As per the latest market analysis report on cryogenic ethylene by Fact.MR – a market research and competitive intelligence provider, the global 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.
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.
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.
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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.
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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Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemicals and materials team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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