To use all functions of this page, please activate cookies in your browser.
With an accout for my.chemeurope.com you can always see everything at a glance – and you can configure your own website and individual newsletter.
- My watch list
- My saved searches
- My saved topics
- My newsletter
Global Petrochemicals Market is Expected to Reach USD 791.05 Billion in 2018
15-07-2013: According to a new market report published by Transparency Market Research "Petrochemicals Market by Product (Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Vinyls, Styrene and Methanol) - Global and China Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global petrochemicals market was valued at USD 472.06 billion in 2011 and is expected to reach USD 791.05 billion by 2018, growing at a CAGR of 6.7% from 2012 to 2018. In terms of volume, the global petrochemicals consumption was 436.86 million tons in 2011 and is expected to reach 627.51 million tons by 2018, growing at a CAGR of 5.4% from 2012 to 2018.
Growing consumption from major end use industries including construction, packaging, transportation, textile, plastics, healthcare and so on coupled with favorable operating conditions mainly in the Middle East and Asia Pacific is expected to drive the global market for petrochemicals over the next five years. Government initiatives in India and China to set up petrochemical complexes in the region are also expected to fuel the market growth. The rapid exploration and development of unconventional gases such as shale gas is also expected to provide feedstock advantage to petrochemical producers. However, volatile raw material prices and growing environmental concerns regarding the production and usage of various petrochemicals are expected to be a key challenge for market participants. Regulatory intervention has resulted in the industry shifting focus towards developing bio-based alternatives for petrochemicals.
China was the leading consumer of petrochemicals and accounted for over 25% of the global consumption in 2011. Along with being the largest market, China is also expected to be fastest growing market, at a CAGR of 6.7% from 2012 to 2018, owing its significant downstream processing capacity. Asia Pacific including China accounted for over 45% of the total demand in 2011. North American market for petrochemicals is expected to be driven by rapid development of shale gas in the U.S.
The global market for petrochemicals is highly fragmented in nature. Top ten companies accounted for just over 49% of the total petrochemicals market in 2011. BASF, Sinopec and Exxon Mobil were the largest petrochemical manufacturers and together accounted for nearly 20% of the total market share in 2011. Major industry participants have fully integrated operations from extraction of crude oil and natural gas to production of petrochemical derivatives. Some of the other players operating in the global petrochemical market include Chevron Phillips, Dow Chemical, Company, Ineos, LyondellBasell, National Petrochemical Co., PetroChina, SABIC, Shell Chemicals and Total among some other companies.
Contact Sheela AK 90 Sate Street, Suite 700 Albany, NY 12207 Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email: Visit: http://de.transparencymarketresearch.com Visit: http://www.europlat.org Visit: http://transparencymarketresearch.areavoices.com Visit: http://www.transparencymarketresearch.com
- market research
- 1Caflon® surfactants from Univar as substitutes for banned nonylphenol ethoxylates
- 2New Fluka and Riedel-de Haën Catalog Features Over 1,500 New Products
- 3ICIS Top 100 Chemical Companies Unveiled
- 4Largest and most efficient BOPP line for Africa
- 5Drew Industrial Division of Ashland Specialty Chemical Company purchases industrial water-treatment business of London-based Fernox
- 6Knoll AG: Pharma business sold for $6.9 billion:
- 7Univar to Acquire Quaron
- 8Bayer CropScience: New rice fungicide isotianil granted regulatory approval in Japan
- 9Dow Announces Shutdown of Union Carbide Manufacturing Facility in Bound Brook, New Jersey
- 10Stockhausen, a subsidiary of Degussa, develops a special product for de-inking and de-watering of sludge
- Frost & Sullivan: Political Acceptance of Shale Gas as a Fuel Will Affect th ...
- Ceresana Analyzes the Global Market for Xylene
- Ceresana Analyses the Global Market for Solvents
- Important Petrochemical: Ceresana Analyzes Entire Chinese Propylene Value Chain
- Important Feedstock for the Chemical Industry: Ceresana Analyzes the Global ...