San Francisco, 28 January,
Petrochemicals Market Analysis By Product (Ethylene, Propylene, Butadiene,
Benzene, Xylene, Toluene, Vinyls, Styrene, Methanol) By Region (North America,
Europe, China, Middle East, Africa, Latin America) And Segment Forecasts, 2018
– 2025
The global petrochemicals market is expected to reach USD
958.8 billion by 2025, according to a new report by Grand View Research, Inc.
Increasing shale gas exploration coupled with abundant availability of cheap
indigenous crude oil in Middle East & Africa is projected to drive demand.
Increasing demand for petrochemical
products from end-use industries such as automotive, construction, textile,
electronics, and pharmaceutical is expected to foster consumption. Government
support and favorable policies in Asia Pacific countries such as China and India
are anticipated to promote industry growth.
Infrastructure development coupled with
transportation industry growth in BRICS nation is likely to propel demand.New
capacity additions in Middle Eastern countries such as UAE and Saudi Arabia
along with low feedstock prices is expected to positively impact supply demand
scenario.
Advent of technologies such as fluid
catalytic cracking and residuum crackingis anticipated to promote the usage of
bio-based raw materials. Commercialization of renewable sources such as corn
and lignin is projected to capture market share and adversely impact industry
growth.
Ethylene was the dominant product segment
and accounted for over 25% of the overall revenue in 2015. Increasing use of
polyethylene in the packaging industry is projected to drive demand for
ethylene.
Access Full Research Report On Petrochemicals Analysis:
Further key findings from the report suggest:
·
The global petrochemicals
market was estimated at over 512.8 million tons in 2015 and is projected to
reach 861.9 million tons by 2025
·
Middle East emerged as the
fastest growing region with an estimated CAGR of 9.9% in terms of revenue from
2016 to 2025. Increasing construction sending in countries such as UAE and
Qatar is anticipated to augment growth
·
Methanol is estimated to grow
at a CAGR of 8.3% from 2016 to 2025.Methanol is widely used as a direct fuel
for automobile engines due to superior properties such as volatile, colorless,
and flammable
·
Major companies operating in
the industry include BASF SE, BP PLC, Chevron Corp., CNPC, Sinopec, DuPont,
ExxonMobil Corp., INEOS Group Ltd., LyondellBasell Industries Inc., Royal Dutch
Shell PLC, SABIC and Dow Chemical Company
·
BASF has announced plans for
large scale methane to propylene (MTP) plant in the U.S. Gulf Coast with an
annual production capacity of 475,000 metric tons
Browse More Reports Of This Category By Grand View
Research At: www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the petrochemicals
market on the basis product and region:
Global petrochemicals outlook by product (Volume, Million
Tons; Revenue, USD Billion; 2014 - 2025)
·
Ethylene
·
Propylene
·
Butadiene
·
Benzene
·
Xylene
·
Toluene
·
Vinyls
·
Styrene
·
Methanol
Petrochemicals outlook by region (Volume, Million Tons;
Revenue, USD Billion; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Rest of Asia
·
Middle East
·
Africa
·
Latin America
Access Full Press Release of this Report: www.grandviewresearch.com/press-release/global-petrochemical-market
About Grand View Research
Grand View Research provides
syndicated as well as customized research reports and consulting services on 46
industries across 25 major countries worldwide. This U.S.-based market research
and consulting company is registered in California and headquartered in San
Francisco. Comprising over 425 analysts and consultants, the company adds 1200+
market research reports to its extensive database each year. Supported by an
interactive market intelligence platform, the team at Grand View Research
guides Fortune 500 companies and prominent academic institutes in comprehending
the global and regional business environment and carefully identifying future
opportunities.
For more information: www.grandviewresearch.com/
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