Petrochemicals Market Outlook To 2024: In-Depth Market View, Key Product Categories (Ethylene, Propylene, Butadiene, Vinyls, Aromatics, Styrene, Methanol), Regional Segmentation, Top Players & Company Share, Competitive Dynamics, Growth Drivers & Restraints, Mergers & Acquisitions, Pricing Analysis, Segment Forecast And Key Conclusion

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The global Petrochemical market is expected to grow to 948 billion USD by the end of the year 2024 with existing 421 billion USD in 2015. Global demand from ends user industries like automotive, textile, construction, industrial, medical, pharmaceuticals, electronics and consumer goods industries are driving the market towards the increasing trend in the forecast period. Overall expansion of the population and an increase in individual purchasing power have resulted in an increase in demand for finished goods and greater consumption of energy in China, India and Latin America.

 

Global Petrochemical Market 2024

 

Key Product Categories & Technologies

 

Petrochemicals are the chemicals which are derived from Petroleum. Petrochemicals are the important raw materials for many segments in chemical and manufacturing industry. Major products which are leading the market growth are Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Vinyl, and Methanol. Abundant availability of raw materials, especially in the Middle East is adding fuel to the market growth. Shale gas evolution in North America is likely to change the dynamics of the global petrochemicals industry by 2024.

 

Ethylene is dominating the petrochemical market in recent years. It is expected to share about 40% of the market by 2024. Annual production of ethylene is about 15.2 million tons. Ethylene is used as feedstock for industries like packaging, detergents, coatings, adhesives, transportation, electrical/electronic, textile and construction. Some common polymers of ethylene which are widely used are polyethylene (PE), polyethylene terephthalate (PET), polyvinyl chloride (PVC) and polystyrene (PS). The Middle East is scaling up ethylene production in the forecast period.

 

Methanol market is expected to grow at the fastest rate, at a CAGR of 8.35% from 2016 to 2024. This is due to the use of methanol in gasoline blending and its conversion to Olefins. 42% of methanol is converted to formaldehyde and used in the production of plastics,  plywood,paints, explosives and permanent press textiles.

 

Propylene market is expected to reach 250 billion USD by 2024. As per volume, it shares second place after ethylene. The major portion of the propylene market consumed by polypropylene, accounting nearly two-third of global propylene consumption. Propylene is also used to produce acrylonitrile, propylene oxide, alcohols, cumene and acrylic acid.

 

Other petrochemicals such as butadiene, benzene, xylene, toluene, vinyl and styrene accounted for a significant portion of the global petrochemicals market share. The aromatic Solvents Market size was valued over USD 5.5 billion in 2015 and is expected to grow at a CAGR of 3.13 till 2024. Benzene market size was valued more than USD 103 million USD in 2015. Consumption of benzene was the highest in Asia Pacific region. However, the market for benzene is likely to grow at a flat rate in terms of volume from 2016 to 2024.   Butadiene market size is expected to reach 15000-kilo tons by 2019. Vinyl records market to grow at a CAGR of 56.21% during the period 2016-2024.

 

Technology Outlook

 

Technology Companies Air Liquide Global E&C Solutions, Toyo Engineering Corp., KBR Inc., Johnson Matthey and Haldor Topsoe, are continuously developing new technologies which are viable in the market. The Vniios laboratories have performed a great work on the catalytic pyrolysis of hydrocarbons. Asahi has recently announced two catalysts for light hydrocarbon cracking. Technip continues to develop a range of olefin-related technologies. Recent developments include cracking furnace intensification, improved cryogenic schemes with associated equipment advances, anti-fouling quench systems, and a spent caustic pre-treatment/oxidation process for plant optimization. Haldor Topsoe has developed technologies for shale gas based methanol plants.

 

Top Players, Company Share, Competitive Dynamics & M&A Insights

 

Some of the major players are BASF SE, ExxonMobil, Dow Chemical Company, Shell Chemical Company, SABIC, Sinopec Limited, LyondellBasell Industries, Total S.A., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical Company LLC, and E. I. Du Pont.

Expansion in Ethylene production is expected in high rate, Chevron Phillips at Cedar Bayou will increase the production by 1,700. Similarly Dow at Freeport 1,650 and ExxonMobil at Baytown 1,500 thousand metric tons by 2024.

 

Regional Insight

 

North America forecast to start up more than 12.5 million tons of new ethane-based capacity by 2024. Changes to global steam-cracking feed-slate and refining dynamics in North America have created a significant supply gap for global propylene markets. North America will become a major exporter of Methanol by 2018. Iran will play a key role in methanol trade balance, Iran likely restricted to China and India as trade partners. The vinyl market in Europe is high cost and must address the mercury cell issue, slow domestics demand growth may affect the market. India requires increasing imports, China is self-sufficient in PVC production.

With around 50% share in total volume consumption in 2014, Asia Pacific has emerged as leading market for petrochemicals. China emerged as the dominant region accounting for over 25% of the volume in 2015. North America petrochemicals demand is expected to grow at an estimated CAGR of 4.4% from 2016 to 2025.

 

Growth Drivers & Restraints

 

Technological innovations and growing demand for petrochemicals along with favorable operating conditions mainly in the Middle East and Asia-Pacific is expected to drive the global market. However, challenges such as environmental concerns, pollution and global warming concerns are the major restraint for the rapid bounce in the market. Rapidly decreasing crude oil reserves is expected to present a major challenge to the manufacturers. The shift towards the use of bio-based chemicals is expected to suppress the growth of the petrochemical market in future.

 

Conclusions

 

Being one of the largest economical platforms in Chemical Industry, Petrochemicals are showing an increasing trend towards the market demand and growth.  China emerged as the leading consumer and accounted for 28% of global consumption in 2015 with a growth rate of 7% from 2015 to 2024. Middle East emerged as the fastest growing region with an estimated CAGR of 9.7% in terms of revenue from 2016 to 2024.

 

This report provides factors about current markets trends, product category, technologies, and market drivers and M&A. Provides market and technology projections for the upcoming years including the present technology and trends.

 

This report provides comprehensive analysis of,

  • Market growth drivers
  • Top players
  • Product outlook
  • Technology outlook

Regional outlook

  • North America
  • Europe
  • Asia Pacific
  • Middle east, Africa

Product outlook

  • Ethylene
  • Propylene
  • Butadiene
  • Vinyls
  • Aromatics
  • Styrene
  • Methanol

Chapter 1 Methodology and Scope

  • Research Methodology
  • Research Scope & Assumptions
  • List of Data Sources

Chapter 2 Executive Summary

Chapter 3 Petrochemicals Overview

  • Market Ecosystem
  • Key Stakeholders
  • Industry Trends & Analysis

Chapter 4 Petrochemicals Industry Outlook

  • Market Overview
  • Market Segmentation
  • Market Size & Growth Prospects
  • Leading Brand Dynamics
  • Key Market Drivers
    • Growth of end-use industries
    • Rising energy demand in developing regions
    • Increasing capacity additions in Middle East
  • Key Market Challenges/ Restraints
    • Strict environment regulations
  • Key Market Opportunities
    • Shale gas growth in North America
    • Strong development of manufacturing industry
  • Major Trends & Issues
  • Penetration & Growth Prospects
  • Industry Analysis - Porter’s
  • Petrochemicals Market-PESTEL Analysis
  • Technology Landscape

Chapter 5: Petrochemical Market by Product (USD Million)

Petrochemical Market Landscape by Product – 2016 & 2024
  • Ethylene
    • Market Landscape Analysis, 2014-2024
  • Propylene
    • Market Landscape Analysis, 2014-2024
  • Butadiene
    • Market Landscape Analysis, 2014-2024
  • Vinyls
    • Market Landscape Analysis, 2014-2024
  • Aromatics
    • Market Landscape Analysis, 2014-2024
  • Styrene
    • Market Landscape Analysis, 2014-2024
  • Methanol
    • Market Landscape Analysis, 2014-2024

Chapter 6: Pipeline Intelligence

  • Executive Summary
  • Upcoming/ Emerging Products and/or Solutions
  • Updated technological scenario
  • Key R&D Trends
  • M&A Outlook

Chapter 7: Regional Market Outlook

Petrochemicals Market Landscape by Region- 2016
  • North America Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Bn)
    • U.S. Market Landscape Analysis, 2014-2024
    • Canada Market Landscape Analysis-2014-2024
  • Europe Market Landscape Analysis, 2014-2024 Kilo (Tons, USD Bn)
    • UK Market Landscape Analysis, 2014-2024
    • Germany Market Landscape Analysis, 2014-2024
    • France Market Landscape Analysis, 2014-2024
    • Italy Market Landscape Analysis, 2014-2024
    • Spain Market Landscape Analysis, 2014-2024
  • Latin America Market Landscape Analysis, 2014-2024 Kilo (Tons, USD Bn)
    • Brazil Market Landscape Analysis, 2014-2024
    • Mexico Market Landscape Analysis, 2014-2024
    • Colombia Market Landscape Analysis, 2014-2024
  • Asia Pacific Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Bn)
    • Japan Market Landscape Analysis, 2014-2024
    • China Market Landscape Analysis, 2014-2024
    • India Market Landscape Analysis, 2014-2024
  • Middle East & Africa Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Bn)
    • Saudi Arabia Market Landscape Analysis, 2014-2024
    • UAE Market Landscape Analysis, 2014-2024

Chapter 8: Pricing Analysis

Optimal Price Points (OPP), Indifference Price Points (IPP) and Range of Acceptable Prices (RAP) of leading brands and revenue estimation by Region- 2016
  • North America Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
    • U.S. Pricing Analysis-2016
    • Canada Pricing Analysis-2016
  • Europe Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2014)
    • UK Pricing Analysis-2016
    • Germany Pricing Analysis-2016
    • France Pricing Analysis-2016
    • Italy Pricing Analysis-2016
    • Spain Pricing Analysis-2016
  • Latin America Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
    • Brazil Pricing Analysis-2016
    • Mexico Pricing Analysis-2016
    • Colombia Pricing Analysis-2016
  • Asia Pacific Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
    • Japan Pricing Analysis-2016
    • China Pricing Analysis-2016
    • India Pricing Analysis-2016
  • Middle East & Africa Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
    • Saudi Arabia Pricing Analysis-2016
    • UAE Pricing Analysis-2016

Chapter 9: Competitive Landscape

  • BASF SE
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • ExxonMobil
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • The Dow Chemical Company
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Shell Chemical
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • SABIC
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • SINOPEC
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • LyondellBasell Industries
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Total S.A.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Sumitomo Chemical Co. Ltd.
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Chevron Philips Chemical Company
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • E I. DuPont
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • China's National Petroleum Corporation (CNPC)
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
  • Oil and Natural Gas Corporation Limited (ONGC)
    • Company Overview
    • Financial Performance
    • Key Decision Maker
    • Product Pipeline
    • Strategic Initiative
List of Tables
  • TABLE 1 Petrochemicals Market - Industry Snapshot & Key Buying Criteria, 2014 - 2024
  • TABLE 2 Global Petrochemicals Market, 2014 – 2024 (Kilo Tons, USD Billion)
  • TABLE 3 Global Petrochemicals Market by Product, 2014 – 2024 (Kilo Tons, USD Billion)
  • TABLE 4 Petrochemicals Market - Key Market Driver Analysis
  • TABLE 5 Petrochemicals Market - Key Market Restraint/ Challenge Analysis
  • TABLE 6 Petrochemicals Market – Key Opportunity Analysis
  • TABLE 7 North America Petrochemicals Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 8 U.S. Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 9 Canada Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 10 Europe Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 11 U.K Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 12 Germany Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 13 France Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 14 Italy Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 15 Spain Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 16 Latin America Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 17 Brazil Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 18 Mexico Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 19 Colombia Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 20 Asia pacific Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 21 Japan Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 22 China Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 23 India Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 24 Middle East & Africa Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion
  • TABLE 25 Saudi Arabia Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 26 UAE Petrochemicals Market Landscape Analysis, 2014-2024 (Kilo Tons, USD Billion)
  • TABLE 27 North America Pricing Analysis
  • TABLE 28 North America Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 29 U.S. Pricing Analysis-2016
  • TABLE 30 Canada Pricing Analysis-2016
  • TABLE 31 Europe Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 32 U.K Pricing Analysis-2016
  • TABLE 33 Germany Pricing Analysis-2016
  • TABLE 34 France Pricing Analysis-2016
  • TABLE 35 Italy Pricing Analysis-2016
  • TABLE 36 Spain Pricing Analysis-2016
  • TABLE 37 Latin America Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 38 Brazil Pricing Analysis-2016
  • TABLE 39 Mexico Pricing Analysis-2016
  • TABLE 40 Colombia Pricing Analysis-2016
  • TABLE 41 Asia Pacific Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 42 Japan Pricing Analysis-2016
  • TABLE 43 China Pricing Analysis-2016
  • TABLE 44 India Pricing Analysis-2016
  • TABLE 45 Middle East & Africa Pricing Analysis (OPP, IPP, RAP and Volume Estimation- 2016)
  • TABLE 46 Saudi Arabia Pricing Analysis-2016
  • TABLE 47 UAE Pricing Analysis-2016
  List of Figures-
  • 1 Petrochemicals Market Segmentation
  • 2 Market Size & Growth Prospects
  • 3 Leading Brand Dynamics
  • 4 Penetration & Growth Prospects
  • 5 Industry Analysis – Porter’s
  • 6 Petrochemicals Market – PESTEL Analysis
  • 7 Petrochemicals Market Share by Product, 2016 & 2024
  • 8 Petrochemicals Market Share by Region, 2016 & 2024

Key Insights Addressed:  

  • Defining market size from 2014 to 2015.
  • Estimating market growth till 2024 and consequence market forecast.
  • Identifying market drivers, restraints & future opportunities and allowing decision-maker with a range of possible outcomes and the probabilities that will occur for any choice of action.
  • Market segments and regions that will drive or lead market growth.
  • Defining Optimal Price Point (OPP) which will be accepted and recommended by maximum customers.
  • A bird’s-eye view of the competitive landscape and the key market players.
  • Key strategic growth driver adopted by market players. In-depth analysis of their strategies and implication on competition & growth.
  Key Findings:  
  • The global Petrochemical market is expected to grow to 948 billion USD by the end of the year 2024 with existing 421 billion USD in 2015.
  • Abundant availability of raw materials, especially in the Middle East is adding fuel to the market growth. Shale gas evolution in North America is likely to change the dynamics of the global petrochemicals industry by 2024.
  • Consumption of benzene was the highest in Asia Pacific region. However, the market for benzene is likely to grow at a flat rate in terms of volume from 2016 to 2024.
  • Some of the major players are BASF SE, ExxonMobil, Dow Chemical Company, Shell Chemical Company, SABIC, Sinopec Limited, LyondellBasell Industries, Total S.A., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical Company LLC, and E. I. Du Pont.

Ameri Research implies a unique methodology of published information and primary research to bring key insights to customer decision making process. Our analytics model helps us to understand the structured and unstructured information from various sources. Key steps involves in the process are as below-

    1. Analyzing Published Information- Access to large pool of paid and unpaid published information via different sources and analyzing market trend.
    2. Setting Foundation- Input from analysis of secondary sources set our foundation to market analysis and helps in setting the scope for further research. Setting the scope involves Ameri Research proprietary statistical model, discussion with industry leaders, internal brain storming, key discussion pointers from various forums etc.
    3. Need Gap Analysis- Defining the gap between our scope and availability of information.
    4. KOL Panel Discussion- Focused Group Discussion with a structured discussion guide to fine tune the gap and deriving the factors driving/restraining the market trend.
    5. Quantitative Research- Sampling large number of industry players, Education/Research Institutes, Government bodies, NGOs, Individual acclaimed researchers and conducting primary interview with a structured questionnaire.
    6. Data Triangulation- We applies bottom-up demand approach or top-down estimation or a combined approach to triangulate the data points.
    7. Analyst Comment- Each of our analyst carry large pool of experience from domain perspective and add their value which are directional in nature
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Description

The global Petrochemical market is expected to grow to 948 billion USD by the end of the year 2024 with existing 421 billion USD in 2015. Global demand from ends user industries like automotive, textile, construction, industrial, medical, pharmaceuticals, electronics and consumer goods industries are driving the market towards the increasing trend in the forecast period. Overall expansion of the population and an increase in individual purchasing power have resulted in an increase in demand for finished goods and greater consumption of energy in China, India and Latin America.

 

Global Petrochemical Market 2024

 

Key Product Categories & Technologies

 

Petrochemicals are the chemicals which are derived from Petroleum. Petrochemicals are the important raw materials for many segments in chemical and manufacturing industry. Major products which are leading the market growth are Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Vinyl, and Methanol. Abundant availability of raw materials, especially in the Middle East is adding fuel to the market growth. Shale gas evolution in North America is likely to change the dynamics of the global petrochemicals industry by 2024.

 

Ethylene is dominating the petrochemical market in recent years. It is expected to share about 40% of the market by 2024. Annual production of ethylene is about 15.2 million tons. Ethylene is used as feedstock for industries like packaging, detergents, coatings, adhesives, transportation, electrical/electronic, textile and construction. Some common polymers of ethylene which are widely used are polyethylene (PE), polyethylene terephthalate (PET), polyvinyl chloride (PVC) and polystyrene (PS). The Middle East is scaling up ethylene production in the forecast period.

 

Methanol market is expected to grow at the fastest rate, at a CAGR of 8.35% from 2016 to 2024. This is due to the use of methanol in gasoline blending and its conversion to Olefins. 42% of methanol is converted to formaldehyde and used in the production of plastics,  plywood,paints, explosives and permanent press textiles.

 

Propylene market is expected to reach 250 billion USD by 2024. As per volume, it shares second place after ethylene. The major portion of the propylene market consumed by polypropylene, accounting nearly two-third of global propylene consumption. Propylene is also used to produce acrylonitrile, propylene oxide, alcohols, cumene and acrylic acid.

 

Other petrochemicals such as butadiene, benzene, xylene, toluene, vinyl and styrene accounted for a significant portion of the global petrochemicals market share. The aromatic Solvents Market size was valued over USD 5.5 billion in 2015 and is expected to grow at a CAGR of 3.13 till 2024. Benzene market size was valued more than USD 103 million USD in 2015. Consumption of benzene was the highest in Asia Pacific region. However, the market for benzene is likely to grow at a flat rate in terms of volume from 2016 to 2024.   Butadiene market size is expected to reach 15000-kilo tons by 2019. Vinyl records market to grow at a CAGR of 56.21% during the period 2016-2024.

 

Technology Outlook

 

Technology Companies Air Liquide Global E&C Solutions, Toyo Engineering Corp., KBR Inc., Johnson Matthey and Haldor Topsoe, are continuously developing new technologies which are viable in the market. The Vniios laboratories have performed a great work on the catalytic pyrolysis of hydrocarbons. Asahi has recently announced two catalysts for light hydrocarbon cracking. Technip continues to develop a range of olefin-related technologies. Recent developments include cracking furnace intensification, improved cryogenic schemes with associated equipment advances, anti-fouling quench systems, and a spent caustic pre-treatment/oxidation process for plant optimization. Haldor Topsoe has developed technologies for shale gas based methanol plants.

 

Top Players, Company Share, Competitive Dynamics & M&A Insights

 

Some of the major players are BASF SE, ExxonMobil, Dow Chemical Company, Shell Chemical Company, SABIC, Sinopec Limited, LyondellBasell Industries, Total S.A., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical Company LLC, and E. I. Du Pont.

Expansion in Ethylene production is expected in high rate, Chevron Phillips at Cedar Bayou will increase the production by 1,700. Similarly Dow at Freeport 1,650 and ExxonMobil at Baytown 1,500 thousand metric tons by 2024.

 

Regional Insight

 

North America forecast to start up more than 12.5 million tons of new ethane-based capacity by 2024. Changes to global steam-cracking feed-slate and refining dynamics in North America have created a significant supply gap for global propylene markets. North America will become a major exporter of Methanol by 2018. Iran will play a key role in methanol trade balance, Iran likely restricted to China and India as trade partners. The vinyl market in Europe is high cost and must address the mercury cell issue, slow domestics demand growth may affect the market. India requires increasing imports, China is self-sufficient in PVC production.

With around 50% share in total volume consumption in 2014, Asia Pacific has emerged as leading market for petrochemicals. China emerged as the dominant region accounting for over 25% of the volume in 2015. North America petrochemicals demand is expected to grow at an estimated CAGR of 4.4% from 2016 to 2025.

 

Growth Drivers & Restraints

 

Technological innovations and growing demand for petrochemicals along with favorable operating conditions mainly in the Middle East and Asia-Pacific is expected to drive the global market. However, challenges such as environmental concerns, pollution and global warming concerns are the major restraint for the rapid bounce in the market. Rapidly decreasing crude oil reserves is expected to present a major challenge to the manufacturers. The shift towards the use of bio-based chemicals is expected to suppress the growth of the petrochemical market in future.

 

Conclusions

 

Being one of the largest economical platforms in Chemical Industry, Petrochemicals are showing an increasing trend towards the market demand and growth.  China emerged as the leading consumer and accounted for 28% of global consumption in 2015 with a growth rate of 7% from 2015 to 2024. Middle East emerged as the fastest growing region with an estimated CAGR of 9.7% in terms of revenue from 2016 to 2024.

 

This report provides factors about current markets trends, product category, technologies, and market drivers and M&A. Provides market and technology projections for the upcoming years including the present technology and trends.

 

This report provides comprehensive analysis of,

  • Market growth drivers
  • Top players
  • Product outlook
  • Technology outlook

Regional outlook

  • North America
  • Europe
  • Asia Pacific
  • Middle east, Africa

Product outlook

  • Ethylene
  • Propylene
  • Butadiene
  • Vinyls
  • Aromatics
  • Styrene
  • Methanol

Additional information

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