
- LyondellBasell
- Indorama
- Eastman
Cryogenic Ethylene: Potential Analysis
The refinery-petrochemical integration trend can be observed across regions, which is anticipated to enhance the overall efficiency of upstream, midstream, and downstream oil & gas industry. This integration is also set to provide a supply boost of cryogenic ethylene with the rising deficit of cryogenic ethylene in the market.
Country-specific analyses
Why is the United States gaining ground in the global market for cryogenic ethylene?
Cryogenic ethylene consumption in the US is being driven by rising LNG production and exports.
As of Q4 2021, the United States was the major exporter of LNG at 21 MMT. LNG export dominance is a result of the 2016 shale oil revolution. The nation is currently self-sufficient in LNG and a global leader in LNG supply, having been in the lower ranks in terms of LNG supply in 2016.
Due to the difficulties in transporting LNG, producers must first liquefy it using C3 cryogenic propylene or cryogenic ethylene before loading it onto carriers. The technique of using cryogen for liquefaction involves several stages and the circulation of large volumes of cryogen for a predetermined amount of time. As a result, LNG can liquefy at the ideal temperature.
In order to maintain the LNG's temperature after liquefaction, it must be kept under a cryogen (ethylene or propylene) at all times.
The demand for cryogenic ethylene in the United States will increase at a CAGR of 9.5% during the long-term forecast period due to the aforementioned variables, which will also result in an increase in LNG production and exports.
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Key Segments of Cryogenic Ethylene Industry Survey
- By Grade:
- Polymer Grade
- Chemical Grade
- By Application:
- Agricultural Intermediates
- Construction Chemicals
- Emulsion Adhesives Production
- Refrigerant
- LNG Liquefaction
- Coolant Systems
- Ethylene Glycol
- Polymer Production
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the cryogenic ethylene market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of grade (polymer grade and chemical grade), application (agricultural intermediates, construction chemicals, emulsion adhesives production, refrigerants (LNG liquefaction, coolant systems), ethylene glycol, and polymer production), and across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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