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Petrochemicals Market Present Scenario and Growth Prospects 2018-2025

Increasing shale gas exploration coupled with abundant availability of cheap indigenous crude oil in Middle East & Africa is projected to drive demand. 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 demand for petrochemical products from end-use industries such as automotive, construction, textile, electronics, and pharmaceutical is expected to foster consumption. Government support and favourable 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 cracking is 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.

To Know More About Petrochemicals Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/petrochemical-market

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.

Top Players of Petrochemicals Market:

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.

Market Segmentation of Petrochemicals Market:

The Global Petrochemicals Market segmented on the basis Product and Region.

By Products:

    Ethylene
    Propylene
    Butadiene
    Benzene
    Xylene
    Toluene
    Vinyls
    Styrene
    Methanol

By Region:

    North America
    Europe
    Asia Pacific
    Rest of Asia
    Middle East
    Africa
    Latin America

Inquire about Petrochemicals Market with Our Experts @ https://www.grandviewresearch.com/inquiry/2537
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