Global Cryogenic Ethylene Market Is Forecast To Reach A Valuation Of US$ 11.53 Bn By 2032

Posted on 2023-06-29 by Fact.MR in Chemicals // 0 Comments

The cryogenic ethylene market refers to the industry involved in the production, distribution, and utilization of ethylene at cryogenic temperatures. Ethylene is a crucial building block chemical used in various industries, including plastics, chemicals, and manufacturing. Cryogenic ethylene refers to ethylene that is stored and transported at extremely low temperatures, typically below -100 degrees Celsius (-148 degrees Fahrenheit), to maintain its liquid state. One of the key drivers for the growth of the cryogenic ethylene market is the increasing demand for ethylene as a raw material in the production of plastics. Ethylene is a primary feedstock for the manufacturing of polyethylene, which is one of the most widely used plastics globally. The growing demand for polyethylene in various applications such as packaging, automotive, construction, and consumer goods drives the need for cryogenic ethylene storage and transportation infrastructure.

Another significant factor contributing to market growth is the expansion of the petrochemical industry. Ethylene is predominantly produced from hydrocarbon feedstocks, such as natural gas and naphtha, through processes such as steam cracking. As the petrochemical industry expands, driven by factors such as population growth, urbanization, and increasing consumer demand, the demand for cryogenic ethylene is expected to rise. Moreover, the development of liquefied natural gas (LNG) infrastructure provides opportunities for the cryogenic ethylene market. Ethylene is a byproduct of LNG production, and its extraction and purification from LNG require cryogenic processes. With the increasing adoption of LNG as an alternative fuel source, the demand for cryogenic ethylene in LNG facilities is expected to grow.

Furthermore, advancements in cryogenic technology and storage systems contribute to the market growth of cryogenic ethylene. The development of efficient cryogenic tanks, vaporizers, and transportation methods enables the safe and cost-effective handling of ethylene at ultra-low temperatures. These advancements ensure the reliable supply and distribution of cryogenic ethylene to end-users.

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Key findings of the Cryogenic Ethylene market study:

The report provides a present market outlook on Cryogenic Ethylene. Additionally, the Cryogenic Ethylene market share is anticipated to grow with a CAGR of 9.2% in the forecast period.
Regional breakdown of the Cryogenic Ethylene market based on predefined taxonomy.
Innovative manufacturing processes implemented by Cryogenic Ethylene vendors in detail.
Region-wise and country-wise fragmentation of the Cryogenic Ethylene market to grasp the revenue, and growth outlook in these areas.
Changing preferences among consumers across various regions and countries.
Factors (Positive and Negative) impacting the growth of the global Cryogenic Ethylene market.
Cryogenic Ethylene price, market share, and Trends forecast for assessment period 2022-2032

Why is the U.S. Gaining Traction in the Global Cryogenic Ethylene Market?

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 bottom rankings in terms of LNG supply in 2016. Due to the difficulties associated with its transportation, producers first liquefy LNG using C3 cryogenic propylene or cryogenic ethylene before supplying it to carriers. The use of cryogen for liquefaction is a multi-stage procedure that involves circulating large volumes of cryogen for a predetermined amount of time. This gives LNG the ideal temperature for liquefaction.

LNG must be kept at a consistent temperature after liquefaction by being put under a cryogen (ethylene or propylene). Due to the aforementioned considerations, an increase in LNG production and exports would drive up cryogenic ethylene demand in the United States at a CAGR of 9.5% during the long-term projection period.

Competitive landscape analysis

Prominent manufacturers of cryogenic ethylene are forward integrated, but they sell a part of cryogenic ethylene to stabilize the price points of the downstream products across regions.

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