Williamstown, MA -- (SBWIRE) -- 01/12/2012 -- GlobalData, the industry analysis specialist, has released its latest research, "Joint Ventures in the Petrochemical Industry - Key Strategy to Manage Globalization". The study, which is an offering from the company's Petrochemical Research Group, provides an in-depth analysis of the joint venture trends in the global petrochemical industry. It explains the reasons for increase in joint ventures in the Asia Pacific and Middle East region. The study provides detailed analysis of joint venture deals in the recent past. In addition, it gives details of major companies active in joint venture deals across the globe. It also provides the historic and future forecasts of basic petrochemicals and major plastics production in China and the Middle East, which are driving the growth of the global petrochemicals industry. The report highlights the importance of joint venture deals to manage globalization. The report is based upon data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData's research team of industry experts.

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The petrochemicals industry entered a transitional phase after the global economic slowdown in 2008-2009 severally affected the growth of the industry. After experiencing difficult times during the downturn, petrochemical producers are now focusing on attaining both economies of scale and geographic expansion to gain a competitive advantage. Producers are seeking to create a presence in demand-rich geographies and are diversifying their portfolios to achieve higher growth rates. This has led to an increase in the number of partnership between companies of different regions. Since European and North American producers are grappling with declining demand, they are setting up joint ventures with Asian or Middle Eastern companies to sustain their profit margin. In the recent past, the majority of joint venture deals have happened in the Middle East and Asia Pacific.

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