Ethane and ethylene are closely related hydrocarbons, and is a key building block for producing various chemicals, plastics, and synthetic materials.
Identifying what drives its consumption is typically relevant to the chemical manufacturing industry, particularly the production of plastics and other derivatives.
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Modern vehicles utilize a significant amount of plastics, which reduces the weight of the vehicle, helps improve fuel efficiency, and offers design flexibility. Ethylene is a primary building block for many of these plastics. When there's a surge in new orders for motor vehicles and parts, it could mean a corresponding increase in the demand for plastics used in the automotive industry.
The DJIA is often considered a barometer of the overall U.S. economy and industrial activity. A rising DJIA suggests positive investor sentiment, optimism about the future, and the expectation of strong economic activity. A growing economy often leads to increased manufacturing and industrial activity, which can increase the consumption of petrochemicals like ethane and ethylene.
This variable refers to the price of Brent crude oil in the spot market, typically quoted on a per-barrel basis. Brent crude is one of the major trading classifications of sweet light crude oil and serves as a major benchmark price for worldwide oil purchases.
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