Asia-Pacific was the largest region in the olefins market in 2017, accounting for 39.3% share in the market. This was due to growth in olefin cracking plants in China, India and Southeast Asian nations.North America was the second largest region in the olefins market in 2017, accounting for 20.7% share in the market. This can be attributed to a presence of large number of steam cracking plants in the region. Continuous efforts to improve plant efficiency resulted in higher output than before, was also a contributing factor. Also, with the advent of shale gas extraction in large quantities, thus making the feedstock for cracking plants cheaper. Middle East was the smallest region in the olefins market in 2017, accounting for 4.0% share in the market.
Rising Adoption Of RDR (Roto Dynamic Reactor) Technology
Companies have started using Roto Dynamic Reactor Technology due to its energy efficiency. This is an innovative olefin cracking technology invented in 2017 and improves the olefin production with lesser energy consumption. This hydrocarbon cracking method based technology, saves non-renewable resources and reduces impurity generation from ethylene cracking. This technology is developed and patented by Coolbrook Oy in collaboration with Neste Jacobs, University of Cambridge’s Whittle laboratory, University of Oxford’s Osney Thermo Fluids laboratory, MANTurbo and Dow Chemicals.
Olefins are some of the most important building blocks or raw materials for several key chemical products and intermediates. Olefins are mainly produced by cracking of crude oil, naphtha or natural gas. Olefins are used to manufacture several key plastics, polymers and resins such as Polyethylene, Polypropylene. Examples of olefins include, ethylene, propylene and butadiene.
Companies Covered: Saudi Industries Corporation (SABIC), DowDuPont Inc., ExxonMobil Chemical Company, Royal Dutch Shell plc., China Petroleum & Chemical Corporation (Sinopec)
Market Segments Included: Ethylene, Propylene, Butylene, Butadiene
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