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Petrochemicals Market Evolving Industry Trends 2020

06-16-2017 02:46 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: TMR-Research Reports

The business environment in the global petrochemicals market is highly competitive. Considering the presence of several players, the market’s vendor landscape has remained fragmented. While companies may try various tactics of consolidating market share, overall the competition in the global petrochemicals market will remain intense even in the coming years, as per a new study by Transparency Market Research (TMR). Also to gain competitive strength, the leading market players are looking to gain traction by product-diversification.

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Some of the leading players operating in the global petrochemicals market are Shell Chemical Company, BASF SE, Total S.A., Sumitomo Chemical Co. Ltd., E. I. du Pont de Nemours and Company, Sinopec Ltd., ExxonMobil, The Dow Chemical Company, and Chevron Phillips Chemical Company LLC. These companies have a strong distribution network, which has helped them gain competitive edge in the past. Moreover, the expansion strategies adopted by the leading players have strong influence on the overall market.

According to TMR, the global petrochemicals market will exhibit a CAGR of 6.8% between 2014 and 2020. At this pace, the market will reach US$885.1 bn by the end of 2020. Among the key regional segments, Asia Pacific has remained the dominant market for petrochemicals over the last few years. Based on product segment, the demand for ethylene is considerably high.

Shale Gas Boon in North America to Have Positive Influence on Market

The market is increasingly benefiting from the shale gas boon in North America. In addition, the rising demand from the U.S. and Canada is complimenting growth witnessed by the petrochemicals market in the region. For companies gearing to invest in the petrochemicals industry, the availability of feedstock, besides domestic environment becomes a key factor influencing their business decisions. For instance, companies operating in North America mostly leverage natural gas boon witnessed in the region, rather than focusing on crude oil as a resource. In comparison, enterprises in Saudi Arabia petrochemicals market witness capital influx in downstream sector development.

It is important to note here that insulation and tire manufacturing units across the world exhibit increasing application of derivatives such as polyethylene, polyurethane, and synthetic rubber on a large scale. The rising demand for these derived products, which also exhibit superior characteristics such as robustness, nimble weight, strength, and tractability, will have a positive impact on the overall petrochemicals market. Meanwhile, government support and the rising demand from key end-use industries will enable the market gain traction in emerging nations.

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Volatility in Prices of Raw Materials Can Hamper Growth

On the downside, soaring environmental concerns and paradigm shift toward bio-based chemicals can hamper the market’s trajectory to an extent. Also volatility in raw material prices, as the market continues depending crude oil, will threaten its growth in the coming years. Nevertheless, the rising use of shale gas as the key feedstock in petrochemicals production will fuel the market prospects. This factor will also prove key to the market’s expansion, especially in developed nations. On the other hand, the expansion of automotive and construction industries will boost the demand for petrochemicals in emerging nations such as India and China.

This review is based on a TMR report, titled “Petrochemicals Market (Product - Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Vinyls, Styrene, and Methanol) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”

The report segments the global petrochemicals market as:

Petrochemicals Market: Product Segment Analysis
Ethylene oxide
Ethylene dichloride
Ethyl benzene
Other (Including Alpha olefins and vinyl acetate)


Propylene oxide
Acrylic acid
Other (Including Polygas chemicals and oxo-chemicals


Styrene-butadiene rubber
Butadiene rubber
Acrylonitrile butadiene styrene
Styrene-butadiene latex
Other (Including Nitrile rubber and mechanical belts)
Ethyl benzene
Alkyl benzene
Other (Including Maleic anhydride)


Toluene diisocyanate
Other (Including Pesticides, drugs and nitrotoluene)


Expandable polystyrene
Acrylonitrile butadiene styrene
Styrene-butadiene latex
Unsaturated polyester resins
Styrene-butadiene rubber
Other (Including copolymer resins)


Acetic acid
Methyl Tertiary Butyl Ether (MTBE)
Dimethyl ether
Methanol to olefins (MTO)

Other (Including biodiesel, solvent and chloromethane)

Petrochemicals Market: Regional Analysis
North America
Rest of Asia Pacific
Middle East & Africa
Latin America

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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Albany, NY 12207

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