New York, NY -- (SBWIRE) -- 12/21/2020 -- Reports and Data has predicted the Ethane Market to grow at a rate of 5.8%, from 2020 and reach USD 1.00 Billion by 2027. Ethane has significant applications in packaging, automotive, construction, healthcare, and electrical industries, among others. The market growth is largely dependent on the demand for the end-use industry goods.

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

COVID-19 Impact on the Ethane Business Landscape

The latest research report draws readers' focus on the grave impact of the COVID-19 pandemic on the global Ethane market and its key segments and sub-segments. The coronavirus outbreak has had an unprecedented impact on the global economic landscape. The report considers the COVID-19 pandemic as one of the leading contributors to the potential downturn of this business vertical. The global Ethane market has been adversely impacted by the pandemic, which has brought about several disruptive changes to the market dynamics and demand trends. Therefore, the pandemic has led to acute financial crises all across the industry, slowing down the progress of the businesses involved in this sector. However, the report offers an analysis of the overall impact of the pandemic on the Ethane market's growth.

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Global Ethane Market Segmentation:

The latest report enumerates the leading products manufactured in this industry, their application areas, as well as end-use industries.

Market Drivers

The major driving force for the growth of the ethanol market is the use of it as a refrigerant. The use of ethanol as a refrigerant is the most significant factor for the growth of the market during the forecast period. The market growth is mainly attributed to the demand for the end-use industry goods. The growing use of ethanol in the manufacture of acetic acid gives a significant boost to the market demand. Ethanol is used in the manufacture of paints and adhesives, which is estimated to boost the market growth during the forecast period. The use of ethanol in the production of several essential household products renders to the constant growth of the industry.

Regional Outlook

The Asia Pacific region has dominated the market in the year 2019. The Asia Pacific market is forecast to have greater dominance in the global market, owing to the increase in the number of end-use industries in this region. The increased industrialization and urbanization in this region has been one of the most important factors for the growth of the regional market. The market in North America is also expected to grow at a higher rate during the forecast period.

Leading companies profiled in the report:

Merck KGaA, Royal Dutch Shell PLC, Reliance Industries Ltd., Praxair Technology Inc., Air Liquide, The Williams Companies Inc., Energy Transfer Partners Inc., American Ethane, Devon Energy Corporation, and Enbridge Inc., among others

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

· Refrigerant

· Others

Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)

· Online

· Offline

End-User Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)

· Packaging

· Automotive & Transportation

· Construction

· Electrical & Electronics

· Healthcare

· Others

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Key Highlights of the Report:

· The market report comprises a broad segmentation of the global Ethane market on the basis of product type, application gamut, end-use landscape, regional landscape, and competitive scenario.

· The report lists the key business expansion strategies undertaken by the leading market competitors, such as mergers & acquisitions, collaborations, R&D investments, and product innovations, technological upgradation, etc.

· The report exhaustively assesses the present market situation, downstream buyers, and upstream feedstock.

· Additionally, the report gauges the significant impact of modern technologies, such as artificial intelligence and big data analytics, and social media platforms, on the Ethane market development in the near future.

Advantage of Buying this Report:

The report is furnished with an in-depth analysis of various segments of the market to offer the readers to formulate strategic growth plans and gain a robust footing in the market. Key strategies of the industry are covered in the report. The report is furnished with a thorough evaluation of the impact of these sustainable strategies on the Ethane industry and offers a competitive edge to the established companies, manufacturers, and key vendors of the Ethane market as well as to the new entrants gaining traction in the industry.

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