Transparency Market Research (TMR) has announced the
release of a new market study on the global petrochemicals market.
The report examines the historical trajectory of the market up to
2013 and presents forecasts for the market’s development from 2014
to 2020. According to the report, the global petrochemicals market is
expected to exhibit a steady 6.8% CAGR from 2014 to 2020. The market
will reach a valuation of US$885.1 bn by the end of the forecast
period.The report is titled ‘Petrochemicals Market - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 -
2020’ and is available for sale on the official website of TMR.
This 112 page report gives readers a comprehensive
overview of the Petrochemicals market. Browse through 37 data tables
and 23 figures to unlock the hidden opportunities in this market @
Petrochemicals, as the name suggests, are a wide
range of chemicals derived from petroleum feedstock. The global
market for petrochemicals is a crucial part of the chemicals industry
and has significant impact on various walks of human life, as
ubiquitous materials such as plastics are derived from
petrochemicals. Due to the rising demand for its various end-use
segments, the global petrochemicals market is expected to exhibit
steady growth in the coming years.
The major product segments of the global
petrochemicals market are ethylene, propylene, methanol, butadiene,
xylene, benzene, styrene, vinyls, and toluene. Of these, ethylene was
the major product type in the market in 2013. Ethylene’s use in the
manufacture of polyethylene – which, as the name suggests, consists
of multiple polymers of ethylene – is a major driver for the global
petrochemicals market.
The rising use of methanol in fuel mixtures has also
provided a boost to the global petrochemicals market.
Adding methanol allows for cleaner combustion of
fuels, reducing the environmental damage caused by the combustion.
According to TMR, methanol is expected to be the fastest growing
product segment of the global petrochemicals market in the forecast
period. The demand for styrene and butadiene is also expected to rise
in the coming years, thanks to their growing application in styrene
butadiene rubber and the rising demand for butadiene for the
production of acrylonitrile butadiene styrene.
On the basis of geography, China emerged as the
largest segment of the global market in 2013. China accounted for 25%
of the demand from the global petrochemicals market, thanks in part
to the country’s booming automotive and construction industries.
China is also anticipated to remain in a dominant position in the
global petrochemicals market in the coming years and is expected to
be the fastest growing segment of the market in the forecast period.
The rest of Asia Pacific followed China in the
regional hierarchy of the global petrochemicals market in 2013. India
is the leader in the rest of Asia Pacific, with the increasing demand
for products containing petrochemicals and the country’s
flourishing manufacturing sector expected to propel the regional
market for petrochemicals.
The Middle East and Africa also have an important
role to play in the future of the global petrochemicals market. These
two regions contain some of the largest petroleum producers in the
world, with the easy availability of petroleum allowing petrochemical
companies in the region to post strong growth figures.
Get accurate market forecast and analysis on the
Petrochemicals market. Request a sample to stay abreast on the key
trends impacting this market@
In competitive terms, the global petrochemicals
market is highly fragmented and marked by constant efforts on the
part of multinational giants to acquire smaller regional companies.
Key players in the global petrochemicals market are BASF SE, Shell
Chemical Company, Total S.A., E. I. du Pont de Nemours and Company,
Sumitomo Chemical Co. Ltd., ExxonMobil, Sinopec Ltd., The Dow
Chemical Company, SABIC, LyondellBasell Industries, and Chevron
Phillips Chemical Company LLC.
The global petrochemicals market is segmented as
follows:
Petrochemicals Market: Product Segment Analysis
- Ethylene
- Propylene
- Butadiene
- Benzene
- Xylene
- Toluene
- Vinyls
- Styrene
- Methanol
Petrochemicals Market: Regional Analysis
- North America
- Europe
- China
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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