Global Petrochemicals Market: Concerns Regarding Environmental Hazards of Petroleum-Based Products to Drive Development of Bio-Based Products, Says TMR
The global petrochemicals market features a highly fragmented vendor landscape and is intensely competitive, with the top three vendors, namely BASF SE, Sinopec Limited, and The Dow Chemical Company collectively accounting for a mere 20% of the market in 2013, observes Transparency Market Research in a recent report. Operations of these top vendors are spread across the entire value chain in order to gain economies of scale and undertake production at low costs to sustain in the highly competitive market.
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