New Research: Lucintel Predicts a Bright Future for Basic Petrochemical Market

Did you know that Lucintel recently published a market research report entitled “Growth Opportunities in the Global Basic Petrochemical Market”?

This market report for basic petrochemical identifies and predicts future opportunities for growth in global basic petrochemical industry for various segments as well as for various regions such as North America, Europe, Asia Pacific, and the Rest of the World. It also identifies growth opportunities for basic petrochemical in the construction, transportation, agriculture, textile, industrial, electronics, healthcare and consumer goods industries.

According to Lucintel’s market report, the global basic petrochemical market is expected to reach an estimated $603.2 billion by 2021 and is forecast to grow at a CAGR of 4.9% from 2016 to 2021. Some of the dominant players in the global basic petrochemical market are Saudi Basic Industry Corporation, LyondellBasell, Exxon Mobil, and Royal Dutch Shell.

There are some interesting developments in global basic petrochemical market as competition heats up and players try to increase their market share. Some of the emerging trends shaping the market dynamics include capacity migration to low cost locations and US shale gas boom has renewed competitive advantage to the sector.

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