U.S. Olefins Market - Forecast(2021 - 2026)
The U.S Olefins Market is segmented by type, feedstock, product and end user. The market consists of ethylene and propylene products. Among these, ethylene market is anticipated to rise at a CAGR of 4.3% between 2018 and 2023. Among the different feedstock used for the production of olefins, ethane accounted for 21.55 MMTPA in 2017 and is expected to rise at a CAGR of 5.6% during 2018-2023. The use of ethane reduces the production cost significantly and thus the demand is increasing rapidly. The demand for olefins will continue rising during the forecast period as it is widely used in construction, polyester fibers, and packaging of consumer products. What are Olefins? Olefins are also known as alkenes which are made up of hydrogen and carbon that contains one or more pairs of carbon atoms linked by a double bond. Ethylene occurs naturally in the environment and is produced by plants of all types. Olefins are class of compounds which include ethylene, propylene and butadiene. The prod...