openPR Logo
Press release

Petrochemicals Market value worth US$ 7.0 Trillion by 2027

Albany, NY - Petrochemicals Market: Introduction

In terms of value, the global petrochemicals market is anticipated to expand at a CAGR of 4% from 2020 to 2030. Petrochemicals are an important part of commodities that are used in daily lives. Petrochemical products are used in various end-use industries, ranging from manufacturing to consumer goods. These chemical compounds are derived from petroleum as well as other hydrocarbons, which are obtained from natural gas and crude oil. Petrochemical products are primarily used as chemical building blocks in various applications and materials. Various organic chemicals are manufactured in the petrochemicals industry. These include methanol, ethylene, butadiene, propylene, benzene, xylene, and toluene. Ethylene, butadiene, and propylene, along with butylene, are collectively called olefins. These belong to a class of unsaturated aliphatic hydrocarbons with chemical formula CnH2n. Benzene, xylene, and toluene are commonly referred to as aromatics. These are unsaturated cyclic hydrocarbons containing multiple rings. Olefins, methanol, and aromatics are precursors to various chemical products; and are generally referred to as primary petrochemicals.

Download PDF Brochure -

Side Effects of Magnesium Stearates to Hamper Petrochemicals Market

Significant steps are being taken around the world to move from the current fossil-based economy toward a more sustainable economy based on biomass. The transition to a bio-based economy has multiple drivers: need to develop environmentally, economically, and socially sustainable global economy; anticipation that oil, gas, coal, and phosphorus would reach peak production in the near future and prices would rise; global issue of climate change; and the need to reduce atmospheric greenhouse gas (GHG) emissions. A large part of the world is slowly transitioning from a fossil fuel dependent economy to one that is more environmentally sustainable, centered around biomass. Countries are striving to manufacture bio-based chemicals from various biomass sources in order to achieve this. The U.S. Department of Energy (DoE) has highlighted a dozen platform or base chemicals that could possibly replace fossil or petroleum-based building blocks in value-added chemicals. These include carboxylic acids, isoprene, ethanol, amino acids, vitamins, and industrial enzymes. Thus, rise in use of bio-based chemicals as alternatives to petrochemicals is expected to hamper the petrochemicals market in the near future.

Ethylene to Offer Lucrative Opportunities for Petrochemicals Market

In terms of product, the global petrochemicals market has been divided into methanol, ethylene, propylene, c4 stream, benzene, toluene, and xylene. Ethylene is projected to be a highly lucrative segment of the global petrochemicals market during the forecast period. It is likely to expand at a CAGR of 4% from 2020 to 2030. Ethylene is a key petrochemical used in the production of various derivatives and end-use products. The three key chemical processes in ethylene production are dehydration of ethanol, steam cracking of oil and gas-based feedstock, and methanol-to-olefins. Ethylene is employed in a wide range of end-use industries and applications such as chemical, food & beverages, medical, and rubber & plastics. This can be ascribed to high usage of petrochemicals as raw materials in the manufacture of products mentioned above. This is expected to boost the global petrochemicals market from 2020 to 2030.

More Trending Reports by Transparency Market Research –

Building & Construction End-use Industry to Dominate Petrochemicals Market

In terms of end-use industry, the global petrochemicals market has been segregated into aerospace, agriculture, automotive, building & construction, consumer & industrial goods, electrical & electronics, food & beverages, healthcare, marine, paints & coatings, power & utilities, pulp & paper, textiles & leather, and others. The building & construction segment is anticipated to dominate the global petrochemicals market during the forecast period. The building & construction segment accounted for a major share of the global petrochemicals market in 2019. In terms of volume, the segment is anticipated to expand significantly during the forecast period. The segment is projected to account for more than 25% share of the global petrochemicals market by 2030. This is estimated to boost the global petrochemicals market in the near future.

Asia Pacific to be Key Region of Petrochemicals Market

The global petrochemicals market has been split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific dominated the global petrochemicals market in 2019. The trend is projected to continue during the forecast period. The demand for petrochemicals is high in Asia Pacific, particularly in China, owing to increase in consumption of petrochemicals in automotive, electrical & electronics, and building & construction industries in the region. China is a prominent consumer of petrochemicals in Asia Pacific. The expansion of the building & construction industry is a major factor propelling the petrochemicals market in the country. Asia Pacific is anticipated to remain a highly lucrative region of the global petrochemicals market during the forecast period, owing to increase in production of various petrochemical-based products in countries such as China and India in the region.

Request for Discount on This Report at -

Competition Landscape of Petrochemicals Market

The global petrochemicals market is highly fragmented. BASF SE, BP Plc, DuPont de Nemours, Inc., Total S.A., Exxon Mobil Corp., China Petroleum & Chemical Corporation, Saudi Arabian Oil Co., Sumitomo Chemical Co., Ltd., and Dow cumulatively held more than 50% share of the global petrochemicals market in 2019. Leading players have taken initiatives to expand their presence in the global petrochemicals market through acquisitions, increase in production capacities, and strategic partnerships.

Other key manufacturers operating in the global petrochemicals market are Chevron Phillips Chemical Company, LyondellBasell Industries NV, Mitsubishi Chemical Corporation, INEOS, PetroChina Company Limited, Saudi Basic Industries Corp., Idemitsu Kosan Co., Ltd., Reliance Industries Limited, Royal Dutch Shell Plc, Indian Oil Corp. Ltd., and Formosa Petrochemical Corporation.

Request for covid19 Impact Analysis -


90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453



About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Petrochemicals Market value worth US$ 7.0 Trillion by 2027 here

News-ID: 2293118 • Views: 663

More Releases from Transparency Market Research - Biotechnology

Automotive Coatings Market to Reach US$ 33.63 Bn by 2026
Albany, NY - The global automotive coatings market is expected to expand at a healthy rate of 6.28% CAGR between 2018 to 2026, elucidates an upcoming report by automotive coatings market. The global automotive coatings market is likely to grow at a healthy rate in the upcoming years. The rising disposable income is paving way for the customer to look for attractive colors and they do not mind paying to improve aesthetic.
HIV/AIDS Diagnostics Market Is Projected to Expand at a CAGR of ~9% from 2019 to 2027
HIV/AIDS Diagnostics Market Is Projected to Expand at a CAGR of ~9% from 2019 to …
Transparency Market Research (TMR) has published a new report on the HIV/AIDS diagnostics market for the forecast period of 2019–2027. According to the report, the global HIV/AIDS diagnostics market was valued at ~US$ 3 Bn in 2018, and is projected to expand at a CAGR of ~9% from 2019 to 2027. Read Report Overview - HIV/AIDS Diagnostics: Overview HIV infection can be identified either by the detection of HIV-specific antibodies in the
Hair Loss Treatment Products Market Emerging Trends and Competitive Landscape Forecast to 2027 | Key Players include Sun Pharmaceutical Industries Ltd., Aclaris Therapeutics, Inc., Concert Pharmaceuticals
Hair Loss Treatment Products Market Emerging Trends and Competitive Landscape Fo …
Global Hair Loss Treatment Products Market: Introduction Baldness generally refers to excessive hair loss from a person’s scalp. Hereditary hair loss with age is considered to be the most common cause of baldness. Some people prefer to let their hair loss run its course unhidden and untreated. There are various causes of hair fall, and various treatments for hair fall. Hair loss treatment products prevent further hair loss and restore growth. Read
Composite Surfacing Films Market By 2026 Axiom Materials, Inc., The 3M Company, Gurit Holding AG, and Henkel AG & Co. KGaA.
Composite Surfacing Films Market By 2026 Axiom Materials, Inc., The 3M Company, …
Overview The research report provides valuable insights into demand drivers, geographical outlook, and competitive landscape of the Composite Surfacing Films Market Market for the 2018-2026 forecast period. Further, it throws light on restraints as well discusses opportunities at length that are likely to come to the fore over the forecast period. The analysis thus provided helps Market stakeholders with business planning and to gauge scope of expansion in the Composite Surfacing

All 5 Releases

More Releases for Petrochemical

Basic Petrochemical Market 2022 | Detailed Report
The Basic Petrochemical research report combines vital data incorporating the competitive landscape, global, regional, and country-specific market size, market growth analysis, market share, recent developments, and market growth in segmentation. Furthermore, the Basic Petrochemical research report offers information and thoughtful facts like share, revenue, historical data, and global market share. It also highlights vital aspects like opportunities, driving, product scope, market overview, and driving force. Download FREE Sample Report @
Global Petrochemical Catalyst Market 2020 Industry Status
This report also researches and evaluates the impact of Covid-19 outbreak on the Petrochemical Catalyst industry, involving potential opportunity and challenges, drivers and risks. We present the impact assessment of Covid-19 effects on Petrochemical Catalyst and market growth forecast based on different scenario (optimistic, pessimistic, very optimistic, most likely etc.).   Scope of the Report: The report presents the market outlook for the Indian Phospho Gypsum product from the year 2019 to the year
Global Alkylbenzene Sulfonate Market Analysis 2020 Indian Oil, Jintung Petrochem …
Global Alkylbenzene Sulfonate Market Size, Type, Application, End-User, and Regional Analysis, Trade Analysis, Market Overview, Premium Insights,Patent Analysis, Market Attractiveness, Company Profiles, Traders/Distributors, Key Buyers, Forecasts 2020 - 2025 The Alkylbenzene Sulfonate market study exhibits a comprehensive analysis of the historic, current, and future trends across the globe. The report comprises of definitions, classifications, product specifications, and market overview, manufacturing processes, cost structures, and raw material analysis. The Alkylbenzene Sulfonate market
Refractories Market - Revolution in Petrochemical Products 2025
Global Refractories Market: Overview Modern manufacturing methods frequently function under extremely high temperatures, at times in excess of 1,000°F, and that calls for ceramic materials that can withstand stronger heat than metals. Refractories are materials that can maintain their form at high temperature and are ideal for kilns, furnaces, reactors, and incinerators. In addition to being heat resistance, refractory materials are also able to deal with physical wear and tear as
Lubricant Packaging Market By Top Key Players : Martin Operating Partnership, Zh …
Chatbots Market research report helps to get access to industry data and upcoming trends which will give you avenues to know about the market. This report gives opportunities to go through with industry analysis, share and forecast, Providing brief description about the market size its competitors and product identification. Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of
Global Market Study Evaluate on Acrylonitrile Industry by Type, Manufacturers, Application, Type, and Regions, Forecast up to 2022 The scope of the global Acrylonitrile market report is: This report offers a comprehensive evaluation of the Acrylonitrile market. It does so by in-depth qualitative insights, historical Acrylonitrile market data, and verifiable projections about global Acrylonitrile market size. The projections featured in the Acrylonitrile market report have been derived using proven research assumptions and