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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

 

Quality Assurance Process

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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

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


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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