Press release
The Rising Demand For Petroleum By-Products Resulted To Increase In The Market Of Petrochemical Feedstock
A substantial portion of petrochemicals, are derived from fossil fuels such as natural gas and crude oil. The remainder comes primarily from coal and biomass. Petrochemical plants are the building blocks for other processes and products which convert the natural resources to petrochemicals. These plants are increasingly complex and require energy in enormous quantities, specifically the distillation stage which involves separating the hydrocarbons from fossil fuels.These hydrocarbons are then sent to the "crackers" plants which convert them into useful chemicals called Feedstocks. Petrochemical plants are the powerhouses that cover petrochemicals for natural resources and are used as building blocks for other processes and products. Petrochemical feedstock refers to any kind of unprocessed material used as a raw material for transformation to another end product in a manufacturing process.
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Segmentation Analysis of Petrochemical Feedstock Market
The global Petrochemical feedstock market is bifurcated into two major segments: feedstock type and region.
Based on Type, Petrochemical feedstock market is segmented as follows:
Naphtha
Natural gas
Coal
Ethane
Based on region, Petrochemical feedstock market is segmented as follows:
North America
Europe
Latin America
East Asia
South Asia and Oceania
Middle East & Africa
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Petrochemical Feedstock Market: Key players
Some of the vital players covered in the petrochemical feedstock report are BASF, Dow Chemical, ExxonMobil Chemical, LyondellBasell Industries, INEOS, SABIC, Formosa Plastics Corporation, Sumitomo Chemical, Reliance, and Chevron. Manufacturers are adopting a blend of organic and inorganic strategy so as to improve their global footprint and increase their share of the market in the longer run.
Key players in the petrochemical feedstock market are the driving members in regional and global markets. Based on end-uses, all petrochemical industries are coming with new strategies and increasing their revenue from the target segments in the global markets. For instance, BASF is the German-based petrochemical firm producing new end-products according to the customer use and global trends that will lead to increasing their global revenues from new products.
Regional analysis includes:
North America (U.S., Canada)
Latin America (Mexico, Brazil, Argentina, Chile, Peru)
Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordics)
Eastern Europe (Russia, Poland, CIS)
Asia-Pacific (China, India, ASEAN, South Korea)
Japan
Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
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