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Petrochemicals Market - Industry trends, Outlook, Challenges and Key Market Players

11-01-2017 12:00 PM CET | Energy & Environment

Press release from: Petrochemicals Market

Petrochemicals Market

Petrochemicals Market

Petrochemicals are compounds derived from hydrocarbons, generally crude and natural gas. It can also be obtained from various renewable materials such as sugarcane and corn, among others. Furthermore it is divided into three classes as per chemicals structures namely, olefins, aromatics, and synthesis gas hydrocarbon. Ethylene and propylene are olefin hydrocarbons, while benzene, toluene and xylene are aromatic hydrocarbons. FCC (fluid catalytic cracking), steam cracking and catalytic reforming are the various process employed in refineries and chemicals plants to obtain the desired product. Petroleum products are an integral part of our daily life and find major demand across various end-use industries. Moreover petrochemicals products find application in various everyday use products such as cloth, houses, automobiles, tooth brush, furniture, irrigation, household items, synthetic detergent, packaging, electronics, electrical, performance products, medical equipment, among others.

Request a sample copy of this report:
https://www.coherentmarketinsights.com/insight/request-sample/268

Global Petrochemicals Market Taxonomy:

On the basis of product type, the global market is classified into:
Ethylene
Polyethylene
Ethyl benzene
Ethylene oxide
Others
Propylene
Propylene oxide
Polypropylene
Isopropanol
Others
Butadiene
Styrene
Acrylonitrile butadiene styrene
Butadiene
Others
Benzene
Cyclohexane
Nitrobenzene
Ethyl benzene
Others
Xylene
Toluene
Solvents
Benzene
Xylenes
Others
Vinyl
Styrene
Polystyrene
Acrylonitrile butadiene styrene
Unsaturated polyester resins
Others
Methanol
Gasoline
Acetic acid
Formaldehyde
Others

On the basis of manufacturing processes, the global market is classified into,
Fluid Catalytic Cracking (FCC)
Steam cracking
Catalytic reforming
On the basis of geographic region, the global market is classified into:
North America
U.S.
Canada
Europe
U.K.
Germany
Italy
France
Spain
Russia
Rest of Europe
Asia Pacific
China
India
Japan
ASEAN
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Argentina
Rest of Latin America
Middle East
GCC Countries
Israel
Rest of Middle East
Africa
Northern Africa
Central Africa
South Africa

Access Table of Content (TOC) of the report:
https://www.coherentmarketinsights.com/ongoing-insight/toc/268

Global Petrochemicals Market Outlook – Oversupply of Crude and Subsequent Decline in Prices Creates Favorably Environment for Market Growth

Large volume of feedstock or raw materials available in the Organization of Petroleum Exporting Countries (OPEC), and rapid development of shale gas exploration in the North American region, primarily in the U.S. and Canada is expected to create a highly conducive environment for growth of the global petrochemicals market. The basic raw materials used in petrochemicals industry are natural gas, crude, and coal. Various products such as ethylene, propylene, benzene, methanol, among others, are obtained from the petrochemicals industry are used as raw materials by various end-use industries worldwide. China is one of the largest consumers of petrochemical products. Rampant growth of various end-use industries in turn fuels demand for petroleum products, especially in emerging economies such as India and China. As per data released by the U.S. Energy Information Administration (EIA) total liquid fuel consumption in Asia Pacific is expected to be pegged at 33.3 million barrels per day (bpd), with China accounting for 80% of the consumption in the region. Moreover, with rapid advancement in the shale gas technology, the U.S. and Canada are actively exploring their abundant shale gas reserves by using hydro fracturing technology. These factors in turn are projected to provide high growth traction to the global petrochemicals market.

Global Petrochemicals Market challenges – Fluctuation of raw materials price and transformation towards green energy

Natural gas, coal and crude are the primary building blocks of petrochemicals industry. While currently the global crude oil production is at an all-time high, the market is subjected to high fluctuations in production and pricing. This volatility is a major challenge for players in the global petrochemicals market. The market is currently undergoing a trend of oversupply of feed stock due to large production volumes by the OPEC and Russia. This along with the economic crisis in 2009, has led to rapid decline in demand for crude oil in Europe and Japan. Further adding to the woes of the players in the industry is consumer inclination towards green energy from renewable sources such as wind and solar energy. This inhibits market growth to a major extent.
Key players in the market include BASF SE, Sinopec Limited, ExxonMobil, The Dow Chemical Company, Shell Chemical Company, SABIC, LyondellBasell Industries, Total S.A., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical Company LLC and E. I. du Pont de Nemours and SNPC, INEOS, Reliance Industries.

View this full report: https://www.coherentmarketinsights.com/ongoing-insight/petrochemicals-market-268

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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Coherent Market Insights
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