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Petrochemical Trends and Forecast
The future of the global petrochemical market looks promising with opportunities in the packaging, electronics, construction, and automotive markets. The global petrochemical market is expected to grow with a CAGR of 6.3% from 2024 to 2030. The major drivers for this market are expanding packaging industry and growing consumer goods sector and the rapid expansion of e-commerce, and growth in the electronics and electrical sector.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Petrochemical by Segment
The study includes a forecast for the global petrochemical by product type, end use industry, and region.
Petrochemical Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:
• Ethylene
• Propylene
• Methanol
• Xylene
• Others
Petrochemical Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:
• Packaging
• Electronics
• Construction
• Automotive
• Others
Petrochemical Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Petrochemical Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies petrochemical companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the petrochemical companies profiled in this report include-
• BASF
• Lyondellbasell Industries
• Ineos
• Shell
• Sabic
• Reliance Industries
• Mitsubishi Chemical
• Mitsubishi Chemical
• LG Chem
• Chevron Phillips Chemical
Petrochemical Market Insights
Lucintel forecasts that ethylene is expected to witness the highest growth over the forecast period due to rising usage of consumer goods, including packaging materials and household items.
Within this market, packaging will remain the largest segment due to burgeoning consumer goods sector and the swift rise of e-commerce.
APAC is expected to witness highest growth over the forecast period due to the flourishing chemicals industry and the growth in polymer consumption.
Features of the Global Petrochemical Market
Market Size Estimates: Petrochemical market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Petrochemical market size by product type, end use industry, and region in terms of value ($B).
Regional Analysis: Petrochemical market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product type, end use industry, and regions for the petrochemical market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the petrochemical market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for petrochemical market?
Answer: The global petrochemical market is expected to grow with a CAGR of 6.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the petrochemical market?
Answer: The major drivers for this market are expanding packaging industry and growing consumer goods sector and the rapid expansion of e-commerce, and growth in the electronics and electrical sector.
Q3. What are the major segments for petrochemical market?
Answer: The future of the petrochemical market looks promising with opportunities in the packaging, electronics, construction, and automotive markets.
Q4. Who are the key petrochemical market companies?
Answer: Some of the key petrochemical companies are as follows:
• BASF
• Lyondellbasell Industries
• Ineos
• Shell
• Sabic
• Reliance Industries
• Mitsubishi Chemical
• Mitsubishi Chemical
• LG Chem
• Chevron Phillips Chemical
Q5. Which petrochemical market segment will be the largest in future?
Answer: Lucintel forecasts that ethylene is expected to witness the highest growth over the forecast period due to rising usage of consumer goods, including packaging materials and household items.
Q6. In petrochemical market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period due to the flourishing chemicals industry and the growth in polymer consumption.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the petrochemical market by product type (ethylene, propylene, methanol, xylene, and others), end use industry (packaging, electronics, construction, automotive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Petrochemical Market, Petrochemical Market Size, Petrochemical Market Growth, Petrochemical Market Analysis, Petrochemical Market Report, Petrochemical Market Share, Petrochemical Market Trends, Petrochemical Market Forecast, Petrochemical Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Petrochemical Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Petrochemical Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Petrochemical Market by Product Type
3.3.1: Ethylene
3.3.2: Propylene
3.3.3: Methanol
3.3.4: Xylene
3.3.5: Others
3.4: Global Petrochemical Market by End Use Industry
3.4.1: Packaging
3.4.2: Electronics
3.4.3: Construction
3.4.4: Automotive
3.4.5: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Petrochemical Market by Region
4.2: North American Petrochemical Market
4.2.2: North American Petrochemical Market by End Use Industry: Packaging, Electronics, Construction, Automotive, and Others
4.3: European Petrochemical Market
4.3.1: European Petrochemical Market by Product Type: Ethylene, Propylene, Methanol, Xylene, and Others
4.3.2: European Petrochemical Market by End Use Industry: Packaging, Electronics, Construction, Automotive, and Others
4.4: APAC Petrochemical Market
4.4.1: APAC Petrochemical Market by Product Type: Ethylene, Propylene, Methanol, Xylene, and Others
4.4.2: APAC Petrochemical Market by End Use Industry: Packaging, Electronics, Construction, Automotive, and Others
4.5: ROW Petrochemical Market
4.5.1: ROW Petrochemical Market by Product Type: Ethylene, Propylene, Methanol, Xylene, and Others
4.5.2: ROW Petrochemical Market by End Use Industry: Packaging, Electronics, Construction, Automotive, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Petrochemical Market by Product Type
6.1.2: Growth Opportunities for the Global Petrochemical Market by End Use Industry
6.1.3: Growth Opportunities for the Global Petrochemical Market by Region
6.2: Emerging Trends in the Global Petrochemical Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Petrochemical Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Petrochemical Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: BASF
7.2: LyondellBasell Industries
7.3: INEOS
7.4: Shell
7.5: SABIC
7.6: Reliance Industries
7.7: Mitsubishi Chemical
7.8: LG Chem
7.9: Chevron Phillips Chemical
7.10: China National Petroleum
.
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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
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