Released on 12/12/12
The ongoing shale gas boom will see the US ethylene industry growing by more than a third by 2017, a research firm said on Wednesday.
US ethylene capacity is expected to rise from an estimated 26.1m tonnes/year in 2012 to 35.0m tonnes/year in 2017, reflecting a 34% increase, GlobalData predicts in a report.
Only five years ago, the US was one of the most expensive places to produce ethylene, the research firm said.
However, with shale gas the ethane-based US petrochemicals industry is now in a better position than the naphtha-based petrochemicals industries of Europe and Asia-Pacific, and second only to the Middle East in terms of production economy, the firm said.
“Investors have been keen to be a part of an ethylene industry on the rise, and many of the US’ major ethylene producers are investigating the possibility of bringing online new plants,” it added.
Source ICIS News
The ongoing shale gas boom will see the US ethylene industry growing by more than a third by 2017, a research firm said on Wednesday.
US ethylene capacity is expected to rise from an estimated 26.1m tonnes/year in 2012 to 35.0m tonnes/year in 2017, reflecting a 34% increase, GlobalData predicts in a report.
Only five years ago, the US was one of the most expensive places to produce ethylene, the research firm said.
However, with shale gas the ethane-based US petrochemicals industry is now in a better position than the naphtha-based petrochemicals industries of Europe and Asia-Pacific, and second only to the Middle East in terms of production economy, the firm said.
“Investors have been keen to be a part of an ethylene industry on the rise, and many of the US’ major ethylene producers are investigating the possibility of bringing online new plants,” it added.
Source ICIS News