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In 2022, the size of the petrochemicals market was estimated at USD 501.09 billion. According to projections, the petrochemicals sector will expand from USD 565.55 billion in 2023 to USD 1017.48 billion in 2030, with a compound annual growth rate (CAGR) of 10.26% over the forecast period (2023 - 2030). Chemicals made from petroleum or natural gas are known as petrochemicals. Typically, they are used as raw materials in the manufacture of a variety of consumer and industrial items, including plastics, fertilisers, drugs, and synthetic fibres. By breaking down the hydrocarbons in crude oil or natural gas into smaller molecules that may be utilised as feedstock for the synthesis of other chemicals, a process known as cracking is employed to create petrochemicals. With enormous economic and environmental effects, the petrochemical sector is a large global business.
Petrochemicals are chemical substances generated from crude oil or natural gas that are used as a feedstock to create a variety of goods, such as plastics, rubber, fibres, solvents, detergents, and adhesives. Crude oil or natural gas liquids are refined to create petrochemicals, which are then subjected to additional chemical processing. The petrochemical industry produces ethylene oxide, propylene oxide, vinyl chloride, and acrylonitrile, among other chemicals. These substances are used in the production of a variety of goods, including resins, synthetic fibres, and plastics.
It is anticipated that the emergence of new petrochemical applications would open up prospective prospects for the key companies functioning in the global market. The production of thermoplastics will more than double between 2020 and 2050, according to information released by the International Energy Agency in 2018 to meet global consumer demand. Major players in the global petrochemical industry are also improving their capacity to strengthen positions. Except for Europe, almost all areas will expand their production of primary chemicals until 2050, according to statistics from the IEA's petrochemicals study.
One of the primary business strategies used by manufacturers in the global petrochemicals sector to assist customers and grow the market sector is local manufacturing to reduce operational costs. By supporting R&D projects, major market participants including BASF SE, Sumitomo Chemical Company, Reliance Industries Limited, DowDuPont, Royal Dutch Shell, and others hope to boost market demand.
Intermediates, performance materials, petrochemicals, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals are all products that BASF manufactures and sells. The company's operations are divided into six business segments: Agricultural Solutions, Chemicals, Industrial Solutions, Materials, and Nutrition and Care. The business provides services to the agribusiness, consumer products, energy and resource, construction, electronics, transportation, and building industries.
In the building and construction industry, petrochemicals are employed in the production of many different products with a wide range of applications. Paints, coatings, adhesives, and thermal insulation are just a few of the materials that are made with the help of petrochemical goods. Increased investment in the building and construction industry is driving up the price of petrochemicals.
Report Coverage
Global Petrochemicals research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Petrochemicals report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Petrochemicals competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Petrochemicals market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Petrochemicals market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Petrochemicals market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BASF, SABIC, TOTAL, Indian Oil Corporation Limited, Chevron Phillips Chemical Company, BP PLC, Sumitomo Chemical Company, Reliance Industries Limited, DowDuPont, Royal Dutch Shell
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Petrochemicals market based on the below-mentioned segments:
Global Petrochemicals Market, By Type
Ethylene
Propylene
Butadiene
Benzene
Toluene
Xylene
Methanol
Global Petrochemicals market, By Application
Polymers
Paints and Coatings
Solvents
Rubber
Adhesives and Sealants
Surfactants
Dyes
Other
Global Petrochemicals market, Regional Analysis
Petrochemicals are chemical substances generated from crude oil or natural gas that are used as a feedstock to create a variety of goods, such as plastics, rubber, fibres, solvents, detergents, and adhesives. Crude oil or natural gas liquids are refined to create petrochemicals, which are then subjected to additional chemical processing. The petrochemical industry produces ethylene oxide, propylene oxide, vinyl chloride, and acrylonitrile, among other chemicals. These substances are used in the production of a variety of goods, including resins, synthetic fibres, and plastics.
It is anticipated that the emergence of new petrochemical applications would open up prospective prospects for the key companies functioning in the global market. The production of thermoplastics will more than double between 2020 and 2050, according to information released by the International Energy Agency in 2018 to meet global consumer demand. Major players in the global petrochemical industry are also improving their capacity to strengthen positions. Except for Europe, almost all areas will expand their production of primary chemicals until 2050, according to statistics from the IEA's petrochemicals study.
One of the primary business strategies used by manufacturers in the global petrochemicals sector to assist customers and grow the market sector is local manufacturing to reduce operational costs. By supporting R&D projects, major market participants including BASF SE, Sumitomo Chemical Company, Reliance Industries Limited, DowDuPont, Royal Dutch Shell, and others hope to boost market demand.
Intermediates, performance materials, petrochemicals, monomers, dispersions and pigments, performance chemicals, catalysts, coatings, and care chemicals are all products that BASF manufactures and sells. The company's operations are divided into six business segments: Agricultural Solutions, Chemicals, Industrial Solutions, Materials, and Nutrition and Care. The business provides services to the agribusiness, consumer products, energy and resource, construction, electronics, transportation, and building industries.
In the building and construction industry, petrochemicals are employed in the production of many different products with a wide range of applications. Paints, coatings, adhesives, and thermal insulation are just a few of the materials that are made with the help of petrochemical goods. Increased investment in the building and construction industry is driving up the price of petrochemicals.
Report Coverage
Global Petrochemicals research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Petrochemicals report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Petrochemicals competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Petrochemicals market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | BASF, SABIC, TOTAL, Indian Oil Corporation Limited, Chevron Phillips Chemical Company, BP PLC, Sumitomo Chemical Company, Reliance Industries Limited, DowDuPont, Royal Dutch Shell |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Petrochemicals Market from 2021 to 2030.
- Market Forecast for Petrochemicals Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Petrochemicals competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Petrochemicals
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Petrochemicals market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Petrochemicals market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BASF, SABIC, TOTAL, Indian Oil Corporation Limited, Chevron Phillips Chemical Company, BP PLC, Sumitomo Chemical Company, Reliance Industries Limited, DowDuPont, Royal Dutch Shell
Primary Target Market
- Market Players of Petrochemicals
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Petrochemicals market based on the below-mentioned segments:
Global Petrochemicals Market, By Type
Ethylene
Propylene
Butadiene
Benzene
Toluene
Xylene
Methanol
Global Petrochemicals market, By Application
Polymers
Paints and Coatings
Solvents
Rubber
Adhesives and Sealants
Surfactants
Dyes
Other
Global Petrochemicals market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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