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Petrochemicals Market is expected to witness significant growth with a CAGR of ~6.7% over the forecast period of 2017-2023 and reach USD 1075.19 billion by 2023
Sep 18, 2017 (AB Digital via COMTEX) --

Synopsis of Petrochemical Market:

Petrochemicals are basically Petroleum products derived from hydrocarbons. Some other chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal, or natural gas, or renewable sources such as corn or sugar cane. Petrochemical is mainly classified into two type’s olefins (including ethylene and propylene) and aromatics (including benzene, toluene and xylene isomers). Both of these are produced in oil refineries by fluid catalytic cracking of petroleum fraction. Olefins produced by steam cracking of natural gas liquid such as ethane and propane, whereas aromatics are produced by catalytic reforming of naphtha.

Petrochemicals are used in various end user industries ranging from manufacturing to consumer goods. However, they are most commonly used in adhesives, polymers, paints and coatings, dyes, surfactants. The Global Petrochemical Market is expected to be driven by rising demand for petrochemicals in major end-user industries linked with favorable operating conditions, especially in the Middle East and Asia Pacific over the forecast period. Moreover, Demand for bio-based chemicals is increasing due to growing consumer awareness as we all benefits associated with their usage. Consequently, investment in bio based chemicals in public and private sector likely to increase in near future and will hamper the growth of Petrochemical Market globally.

Key Players:

Segmentation:

On the basis of application market segmented into adhesives, polymers, paints and coatings, dyes, surfactants, rubber, plastics, and solvents. Based on the regions market is segmented into North America, APAC, Europe, Latin America and Middle East and Africa.

The report about Global Petrochemicals Market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report further provides detail information about strategies used by top key players in the industry. It also gives a broad study about different market segments and regions.

Key Points from Table of Content:

12.1    BASF SE

12.3    The Dow Chemical Company

12.4   Shell Chemical Company

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 Components, Application, Logistics 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.



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