Factors that Impact on the Top 15 Petrochemicals Market in Upcoming Years!

The Top 15 Petrochemicals report consists of basic petrochemicals, basic intermediate chemicals, and basic polymers. The basic petrochemicals market is anticipated to grow from 250.3 million tons in 2016 to 310.3 million tons by 2021, at a CAGR of 4.4% from 2016 to 2021. Growth in end-use industries such as automotive, packaging, electronics & electricals especially in the emerging regions such as the Southeast Asia and the Middle East is fueling the market growth.  

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Key Target Audience:

  • Petrochemicals Manufacturers
  • Raw Material Suppliers
  • Manufacturing Technology Providers
  • Regional Manufacturers’ Associations and General Petrochemicals Association
  • Traders, Distributors, and Suppliers Of Petrochemicals & Polymers
  • Manufacturers in End-Use Industries
  • Government and Regional Agencies and Research Organizations
  • Investment Research Firms

Majority of the global giant companies in the petrochemicals business have invested billions of dollars in the U.S. to manufacture low cost ethylene from shale gas. For instance, Shell in the U.S. announced to start an ethylene cracker plant to produce PVC, vinyl chloride, ethylene, glycol, styrene, and polystyrene. While Chinese aromatics manufactures have started investing heavily on coal to olefin technology to produce aromatics via methanol.

In the basic polymers market, packaging is projected to become the fastest-growing application especially for polymers such as polyethylene & polyethylene terephthalate (PET) resin which are used in producing soft drink bottles, and packaging bags. Companies in the PET and polyethylene market have announced big projects in China and the U.S. to cater to the rising demand for packaged food and drinks.

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Construction applications especially in the Middle East & Asia-Pacific is projected to grow at a faster rate for the PVC market, driven by rise in affordable housing projects in these regions. PVC pipes are used in water supply as well as in drainage and sewage applications and these pipes hardly find any substitutes because of its durability and low cost. For instance, the Indian Government has taken various efforts on rural water management, irrigation schemes to increase the percentage of irrigated land in the country. About 70% of PVC demand in India comes from agricultural sector, where pipes are used for crop irrigation. Similar trends are being witnessed in developing economies such as Thailand, Vietnam, and Malaysia in Southeast Asia.

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Companies such as Exxon Mobil (U.S.), Total (France), SABIC (Saudi Arabia), Dow Chemical Company (U.S.), Lyondell Basell (The Netherlands) are the dominant market players in the global petrochemicals market. The diverse product portfolio and strategically positioned R&D centers, continuous adoption of development strategies, and technological advancements are the few factors that are responsible for strengthening the market position of these companies in the market. These companies have been adopting various organic and inorganic growth strategies such as expansions, new product launches & product developments to enhance their current market share.