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Petrochemical Market Dynamics, Growth Prospect and Consumption Analysis till 2025

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Viraj Patil

The Petrochemical Market report provides a detailed evaluation of the industry by highlighting information on different aspects which include drivers, restraints, growth opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing. It also provides a detailed analysis of global market size, regional and country-level market size, competitive landscape, impact of domestic market players and value chain optimization. Furthermore, it sheds light on the market contribution, recent developments and successful marketing strategies of leading companies.


Market Insights

The global petrochemical market was valued at USD 419.4 billion in 2015. Rise in demand of petrochemical from end use industries such as consumer goods and manufacturing along with favourable government regulations specifically in Asia Pacific is expected to fuel the market growth over the forecast period.

 

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Petrochemicals are important to products used in day to day life. Petrochemicals are mainly utilized as chemical building blocks in a lot of materials and applications. Propylene, ethylene, benzene are widely used in various end use industries such as plastics, rubber, electronics and packaging. Major industries such as automobiles, chemicals, textile and packaging have shifted their manufacturing base from western countries to countries in Asia Pacific such as India, China, Thailand and Indonesia owing to low labour cost and favourable government regulations. This is expected to drive growth for the market.


Large amount of money spent on construction in Asia Pacific region for developing commercial and residential building is projected to drive growth for the industry. Product applications in construction industry include manufacturing of adhesive, concrete, fibres, resins and plastics. These materials require products such as polyurethane, polyethylene, methanol and styrene. Moreover, with high construction spending particularly in emerging markets of Latin America and Asia Pacific for building non-residential buildings such as institutions and offices are expected to fuel growth over the forecast period. Rise in demand of derived products such as insulation materials and synthetic rubber owing to properties such as durability, flexibility, light weight and strength are expected to drive growth for the industry. Insulation materials are made up of polyethylene and polyurethane and are used in fuel tank manufacturing. Synthetic rubber is used in tire manufacturing.


Global petrochemicals outlook by product (Volume, Million Tons; Revenue, USD Billion; 2014 - 2025)

       • Ethylene

       • Propylene

       • Butadiene

       • Benzene

       • Xylene

       • Toluene

       • Vinyls

       • Styrene

       • Methanol


Key Players Analysis covered in these report

   • China Petroleum & Chemical Corporation (SINOPEC)

   • INEOS Group

   • DuPont de Nemours & Company

   • LyndollBasell Industries Inc

   • BDR Thermea Group

   • China National Petroleum Corporation and many others


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China had a valuation of over USD 120 billion in 2014 and hence was the largest regional market. It is expected to witness strong growth owing to a strong demand from end use industries including packaging, construction and transportation. Growing commercialization and rapid industrialization is expected fuel growth.


With major players shifting their manufacturing bases to China owing to the conducive business environment. Some of the major domestic players in China are CNPC and SINOPEC. Rest of Asia is estimated to grow at a CAGR of over 9% during the forecast period. With increase in population base along with booming industrial sector in aforementioned countries, the market is expected to witness substantial growth.


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