TMR Predicts Strong Growth for Petrochemicals Market, to Rise to US$ 7.0 Trillion by 2027-end Amidst Rising Demand

- According to International Energy Agency, the petrochemicals products will make up one-third demand for oil by 2030. The rising prominence of petrochemicals in various new niches will drive strong growth

- The global petrochemicals market will reach US$7.0 trillion in valuation by end of 2027. The market will rise at over 4.0% CAGR during the 2019- 2027 forecast period

- China, and Middle East continue to spur growth of petrochemicals products in the global market. China remains a key prospect as the country continues to witness over 60% new investments in the petrochemical sector

News provided by

Transparency Market Research

Mar 04, 2020, 09:00 ET

ALBANY, New York, March 4, 2020 /PRNewswire/ -- According to TMR study, the manufacturers in the petrochemicals market continues to invest in diversification of portfolios, and are moving away from traditional varieties of polymer to engineering elastomers, and plastics. The growing volatility in oil prices, and its consequent of feedstock has resulted in a pressing need for players in the petrochemicals market to find reliable, and high margin value propositions. Additionally, IMO bunker fuel regulation will also result in major supply shifts in the petrochemicals market during the forecast period.

According to TMR experts, the ethylene product promises to remain one of the largest petrochemical products in terms of volume during the forecast period. Additionally, the demand for polyethylene remains high in the global market, further providing a boost to ethylene oxide. The demand for propylene will likely expand at 5.0% CAGR during 2019-2027. The growing demand for aromatics will also make way for significant opportunities for growth in the petrochemical market during the forecast period.

Download PDF Brochure - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1316

Key Findings of the Petrochemicals Market Study:

The investments in petrochemicals in GCC will help it reach US$140 bn in 2019. Additionally, countries like Saudi Arabia are also witnessing major advancements to diversify petrochemical offerings for new applications.
Recently, the lighter chemical feedstock has made dynamic shifts to manufacturing of C4 chemicals, and aromatics. This is likely to impact production of butadiene, benzene, and paraxylene. The growing investment in petrochemicals in China will likely be focussed on new production of aromatics.
Methanol will likely remain a highly important segment for growth. The segment is expected to grow at 7.0% CAGR during the 2019-2027 period. The growing demand for methanol-based products, and rising demand in Asia Pacific will remain a major growth driver in near future. The Asia Pacific region continues to remain impressive for growth with a colossal 40% share of the total global growth.
The growing demand for shale gas and coal will likely create new opportunities for growth in the petrochemicals market. However, the development of bio-based chemicals, and significant rise in environmental issues remains the key challenge for petrochemicals market.

Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global petrochemicals Market (Product Type: Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Vinyls, Styrene, and Methanol) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027, at https://www.transparencymarketresearch.com/petrochemicals.html

Key Challenges in the Petrochemicals Market Study:

Increasing initiatives for vehicle efficiency, and growing shift towards electrification of vehicles will remain key challenges for growth for players in the petrochemicals market.
Factors such as vehicle electrification will play a key role in the new development of petrochemical products. Globally, major manufacturers have lined up electric models for sale. The growing shift towards electric along with rising environmental challenge will form a major challenge for players in the petrochemicals market during the forecast period.

View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/1316

Petrochemicals Market: Region-wise Analysis

The Asia Pacific region will likely drive highest revenue collection in the global petrochemical market in the near future. The region accounted for the highest share in 2018, and tanks to growing demand from India, and China, the region will likely pose higher growth. While soaring trade disputes between US-China continue to create new uncertainties in the global market, however, China is expected to account for a significant share of petrochemicals product in near future. New initiatives by the Saudi government like 'Saudi vision 2030' the country remains a slow cost regime for development of petrochemical products. The growing capital infusion of the Saudi government with new technology, and training labor force, will create new opportunities for growth for players in the global petrochemical market.

Petrochemicals market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.

Competitive Analysis: Petrochemicals Market

The petrochemicals market remained a highly fragmented landscape in 2018. The growing collaboration between global player, and increased need for fostering relationship continues to play a prominent role in the progress of the petrochemicals market. Some key players in the petrochemicals market are BASF SE, Shell Chemical Company, DuPont, Total S.A., and ExxonMobil

Global Petrochemicals Market: Segmentation

Products

Ethylene
Propylene
Butadiene
Benzene
Xylene
Toluene
Vinyls
Styrene
Methanol

Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,

Cryogenic Tanks Market - In terms of value, the global cryogenic tanks market was stood around US$ 900.0 Mn in 2018 and is anticipated to expand at a CAGR of more than 7% from 2019 to 2027

Synthetic Fiber Market - Growing Demand for Home Furnishings and Lightweight Automotive Parts to Drive Synthetic Fiber Market Growth. Worldwide adoption of synthetic fiber is estimated to reap over US$ 90,000 Mn revenues by 2026-end.

Bio-based Succinic Acid Market - Based on process type, the global bio-based succinic acid market is segmented into ammonium sulphate process, direct crystallization process, and electrodialysis process. Of these, ammonium sulphate process holds a major share, and is trailed by direct crystallization.

Specialty Fertilizers Market - Global specialty fertilizers market to clock a modest 5.7% CAGR for the forecast period between 2017 and 2025. Proliferating at this rate, the market will be valued at US$14,734.4 Mn by 2025 from US$8,987.3 Mn in 2016.

Naphthenic Base Oil Market - The global naphthenic base oil market is segmented on the basis of viscosity index, application, and region. Under viscosity index, the market consists of five prominent segments viz. 35-60 SUS, 80-130 SUS, 200-300 SUS, 400-800 SUS, and above 1200 SUS. From these, the 35-60 SUS segment is expected to showcase a higher demand owing to low pour point and low temperatures, thus making the product type easier to handle.

Gain access to Market Ngage, an AI-powered, real-time business intelligence that goes beyond the archaic research solutions to solve the complex strategy challenges that organizations face today. With over 15,000+ global and country-wise reports across 50,000+ application areas, Market Ngage is your tool for research on-the-go. From tracking new investment avenues to keeping a track of your competitor's moves, Market Ngage provides you with all the essential information to up your strategic game. Power your business with Market Ngage's actionable insights and remove the guesswork in making colossal decisions.

About Transparency Market Research

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

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact

Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: [email protected]
Website: http://www.transparencymarketresearch.com

SOURCE Transparency Market Research