Transparency Market Research (TMR) has announced the release of a new
market study on the global
petrochemicals market. The report examines the historical
trajectory of the market up to 2013 and presents forecasts for the
market’s development from 2014 to 2020. According to the report,
the global petrochemicals market is expected to exhibit a steady 6.8%
CAGR from 2014 to 2020. The market will reach a valuation of US$885.1
bn by the end of the forecast period.
The report is titled ‘Petrochemicals Market - Global Industry
Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020’ and
is available for sale on the official website of TMR.
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Sample Of Petrochemicals Market Research Report At:
Petrochemicals, as the name suggests, are a wide range of chemicals
derived from petroleum feedstock. The global market for
petrochemicals is a crucial part of the chemicals industry and has
significant impact on various walks of human life, as ubiquitous
materials such as plastics are derived from petrochemicals. Due to
the rising demand for its various end-use segments, the global
petrochemicals market is expected to exhibit steady growth in the
coming years.
The major product segments of the global petrochemicals market are
ethylene, propylene, methanol, butadiene, xylene, benzene, styrene,
vinyls, and toluene. Of these, ethylene was the major product type in
the market in 2013. Ethylene’s use in the manufacture of
polyethylene – which, as the name suggests, consists of multiple
polymers of ethylene – is a major driver for the global
petrochemicals market.
The rising use of methanol in fuel mixtures has also provided a boost
to the global petrochemicals market.
Adding methanol allows for cleaner combustion of fuels, reducing the
environmental damage caused by the combustion. According to TMR,
methanol is expected to be the fastest growing product segment of the
global petrochemicals market in the forecast period. The demand for
styrene and butadiene is also expected to rise in the coming years,
thanks to their growing application in styrene butadiene rubber and
the rising demand for butadiene for the production of acrylonitrile
butadiene styrene.
On the basis of geography, China emerged as the largest segment of
the global market in 2013. China accounted for 25% of the demand from
the global petrochemicals market, thanks in part to the country’s
booming automotive and construction industries. China is also
anticipated to remain in a dominant position in the global
petrochemicals market in the coming years and is expected to be the
fastest growing segment of the market in the forecast period.
The rest of Asia Pacific followed China in the regional hierarchy of
the global petrochemicals market in 2013. India is the leader in the
rest of Asia Pacific, with the increasing demand for products
containing petrochemicals and the country’s flourishing
manufacturing sector expected to propel the regional market for
petrochemicals.
The Middle East and Africa also have an important role to play in the
future of the global petrochemicals market. These two regions contain
some of the largest petroleum producers in the world, with the easy
availability of petroleum allowing petrochemical companies in the
region to post strong growth figures.
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The Full Petrochemicals Market Research Report At:
In competitive terms, the global petrochemicals market is highly
fragmented and marked by constant efforts on the part of
multinational giants to acquire smaller regional companies. Key
players in the global petrochemicals market are BASF SE, Shell
Chemical Company, Total S.A., E. I. du Pont de Nemours and Company,
Sumitomo Chemical Co. Ltd., ExxonMobil, Sinopec Ltd., The Dow
Chemical Company, SABIC, LyondellBasell Industries, and Chevron
Phillips Chemical Company LLC.
The
global petrochemicals market is segmented as follows:
Petrochemicals
Market: Product Segment Analysis
- Ethylene
- Propylene
- Butadiene
- Benzene
- Xylene
- Toluene
- Vinyls
- Styrene
- Methanol
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
makers. TMR’s experienced team of analysts, researchers, and
consultants use proprietary data sources and various tools and
techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team
of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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Albany, NY 12207
Tel: +1-518-618-1030
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