Petrochemicals Market Trends Size Share Analysis 2022-2029

The Petrochemicals Market is expected to grow at a CAGR of 6% during the forecast period 2022-2029. North America region has the highest market share in the Petrochemicals Market, and it is further continuing its dominance during the forecast period.

Browse Full Report at: https://www.datamintelligence.com/research-report/petrochemicals-market

Our research report gives wide perceptions of the latest trends and development prospects of the market analysis, detailed segmentation analysis, volume, size, share, growth drives, and opportunities in the market. In-depth regional and country-level illustration of the competitive landscape depends on several phases and status of clinical trials over the prominent economies of the globe, and also report contains a number of major companies profiled in the relevant market.

Market Drivers:

Petrochemical products are rapidly expanding their use in the construction and automobile industries due to their mechanical properties. Automobile manufacturers use cutting-edge components in the construction of their vehicles. In the automotive industry, novel materials are frequently utilized to reduce vehicle weight and enhance fuel economy. The fuel efficiency of a vehicle can be improved by 6 to 8 % with a weight reduction of 10 %.

Composite and polymer materials are replacing iron and steel in the automotive industry, boosting market expansion. Polypropylene and ethylene are used to make a variety of components in the automotive industry. Polypropylene is used as an insulating material in interior design as well as to balance the weight of the battery in electrical automobiles. The strong growth in the construction and automotive industries across North America, Europe, and Asia-Pacific is helping the market. 99 % of all polymers are produced through the use of oil and natural gas. Naphtha is one of the most important petrochemicals used to make plastics. Ethylene and propylene are two additional petrochemicals that are utilized in the manufacturing of plastics. The changing lifestyles of consumers and the growing demand for packaged goods are driving the plastics market.

Download Sample Report at: https://www.datamintelligence.com/download-sample/petrochemicals-market

Market Segmentation:

By Type:
• Aliphatic
• Aromatics
• Inorganic
• Synthesis Gas

By Raw Material:
• Crude Oil
• Natural Gas
• Liquids (NGLs)
• Coal
• Others

By Manufacturing Process:
• Fluid Catalytic Cracking (FCC)
• Steam Cracking
• Catalytic Reforming

By Distribution Channel:
• B2B
• B2C
• Others

By Application:
• Polymers
• Solvents
• Rubber
• Paints & Coatings
• Adhesives and Sealants
• Surfactants
• Dyes and Inks
• Elastomers
• Packaging
• Cosmetics
• Others

By End-User:
• Aerospace
• Packaging
• Agriculture
• Automotive & Transportation
• Building & Construction
• Consumer & Industrial Goods
• Electrical & Electronics
• Healthcare
• Others

Geographical Classification:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa

Major Companies Listed:

BASF SE, Sinopec Shanghai Petrochemical Company Limited, INEOS, Formosa Plastics Corporation, LG CHEM, Mitsubishi Chemicals, Air Liquide S.A, PetroChina Company Limited, Evonik Industries, and Reliance Industries.

Trending Topics:

Pet Food Market: https://www.datamintelligence.com/research-report/pet-food-market

Organic Pet Food Market: https://www.datamintelligence.com/research-report/organic-pet-food-market

Freeze-Dried Pet Food Market: https://www.datamintelligence.com/research-report/freeze-dried-pet-food-market

DataM Intelligence 4market Research LLP
Ground floor, DSL Abacus IT Park,
Industrial Development Area, Uppal,
Hyderabad, Telangana 500039.

DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world.

We monitor and analyse the market by dissecting various market influencers, competitive intensity, innovations, trends, and emerging products. This aids us in providing a detailed scenario of the present and future of the market.

This release was published on openPR.