The global Petrochemical Market Size to reach around US$ 729 Bn by 2030 and is anticipated to grow at a CAGR of around 5.1% from 2021 to 2030.
Precedence Research, Recently Published Report on “ Petrochemical Market Size, Share & Growth Analysis Report By Product Type(Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Methanol), By Manufacturing processes (Fluid Catalytic Cracking (FCC), Steam cracking, Catalytic reforming), By Application (Aerospace, Agriculture, Automotive, Building & Construction, Consumer & Industrial Goods, and Others)Market Size, Share, Growth, Trends, Segment Forecasts, Regional Outlook 2021 - 2030”. The report offers an up-to-date analysis regarding the current market scenario, latest trends, key drivers, potential challenges, profitability graph and the overall market environment.
Petrochemical is an essential part of the chemical industry due to its increased adoption for synthetic material production. Petrochemicals are majorly produced from hydrocarbons like butane, ethane, propane, and other components of natural gas or petroleum. Thousands of end use products are manufactured using petrochemicals such as wind turbines, solar power panels, furniture, cosmetics, medicines, electronics, and plastics among others. Petrochemical plays crucial role in the growth of global economy. Petrochemicals are primarily manufactured using catalytic reforming, Fluid Catalytic Cracking (FCC), and steam cracking processes. Among all the products ethylene, propylene, toluene, methanol, and benzene are widely used petrochemicals across the globe. Toluene is used in the manufacturing of sports equipment’s and inks, while benzene is used in the food packaging, electronics, and furniture production. Ethylene and propylene are majorly adopted in paints, paper, detergent, electronics, and adhesive industries however; methanol is used for the construction of the buildings and thermal insulations. Excellent chemical as well as physical properties offered by the petrochemicals make it material of choice in many commercial applications across the globe.
Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1193
Growth Factors:
Increasing usage of petrochemical in industrial applications including construction, automotive, aviation, food, electricals, paint and coatings, paper and pulp is major factor driving growth of the global petrochemical market. Additionally, capacity expansion of petrochemical by the major operating players is another factor expected to boost growth of the target market in the coming years. Moreover, petrochemical industry provides several raw materials to the processing industries. This is in turn creating huge adoption of petrochemicals in manufacturing and processing industries worldwide and boosting growth of the global market. Further, evolution of the shale gas in the developed economies such as U.S. and Canada that has led to decrease the feedstock prices which has positive impact on the industrial growth. Nevertheless, emerging markets of petrochemical is anticipated to create potential opportunities for the growth of the target market.
Report Highlights:
- Among the product type segment, ethylene segment is dominated the overall market in 2020 with more than 25% share in terms of revenue, owing to its wide applications in various end use industries including transportation, construction and packaging. The polypropylene product type segment is expected to grow at a significant CAGR during the forecast time-frame.
- Among the manufacturing process, Fluid Catalytic Cracking (FCC) segment accounted for the significant share and is expected to continue its growth in the near future.
- Among the application building & construction segment accounted for the significant share. Automotive segment is expected to grow at a significant CAGR during the forecast time-frame.
- BASF SE accounted for a significant share of the global petrochemical market.
Regional Analysis:
The report covers data for North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia Pacific dominated the global market with a market share of more than 50%, in 2020. The growth of the region primarily attributed to rapid industrialization, coupled with increasing consumption of the petrochemical in countries of the Asia Pacific especially in the China. Increasing adoption of petrochemical in China for the various end user applications including automotive, electronics, construction, food & beverages is major factors boosting growth of the target industry and in turn growth of the Asia Pacific region. Further, presence of leading players, along with favorable government regulations are among major factors augmenting growth of the target market in the near future.
North America is expected to register significant market share in global market over the forecasted period, owing to growing activities of shale gas exploration in the North American countries especially in the United States and Canada of the region. U.S. and Canada accounted for more than 90% production of the shale gas in 2018. Further, capacity expansion by the leading players in the North America is among major factors anticipated to augment target industry growth in this region during the forecast period. Moreover, growing research and development activities by the key companies in the country is other important factor to contribute the high market share of North America over the forecast period. Growth in Europe is accredited to growing production of the ethylene in U.K. Germany and France, along with growing product demand from the automotive and construction industries. African and Middle Eastern region will display noticeable growth over the forecast period.
Key Market Players and Strategies:
The major companies functioning in the worldwide petrochemical include China Petroleum & Chemical Corporation, Exxon Mobil Corp., Chevron Phillips Chemical Company, Sumitomo Chemical Co., Ltd. BASF SE, Saudi Arabian Oil Co. DuPont de Nemours, Inc. Dow, BP Plc, Total S.A. among others. Noteworthy investment in the research and development of the petrochemical coupled with acquisition, mergers, and strategic collaborations are the key business strategies undertaken by the major companies operating in the global petrochemical market.
Market Segmentation
By Product Type
- Ethylene
- Polyethylene
- Ethylene oxide
- EDC
- Ethyl benzene
- Other (including alpha olefins, vinyl acetate, etc.)
- Propylene
- Polypropylene
- Propylene oxide
- Acrylonitrile
- Cumene
- Acrylic acid
- Isopropanol
- Other
- Butadiene
- SB Rubber
- Butadiene rubber
- ABS
- SB latex
- Other (nitrile rubber, mechanical belts, etc.)
- Benzene
- Ethyl benzene
- Phenol/cumene
- Cyclohexane
- Nitrobenzene
- Alkyl benzene
- Other (including alkyl benzene, maleic anhydride)
- Xylene
- Toluene
- Benzene
- Xylenes
- Solvents
- TDI
- Others (including pesticides, drugs, nitro toluene, etc.)
- Methanol
- Formaldehyde
- Gasoline
- Acetic acid
- MTBE
- Dimethyl ether
- MTO/MTP
- Other
By Manufacturing Processes
- Fluid Catalytic Cracking (FCC)
- Steam cracking
- Catalytic reforming
By Application
- Aerospace
- Agriculture
- Automotive
- Building & Construction
- Consumer & Industrial Goods
- Others
By Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- United Kingdom
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Product Types
2.3. Assumptions& Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Petrochemicals Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
Chapter 5. COVID 19 Impact on Petrochemicals Market
5.1. Covid-19: Petrochemicals Industry Impact
5.2. Petrochemicals Business Impact Assessment: Covid-19
5.2.1. Services Challenges/Disruption
5.2.2. Market Trends and Petrochemicals Opportunities in the COVID-19 Landscape for Major Markets
5.3. Strategic Measures against Covid-19
5.3.1. Government Support and Initiative to Combat Covid-19
5.3.2. Proposal for Petrochemicals Market Players to deal with Covid-19 Pandemic Scenario
Chapter 6. Petrochemicals Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.1.1. Rising demand for downstream products from end-use industries
6.1.1.2. Increasing capacity additions in the base chemical industry
6.1.2. Market Restraints
6.1.2.1. Fluctuating raw material prices
6.1.3. Market Opportunities
6.1.3.1. Emerging applications and markets
Chapter 7. Global Petrochemicals Market: Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.1.1. Petrochemicals Market Revenue by Market Players (2017 - 2020)
7.1.1.2. Petrochemicals Market Revenue Market Share by Market Players (2017 - 2020)
7.1.2. Key Organic/Inorganic Strategies Adopted by Players
7.1.2.1. Product Portfolio, Expansion, Geographic Expansion, Product Innovation
7.1.2.2. Merger and Acquisition, Collaboration and Partnerships
7.1.3. Market Players Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of End user
Chapter 8. Global Petrochemicals Market, By Product Type
8.1. Petrochemicals Market, by Product Type, 2017-2030
8.1.1. Ethylene
8.1.2. Market Revenue and Forecast (2017-2030)
8.1.2.1. Polyethylene
8.1.2.2. Market Revenue and Forecast (2017-2030)
8.1.2.3. Ethylene oxide
8.1.2.4. Market Revenue and Forecast (2017-2030)
8.1.2.5. EDC
8.1.2.6. Market Revenue and Forecast (2017-2030)
8.1.2.7. Ethyl benzene
8.1.2.8. Market Revenue and Forecast (2017-2030)
8.1.2.9. Other (including alpha olefins, vinyl acetate, etc.)
8.1.2.10. Market Revenue and Forecast (2017-2030)
8.1.3. Propylene
8.1.4. Market Revenue and Forecast (2017-2030)
8.1.4.1. Polypropylene
8.1.4.2. Market Revenue and Forecast (2017-2030)
8.1.4.3. Propylene oxide
8.1.4.4. Market Revenue and Forecast (2017-2030)
8.1.4.5. Acrylonitrile
8.1.4.6. Market Revenue and Forecast (2017-2030)
8.1.4.7. Cumene
8.1.4.8. Market Revenue and Forecast (2017-2030)
8.1.4.9. Acrylic acid
8.1.4.10. Market Revenue and Forecast (2017-2030)
8.1.4.11. Isopropanol
8.1.4.12. Market Revenue and Forecast (2017-2030)
8.1.4.13. Other
8.1.4.14. Market Revenue and Forecast (2017-2030)
8.1.5. Butadiene
8.1.6. Market Revenue and Forecast (2017-2030)
8.1.6.1. SB Rubber
8.1.6.2. Market Revenue and Forecast (2017-2030)
8.1.6.3. Butadiene rubber
8.1.6.4. Market Revenue and Forecast (2017-2030)
8.1.6.5. ABS
8.1.6.6. Market Revenue and Forecast (2017-2030)
8.1.6.7. SB latex
8.1.6.8. Market Revenue and Forecast (2017-2030)
8.1.6.9. Other (nitrile rubber, mechanical belts, etc.)
8.1.6.10. Market Revenue and Forecast (2017-2030)
8.1.7. Benzene
8.1.8. Market Revenue and Forecast (2017-2030)
8.1.8.1. Ethyl benzene
8.1.8.2. Market Revenue and Forecast (2017-2030)
8.1.8.3. Phenol/cumene
8.1.8.4. Market Revenue and Forecast (2017-2030)
8.1.8.5. Cyclohexane
8.1.8.6. Market Revenue and Forecast (2017-2030)
8.1.8.7. Nitrobenzene
8.1.8.8. Market Revenue and Forecast (2017-2030)
8.1.8.9. Alkyl benzene
8.1.8.10. Market Revenue and Forecast (2017-2030)
8.1.8.11. Other (including alkyl benzene, maleic anhydride)
8.1.8.12. Market Revenue and Forecast (2017-2030)
8.1.9. Xylene
8.1.10. Market Revenue and Forecast (2017-2030)
8.1.11. Toluene
8.1.12. Market Revenue and Forecast (2017-2030)
8.1.12.1. Benzene
8.1.12.2. Market Revenue and Forecast (2017-2030)
8.1.12.3. Xylenes
8.1.12.4. Market Revenue and Forecast (2017-2030)
8.1.12.5. Solvents
8.1.12.6. Market Revenue and Forecast (2017-2030)
8.1.12.7. TDI
8.1.12.8. Market Revenue and Forecast (2017-2030)
8.1.12.9. Others (including pesticides, drugs, nitro toluene, etc.)
8.1.12.10. Market Revenue and Forecast (2017-2030)
8.1.13. Methanol
8.1.14. Market Revenue and Forecast (2017-2030)
8.1.14.1. Formaldehyde
8.1.14.2. Market Revenue and Forecast (2017-2030)
8.1.14.3. Gasoline
8.1.14.4. Market Revenue and Forecast (2017-2030)
8.1.14.5. Acetic acid
8.1.14.6. Market Revenue and Forecast (2017-2030)
8.1.14.7. MTBE
8.1.14.8. Market Revenue and Forecast (2017-2030)
8.1.14.9. Dimethyl ether
8.1.14.10. Market Revenue and Forecast (2017-2030)
8.1.14.11. MTO/MTP
8.1.14.12. Market Revenue and Forecast (2017-2030)
8.1.14.13. Other
8.1.14.14. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Petrochemicals Market, By Manufacturing processes
9.1. Petrochemicals Market, by Manufacturing processes, 2017-2030
9.1.1. Fluid Catalytic Cracking (FCC)
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Steam cracking
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Catalytic reforming
9.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Petrochemicals Market, By Application
10.1. Petrochemicals Market, by Application, 2017-2030
10.1.1. Aerospace
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Agriculture
10.1.2.1. Market Revenue and Forecast (2017-2030)
10.1.3. Automotive
10.1.3.1. Market Revenue and Forecast (2017-2030)
10.1.4. Building & Construction
10.1.4.1. Market Revenue and Forecast (2017-2030)
10.1.5. Consumer & Industrial Goods
10.1.5.1. Market Revenue and Forecast (2017-2030)
10.1.6. Others
10.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Petrochemicals Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue Forecast by Product Type(2017-2030)
11.1.2. Market Revenue Forecast by Manufacturing processes (2017-2030)
11.1.3. Market Revenue Forecast by Application (2017-2030)
11.1.4. U.S
11.1.4.1. Market Revenue Forecast (2017-2030)
11.1.5. Canada
11.1.5.1. Market Revenue Forecast (2017-2030)
11.2. Europe
11.2.1. Market Revenue Forecast by Product Type (2017-2030)
11.2.2. Market Revenue Forecast by Manufacturing processes (2017-2030)
11.2.3. Market Revenue Forecast by Application (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue Forecast (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue Forecast (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue Forecast (2017-2030)
11.2.7. Rest of EU
11.2.7.1. Market Revenue Forecast (2017-2030)
11.3. Asia Pacific (APAC)
11.3.1. Market Revenue Forecast by Product Type (2017-2030)
11.3.2. Market Revenue Forecast by Manufacturing processes (2017-2030)
11.3.3. Market Revenue Forecast by Application (2017-2030)
11.3.4. China
11.3.4.1. Market Revenue Forecast (2017-2030)
11.3.5. India
11.3.5.1. Market Revenue Forecast (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue Forecast (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue Forecast (2017-2030)
11.4. LATAM
11.4.1. Market Revenue Forecast by Product Type (2017-2030)
11.4.2. Market Revenue Forecast by Manufacturing processes (2017-2030)
11.4.3. Market Revenue Forecast by Application (2017-2030)
11.4.4. Brazil
11.4.4.1. Market Revenue Forecast (2017-2030)
11.4.5. Rest of LATAM
11.4.5.1. Market Revenue Forecast (2017-2030)
11.5. Middle East and Africa (MEA)
11.5.1. Market Revenue Forecast by Product Type (2017-2030)
11.5.2. Market Revenue Forecast by Manufacturing processes (2017-2030)
11.5.3. Market Revenue Forecast by Application (2017-2030)
11.5.4. GCC
11.5.4.1. Market Revenue Forecast (2017-2030)
11.5.5. North Africa
11.5.5.1. Market Revenue Forecast (2017-2030)
11.5.6. South Africa
11.5.6.1. Market Revenue Forecast (2017-2030)
11.5.7. Rest of MEA
11.5.7.1. Market Revenue Forecast (2017-2030)
Chapter 12. Company Profiles
12.1. BASF SE
12.1.1. Company Overview, Business Information, Regional Presence
12.1.2. Product Portfolio, Analysis
12.1.2.1. Product Details, Specification, Application
12.1.3. Revenue, Price, and Gross Margin (2017-2020)
12.1.4. Recent Developments and Strategies
12.2. BP Plc.
12.2.1. Company Overview, Business Information, Regional Presence
12.2.2. Product Portfolio, Analysis
12.2.2.1. Product Details, Specification, Application
12.2.3. Revenue, Price, and Gross Margin (2017-2020)
12.2.4. Recent Developments and Strategies
12.3. DuPont de Nemours, Inc.
12.3.1. Company Overview, Business Information, Regional Presence
12.3.2. Product Portfolio, Analysis
12.3.2.1. Product Details, Specification, Application
12.3.3. Revenue, Price, and Gross Margin (2017-2020)
12.3.4. Recent Developments and Strategies
12.4. Total S.A.
12.4.1. Company Overview, Business Information, Regional Presence
12.4.2. Product Portfolio, Analysis
12.4.2.1. Product Details, Specification, Application
12.4.3. Revenue, Price, and Gross Margin (2017-2020)
12.4.4. Recent Developments and Strategies
12.5. Exxon Mobil Corp.
12.5.1. Company Overview, Business Information, Regional Presence
12.5.2. Product Portfolio, Analysis
12.5.2.1. Product Details, Specification, Application
12.5.3. Revenue, Price, and Gross Margin (2017-2020)
12.5.4. Recent Developments and Strategies
12.6. China Petroleum & Chemical Corporation
12.6.1. Company Overview, Business Information, Regional Presence
12.6.2. Product Portfolio, Analysis
12.6.2.1. Product Details, Specification, Application
12.6.3. Revenue, Price, and Gross Margin (2017-2020)
12.6.4. Recent Developments and Strategies
12.7. Saudi Arabian Oil Co.
12.7.1. Company Overview, Business Information, Regional Presence
12.7.2. Product Portfolio, Analysis
12.7.2.1. Product Details, Specification, Application
12.7.3. Revenue, Price, and Gross Margin (2017-2020)
12.7.4. Recent Developments and Strategies
12.8. Sumitomo Chemical Co., Ltd.
12.8.1. Company Overview, Business Information, Regional Presence
12.8.2. Product Portfolio, Analysis
12.8.2.1. Product Details, Specification, Application
12.8.3. Revenue, Price, and Gross Margin (2017-2020)
12.8.4. Recent Developments and Strategies
12.9. Dow
12.9.1. Company Overview, Business Information, Regional Presence
12.9.2. Product Portfolio, Analysis
12.9.2.1. Product Details, Specification, Application
12.9.3. Revenue, Price, and Gross Margin (2017-2020)
12.9.4. Recent Developments and Strategies
12.10. Chevron Phillips Chemical Company
12.10.1. Company Overview, Business Information, Regional Presence
12.10.2. Product Portfolio, Analysis
12.10.2.1. Product Details, Specification, Application
12.10.3. Revenue, Price, and Gross Margin (2017-2020)
12.10.4. Recent Developments and Strategies
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1193
Contact Us:
Precedence Research
Apt 1408 1785 Riverside Drive Ottawa, ON, K1G 3T7, Canada
Call: +1 774 402 6168
Email: sales@precedenceresearch.com
0 Comments