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Global Petrochemicals Market Research Report By Application, By Type, By Region, Shares, Trends And Forecast 2022-2031
Petrochemicals Market
According to The Business Research Company's petrochemicals market report, global petrochemicals market reached a value of nearly $456.5 billion in 2019, having increased at a compound annual growth rate (CAGR) of 3.7% since 2015. The market is expected to decline from $456.5 billion in 2019 to $434.1 billion in 2020 at a compound annual growth rate (CAGR) of -4.9%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is expected to grow slightly from $430.96 billion in 2021 to $431.01 in 2023 at a CAGR of 0.01%. The market is expected to stabilize and reach $453.6 billion in 2025 and $506.1 billion in 2030.
Rising demand for polypropylene is expected to contribute to the growth of the petrochemicals market in the forecast period. Polypropylene is used in a wide range of applications including household products, automotive, and medical devices, among others. Superior mechanical properties and moldability make polypropylene a preferred material in manufacturing several products including automotive parts. Polypropylene is being increasingly used in Electric vehicles to neutralize battery weight. It is also used as an insulating material for high voltage carrying cables, and in the interior of the vehicles. It is estimated that by 2025, electric vehicles and hybrid electric vehicles will account for 30% of all vehicle salesi. Rising demand for e-vehicles is expected to boost the demand for polypropylene, which in turn will drive the market for petrochemicals in the forecast period.
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The petrochemicals market is segmented -
• By Type: Ethylene, Propylene, Benzene, Xylene, Styrene, Toluene, Cumene, Others
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major competitors in the petrochemicals market include Royal Dutch Shell PLC, Saudi Basic Industries Corporation (SABIC), The Dow Chemical Company, China Petroleum & Chemical Corporation (Sinopec), LyondellBasell Industries N.V.
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The petrochemicals market consists of the sales of petrochemicals by entities (organizations, sole traders or partnerships) that produce acyclic (i.e., aliphatic) hydrocarbons such as ethylene, propylene, and butylene made from refined petroleum or liquid hydrocarbons and/or produce cyclic aromatic hydrocarbons such as benzene, toluene, styrene, xylene, ethyl benzene, and cumene made from refined petroleum or liquid hydrocarbons.
The Table Of Content For The Petrochemicals Market Include:
1. Petrochemicals Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
…….
27. Petrochemicals Market Opportunities And Strategies
28. Petrochemicals Market, Conclusions And Recommendations
29. Appendix
The Business Research Company's "Global Petrochemicals Opportunities And Strategies Market Report - Forecast To 2030" is the most comprehensive report available in market, providing data and statistics from over 60 geographies analyzed in more than 2500 market segments. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. Additionally, it evaluates the market's historic and projected growth and identifies significant trends and strategies that can be used to outperform the competitors in the sector.
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