Press Release / Business / Petrochemicals Market Share Report, Growth Trends, Features, Industry Size, Key Players and Analysis by 2023

Petrochemicals Market Share Report, Growth Trends, Features, Industry Size, Key Players and Analysis by 2023

Petrochemicals Market Key Players:
Petrochemicals Market are BASF SE, ExxonMobil Corporation, The Dow Chemical Company, Shell Chemical Company, SABIC, Sinopec Limited, Lyondell Basell Industries, Total S.A., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical Company LLC and E. I. du Pont de Nemours and Company.
Get Sample Copy of This Report Now @ https://www.marketresearchfuture.com/sample_request/3164
Petrochemicals Market Segment Analysis:
Petrochemicals Market is majorly segmented on the basis of products, application and region. On the basis of product, market has been divided into Methanol, benzene, xylene, toluene, ethylene, propylene, butadiene, vinyl styrene. As of 2015, Ethylene was the most dominant product segment and accounted for around 30% overall volume. Owing to low cost ethane availability from shale gas in the U.S. has made this product segment dominant.
In terms of value, propylene dominated the market and accounted to bench mark in Billion in 2015. Owing to use in production of verity of chemicals including propylene oxide, acrylonitrile, cumene, butyraldehyde and acrylic acid have made propylene dominant segment in terms of revenue. Furthermore, Methanol product segment projected to be the fastest growing segment over the forecast period of 2018 to 2023. As growth of methanol is directly related to its increasing usage in gasoline blending and methanol to olefins processes.
Petrochemicals Market Regional Analysis:
Asia Pacific is the dominating market for petrochemicals and accounted for over 50% of market shares in terms of volume followed by North America and Europe in 2015. China and India collectively led the APAC petrochemical market and will contribute majorly in the dominance of this region throughout forecast period. Favorable government regulations in China as well other counties across APAC likely to encourage growth in this market. Owing to increasing urbanization coupled with rapid industrialization has made china leading contributor in the growth of APAC market by accounting 25% regional shares in terms of volume. In addition, increasing demand from countries such as, Indonesia, Thailand, and Vietnam are anticipated to boost consumption in Rest of Asia Pacific market. India expected to register progressive growth over the forecast period. This is due to initiatives such as PCPIR (Petroleum, Chemical and Petrochemicals Investment Region) by Indian government to promote petrochemical infrastructure in the country giving subsidies.
North America is the strong region in global petrochemicals market and holds second position including countries such as U.S. and Canada. Growth in this region is highly attributed to the shale gas exploration activities in U.S. and Canada. Both of the countries collectively accounted for 90% of the shale gas production and led the North American petrochemicals market. Also, development of shale gas provides an advantage to substitute conventional feedstock such as crude oil and natural gas for producing various petrochemicals in order to reduce degree of dependency.
Petrochemical Market Competitive Analysis:
Petrochemicals Market appears to be highly fragmented and competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. Key feedstock suppliers have integrated their operations forward to produce petrochemicals via extraction and refining of crude oil.
Emerging manufacturing processes have resulted in raw material replacement, shifts in the ratio of coproduces, and cost. Which has resulted in to a supply/demand imbalance, particularly for smaller downstream petrochemical derivatives. Also, growing environmental concerns and higher crude oil prices have expedited the development and commercialization of renewably derived chemical products and technologies previously considered economically impractical.
Petrochemicals Market Overview:
Petrochemicals Market is expected to witness significant growth with a CAGR of 6.7% over the forecast period to 2023 and reach USD 1075.19 Billion Dollar.
Each and every segment type and their sub types are well elaborated to give a better idea about this market during the forecast period of 2018 to 2023 respectively.
Petrochemicals Market Table of Content to be Continue……,
Read Comprehensive Overview of Report @ https://www.marketresearchfuture.com/reports/petrochemical-market-3164
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com