Honeywell has recently began development on a simple, one-step process to turn methane from natural gas into ethylene. If this process can be duplicated on a large, commercial scale, the cost of raw materials that are used in a wide variety of plastics would definitely be lower. This would also allow Honeywell to step into the booming, multi-billion dollar plastics industry.
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Honeywell develops methane-to-ethylene technology