Steam Cracker Market Size, Share, Trends, and Forecast: 2024-2030

QY Research Inc. (Global Market Report Research Publisher) announces the release of 2024 latest report "Steam Cracker- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030". Based on current situation and impact historical analysis (2019-2023) and forecast calculations (2024-2030), this report provides a comprehensive analysis of the global Wire Drawing Dies market, including market size, share, demand, industry development status, and forecasts for the next few years.
 
Steam crackers are large and complex Kiloton at the heart of petrochemical complexes, producing the important building blocks ethylene, propylene, butadiene, aromatics and acetylene. They involve cracking hydrocarbon feedstocks in the presence of steam and at temperatures of between 800° and 870°C. The resulting cracked gas is separated into valuable products such as ethylene, propylene, acetylene, butadiene, pyrolysis gasoline and BTX, all according to the specifications required for downstream processes.
 
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 Steam crackers are large and complex Kiloton at the heart of petrochemical complexes, producing the important building blocks ethylene, propylene, butadiene, aromatics and acetylene. They involve cracking hydrocarbon feedstocks in the presence of steam and at temperatures of between 800° and 870°C. The resulting cracked gas is separated into valuable products such as ethylene, propylene, acetylene, butadiene, pyrolysis gasoline and BTX, all according to the specifications required for downstream processes.

The global Steam Cracker market size is projected to grow from US$ 5,043.1million in 2024 to US$ 2,102.2 million in 2030; it is expected to grow at a CAGR of -13.57% from 2024 to 2030.
 This report profiles key players of Steam Cracker such as Sinopec Engineering Incorporation，Linde，Lummus，PetroChina，Technip Energies，Wison，KBR

In 2023, the global top three Steam Cracker players account for 73.51% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Steam Cracker.

Sinopec is one of China's largest integrated energy and chemical companies, mainly engaged in oil and natural gas exploration and development, pipeline transportation, and sales; petroleum refining, petrochemicals, coal chemicals, chemical fiber and other chemical production and product sales, storage and transportation; import and export, agency import and export business of oil, natural gas, petroleum products, petrochemicals and other chemical products and other commodities and technologies; research, development and application of technology and information. The Sino-Kuwait joint venture Guangdong refining and chemical integration project is currently one of the largest joint venture refining and chemical projects in China. It is jointly constructed by China Petroleum & Chemical Corporation and Kuwait National Petroleum Co., Ltd. The total investment of the project is 59.013 billion yuan, with an annual processing capacity of 15 million tons of crude oil and an annual production of 1 million tons of ethylene. It is a landmark and demonstration project for China's petrochemical industry.

Linde is a leading global industrial gases and engineering company with 2022 sales of $33 billion. The company serves a variety of end markets such as chemicals & energy, food & beverage, electronics, healthcare, manufacturing, metals and mining. Linde Engineering is one of the few technology contractors worldwide that can deliver technology, engineering, procurement and construction (T-EPC) services for the entire ethylene plant along with downstream units, utilities and offsite units. In 2022, BASF, SABIC and Linde have started construction of the world's first demonstration plant for large-scale electrically heated steam cracker furnaces. By using electricity from renewable sources instead of natural gas, the new technology has the potential to reduce CO2 emissions of one of the most energy-intensive production processes in the chemical industry by at least 90% compared to technologies commonly used today. The demonstration plant will be fully integrated into one of the existing steam crackers at BASF's Verbund site in Ludwigshafen, Germany. It will test two different heating concepts, processing around 4 tons of hydrocarbon per hour and consuming 6 megawatts of renewable energy. The start-up of the demonstration plant is targeted for 2023.

Lummus is a leading licensor of proprietary petrochemical, refining, gasification and gas processing technologies and a supplier of catalysts, proprietary equipment and related engineering services to customers worldwide. Lummus provides a wide range of services including feasibility studies, process design, engineering and project management. Lummus's proprietary ethylene steam cracking process is the most widely-applied process for the production of polymer grade ethylene, polymer grade propylene and butadiene. The process is noted for its performance, including high product yield and energy-efficiency, low investment cost and operating reliability. Lummus's worldwide experience encompasses plants designed for ethylene capacity up to 1,450,000 MTA and feedstocks from ethane through gasoils. March 28, 2017-CB&I (NYSE:CBI) announced it has been awarded a contract valued at approximately $1.3 billion by Total Petrochemicals & Refining USA, Inc. to provide engineering, procurement and construction for an ethane cracker project located in Port Arthur, Texas. The new cracker will have an ethylene capacity of one million metric tons per year. CB&I was previously awarded a contract for front-end engineering and design services and the ethylene technology license.

Global Development of Steam Crackers

Global ethylene consumption is unevenly distributed. Ethylene demand in Asia is gradually expanding. In 2021, global ethylene consumption will reach 175 million tons, of which Asia, North America, the Middle East and Europe are the main ethylene consumption regions in the world. In order to meet the rapidly growing ethylene consumption demand in Asia, the new ethylene production capacity in Asia has exploded since 2020, and China is the main force of expansion.

Driven by high-quality ethane resources, the Middle East ushered in an ethylene capacity expansion cycle from 2009 to 2016. In 2016, the ethylene production capacity in the Middle East was 34.17 million tons, an increase of 75% over 2009. After this production cycle, due to the large-scale construction of ethane-to-ethylene production capacity in the Middle East, ethane resource consumption accelerated, and associated gas resources rich in ethane and other light hydrocarbons in oil fields gradually decreased. Since 2015, the supply of NGL in OPEC countries has dropped sharply, and the growth rate of ethylene production capacity has slowed down.

The shale gas revolution has brought a large amount of ethane raw material resources. Similar to the supply of ethylene raw materials in the Middle East, most of the ethane in the United States comes from NGL obtained after natural gas separation in natural gas processing plants. As an unconventional natural gas, shale gas has an ethane content of up to 12-35%. Since 2016, the ethane production in the United States has shown a clear upward trend. The expansion of a large number of low-carbon raw material resources has driven a new round of ethylene capacity expansion in the United States from 2016 to 2020. The ethylene capacity has increased from 28.19 million tons/year in 2016 to 38.85 million tons/year in 2020, with an average annual compound growth rate of 8.35%. The United States started the first wave of ethane cracking projects from 2016 to 2020, and the second wave of projects from 2022 to 2024. There are fewer projects involved this time, and it is expected that the ethane cracking capacity will be significantly lower than before.

The slowdown in demand and high raw material costs have had a great impact on European ethylene, and the capacity growth has stagnated for a long time and has shown a slight downward trend. From 2008 to 2015, with the increase in the supply of associated gas from Middle Eastern oil fields, Europe was greatly impacted by low-priced ethylene products from the Middle East. Coupled with the rapid development of the ethylene industry in Northeast Asia and the revival of the petrochemical industry brought about by the shale gas revolution in the United States, Europe's ethylene cost competitiveness has gradually weakened, pushing Europe's old ethylene production capacity to further withdraw from the market.

Steam crackers traditionally used naphtha as a feedstock, but there has been a shift towards ethane in recent years. Ethane is a byproduct of shale gas extraction, and its availability and low cost have made it an attractive feedstock for steam crackers. This trend is expected to continue as more and more countries tap into their shale gas reserves.

Many companies are integrating their steam cracker plants with downstream units to streamline operations and optimize production. By integrating steam crackers with units like polyethylene plants or propylene units, companies can efficiently convert the basic building blocks into value-added products. This integration helps to reduce production costs and increase overall profitability.

The steam cracker industry is facing increasing pressure to reduce its environmental footprint. Efforts are being made to develop more energy-efficient steam crackers and reduce greenhouse gas emissions. Technologies like steam cracking with carbon capture and utilization (CCU) are being explored to capture and utilize carbon dioxide emissions generated during the process. Additionally, there is a push towards using renewable feedstocks and developing bio-based alternatives to reduce reliance on fossil fuels.

Electrification of cracking furnaces will become an important way to reduce carbon emissions from ethylene cracking units. Many companies around the world and large domestic petroleum and petrochemical companies are conducting research on electric heating cracking furnaces. Including long-life and high-power electric heating furnace design, new high-efficiency electric heating body material technology, advanced control systems, etc., all need to achieve technological breakthroughs.

The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
 
The Steam Cracker market is segmented as below:
By Company
 
Segment by Type
    Based on LPG
    Based on Naphtha
    Based on Ethane
    Others
 
Segment by Application
    Ethylene Production
    Others
 
Each chapter of the report provides detailed information for readers to further understand the Steam Cracker market:
Chapter 1: Introduces the report scope of the Steam Cracker report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2019-2030)
Chapter 2: Detailed analysis of Steam Cracker manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2019-2024)
Chapter 3: Provides the analysis of various Steam Cracker market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2019-2030)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2019-2030)
Chapter 5:  Sales, revenue of Steam Cracker in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2019-2030)
Chapter 6:  Sales, revenue of Steam Cracker in country level. It provides sigmate data by Type, and by Application for each country/region.(2019-2030)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2019-2024)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
 
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Steam Cracker competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Steam Cracker comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Steam Cracker market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
 
Other relevant reports of QYResearch:
Steam Cracker- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global Steam Cracker Market Research Report 2024
Global Steam Cracker Industry Research Report, Growth Trends and Competitive Analysis 2024-2030
Global Steam Cracker Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2024-2030
Global Steam Cracker Market Insights, Forecast to 2030
Steam Cracker - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030
Global Ethylene Steam Cracker Market Insights, Forecast to 2030
Global Ethylene Steam Cracker Market Research Report 2024
Global Steam Cracking Technology Market Insights, Forecast to 2030
Global Steam Cracking Technology Market Research Report 2024
Steam Cracker - Global Market Insights and Sales Trends 2024
Global and India Steam Cracker Market Report & Forecast 2023-2029
Global Steam Cracker Market Report, History and Forecast 2018-2029, Breakdown Data by Companies, Key Regions, Types and Application
Global Steam Cracker Market Insights, Forecast to 2029
Global Steam Cracker Market Research Report 2023
Global Steam Cracker Market Report, History and Forecast 2018-2029, Breakdown Data by Manufacturers, Key Regions, Types and Application
Global Ethylene Steam Cracker Market Insights, Forecast to 2029
Global Ethylene Steam Cracker Market Report, History and Forecast 2018-2029, Breakdown Data by Manufacturers, Key Regions, Types and Application
Global Ethylene Steam Cracker Market Research Report 2023
Global and India Ethylene Steam Cracker Market Report & Forecast 2023-2029
 
 

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