Global Petrochemicals Market

Global Petrochemicals Market Industry trends, Outlook,Challenges and Key
Market Players.
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REPORT DESCRIPTION
Global Petrochemicals Market:
Petrochemicals are compounds derived from hydrocarbons, generally crude and natural gas. It can also be obtained from
various renewable materials such as sugarcane and corn, among others. Furthermore it is divided into three classes as per
chemicals structures namely, olefins, aromatics, and synthesis gas hydrocarbon. Ethylene and propylene are olefin
hydrocarbons, while benzene, toluene and xylene are aromatic hydrocarbons. FCC (fluid catalytic cracking), steam
cracking and catalytic reforming are the various process employed in refineries and chemicals plants to obtain the desired
product. Petroleum products are an integral part of our daily life and find major demand across various end-use industries.
Moreover petrochemicals products find application in various everyday use products such as cloth, houses, automobiles,
tooth brush, furniture, irrigation, household items, synthetic detergent, packaging, electronics, electrical, performance
products, medical equipment, among others.
Global Petrochemicals Market Taxonomy
On the basis of product type, the global market is classified into:
●
●
●
●
●
Ethylene
Polyethylene
Ethyl benzene
Ethylene oxide
Others
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REPORT DESCRIPTION
Global Petrochemicals Market Outlook – Oversupply of Crude and
Subsequent Decline in Prices Creates Favorably Environment for Market
Growth
Large volume of feedstock or raw materials available in the Organization of Petroleum Exporting Countries (OPEC), and
rapid development of shale gas exploration in the North American region, primarily in the U.S. and Canada is expected to
create a highly conducive environment for growth of the global petrochemicals market. The basic raw materials used in
petrochemicals industry are natural gas, crude, and coal. Various products such as ethylene, propylene, benzene, methanol,
among others, are obtained from the petrochemicals industry are used as raw materials by various end-use industries
worldwide. China is one of the largest consumers of petrochemical products. Rampant growth of various end-use industries
in turn fuels demand for petroleum products, especially in emerging economies such as India and China. As per data released
by the U.S. Energy Information Administration (EIA) total liquid fuel consumption in Asia Pacific is expected to be pegged
at 33.3 million barrels per day (bpd), with China accounting for 80% of the consumption in the region. Moreover, with rapid
advancement in the shale gas technology, the U.S. and Canada are actively exploring their abundant shale gas reserves by
using hydro fracturing technology. These factors in turn are projected to provide high growth traction to the global
petrochemicals market.
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Global Petrochemicals Market challenges – Fluctuation of raw materials
price and transformation towards green energy:
Natural gas, coal and crude are the primary building blocks of petrochemicals industry. While currently the global crude oil
production is at an all-time high, the market is subjected to high fluctuations in production and pricing. This volatility is a
major challenge for players in the global petrochemicals market. The market is currently undergoing a trend of oversupply
of feed stock due to large production volumes by the OPEC and Russia. This along with the economic crisis in 2009, has
led to rapid decline in demand for crude oil in Europe and Japan. Further adding to the woes of the players in the industry is
consumer inclination towards green energy from renewable sources such as wind and solar energy. This inhibits market
growth to a major extent.
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Key players in the market include BASF SE, Sinopec Limited, ExxonMobil, The Dow Chemical Company, Shell Chemical
Company, SABIC, LyondellBasell Industries, Total S.A., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical
Company LLC and E. I. du Pont de Nemours and SNPC, INEOS, Reliance Industries.
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Petrochemicals are compounds derived from hydrocarbons, generally crude and natural gas. It can also be obtained from various renewable materials such as sugarcane and corn, among others. Furthermore it is divided into three classes as per chemicals structures namely, olefins, aromatics, and synthesis gas hydrocarbon. Ethylene and propylene are olefin hydrocarbons, while benzene, toluene and xylene are aromatic hydrocarbons. FCC (fluid catalytic cracking), steam cracking and catalytic reforming are the various process employed in refineries and chemicals plants to obtain the desired product. Petroleum products are an integral part of our daily life and find major demand across various end-use industries. Moreover petrochemicals products find application in various everyday use products such as cloth, houses, automobiles, tooth brush, furniture, irrigation, household items, synthetic detergent, packaging, electronics, electrical, performance products, medical equipment, among others.

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