The basic petrochemicals market is projected to grow from 250.3 Million tons in 2016 to 310.3 Million tons by 2021 at a CAGR of 4.4% from 2016 to 2021.
Albany, NY -- (SBWIRE) -- 07/15/2019 -- Petrochemicals are an essential part of commodities used in daily lives. They are used in various end-use industries, ranging from manufacturing to consumer goods. Petrochemicals are chemical compounds derived from petroleum and other hydrocarbons, which are obtained from crude oil and natural gas. They are primarily used as chemical building blocks for a variety of materials and applications. Rising demand for petrochemicals in major end-use industries coupled with favorable operating conditions, primarily in the Middle East and Asia Pacific, is expected to drive the global market for petrochemicals from 2013 to 2030.
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Demand for bio-based chemicals is increasing due to growing consumer awareness and benefits associated with their usage. Investment in bio-based chemicals in the public sector (including national laboratories and universities) and commercial sector (including large multinational corporations) is anticipated to increase in the near future. Therefore, this trend is estimated to hamper the petrochemicals market. Additionally, volatility in prices of crude oil & natural gas is likely to inhibit market growth. However, rising shale gas discoveries, primarily in North America (including the U.S. and Canada) is benefitting petrochemical producers, since shale gas is considered a substitute feedstock that is used in the manufacture of petrochemicals.
The report provides analysis and forecast for the Global Petrochemicals Market in terms of volume (million tons) and revenue (US$ Bn) from 2013 to 2020. The study segments the market based on product type into ethylene, propylene, butadiene, benzene, xylene, toluene, vinyls, styrene and methanol. The report further analyzes each product type based on their application and region from 2013 to 2030. The report also includes estimates and forecast of demand for petrochemicals in major geographical regions including North America, Europe, China, Rest of Asia Pacific, the Middle East & Africa, and Latin America. The market size and forecast for each region has been provided for the period from 2013 to 2020 along with the CAGR (%) for the forecast period between 2014 and 2020. All product segments are forecast for the period from 2013 to 2020 in terms of volume (million tons) and revenue (US$ Bn).
The report also comprises a detailed value chain analysis that offers a comprehensive view of value addition at each stage of the value chain. The value chain of petrochemical is significantly integrated, both from the downstream and the upstream perspective. It is dominated by refineries that process raw crude oil, natural gas and coal to manufacture olefins and aromatics through fluid catalytic cracking of petroleum fractions. The study includes Porter's Five Forces model, which analyzes the existing competition, bargaining power of suppliers, bargaining power of buyers, threat from substitutes, and threat from new entrants. The report includes drivers and restraints affecting the growth of the petrochemicals market, and the impact of these factors on the market in the near future. Additionally, it provides opportunities for the petrochemicals market on the global level during the forecast period. The report also includes market shares of major companies operating in the global petrochemicals market. It also provides market attractiveness of petrochemicals. The market attractiveness analysis is based on various factors such as market size of each product, growth rate during the forecast period, demand for downstream products, and government and environmental regulations.
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The report comprises company profiles of major players in the market. These profiles cover parameters such as company overview, product portfolio, financial overview, business strategies, and recent developments. Major players analyzed in the report include BASF SE, ExxonMobil, The Dow Chemical Company, Shell Chemical Company, SABIC, Sinopec Limited, LyondellBasell Industries, Total S.A., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical Company LLC and E. I. du Pont de Nemours and Company.
This report segments the global petrochemicals market as follows:
Petrochemicals Market: Product Segment Analysis
Other (Including Alpha olefins and vinyl acetate)
Other (Including Polygas chemicals and oxo-chemicals)
Acrylonitrile butadiene styrene
Other (Including Nitrile rubber and mechanical belts)
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