US ethane exports averaged 537 kbpd in March 2023, an all-time high since the US began exporting ethane nearly a decade ago. US ethane exports have increased every year since 2014 (when the US began exporting ethane), except for 2020, when the economic slowdown triggered by the COVID-19 pandemic triggered a slight decrease. As global demand and capacity for ethane as a petrochemical feedstock grows, ethane exports are expected to grow by 4% in 2023 and 5% in 2024, averaging nearly 500 kbpd by the end of next year. Domestic consumption of ethane has also grown, but growth is predicted to slow in 2023 and 2024 because no new ethane cracking capacity is expected to come online in the US.