Global Petrochemical Market is Expected to Reach Around USD 890 Billion by 2020
Global demand for petrochemical market was valued at USD 550 billion in 2014 and is expected to reach USD 890 billion in 2020, at a CAGR of around 6.5% between 2015 and 2020.
Zion Research has published a new report titled “Petrochemical (Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Vinyl, Styrene and Methanol) Market: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020” According to the report, global demand for petrochemical market was valued at USD 550 billion in 2014 and is expected to reach USD 890 billion in 2020, growing at a CAGR of around 6.5% between 2015 and 2020.
Browse the full "Global Petrochemical Market: Industry Perspective, Comprehensive Analysis and Forecast 2014 – 2020" report at http://www.marketresearchstore.com/report/global-petrochemical-market-z37559
Growing demand from key end user inductees including construction, packaging, transportation, textile, plastics, healthcare etc., coupled with favorable operating conditions mainly in the Middle East and Asia Pacific is expected to drive the global market for petrochemicals over the next five years. Strong growth of these end-use industries is the major driving factor for global petrochemical market.
Get Request Sample @ http://goo.gl/KyqSjK
On the basis of product segment petrochemicals market is segmented into ethylene, propylene, butadiene, benzene, xylene, toluene, vinyl, styrene and methanol. Ethylene was the most dominating petrochemical product, accounting for about 25% of the global petrochemicals market in 2014. Ethylene is primarily used in the manufacture of polypropylene and propylene oxide. Methanol is projected to be the fastest growing segment from 2014 to 2020. Growth of methanol is directly related to its increasing usage in gasoline blending and methanol to olefins (MTO) processes. Other petrochemicals such as butadiene, benzene, xylene, toluene, vinyl and styrene accounted for a significant portion of the global petrochemicals market share in 2013.
The manufacturing companies of petrochemicals have a significant impact on the value chain through a higher degree of forward integration. These companies manufacture raw materials as well as the final product and use it in various product types such as ethylene, propylene, butadiene, benzene, xylene, toluene, vinyl, styrene and methanol. BASF SE, ExxonMobil, The Dow Chemical Company, Shell Chemical Company, SABIC, Sinopec Limited, Lyondell Basell Industries, Total S.A., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical Company LLC and E. I. du Pont de Nemours and Company are some important competitors in petrochemicals market. The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market.
Get Illustrative Sample before buying: http://goo.gl/Y91Wps
Global Petrochemicals Market: Product Segment Analysis
Global Petrochemicals Market: Regional Segment Analysis
Source: Free Articles from ArticlesFactory.com
ABOUT THE AUTHOR
Zion Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Zion Research experienced team of Analysts, Researchers, and Consultants uses proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.