Petrochemicals Market Size, Industry Analysis By Type (Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Methanol), By Intermediate Chemicals (Methanol, Ethylene Oxide, Propylene Oxide), By Polymer (Polyethylene, Polypropylene, Polyvinyl Chloride, Polyester), By Application (Construction, Packaging, Automotive, Electrical & Electronics, Aerospace) & Region - Forecast
- PUBLISHED ON
- 2024-02-08
- NO OF PAGES
- 259
- CATEGORY
- Chemicals & Materials
Global Petrochemicals Market Analysis by Type, Intermediate Chemicals, Polymer, Application, Region and segments forecast till 2033
Market Overview
The global petrochemicals market is projected to grow from USD 323.95 Million in 2022 to a value of USD 457.18 Million in 2033, at a CAGR of 4.4%.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 323.95 Million |
Market Forecast in 2033 | USD 457.18 Million |
CAGR % 2023-2033 | 4.4% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Type, Intermediate Chemicals, Polymer, Application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | BASF SE, BP Plc, DuPont de Nemours, Inc., Total S.A., Exxon Mobil Corp., China Petroleum & Chemical Corporation, Saudi Arabian Oil Co., Sumitomo Chemical Co., Ltd., Dow, Chevron Phillips Chemical Company, LyondellBasell Industries NV, Mitsubishi Chemical Corporation, INEOS, PetroChina Company Limited, Saudi Basic Industries Corp., Idemitsu Kosan Co., Ltd., Reliance Industries Limited, Royal Dutch Shell Plc, Indian Oil Corp. Ltd. And Formosa Petrochemical Corporation. |
Petrochemicals are chemical products derived from petroleum, although many of the same chemical compounds are also obtained from other fossil fuels such as coal and natural gas or from renewable sources such as corn, sugar cane, and other types of biomass. Petrochemical production relies on the multi-phase processing of oil and associated petroleum gas. Key raw materials in the petrochemical industry include products of petroleum oil refining. Petrochemical goods include; ethylene, propylene, and benzene; source monomers for synthetic rubbers, and inputs for technical carbon. Petrochemical and petroleum products are second-level products derived from crude oil after several refining processes.
The demand for petrochemicals is attributed to an increase in the demand for downstream products from various end-use industries such as construction, pharmaceuticals, and automotive, which is a major factor driving the market. Petrochemical is a vital component for many industrial processes, and hence forms the backbone of an industrial economy. Some of the products derived from petrochemicals include tires, industrial oil, detergents, and plastics. Basic plastic derived from the product act as a building block in the manufacturing of consumer goods. End-use industries evaluate the quality of products supplied from time to time and establish procurement agreements with suppliers to purchase petrochemical derivatives in bulk and ensure their stable and seasonal supply.
Over the past few decades, the growth of the petrochemicals market has largely been driven by the growing demand from developing regions. In addition, the increasing use of low-cost gas feed-stocks, as opposed to oil-based feedstock, has largely benefited petrochemical companies over the past few years, a trend that is expected to continue during the forecast period.
Consolidation in developed markets and a rise in the number of new market entrants in developing regions are projected to drive the global petrochemicals market during the assessment period. A major share of the market can be attributed to national oil companies (NOC), international oil companies, and other companies with noteworthy petrochemical assets. Furthermore, investments in the petrochemicals market are largely being pumped by national oil companies due to the growing demand from the domestic market.
Demand To Drop Amid COVID-19 Pandemic
The outbreak of the novel COVID-19 pandemic is expected to have a strong impact on the growth of the petrochemical market in 2020. Travel restrictions, dwindling prices of oil & gas, production cuts, and growing requirement for chemicals and refined products are expected to hinder the growth of the market for petrochemicals in 2020. The ongoing efforts taken by various governments to curb the transmission of the novel coronavirus are projected to disrupt the overall supply chain of various raw materials that are used across the petrochemical market.
Type Insights
Ethylene dominated the market with a revenue share of over 40.0%. This is attributed to an increase in demand for ethylene from various industries such as construction, packaging, and transportation.
Intermediate Chemicals Insights
The Methanol segment is slated to garner significant returns over the assessment timeframe accounting for around 60% of the global demand.
Methanol is an important building block for the petrochemical industry and is used in the production of a variety of chemicals, including formaldehyde, acetic acid, and olefins. The global market share of methanol in the petrochemical industry varies depending on the specific chemical and region, but methanol is generally considered to be a significant player in the industry.
Polymer Insights
The Polyethylene (PE) segment is the largest segment of the global petrochemical market, accounting for over 30% of the total market share. This is due to its versatile properties, which make it suitable for a wide range of applications, including packaging, construction, automotive, and electronics.
Application Insights
The construction segment is slated to garner significant returns over the assessment timeframe. the petrochemical industry is expected to continue to grow in the coming years, driven by increasing demand from various end-use industries, including construction, and advancements in technology and production processes.
Regional Insights
The global petrochemicals market is further segmented further into five major countries, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Asia Pacific dominated the market with a volume share of over 50.0% in 2022.
The flourishing chemicals industry and the increase in polymer consumption are anticipated to be the key factors for the market growth in this region. Companies in the region are shifting toward natural gas liquids and other non-oil feed-stocks to cater to the rising demand for the product, along with strategizing cost-effective methods to increase sales of the products.
Competitive Analysis
BASF SE, BP Plc, DuPont de Nemours, Inc., Total S.A., Exxon Mobil Corp., China Petroleum & Chemical Corporation, Saudi Arabian Oil Co., Sumitomo Chemical Co., Ltd., Dow, Chevron Phillips Chemical Company, LyondellBasell Industries NV, Mitsubishi Chemical Corporation, INEOS, PetroChina Company Limited, Saudi Basic Industries Corp., Idemitsu Kosan Co., Ltd., Reliance Industries Limited, Royal Dutch Shell Plc, Indian Oil Corp. Ltd. And Formosa Petrochemical Corporation.
Global Petrochemicals Market- Segmental Analysis
Based on Type:
• Ethylene
• Propylene
• Benzene
• Butadiene
• Xylenes
• Toluene
Based On Intermediate Chemicals:
• Methanol
• Ethylene Oxide
• Propylene Oxide
Based On Polymer:
• Polyethylene (PE)
• Polypropylene (PP)
• Polyvinyl chloride (PVC)
• Polystyrene (PS)
• Polyester (PET)
• Acrylonitrile butadiene styrene (ABS)
Based On Application:
• Construction
• Packaging
• Automotive
• Electrical & Electronics
• Aerospace
• Consumer Goods
• Others
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Petrochemicals Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Petrochemicals Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Type in taking a key decision within the business:
• Company Share Analysis from 2020-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Card Type/Card Type
• Company Share Analysis by Product/Specification
1.
Global Petrochemicals Market Introduction
and Market Overview
1.1. Objectives
of the Study
1.2. Petrochemicals Market Definition & Description
1.3. Global
Petrochemicals Market Scope and Market Estimation
1.3.1. Global
Petrochemicals Market Size, Revenue (US$ Mn), Market CAGR (%), Market forecast
(2023-2033)
1.3.2. Global
Petrochemicals Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019-2033
1.4. Market
Segmentation
1.4.1. Type
of Global Petrochemicals Market
1.4.2. Intermediate
Chemicals of Global Petrochemicals Market
1.4.3. Polymer
of Global Petrochemicals Market
1.4.4. Application
of Global Petrochemicals Market
1.4.5. Region
of Global Petrochemicals Market
2.
Executive
Summary
2.1. Global
Petrochemicals Market Industry
Trends under COVID-19 Outbreak
2.1.1. Global
COVID-19 Status Overview
2.1.2. Influence
of COVID-19 Outbreak on Global Petrochemicals
Market Industry Development
2.2. Market
Dynamics
2.2.1. Drivers
2.2.2. Limitations
2.2.3. Opportunities
2.2.4. Impact
Analysis of Drivers and Restraints
2.3. Pricing
Trends Analysis & Average Selling Prices (ASPs)
2.4. Key
Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.
2.5. Porter’s
Five Forces Analysis
2.5.1. Bargaining
Power of Suppliers
2.5.2. Bargaining
Power of Buyers
2.5.3. Threat
of Substitutes
2.5.4. Threat
of New Entrants
2.5.5. Competitive
Rivalry
2.6. Value
Chain / Ecosystem Analysis
2.7. PEST
Analysis
2.8. Russia-Ukraine
War Impacts Analysis
2.9. Economic
Downturn Analysis
2.10. Market
Investment Opportunity Analysis (Top Investment Pockets), By Segments & By
Region
3.
Global
Petrochemicals Market Estimates &
Historical Trend Analysis (2020 - 2022)
4.
Global
Petrochemicals Market Estimates & Forecast Trend Analysis, By Type
4.1. Global
Petrochemicals Market Revenue (US$ Mn) Estimates and Forecasts, By Type, 2023
to 2033
4.1.1. Ethylene
4.1.2. Propylene
4.1.3. Benzene
4.1.4. Butadiene
4.1.5. Xylenes
4.1.6. Toluene
5.
Global
Petrochemicals Market Estimates &
Forecast Trend Analysis, By Intermediate
Chemicals
5.1. Global
Petrochemicals Market Revenue (US$ Mn) Estimates and Forecasts, By Intermediate
Chemicals, 2023 to 2033
5.1.1. Methanol
5.1.2. Ethylene
Oxide
5.1.3. Propylene
Oxide
6.
Global
Petrochemicals Market Estimates &
Forecast Trend Analysis, By Polymer
6.1. Global
Petrochemicals Market Revenue (US$ Mn) Estimates and Forecasts, By Intermediate
Chemicals, 2023 to 2033
6.1.1. Polyethylene
(PE)
6.1.2. Polypropylene
(PP)
6.1.3. Polyvinyl
chloride (PVC)
6.1.4. Polystyrene
(PS)
6.1.5. Polyester
(PET)
6.1.6. Acrylonitrile
butadiene styrene (ABS)
7.
Global
Petrochemicals Market Estimates &
Forecast Trend Analysis, By Application
7.1. Global
Petrochemicals Market Revenue (US$ Mn) Estimates and Forecasts, By Intermediate
Chemicals, 2023 to 2033
7.1.1. Construction
7.1.2. Packaging
7.1.3. Automotive
7.1.4. Electrical
& Electronics
7.1.5. Aerospace
7.1.6. Consumer
Goods
7.1.7. Others
8.
Global
Petrochemicals Market Estimates &
Forecast Trend Analysis, By Region
8.1. Global
Petrochemicals Market Revenue (US$ Mn) Estimates and Forecasts, By Region, 2023
to 2033
8.1.1. North
America
8.1.2. Europe
8.1.3. Asia
Pacific
8.1.4. Middle
East & Africa
8.1.5. South
America
9.
North America Petrochemicals
Market: Estimates & Forecast Trend
Analysis
9.1. North
America Petrochemicals Market Assessments & Key Findings
9.1.1. North
America Petrochemicals Market Introduction
9.1.2. North America
Petrochemicals Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
9.1.2.1. Based on Type
9.1.2.2. Based On Intermediate Chemicals
9.1.2.3. Based On Polymer
9.1.2.4. Based On Application
9.1.2.5. By
Country
9.1.2.5.1. The
U.S.
9.1.2.5.2. Canada
9.1.2.5.3. Mexico
10. Europe
Petrochemicals
Market: Estimates & Forecast Trend
Analysis
10.1. Europe
Petrochemicals Market Assessments & Key Findings
10.1.1. Europe
Petrochemicals Market Introduction
10.1.2. Europe
Petrochemicals Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
10.1.2.1. Based on Type
10.1.2.2. Based On Intermediate Chemicals
10.1.2.3. Based On Polymer
10.1.2.4. Based On Application
10.1.2.5. By
Country
10.1.2.5.1.
Germany
10.1.2.5.2.
U.K.
10.1.2.5.3.
France
10.1.2.5.4.
Italy
10.1.2.5.5.
Spain
10.1.2.5.6.
Russia
10.1.2.5.7.
Rest of Europe
11. Asia
Pacific Petrochemicals
Market: Estimates & Forecast Trend
Analysis
11.1. Asia
Pacific Market Assessments & Key Findings
11.1.1. Asia
Pacific Petrochemicals Market Introduction
11.1.2. Asia
Pacific Petrochemicals Market Size Estimates and Forecast (US$ Million) (2023
to 2033)
11.1.2.1. Based on Type
11.1.2.2. Based On Intermediate Chemicals
11.1.2.3. Based On Polymer
11.1.2.4. Based On Application
11.1.2.5. By
Country
11.1.2.5.1.
China
11.1.2.5.2.
Japan
11.1.2.5.3.
India
11.1.2.5.4.
Australia
11.1.2.5.5.
South Korea
11.1.2.5.6.
ASEAN
11.1.2.5.7.
Rest of Asia Pacific
12. Middle
East & Africa Petrochemicals Market: Estimates & Forecast Trend Analysis
12.1. Middle
East & Africa Market Assessments & Key Findings
12.1.1. Middle East & Africa Petrochemicals Market Introduction
12.1.2. Middle East & Africa Petrochemicals
Market Size Estimates and Forecast (US$ Million) (2023 to 2033)
12.1.2.1. Based on Type
12.1.2.2. Based On Intermediate Chemicals
12.1.2.3. Based On Polymer
12.1.2.4. Based On Application
12.1.2.5. By
Country
12.1.2.5.1.
U.A.E.
12.1.2.5.2.
Saudi Arabia
12.1.2.5.3.
Egypt
12.1.2.5.4.
South Africa
12.1.2.5.5.
Rest of Middle East & Africa
13. South
America Petrochemicals Market: Estimates & Forecast Trend Analysis
13.1. South
America Market Assessments & Key Findings
13.1.1. South
America Petrochemicals Market Introduction
13.1.2. South
America Petrochemicals Market Size Estimates and Forecast (US$ Million) (2023
to 2033)
13.1.2.1. Based on Type
13.1.2.2. Based On Intermediate Chemicals
13.1.2.3. Based On Polymer
13.1.2.4. Based On Application
13.1.2.5. By
Country
13.1.2.5.1.
Brazil
13.1.2.5.2.
Argentina
13.1.2.5.3.
Colombia
13.1.2.5.4.
Rest of South America
14. Competition
Landscape
14.1. Global
Petrochemicals Market Competition Matrix & Benchmarking, by Leading Players
/ Innovators / Emerging Players / New Entrants
14.2. Global
Petrochemicals Market Concentration & Company Market Shares (%) Analysis,
2022
15. Company
Profiles
15.1. BASF SE
15.1.1. Company
Overview & Key Stats
15.1.2. Financial
Performance & KPIs
15.1.3. Product
Portfolio
15.1.4. Business
Strategy & Recent Developments
* Similar details would be provided for all the
players mentioned below
15.2. BP Plc
15.3. DuPont de Nemours
15.4. Total S.A.
15.5. Exxon Mobil Corp.
15.6. China Petroleum & Chemical Corporation
15.7. Saudi Arabian Oil Co.
15.8. Sumitomo Chemical Co.
15.9. Dow
15.10. Chevron Phillips Chemical Company
15.11. LyondellBasell Industries NV
15.12. Mitsubishi Chemical Corporation
15.13. INEOS
15.14. PetroChina Company Limited
15.15. Saudi Basic Industries Corp.
15.16. Idemitsu Kosan Co.
15.17. Reliance Industries Limited
15.18. Royal Dutch Shell Plc
15.19. Indian Oil Corp. Ltd
15.20. Formosa Petrochemical Corporation.
15.21. Others**
16. Research Methodology
16.1. External
Transportations / Databases
16.2. Internal
Proprietary Database
16.3. Primary
Research
16.4. Secondary
Research
16.5. Assumptions
16.6. Limitations
16.7. Report
FAQs
17. Research Findings & Conclusion
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Market Research Process
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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
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Case Study- ICT Sector
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Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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