Olefins are also called as Alkene, a compound mixture of carbon and hydrogen which contains one or more pairs of carbon atoms concatenated by a double bond. Ethylene and propylene are the two compounds formed from oligomerization.
According to IndustryARC, the Global U.S. Olefins Market is estimated to grow at a CAGR of 4.3% during the forecast period of 2015-2020.
The Olefins Market is classified into 2 types: Ethylene Market and Propylene Market. Ethylene market has been broadly divided in to two types: by product and by feedstock whereas propylene market is divided in to: by product and by process. Ethane is one of the most important feedstock in the U.S. accounting for approximately 70% of the ethylene market. In U.S. majority of the ethylene is produced from ethane followed by propane and naphtha. Ethylene market in the U.S. is expected to grow at a CAGR of 4.3% from 2015 to 2020.
Polyethylene segment holds a majority of the market in ethylene product market share. The overall ethylene market is being driven by the increasing usage and applications of polyethylene products like polyester fibres, antifreeze, packaging, construction and consumer products.
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Market Driving Factors:
The top most contributing driving factors of the U.S. Olefins Market, as surveyed by IndustryARC’s research analysts are:
• The increasing use of plastics for packaging applications is a major driver of the U.S. Olefins Market. Growing automotive industry has also been proven supportive to the growth of the market, globally.
• Driven by the rapid economic growth of the nations in the region, the U.S. Market for Olefins is set to be further boosted by end-use industries such as packaging, building & construction, consumer goods, automotive, and textiles.
Geographical Study of the Market:
• The US olefins market will...