Press release
Petrochemicals Market is expected to witness significant growth with a CAGR of ~6.7%
Synopsis of Petrochemical Market:The Global Petrochemicals Market is expected to witness significant growth with a CAGR of ~6.7% over the forecast period of 2017-2023 and reach USD 1075.19 billion by 2023.
Petrochemicals are basically Petroleum products derived from hydrocarbons. Some other chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal, or natural gas, or renewable sources such as corn or sugar cane. Petrochemical is mainly classified into two type’s olefins (including ethylene and propylene) and aromatics (including benzene, toluene and xylene isomers). Both of these are produced in oil refineries by fluid catalytic cracking of petroleum fraction. Olefins produced by steam cracking of natural gas liquid such as ethane and propane, whereas aromatics are produced by catalytic reforming of naphtha.
Petrochemicals are used in various end user industries ranging from manufacturing to consumer goods. However, they are most commonly used in adhesives, polymers, paints and coatings, dyes, surfactants. The Global Petrochemical Market is expected to be driven by rising demand for petrochemicals in major end-user industries linked with favorable operating conditions, especially in the Middle East and Asia Pacific over the forecast period. Moreover, Demand for bio-based chemicals is increasing due to growing consumer awareness as we all benefits associated with their usage. Consequently, investment in bio based chemicals in public and private sector likely to increase in near future and will hamper the growth of Petrochemical Market globally.
Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/3164
Key Players:
Key players of the Global Petrochemicals Market are BASF SE, ExxonMobil Corporation, The Dow Chemical Company, Shell Chemical Company, SABIC, Sinopec Limited, Lyondell Basell Industries, Total S.A., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical Company LLC and E. I. du Pont de Nemours and Company.
Regional Analysis:
Asia Pacific emerged as leading market for Petrochemicals, and accounted for around 50% for shares in volume consumption as of 2014. China majorly contributed in the growth of Asia Pacific market, owing to flourishing automotive industry. Growing demand for polymer and solvent, dyes, adhesives, paints and coatings in APAC anticipated to boost growth of Petrochemicals across the region. North America is the second largest market for petrochemicals after APAC petrochemical market. U.S. and Canada led the North American Petrochemical Market owing to rising shale gas exploration. Furthermore, growth in this region anticipated to encourage by vast number of product performance such as plastic resins, synthetic fibers, rubber products, paints & coatings, adhesives & sealants, lubricants, water treatment products, and industrial chemicals. Europe is also an attractive market for Petrochemicals and stood third in Global Petrochemicals Market by having moderate growth over the last few years, on the other hand, Middle East and Africa is anticipated to play crucial role in the development of overall Petrochemicals Market. This is due to easy availability of petroleum and this region is also considered as key producer of petroleum.
Segmentation:
The Global Petrochemicals Market is majorly segmented on the basis of product, application and by region. Market segmentation on the basis of products includes Methanol, benzene, xylene, toluene, ethylene, propylene, butadiene, vinyl styrene. Moreover Ethylene is the leading product segment and accounted for 30% overall market volume in 2015. Abundance and low cost ethane availability has made this segment most dominant. Furthermore, propylene is the prominent segment in terms of value and accounted to bench mark in USD billion in 2015. Owing to major utilizations in production of variety of chemicals including propylene oxide, acrylonitrile, cumene, butyraldehyde and acrylic acid have made propylene dominant segment in terms of revenue. Methanol product segment projected to be the fastest growing segment over the forecast period of 2017 to 2023. As growth of methanol is directly related to its increasing usage in gasoline blending and methanol to olefins processes.
Browse Full Report in Detail @ https://www.marketresearchfuture.com/reports/petrochemical-market-3164
On the basis of application market segmented into adhesives, polymers, paints and coatings, dyes, surfactants, rubber, plastics, and solvents. Based on the regions market is segmented into North America, APAC, Europe, Latin America and Middle East and Africa.
Geographic Analysis:
The report covers brief analysis of geographical region such as: North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
The report about Global Petrochemicals Market by Market Research Future comprises of extensive primary research along with detail analysis of qualitative as well as quantitative aspects by various industry experts and key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report further provides detail information about strategies used by top key players in the industry. It also gives a broad study about different market segments and regions.
Key Points from Table of Content:
12. Company Profiles
12.1 BASF SE
12.1.1 Company Overview
12.1.2 Product/Business Segment Overview
12.1.3 Financial Updates
12.1.4 Key Developments
12.2 ExxonMobil Corporation
12.2.1 Company Overview
12.2.2 Product/Business Segment Overview
12.2.3 Financial Updates
12.2.4 Key Developments
12.3 The Dow Chemical Company
12.3.1 Company Overview
12.3.2 Product/Business Segment Overview
12.3.3 Financial Updates
12.3.4 Key Developments
12.4 Shell Chemical Company
12.4.1 Company Overview
12.4.2 Product/Business Segment Overview
12.4.3 Financial Updates
12.4.4 Key Developments
Make an Enquiry before buying @ https://www.marketresearchfuture.com/enquiry/3164
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: salesteam@marketresearchfuture.com
This release was published on openPR.
Permanent link to this press release:
Copy
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 is expected to witness significant growth with a CAGR of ~6.7% here
News-ID: 729147 • Views: …
More Releases from Market Research Future - MRFR

Humic Acid Market Expected to Hit USD 1.14 Billion by 2032 with a Remarkable 10. …
Humic acid is an organic substance formed through the natural decomposition of plant and animal matter in the soil. It is a key component of humic substances, which also include fulvic acid and humin. Known for its ability to improve soil fertility, enhance nutrient uptake, and stimulate plant growth, humic acid has become an essential input in modern agriculture. Beyond agriculture, it finds applications in horticulture, dietary supplements, animal feed,…

Caustic Soda Market Poised to Growth USD 77.98 Billion by 2032 with Thriving CAG …
Caustic soda, also known as sodium hydroxide (NaOH), is one of the most widely used industrial chemicals in the world. It is a strong alkali with highly corrosive properties, commonly produced via the chlor-alkali process along with chlorine and hydrogen as co-products. Caustic soda plays a vital role across multiple industries, including pulp and paper, textiles, alumina refining, soaps and detergents, water treatment, food processing, and chemicals manufacturing.
The global caustic…

Trenchless Pipe Relining Market Set to Grow at an Impressive CAGR of 12.9% Throu …
Trenchless pipe relining is an advanced method of repairing and rehabilitating existing pipelines without the need for extensive excavation. It involves inserting a liner coated with resin into a damaged or corroded pipe, curing it in place, and forming a new structural lining that restores functionality and extends the pipe's service life. This technology has gained significant traction as an efficient, cost-effective, and environmentally friendly alternative to traditional open-cut pipe…

Explosives Market Set to Reach USD 40.2 Billion, with a Healthy 2.13% CAGR Till …
The explosives market encompasses the production, distribution, and application of energetic materials used across a wide range of sectors - from mining, quarrying, and construction to defense, demolition, and special industrial applications. Explosives are engineered formulations designed to release energy rapidly and are typically classified by sensitivity, velocity of detonation, and intended use. While military applications attract attention for their strategic importance, commercial explosives for mining and infrastructure development constitute…
More Releases for Petrochemical
Global Petrochemical Market Outlook Report 2025
On Sep 26, Global Info Research released "Global Petrochemical Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031". This report includes an overview of the development of the Petrochemical industry chain, the market status of Petrochemical Market, and key enterprises in developed and developing market, and analysed the cutting-edge technology, patent, hot applications and market trends of Petrochemical.
According to our (Global Info Research) latest study, the global Petrochemical…
Global Petrochemical Market Size by Application, Type, and Geography: Forecast t …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- According to Market Research Intellect, the global Petrochemical market in the Internet, Communication and Technology category is projected to witness significant growth from 2025 to 2032. Market dynamics, technological advancements, and evolving consumer demand are expected to drive expansion during this period.
The growing need for chemicals used in manufacturing, packaging, and building around the world is propelling the petrochemical market's significant rise. The need for plastics, synthetic…
Expanding Petrochemical Sector Propelling Methanol Demand
For reducing the dependence of the world on fossil fuels and associated GHG emissions, methanol production is becoming popular. If we are to think of a "methanol economy" this would put into use both renewable electricity and waste CO₂.
The alternative production of fuels like methanol, which are made from fossil fuel, by making the use of wind, solar, hydroelectricity can also help solve the issue of storing this variable energy…
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 @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=5388520…
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…
GLOBAL ACRYLONITRILE MARKET: TAEKWANG INDUSTRIAL, SHANGHAI SECCO PETROCHEMICAL, …
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…