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Olefins Market Study 2020 Splendid Growth By Leading Players Are LyondellBasell Industries Holdings B.V.; Sasol; Evonik Industries AG; Qatar Chemical Company Ltd
Olefins Market
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Market Analysis: Global Olefins Market
Global Olefins Market is expected to grow with a steady CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018, and the historic year of 2017. This rise in market value can be attributed to the adoption of innovative production methods and advancements in technologies.
Key Market Competitors:
Exxon Mobil Corporation; INEOS AG; Royal Dutch Shell; National Petrochemical Company; China Petroleum & Chemical Corporation; SABIC; DowDuPont; Total; NOVA Chemicals Corporation; Chevron Phillips Chemical Company; LyondellBasell Industries Holdings B.V.; Sasol; Evonik Industries AG; Qatar Chemical Company Ltd; PJSC "Nizhnekamskneftekhim"; Mitsubishi Chemical Corporation; Idemitsu Kosan Co.,Ltd.; Petro Rabigh; Mitsui Chemicals, Inc.; Jam Petrochemical Company; TPC Group; Oil and Natural Gas Corporation Ltd. are few of the major competitors currently present in the Olefins Market.
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Market Definition: Global Olefins Market
Olefins are chemical compounds that are used as a manufacturing component for various other chemical components. The productions of these compounds are based on the crude oil, naphtha or natural gases. These consist of hydrogen and carbon atoms in the molecular structure are used widely in the production of plastic products.
Segmentation: Global Olefins Market
Olefins Market : By Type
Ethylene
Propylene
Butadiene
Butylene
Others
Olefins Market : By Applications
Olefin Glycols
Olefin Oxides
Ethylbenzene
Polyolefins
Cumene
Olefins Market : By Geography
North America
South America
Europe
Asia-Pacific
Middle East and Africa
Key Developments in the Market:
In August 2018, LyondellBasell Industries Holdings B.V. announced that they had completed the acquisition of A. Schulman, Inc. This acquisition will help LyondellBasell Industries Holdings B.V. significantly increase the production capacity of olefins and expand the product offerings for both the organizations.
In July 2017, NOVA Chemicals Corporation announced that they had completed the acquisition of William Partners LP's share in the olefins plant situated in Louisiana, United States as well as the share in Ethylene Trading Hub situated in Texas, United States. This acquisition will help the company in entering and providing solutions to the American region.
Olefins Market Drivers:
Growth in demand from the plastics industry for PAO-based plastic products; this factor is expected to act as a driver for the market growth
Increasing innovations and advancements in the production methods resulting in enhanced efficiency of production process and enhanced product offering; this factor is expected to drive the market growth
Olefins Market Restraint:
Vulnerable and fluctuating prices of raw materials for the manufacturing of olefins are expected to act as a restraint to the market growth
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