San Francisco, 1 February 2019: The Report 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 Research Report of Petrochemicals Market@ www.grandviewresearch.com/industry-analysis/petrochemical-market
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 Press Release of
Petrochemicals Market@ www.grandviewresearch.com/press-release/global-petrochemical-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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