Dublin, Jan. 14, 2022 (GLOBE NEWSWIRE) -- The "Petrochemicals Market Size, Share & Trends Analysis Report By Product (Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Methanol), By Region (North America, Europe, APAC, Latin America), And Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global petrochemicals market size is estimated to reach USD 860.8 billion by 2028. The market is expected to expand at a CAGR of 6.4% from 2021 to 2028.
The market is largely driven by rising demand for downstream specialty chemicals and plastic manufacturing. The market is expected to witness steady growth over the forecast period owing to increasing demand from end-use industries such as construction, industrial, textile, medical, pharmaceuticals, consumer good automotive, and electronics.
Crude oil and natural gas are the major raw materials used for the manufacturing of petrochemical products. The volatile prices of crude oil are a major challenge in the procurement process of crude oil as a raw material for product manufacturers. The industry players that are reliant on crude oil as a feedstock for manufacturing are likely to face difficulties in the coming years.
The competitive rivalry among producers of petrochemicals is high as the market is characterized by the presence of a large number of global players with strong distribution networks. Top players have been dominating the industry for the past few years owing to increasing investments in R&D activities related to new product development and manufacturing processes.
Asia Pacific was the dominating region in 2020 and is predicted to witness the highest CAGR over the forecast period. Factors such as increasing crude oil refining capacity, growing population, and improving standard of living of the masses are expected to fuel the growth of the market in Asia Pacific in the coming years.
Petrochemicals Market Report Highlights
- In 2020, ethylene emerged as the dominant product segment by contributing over 40.7% revenue share as it is majorly utilized for the formulation of various derivatives such as ethylene oxide, polyethylene, Ethylene Dichloride (EDC), ethylbenzene, and styrene
- Polyethylene was the major application of ethylene product amounting for 64.1% of the revenue share. The consumption of polyethylene is driven by the rising demand for High-density Polyethylene (HDPE) for blow molding across the globe
- Butadiene was the second-largest product segment in 2020 and is expected to witness a CAGR of 5.9% in the coming years as it is a key building block used in the manufacturing of several chemicals and materials employed in industries such as consumer durables, healthcare, and building and construction
- Asia Pacific was the dominating region both in terms of revenue and volume owing to increasing demand for petrochemicals from various end-use industries including transportation, packaging, and construction
Key Topics Covered:
Chapter 1 Methodology and Scope
1.1 Information procurement
1.1.1 Purchased database
1.1.2 Internal database
1.1.3 Secondary sources & third-party perspectives
1.2 Information analysis
1.2.1 Data analysis model
1.3 Market formulation & data visualization
1.4 Data validation & publishing
1.4.1 Research scope and assumptions
Chapter 2 Executive Summary
2.1 Petrochemicals market outlook
Chapter 3 Petrochemicals Market Variables, Trends & Scope
3.1 Market segmentation
3.2 Market lineage outlook
3.2.1 Global petroleum market outlook
3.2.2 Global End-use Market Outlook
3.3 Petrochemicals market size & growth prospects, 2017 - 2028
3.4 Value chain analysis
3.4.1 Raw material outlook
3.4.1.1 Major raw material analysis
3.4.1.2 Procurement best practices
3.4.2 Manufacturing trends
3.4.2.1 Technology trends
3.4.2.2 Outsourcing and contract manufacturing trends
3.4.2.3 Cost-structure analysis
3.4.3 Sales channel analysis
3.4.4 Profit margin analysis
3.5 Regulatory framework
3.5.1 Product classification codes
3.5.2 Standard and compliance
3.5.3 Safety
3.6 Market dynamics
3.6.1 Market driver impact analysis
3.6.1.1 End-use industries growth in Asia Pacific
3.6.1.2 Favorable regulatory policies in Asia Pacific
3.6.1.3 Abundant raw material availability in Middle East
3.6.2 Market restraint impact analysis
3.6.2.1 Growing environmental concerns
3.7 Industry challenges
3.7.1 Volatility in the raw material prices
3.8 Business environment analysis
3.8.1 Porter's Analysis
3.8.1.1 Threat of new entrants
3.8.1.2 Bargaining power of buyers
3.8.1.3 Threat of substitutes
3.8.1.4 Bargaining power of suppliers
3.8.1.5 Industry rivalry
3.8.2 PESTEL analysis
3.8.3 Market entry strategies
3.8.3.1 Product strategy
3.8.3.1.1 Technical innovation strategy
3.8.3.1.2 Product adaptation strategy
3.8.3.2 Entry mode
3.8.3.2.1 Direct export
3.8.3.2.2 Merger and acquisition
Chapter 4 Petrochemicals Market: Product Estimates & Trend Analysis
4.1 Market introduction, 2020 & 2028
4.2 Market size & forecasts and trend analysis, by product, 2017 - 2028 (Million Tons) (USD Billion)
4.2.1 Ethylene
4.2.1.1 Market size & forecasts and trend analysis, in ethylene, 2017 - 2028 (Million Tons) (USD Billion)
4.2.2 Propylene
4.2.2.1 Market size & forecasts and trend analysis, in propylene, 2017 - 2028 (Million Tons) (USD Billion)
4.2.3 Butadiene
4.2.3.1 Market size & forecasts and trend analysis, in butadiene, 2017 - 2028 (Million Tons) (USD Billion)
4.2.4 Benzene
4.2.4.1 Market size & forecasts and trend analysis, in benzene, 2017 - 2028 (Million Tons) (USD Billion)
4.2.5 Xylene
4.2.5.1 Market size & forecasts and trend analysis, in xylene, 2017 - 2028 (Million Tons) (USD Billion)
4.2.6 Toluene
4.2.6.1 Market size & forecasts and trend analysis, in toluene, 2017 - 2028 (Million Tons) (USD Billion)
4.2.7 Methanol
4.2.7.1 Market size & forecasts and trend analysis, in methanol, 2017 - 2028 (Million Tons) (USD Billion)
Chapter 5 Petrochemicals Market: Regional Estimates & Trend Analysis
Chapter 6 Petrochemicals Market: Competitive Analysis
6.1 Key company/competition categorization (Key Innovators, Market Leaders, Emerging Players)
6.2 Vendor landscape
6.3 Competitive dashboard analysis
6.3.1 Market Differentiators
6.3.2 Synergy analysis: major deals & strategic alliances
6.4 Geographical presence
6.5 Market share analysis
6.6 Supplier landscape
Chapter 7 Petrochemicals Market: Company Profiles
7.1 BASF SE
7.1.1 Company overview
7.1.2 Financial performance
7.1.3 Industries and services catered
7.1.4 Product benchmarking
7.1.5 Strategic initiatives
7.2 Chevron Corporation
7.2.1 Company overview
7.2.2 Financial performance
7.2.3 Industries and services catered
7.2.4 Product benchmarking
7.2.5 Strategic initiatives
7.3 China National Petroleum Corporation (CNPC)
7.3.1 Company overview
7.3.2 Financial Performance
7.3.3 Industries and services catered
7.3.4 Product benchmarking
7.3.5 Strategic initiatives
7.4 China Petrochemical Corporation (SINOPEC)
7.4.1 Company overview
7.4.2 Financial performance
7.4.3 Industries and services catered
7.4.4 Product benchmarking
7.4.5 Strategic initiatives
7.5 ExxonMobil Corporation
7.5.1 Company overview
7.5.2 Financial performance
7.5.3 Industries and services catered
7.5.4 Product benchmarking
7.5.5 Strategic initiatives
7.6 INEOS Group Ltd.
7.6.1 Company overview
7.6.2 Financial performance
7.6.3 Industries and services catered
7.6.4 Product benchmarking
7.6.5 Strategic initiatives
7.7 LyondellBasell Industries Holdings B.V.
7.7.1 Company overview
7.7.2 Financial performance
7.7.3 industries and services catered
7.7.4 Product benchmarking
7.7.5 Strategic initiatives
7.8 Royal Dutch Shell PLC
7.8.1 Company overview
7.8.2 Financial performance
7.8.3 Industries and services catered
7.8.4 Product benchmarking
7.8.5 Strategic initiatives
7.9 SABIC
7.9.1 Company overview
7.9.2 Financial performance
7.9.3 Industries and services catered
7.9.4 Product benchmarking
7.9.5 Strategic initiatives
7.10 Dow
7.10.1 Company overview
7.10.2 Financial performance
7.10.3 Industries and services catered
7.10.4 Product benchmarking
For more information about this report visit https://www.researchandmarkets.com/r/6ns6mv
