This report added by Market Study Report, LLC, focuses on factors influencing the present scenario of the ‘Petrochemicals market’. The research report also offers concise analysis referring to commercialization aspects, profit estimation and market size of the industry. In addition, the report highlights the competitive standing of major players in the projection timeline which also includes their portfolios and expansion endeavors.
The well-known companies profiled in the report include include Royal Dutch Shell PLC, BASF SE, British Petroleum, The DOW Chemical Company, China National Petroluem Corporation, Chevron Corporation, ExxonMobil Corporation, LyondellBasell Industries Inc., INEOS Group Ltd., E. I. Dupont De Nemours & Company, Sabic, and Sinopec Ltd among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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Petrochemicals are used in a wide range of applications in medical and healthcare sector. Phenol and Cumene are used for creation of a substance used for manufacturing of penicillin and aspirin. Petrochemical resins are used in drug purification, drug manufacturing for treatment of AIDS, cancer, and arthritis, development of artificial skin and limbs, and manufacturing of medical equipment such as bottles, and disposable syringes among others. In the food industry petrochemicals are used in manufacturing of food preservatives, chocolates and candies, and food coloring among others.
According to a new report the petrochemicals market is anticipated to reach over USD 1,203.2 billion by 2026. In 2017, the ethylene segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.
A significant growth in industries such as healthcare, automobile, construction, food and beverages, along with government initiatives and funding is expected to support the growth of this market. Other driving factors include abundance of raw materials in Middle East and favorable regulatory policies in Asia-Pacific. However, increasing environmental concerns, growing demand for bio-based chemicals, and price volatility of crude oil and natural gas are expected to restrict the growth of the market. Increasing demand from developing nations, and technological advancements are expected provide numerous growth opportunities to the market players during the forecast period.
The increasing demand of methanol for gasoline blending, and MTO (methanol to olefins) processes is expected to support its adoption in the coming years.
Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The high economic growth in the region, growth in automotive and construction industries, and rising standards of living are expected to drive the market growth. Increasing disposable incomes in developing countries of this region, increasing applications of petrochemicals, and competitive manufacturing costs are further expected to support market growth. Rapid urbanization, and rising shale gas explorations in the region are expected to further provide growth opportunities during the forecast period.
Petrochemicals Market share by Major regions included:
Middle East & Africa
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Table of Contents
1.Overview and Scope
1.1.Research goal & scope
1.3.1.Primary data sources
1.3.2.Secondary data sources
3.Petrochemicals Market Insights
3.1.Petrochemicals – Industry snapshot
3.2.Petrochemicals – Ecosystem analysis
3.3.Petrochemicals Market Dynamics
3.3.1.Petrochemicals – Market Forces
18.104.22.168.Petrochemicals Market Driver Analysis
22.214.171.124.Petrochemicals Market Restraint/Challenges analysis
126.96.36.199.Petrochemicals Market Opportunity Analysis
3.3.2.Industry analysis – Porter’s five force
188.8.131.52.Bargaining power of supplier
184.108.40.206.Bargaining power of buyer
220.127.116.11.Threat of substitute
18.104.22.168.Threat of new entrant
22.214.171.124.Degree of competition
3.3.3.Petrochemicals Market PEST Analysis, 2017
3.3.4.Petrochemicals Market Value Chain Analysis
3.3.5.Petrochemicals Industry Trends
3.3.6.Competitive Ranking Analysis
4.Petrochemicals Market Size and Forecast, 2017-2026 by Product Type
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