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Market Study: Ethylene Value Chain USA (UC-7805)

   Pages: 240 Company Profiles: 48
   Graphs: 102 Tables: 29
   Prices: from 2,500 Publication: March 2014

 

  

 

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Introduction
Table of Contents

List of Graphs
List of Tables


Introduction

With its market study "Ethylene Value Chain USA", Ceresana is setting new standards. This is the world's first study providing complete transparency regarding current and future development of the entire ethylene value chain. The entire US market is analyzed. Starting with an analysis of the feedstocks used, mainly ethane, propane, butane, and naphtha, the entire ethylene value chain is examined. Attention is also given to various downstream products at various points of the value chain until final end applications.

Ethylene - The Most Important Petrochemical
The importance of ethylene as major feedstock in the petrochemical industry is corroborated by the immense demand volume. In 2013, the USA single-handedly consumed about 25 million tonnes of ethylene. Thus, ethylene is the by far most important petrochemical feedstock. The value added in downstream sectors is considerable. Besides the three polyethylene varieties HDPE, LLDPE, and LDPE, direct applications of ethylene include chemicals such as ethylene dichloride, ethylene oxide, alpha olefins, and ethylbenzene. Further, smaller applications are, among others, vinyl acetate monomer and the elastomer EPDM.

Shale Gas Boom
The shale gas boom in the USA resulted in an unprecedented surge of announcements to construct new ethane crackers. In contrast to other feedstocks such as naphtha or propane, the cracking of ethane yields a rather high amount of ethylene. Ceresana forecasts about three quarters of total ethylene output being ethane-based in 2021.

Considerable Decline of Feedstock Costs
The notable decline of prices for ethane in recent years has caused a significant change of the cost situation for manufacturers of ethylene. Average feedstock costs per tonne of ethylene manufactured fell by about 40% between 2008 and 2013. Manufacturing ethylene from ethane enjoys a notable competitive advantage: In the fourth quarter of 2013, cash costs (consisting of fixed, variable operational and feedstock costs minus profit generated with by-products) were two thirds lower when using ethane than when using naphtha as feedstock.

This study will highlight the effects of this development in detail:
- Price development of feedstocks, intermediates and end products such as polyethylene, PVC, polystyrene, etc.
- Changes in cost base (fixed, variable operational, and feedstock costs) as well as profits generated with by-products of ethylene using ethane, propane, naphtha, and butane
- Effects of developments in demand and supply as well as export opportunities of ethylene and its derivatives

Polyethylene Prime Application
The US polyethylene industry is expected to remain the main consumer of ethylene in the USA. Depending on density and rigidity of the product, polyethylene is classified as either HDPE, LDPE or LLDPE. In 2013, about 60% of US demand for ethylene was accounted for by producers of these plastics.

Positive Prospects for Polyethylene Demand
Large production sites for HDPE and LLDPE in particular will be constructed in the near future. Given the upturn of the real estate sector and ever increasing consumption expenditure, prospects for domestic demand in the USA are good. This will result in growth impulses for polyethylene demand via development in the construction and packaging industries. However, sales volume of polyethylene on foreign markets has to rise notably in the future in order to ensure an acceptable degree of capacity utilization of US facilities.

Market for Ethylene Oxide Recovering
In 2013, production of ethylene oxide was still at levels recorded in 2009, the year the crisis hit, whereas demand in downstream industries, PET in particular, recovered notably. Accounting for about 50% of ethylene oxide demand at the moment, ethylene glycol, used in the production of PET, is the most important sales market. Recently, the USA had to increasingly import ethylene glycol. US demand for ethylene oxide in the production of ethylene glycol will rise again in the future.

Export Hit PVC
The plastic PVC is produced via the intermediates ethylene dichloride and the vinyl chloride manufactured from it. In the past, notably more than 40% of US PVC output had been exported. This was a major support for the PVC that suffers from low domestic demand. The majority of all plastic pipes are made from PVC by now. Thus, the strong need for modernization of the water supply and sewage networks in the USA should have a positive effect on the demand for PVC.

Alpha Olefins of Above-Average Importance
Compared to other regions, the USA consume a rather high amount of alpha olefins. Alpha olefins are mainly used to manufacture polyethylene, conveying a higher rigidity to the final product.

Limited Growth for Ethylbenzene/Styrene
The application ethylbenzene can only to a limited extent profit from the shale gas boom. Ethylbenzene is almost exclusively processed into styrene, the largest part of which is, in turn, in converted into polystyrene. After the polystyrene industry suffered a number of blows in the past eight years, impulses from the packaging as well as electrics and electronics sectors are offering the chance for moderate growth.

Increase of Ethylene Capacity by Half
Should all current plans for capacity creation and expansion be realized, production capacity for ethylene will increase by half until 2018, despite the USA offering large capacities already. This study will give detailed information as to where the additional ethylene will be consumed.


The Study in Brief:
Chapter 1 depicts supply and prices of feedstocks and their effects on the ethylene industry - starting with crude oil and natural gas until ethane, propane, butane, naphtha, and gas oil. It also includes a detailed cost analysis of ethylene production, depending on the feedstock used. Data is given on fixed, variable operational, and feedstock costs as well as a comparison of cash costs and profits generated with by-products. Quarterly depiction of the years 2005 to 2013 and forecasts for the years 2013 to 2021 are provided.

Chapter 2 offers an overview over the market for ethylene in the USA: Market data regarding revenues development, demand and production, existing and future capacities as well as trade are explained in detail.

Chapter 3 analyzes the market for derivatives of ethylene. Data on demand, revenues, prices, costs, production, trade and a list of manufacturers including capacities is provided for the most important applications.
Headings 3.1. to 3.3. are examining the various types of polyethylene in more detail: HDPE, LDPE, and LLDPE. Chapter 3.4 analyzes the value creation starting from ethylene dichloride and vinyl chloride up to polyvinyl chloride. Chapter 3.5 examines the market for ethylene oxide and the downstream segments ethylene glycol, ethanolamines, and non-ionic surfactants. The following chapters are dedicated to derivatives of ethylene such as alpha olefins as well as the value chain from ethylbenzene and styrene to applications like polystyrene (PS), expandable polystyrene (EPS), acrylonitrile butadiene styrene (ABS)/styrene acrylonitrile (SAN) and styrene butadiene rubber (SBR), which will be profiled and analyzed separately.

Chapter 4 offers a useful directory of producers within the US ethylene value chain. The profiles are clearly arranged according to contact details, sales, profit, product range, production sites, and summary profile.
Each profile also includes specific information about the value chain as well as current and future production capacities for ethylene and derivatives. These are split by site and product.

Extensive profiles are given for the largest 48 manufacturers, including Chevron Phillips Chemical Company LLC (CPChem), Exxon Mobil Corporation, LyondellBasell Industries AF S.C.A., Huntsman International LLC, The Dow Chemical Company, Occidental Petroleum Corporation, Formosa Plastics Group (FPG), Royal Dutch Shell PLC, Styrolution Group GmbH (JV between BASF and INEOS), Total S.A., and Westlake Chemical Corporation.



Table of Contents


1 Feedstocks, Costs, and Prices
1.1 Feedstocks - Analysis
1.2 Cost Analysis
1.2.1 Ethane
1.2.2 Naphtha
1.2.3 Propane
1.2.4 Butane
1.2.5 Overview Over Costs for Ethylene

2 Market Data - Ethylene
2.1 Demand
2.2 Revenues
2.3 Production
2.4 Capacities and Trade

3 Market Data - Derivatives
3.1 Polyethylene - HDPE
Demand
Revenues, Prices, and Costs
Production
Capacities and Trade
3.2 Polyethylene - LLDPE
Demand
Revenues, Prices, and Costs
Production
Capacities and Trade
3.3 Polyethylene - LDPE
Demand
Revenues, Prices, and Costs
Production
Capacities and Trade
3.4 Ethylene Dichloride
Demand
Revenues
Production
Capacities and Trade
3.4.1 Vinyl Chloride
Demand
Revenues
Production
Capacities and Trade
3.4.1.1 Polyvinyl Chloride
Demand
Revenues, Prices, and Costs
Production
Capacities and Trade
3.5 Ethylene Oxide
Demand
Revenues
Production
Capacities and Trade
3.5.1 Ethylene Glycol
Demand
Revenues
Production
Capacities and Trade
3.5.2 Ethanolamine
Demand
Production
Capacities and Trade
3.5.3 Non-Ionic Surfactants
Demand
Production and Trade
3.6 Alpha Olefins
Demand
Production
Capacities and Trade
3.7 Ethylbenzene
Demand
Revenues
Production
Capacities and Trade
3.7.1 Styrene
Demand
Revenues
Production
Capacities and Trade
3.7.1.1 Polystyrene
Demand
Revenues, Prices, and Costs
Production
Capacities and Trade
3.7.1.2 Expandable Polystyrene
Demand
Revenues
Production
Capacities and Trade
3.7.1.3 Styrene-Butadiene Rubber
Demand
Revenues
Production
Capacities and Trade
3.7.1.4 Acrylonitrile-Butadiene Styrene (ABS)/ Styrene-Acrylonitrile (SAN)
Demand
Revenues
Production
Capacities and Trade
3.8 Other Ethylene Applications

4 Company Profiles
Acrylonitrile butadiene styrene (4 Producers)
Alpha olefins (4)
Diethylene glycol (7)
Ethanolamine (4)
Ethylbenzene (7)
Ethylene (21)
Ethylene dichloride (5)
Ethylene glycol (6)
Ethylene oxide (9)
Ethylene propylene diene monomer (4)
Expandable polystyrene (5)
High-density polyethylene (HDPE) (9)
Linear low-density poly- ethylene (LLDPE) (7)
Low-density polyethylene (LDPE) (7)
Polystyrene (9)
Polyvinyl chloride (8)
Styrene (9)
Styrene-butadiene rubber (6)
Triethylene glycol (7)
Vinyl acetate monomer (4)
Vinyl chloride (5)

(Note: Manufacturers may be listed multiple times)


List of Graphsarrow

Graph 1: Production of ethylene from 2005 to 2021 - split by feedstocks
Graph 2: Production of ethylene from 2005 to 2013 (quarters) - split by feedstocks
Graph 3: Production of natural gas from 2005 to 2021 - split by type of deposits
Graph 4: Average price for natural gas from 2005 to 2021 in US$/tonne and US$/MMBtu
Graph 5: Average prices for natural gas, ethane, propane, and butane from 2005 to 2013 (quarters) in US$/tonne
Graph 6: Average prices for natural gas, ethane, propane, and butane from 2005 to 2021 (quarters) in US$/tonne
Graph 7: Average prices for natural gas, ethane, propane, and butane from 2005 to 2021 (quarters) in cents/gallon
Graph 8: Average price for crude oil and naphtha from 2005 to 2021 in US$/tonne and US$/MMBtu
Graph 9: Average price for crude oil and naphtha from 2005 to 2013 (quarters) in US$/tonne und US$/barrel
Graph 10: Cost analysis of ethylene produced based on ethane from 2005 to 2013 (quarters)
Graph 11: Cost analysis of ethylene produced based on ethane from 2005 to 2021
Graph 12: Production of by-products in the manufacturing of ethylene based on ethane
Graph 13: Cost analysis of ethylene produced based on naphtha from 2005 to 2013 (quarters)
Graph 14: Cost analysis of ethylene produced based on naphtha from 2005 to 2021
Graph 15: Production of by-products in the manufacturing of ethylene based on naphtha
Graph 16: Cost analysis of ethylene produced based on propane from 2005 to 2013 (quarters)
Graph 17: Cost analysis of ethylene produced based on propane from 2005 to 2021
Graph 18: Production of by-products in the manufacturing of ethylene based on propane
Graph 19: Cost analysis of ethylene produced based on butane from 2005 to 2013 (quarters)
Graph 20: Cost analysis of ethylene produced based on butane from 2005 to 2021
Graph 21: Production of by-products in the manufacturing of ethylene based on butane
Graph 22: Cost analysis of ethylene production from 2005 to 2013 (quarters)
Graph 23: Cost analysis of ethylene production from 2005 to 2021
Graph 24: Production of by-products in the manufacturing of ethylene
Graph 25: Demand for ethylene in the USA from 2005 to 2021
Graph 26: Demand for ethylene in the USA from 2005 to 2021 - split by applications
Graph 27: Revenues generated with ethylene from 2005 to 2021 in billion US$ und billion
Graph 28: Production of ethylene from 2005 to 2021 in million tonnes
Graph 29: Planned changes in ethylene capacity in the USA in million tonnes
Graph 30: Import and export of ethylene in the USA from 2005 to 2021
Graph 31: Demand for HDPE in the USA from 2005 to 2021
Graph 32: Revenues generated with HDPE in the USA from 2005 to 2021 in billion US$ und billion
Graph 33: Prices and costs of HDPE from 2005 to 2021 in US$/tonne and cts/lb
Graph 34: Production of HDPE in the USA from 2005 to 2021
Graph 35: Import and export of HDPE in the USA from 2005 to 2021
Graph 36: Demand for LLDPE in the USA from 2005 to 2021
Graph 37: Revenues generated with LLDPE in the USA from 2005 to 2021 in billion US$ und billion
Graph 38: Prices and costs of LLDPE from 2005 to 2021 in US$/tonne and cts/lb
Graph 39: Production of LLDPE in the USA from 2005 to 2021
Graph 40: Import und Export von LLDPE in den USA von 2005 bis 2021
Graph 41: Demand for LDPE in the USA from 2005 to 2021
Graph 42: Revenues generated with LDPE in the USA from 2005 to 2021 in billion US$ und billion
Graph 43: Prices and costs of LDPE from 2005 to 2021 in US$/tonne and cts/lb
Graph 44: Production of LDPE in the USA from 2005 to 2021
Graph 45: Import and export of LDPE in the USA from 2005 to 2021
Graph 46: Demand for ethylene dichloride in the USA from 2005 to 2021 - split by applications
Graph 47: Revenues generated with ethylene dichloride in the USA from 2005 to 2021 in billion US$ und billion
Graph 48: Production of ethylene dichloride in the USA from 2005 to 2021
Graph 49: Import and export of ethylene dichloride in the USA from 2005 to 2021
Graph 50: Demand for vinyl chloride in the USA from 2005 to 2021 - split by applications
Graph 51: Revenues generated with vinyl chloride in the USA from 2005 to 2021 in billion US$ und billion
Graph 52: Production of vinyl chloride in the USA from 2005 to 2021
Graph 53: Import and export of vinyl chloride in the USA from 2005 to 2021
Graph 54: Demand for PVC in the USA from 2005 to 2021
Graph 55: Revenues generated with PVC in the USA from 2005 to 2021 in billion US$ und billion
Graph 56: Prices and costs of PVC from 2005 to 2021 in US$/tonne and cts/lb
Graph 57: Production of PVC in the USA from 2005 to 2021
Graph 58: Import and export of PVC in the USA from 2005 to 2021
Graph 59: Demand for ethylene oxide in the USA from 2005 to 2021
Graph 60: Demand for ethylene oxide in the USA from 2005 to 2021 - split by applications
Graph 61: Revenues generated with ethylene oxide in the USA from 2005 to 2021 in billion US$ und billion
Graph 62: Production of ethylene oxide in the USA from 2005 to 2021
Graph 63: Demand for ethylene glycol in the USA from 2005 to 2021
Graph 64: Revenues generated with ethylene glycol in the USA from 2005 to 2021 in billion US$ und billion
Graph 65: Production of ethylene glycol in the USA from 2005 to 2021
Graph 66: Import and export of ethylene glycol in the USA from 2005 to 2021
Graph 67: Demand for ethanolamine in the USA from 2005 to 2021
Graph 68: Production of ethanolamine in the USA from 2005 to 2021
Graph 69: Import and export of ethanolamine in the USA from 2005 to 2021
Graph 70: Demand for non-ionic surfactants in the USA from 2005 to 2021
Graph 71: Production of non-ionic surfactants in the USA from 2005 to 2021
Graph 72: Import and export of non-ionic surfactants in the USA from 2005 to 2021
Graph 73: Demand for alpha olefins in the USA from 2005 to 2021
Graph 74: Production of alpha olefins in the USA from 2005 to 2021
Graph 75: Import and export of alpha olefins in the USA from 2005 to 2021
Graph 76: Demand for ethylbenzene in the USA from 2005 to 2021 - split by applications
Graph 77: Revenues generated with ethylbenzene in the USA from 2005 to 2021 in billion US$ und billion
Graph 78: Production of ethylbenzene in the USA from 2005 to 2021
Graph 79: Import and export of ethylbenzene in the USA from 2005 to 2021
Graph 80: Demand for styrene in the USA from 2005 to 2021
Graph 81: Demand for styrene in the USA from 2005 to 2021 - split by applications
Graph 82: Revenues generated with styrene in the USA from 2005 to 2021 in billion US$ und billion
Graph 83: Production of styrene in the USA from 2005 to 2021
Graph 84: Import and export of styrene in the USA from 2005 to 2021
Graph 85: Demand for polystyrene in the USA from 2005 to 2021
Graph 86: Revenues generated with polystyrene in the USA from 2005 to 2021 in billion US$ und billion
Graph 87: Prices and costs of polystyrene from 2005 to 2021 in US$/tonne and cts/lb
Graph 88: Production of polystyrene in the USA from 2005 to 2021
Graph 89: Import and export of polystyrene in the USA from 2005 to 2021
Graph 90: Demand for EPS in the USA from 2005 to 2021
Graph 91: Revenues generated with EPS in the USA from 2005 to 2021 in billion US$ und billion
Graph 92: Production of EPS in the USA from 2005 to 2021
Graph 93: Import and export of EPS in the USA from 2005 to 2021
Graph 94: Demand for SBR in the USA from 2005 to 2021
Graph 95: Revenues generated with SBR in the USA from 2005 to 2021 in billion US$ und billion
Graph 96: Production of SBR in the USA from 2005 to 2021
Graph 97: Import and export of SBR in the USA from 2005 to 2021
Graph 98: Demand for ABS/SAN in the USA from 2005 to 2021
Graph 99: Revenues generated with ABS/SAN in the USA from 2005 to 2021 in billion US$ und billion
Graph 100: Production of ABS/SAN in the USA from 2005 to 2021
Graph 101: Import and export of ABS/SAN in the USA from 2005 to 2021
Graph 102: Demand for ethylene in other applications in the USA from 2005 to 2021


List of Tablesarrow

Table 1: Demand for ethylene in the USA from 2005 to 2021 - split by applications
Table 2: Capacities of ethylene manufacturers in the USA in 2013
Table 3: Changes in ethylene capacities in the USA - split by producer
Table 4: HDPE capacities in the USA in 2013 - split by producer
Table 5: Changes in HDPE capacities in the USA - split by producer
Table 6: LLDPE capacities in the USA in 2013 - split by producer
Table 7: Changes in LLDPE capacities in the USA - split by producer
Table 8: LDPE capacities in the USA in 2013 - split by producer
Table 9: Ethylene dichloride capacities in the USA in 2013 - split by producer
Table 10: Vinyl chloride capacities in the USA in 2013 - split by producer
Table 11: Changes in vinyl chloride capacities in the USA - split by producer
Table 12: PVC capacities in the USA in 2013 - split by producer
Table 13: Changes in PVC capacities in the USA - split by producer
Table 14: Demand for ethylene oxide in the USA from 2005 to 2021 - split by applications
Table 15: Ethylene oxide capacities in the USA in 2013 - split by producer
Table 16: Changes in ethylene oxide capacities in the USA - split by producer
Table 17: Ethylene glycol capacities in the USA in 2013 - split by producer
Table 18: Ethanolamine capacities in the USA in 2013 - split by producer
Table 19: Alpha olefins capacities in the USA in 2013 - split by producer
Table 20: Changes in alpha olefins capacities in the USA - split by producer
Table 21: Ethylbenzene capacities in the USA in 2013 - split by producer
Table 22: Demand for styrene in the USA from 2005 to 2021 - split by applications
Table 23: Styrene capacities in the USA in 2013 - split by producer
Table 24: Polystyrene capacities in the USA in 2013 - split by producer
Table 25: EPS capacities in the USA in 2013 - split by producer
Table 26: SBR capacities in the USA in 2013 - split by producer
Table 27: ABS capacities in the USA in 2013 - split by producer
Table 28: Vinyl acetate monomer capacities in the USA in 2013 - split by producer
Table 29: EPDM capacities in the USA in 2013 - split by producer

 


 

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Ethylene Value Chain USA


Ethylene Value Chain USA
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