Global Petroleum Liquid Feedstock Market: Overview
The global petroleum liquid feedstock market is likely to be fuelled by increased demand for the product itself from a wide range of industries. The economic stability of a nation is often exhibited through the growth of petrochemical industry and other products that are related to the industry like clothing, fertilizers, tires, detergents, and plastics. Furthermore, the expansion of the global petroleum liquid feedstock market is likely to be encouraged by substantial growth of the petrochemical industry over the assessment tenure, from 2019 to 2027.
Type, application and region are the parameters based on which the global market for petroleum liquid feedstock has been classified. Such classifications help in better understanding of the market.
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Global Petroleum Liquid Feedstock Market: Notable Developments
Some of the notable developments pertaining to the global petroleum liquid feedstock market are:
- Anadarko Petroleum and Chevron Corporation entered into an agreement in April this year. Following the acquisition it is expected that product portfolio of Chevron Corporation will become more diverse with better access to the global market. B Chevron Corporation being one of the leading producers of petroleum liquid feedstock, the market is likely to benefit from this strategic move.
A few of the reputed organizations functioning in the global petroleum liquid feedstock market are as mentioned below:
- Chevron Corp.
- Royal Dutch Shell Plc
- Exxon Mobil Corp.
- Saudi Arabian Oil Co
- TOTAL SA
- BP Plc
Global Petroleum Liquid Feedstock Market: Key Trends
The future course of the global petroleum liquid feedstock market is likely to be influence by the following factors of growth over the forecast period, from 2019 to 2027.
Market Demand to Grow Due to Rapid Expansion of the Oil and Gas Industry
The making of petrochemicals requires a massive amount of crude oil, gas, and its many derivatives. A case in point is in the year 2018, a large chunk of the chemicals that were used as petrochemical feedstocks were extracted from crude oil and gas. These extractions were mostly in the form of naphtha or ethane. Therefore, it could safely be projected that the global petroleum liquid feedstock market will expand, thanks to the rising demand for ethane and naphtha.
In present times, the refining and petrochemical and technologies are witnessing many innovations that would assist market players in obtaining optimal production target with minimal cost. Apart from increased efficiency, these innovative technologies also keep energy consumption to the minimum, better quality of finished products, and helps in the processing of unusual crude oil. For instance, advanced analysis and control technologies are increasingly being taken up by various refineries of petroleum to maximize output of the products.
In addition to the above-mentioned technological innovations in downstream, few other growth factors are likely to support the expansion of the global petroleum liquid feedstock market duirng the assessment tenure, from 2019 to 2027. Rapid expansion in the transportation industry, increased exploration activities in search of unconventional sources of petroleum, implementation of blockchain technology and internet of things in the oil and gas refineries are all likely to encourage market growth in foreseeable future.
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Global Petroleum Liquid Feedstock Market: Geographical Analysis
In an attempt to depict a comprehensive picture of the global petroleum liquid feedstock market, regional segments of the market are being made. The market is divided into the principal regions of Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America.
From the geographical standpoint, Asia Pacific is estimated to hold a large chunk of the global petroleum liquid feedstock market. It is expected that the region would grow rapidly owing to the high demand generated from oil and gas industry in China and India.
In India, many of the leading companies are entering into collaborations to setup huge greenfield refineries through the year 2022.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.