US ethylene industry to grow 34% by 2017 – research firm
12 December 2012 17:31 [Source: ICIS news]
HOUSTON (ICIS)--The ongoing shale gas boom will see the ?xml:namespace>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.By: Stefan Baumgarten+1 713 525 2653
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial
to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free
trial to ICIS Chemical Business.