Some of the major chemicals under the Light Olefins market comprise propylene, ethylene, and butylenes. Olefins are a part of the hydrocarbon family, which is comprised of organic compounds. In the contemporary chemical sector, light olefins are typically produced by means of steam cracking of natural gas or hydrocarbons in the liquid form. With rapid economic growth in several countries, the demand for light olefins has been on the rise. Since these are the major building blocks for petrochemicals, light olefins (ethylene and polypropylene) are indispensible in several industrial sectors.
The Light Olefins industry serves a myriad of markets such as plastic manufacturing and processing, construction, automobiles, textile, and the furnishing sector among others. Thus, the scope of this industry expands globally across a number of industry verticals. Currently, the demand for light olefins is being driven by the high demand for polyethylene in Asia Pacific.
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By Transparency Market Research