ResearchMoz added Latest Research Report titled " Petrochemicals Market in MENA 2015-2019: Worldwide Market Size, Shares, Trends, Growth, Survey and Forecast report " to it's Large Report database.

Albany, NY -- (SBWire) -- 10/27/2016 --Technavios research analyst predicts the petrochemicals market in MENA to grow at a CAGR of around 6%, in terms of volume, during the forecast period. The increased demand for petrochemical products from the automotive industry is the primary driver for the growth of this market. The automotive sector accounts for more than 15% consumption of the overall petrochemicals produced globally, with the MENA region accounting for 20% of the global production. For instance, the use of petrochemical products can increase the fuel efficiency of automobiles by nearly 30%.

The growing awareness towards greener environment and the increased focus towards vegetation as a replacement for chemical feedstock is expected to deter the market growth during the forecast period. Bio-based chemicals are replacing the traditional petroleum-based production of chemicals due to the reducing crude oil reserves and fluctuating prices.

Ethylene dominated the petrochemicals market in MENA during 2014, with a market share of 38%. This segment is expected to continue its leadership until the end of 2019, growing at a rate of 7%. The increased use of ethylene for the production of ethylene glycol is driving the growth of this segment. Ethylene glycol is used extensively across the world for the production of polyethylene terephthalate and polyester fibers for use in packaging and fabric industries.

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Polymer production accounted for 50% of the market share during 2014 and is expected to grow at a CAGR of 6% during the forecast period. The increased demand for polymers, especially polyethylene and polypropylene-based thermoplastics and elastomers, from the automotive industry, is driving the growth of this segment. Polymers are used in the automotive industry as a replacement for traditional heavy metals resulting in weight reduction and fuel optimization in vehicles.

The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
- Polymer
- Fertilizers
- Commodity trade
- Intermediates and other downstream products

The petrochemicals market in MENA is highly consolidated with the ten key suppliers and their subsidiaries accounting more than 70% of the market in terms of capacity. The market experienced high levels of capacity additions and is currently facing the issue of overcapacity and supply in various individual product segments.

The leading vendors in the market are -
- Sidi Kerir Petrochemicals
- Industries Qatar
- SABIC
- NPC
- APC
- Sipchem
- Sahara
- Yansab
- Kayan
- Petro Rabigh

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Key questions answered in this report:
- What will the market size and the growth rate be in 2019?
- What are the key factors driving the global wafer inspection equipment market?
- What are the key market trends impacting the growth of the global wafer inspection equipment market?
- What are the challenges to market growth?
- Who are the key vendors in the global wafer inspection equipment market?
- What are the market opportunities and threats faced by the vendors in the global wafer inspection equipment market?
- What are the trending factors influencing the market shares of APAC, North America, and Europe?
- What are the key outcomes of the five forces analysis of the global wafer inspection equipment market?

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