Petrochemicals Market - Industry trends, Outlook, Challenges and Key Market Players Petrochemicals are chemical compounds derived from hydrocarbons, mainly crude oil and natural gas. It can also be obtained from various renewable materials such as sugarcane and corn Petrochemicals are classified on the basis of their chemical structure, namely, olefins, aromatics, and synthesis gas hydrocarbon. Olefin hydrocarbons include ethylene and propylene, while benzene, toluene and xylene belong to the category of aromatic hydrocarbons. Various process such as FCC (fluid catalytic cracking), steam cracking, and catalytic reforming employed in refineries and chemicals plants to obtain the desired product. Petroleum products form an integral aspect 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 clothes, houses, automobiles, tooth brush, furniture, irrigation, household items, synthetic detergents, packaging, electronics, performance products, and medical equipment, among others. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/268 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 undergoing a trend of oversupply in 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. Consumer inclination towards green energy from renewable sources such as wind and solar energy, further inhibits market growth. 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, and Reliance Industries. For More Information: http://bit.ly/2SpFppR About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Email: [email protected]
Petrochemicals Market report categorizes global market by product type, manufacturing process, and geography - Industry trends, Outlook, Challenges and Key Market Players
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