• – Ethylene is set to be a significant segment of the market, contributing notably to its growth
  • – CAGR of the market over the forecast period would be more than 4%, to cross a valuation of USD 7 trillion
  • – APAC will hold a sizeable share of the market both in terms of volume and value

Transparency Market Research, New York:

Over the forecast period of 2019 to 2027, the global petrochemicals market will grow at a moderate but steady rate of about 4% in terms of value. This will translate to a higher market worth and emergence of lucrative opportunities, ready to be tapped into.

As per Transparency Market Research, “China and Middle East will play a key role in shaping the market’s growth trajectory over the stated forecast period. Another factor that will contribute significantly, impacting the economics of the market is integration of fuels and chemicals production. In fact, it is quite interesting to note that as far as investments in Chinese projects are concerned – about 60% is in integrated capacity.”

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Key Findings of Global Petrochemicals Market Study:

  • – On the basis of product, Ethylene is a notable segment, set to witness significant growth in demand over the forecast period
  • – Ethylene oxide and Polyethylene accounted for a notable share of the segment in 2018 and will continue being crucial for it over the forecast period
  • – Demand for propylene is growing and this is set to drive global petrochemicals market on a higher growth trajectory
  • – Notable growth in demand for C4 chemicals will be observed and this will contribute to market growth

 

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Key Drivers of Growth in Global Petrochemicals Market:

Over the forecast period mentioned earlier, the global petrochemicals market will grow at a steady pace owing to numerous trends and drivers marking it landscape, influencing growth in a positive manner. These have been identified by Transparency Market Research and enumerated in the market report prepared by it. A glimpse into these growth factors is provided below:

  • – Players in the global petrochemicals market are diversifying portfolio by moving towards specialties such as engineering elastomers and plastics
  • – New strategies and opportunities are being eyed by market players to improve profits margins and manage oil price volatility
  • – Demand for aromatics such as benzene, toluene and xylene is anticipated to grow over the forecast period
  • – From 2019 to 2027, it is expected that demand for propylene will grow at a – compound annual growth rate of about 5%

 

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Regional Analysis of Global Petrochemicals Market:

  • – The Asia Pacific (APAC) region will continue holding a sizeable share of the global petrochemicals market over the forecast period
  • – China will witness high demand though trade dispute with the United States of America is leading to uncertainties
  • – Saudi Arabia is aiming at diversifying economy to minimize reliance on oil, promising new opportunities for investment in domestic petrochemicals business

 

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Competitive Landscape of Global Petrochemicals Market:

Global petrochemicals market is highly fragmented and prominent players in the market are BASF SE, Shell Chemical Company, DuPont, Total S.A., ExxonMobil, Sinopec Limited, Saudi Arabian Oil Co., Sumitomo Chemical Co. Ltd., Dow Inc., Chevron Phillips Chemical Company LLC, and LyondellBasell Industries, among others.

Transparency Market Research has covered these players comprehensively in its market report. It notes that players will enter into partnerships with other players to improve reach and to claim larger market share over the forecast period. Such measures will increase the degree of competitiveness in the market.

Market Segmentation:

By Product Type:

  • – Ethylene
  • – Propylene
  • – Butadiene
  • – Benzene
  • – Xylene
  • – Toluene
  • – Vinyls
  • – Styrene
  • – Methanol

By Region:

  • – North America
  • – Europe
  • – China
  • – Rest of Asia
  • – Latin America
  • – Middle East and Africa

 

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About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

 

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