Global Petrochemicals Market: Snapshot

The global petrochemicals market is expected to witness a promising growth in the next few years, especially in developing economies. The rise in the level of competition is projected to enhance the overall competitive scenario of the market in the coming few years.

According to the market research report by Transparency Market Research, the global market for petrochemicals is likely to reach a value of US$885.1 bn by the end of year 2020. The market is likely to register a healthy 6.80% CAGR between 2014 and 2020.

Rising End Use Industries to Drive Global Petrochemicals Market

The increasing demand from a large number of end use industries and the increasing government support, particularly in developing economies are considered as the major factors that are estimated to encourage the growth of the global petrochemicals market in the near future. Moreover, the easy availability of raw materials in the Middle East and Africa is projected to enhance the overall growth of the market in the near future.

On the flip side, a significant rise in the environmental issues is predicted to restrict the growth of the petrochemicals market in the near future. In addition to this, the increasing shift towards the development of the bio-based chemicals is another key factor projected to hamper the growth of the market in the coming years. Nevertheless, the rising use of coal and shale gas as one of the key feedstock for the production of petrochemicals is expected to encourage the growth of the global market in the next few years.

Middle East and Africa to Offer Promising Growth Opportunities

In the last few years, Asia Pacific held a major share of the global petrochemicals market and is estimated to continue its dominance in the coming few years. The increasing contribution from China is one of the key factors estimated to encourage the growth of the market in the near future. In addition to this, the rapid development of the automotive and construction industries, especially in emerging economies are estimated to accelerate the growth of the Asia Pacific market in the coming years. Furthermore, the Middle East and Africa is expected to witness a promising growth in the near future, thanks to the easy availability of petroleum. The companies who are operating in the Middle East and Africa are expected to be benefitted substantially in the next few years.

The global petrochemicals market is considered as a highly fragmented market with a high level of competition among the key players. The increasing technological advancements in this field and the rising research activities are projected to encourage the growth of the global petrochemicals market in the next few years. In addition, the rising mergers and acquisitions and collaborations are further predicted to offer potential growth opportunities for the market players in the next few years. Some of the key players operating in the petrochemicals market across the globe are BASF SE, Shell Chemical Company, E. I. du Pont de Nemours and Company, ExxonMobil, Sinopec Limited, Total S.A., SABIC, Sumitomo Chemical Co. Ltd., The Dow Chemical Company, Chevron Phillips Chemical Company LLC, and LyondellBasell Industries.

Petrochemicals are an essential part of commodities used in daily lives. They are used in various end-use industries, ranging from manufacturing to consumer goods. Petrochemicals are chemical compounds derived from petroleum and other hydrocarbons, which are obtained from crude oil and natural gas. They are primarily used as chemical building blocks for a variety of materials and applications. Rising demand for petrochemicals in major end-use industries coupled with favorable operating conditions, primarily in the Middle East and Asia Pacific, is expected to drive the global market for petrochemicals from 2013 to 2030. Demand for bio-based chemicals is increasing due to growing consumer awareness and benefits associated with their usage. Investment in bio-based chemicals in the public sector (including national laboratories and universities) and commercial sector (including large multinational corporations) is anticipated to increase in the near future. Therefore, this trend is estimated to hamper the petrochemicals market. Additionally, volatility in prices of crude oil & natural gas is likely to inhibit market growth. However, rising shale gas discoveries, primarily in North America (including the U.S. and Canada) is benefitting petrochemical producers, since shale gas is considered a substitute feedstock that is used in the manufacture of petrochemicals. 
 
The report provides analysis and forecast for the global petrochemicals market in terms of volume (million tons) and revenue (US$ Bn) from 2013 to 2020. The study segments the market based on product type into ethylene, propylene, butadiene, benzene, xylene, toluene, vinyls, styrene and methanol. The report further analyzes each product type based on their application and region from 2013 to 2030. The report also includes estimates and forecast of demand for petrochemicals in major geographical regions including North America, Europe, China, Rest of Asia Pacific, the Middle East & Africa, and Latin America. The market size and forecast for each region has been provided for the period from 2013 to 2020 along with the CAGR (%) for the forecast period between 2014 and 2020. All product segments are forecast for the period from 2013 to 2020 in terms of volume (million tons) and revenue (US$ Bn). 
 
The report also comprises a detailed value chain analysis that offers a comprehensive view of value addition at each stage of the value chain. The value chain of petrochemical is significantly integrated, both from the downstream and the upstream perspective. It is dominated by refineries that process raw crude oil, natural gas and coal to manufacture olefins and aromatics through fluid catalytic cracking of petroleum fractions. The study includes Porter’s Five Forces model, which analyzes the existing competition, bargaining power of suppliers, bargaining power of buyers, threat from substitutes, and threat from new entrants. The report includes drivers and restraints affecting the growth of the petrochemicals market, and the impact of these factors on the market in the near future. Additionally, it provides opportunities for the petrochemicals market on the global level during the forecast period. The report also includes market shares of major companies operating in the global petrochemicals market. It also provides market attractiveness of petrochemicals. The market attractiveness analysis is based on various factors such as market size of each product, growth rate during the forecast period, demand for downstream products, and government and environmental regulations. 
 
The report comprises company profiles of major players in the market. These profiles cover parameters such as company overview, product portfolio, financial overview, business strategies, and recent developments. Major players analyzed in the report include BASF SE, ExxonMobil, The 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 de Nemours and Company.
 
This report segments the global petrochemicals market as follows:
  • Petrochemicals Market: Product Segment Analysis
    • Ethylene
      • Polyethylene
      • Ethylene oxide
      • Ethylene dichloride
      • Ethyl benzene
      • Other (Including Alpha olefins and vinyl acetate)
    • Propylene
      • Polypropylene
      • Propylene oxide
      • Acrylonitrile
      • Cumene
      • Acrylic acid
      • Isopropanol
      • Other (Including Polygas chemicals and oxo-chemicals)
    • Butadiene
      • Styrene-butadiene rubber
      • Butadiene rubber
      • Acrylonitrile butadiene styrene
      • Styrene-butadiene latex
      • Other (Including Nitrile rubber and mechanical belts)
    • Benzene
      • Ethyl benzene
      • Cumene
      • Cyclohexane
      • Nitrobenzene
      • Alkyl benzene
      • Other (Including Maleic anhydride)
    • Xylene
    • Toluene
      • Benzene
      • Xylenes
      • Solvents
      • Toluene diisocyanate
      • Other (Including Pesticides, drugs and nitrotoluene)
    • Vinyls
    • Styrene
      • Polystyrene
      • Expandable polystyrene
      • Acrylonitrile butadiene styrene
      • Styrene-butadiene latex
      • Unsaturated polyester resins
      • Styrene-butadiene rubber
      • Other (Including copolymer resins)
    • Methanol
      • Formaldehyde
      • Gasoline
      • Acetic acid
      • Methyl Tertiary Butyl Ether (MTBE)
      • Dimethyl ether
      • Methanol to olefins (MTO)
      • Other (Including biodiesel, solvent and chloromethane)
  • Petrochemicals Market: Regional Analysis
    • North America
    • Europe
    • China
    • Rest of Asia Pacific
    • Middle East & Africa
    • Latin America
.