According to a new market report published by Lucintel, the future of the basic petrochemical market looks promising with opportunities in the packaging, automotive and transportation, construction, electrical and electronics, and healthcare market. The global basic petrochemical market is expected to reach an estimated $606 billion by 2027 with a CAGR of 3.2% from 2021 to 2027. The major drivers for this market are growing demand for basic petrochemicals in end use industries. Technological innovations aimed at improving manufacturing processes to increase product yield with higher quality are expected to have a positive impact on the petrochemical industry.
In this market, ethylene, propylene, butadiene, benzene, toluene, xylene, methanol, and ammonia are the major chemical type of basic petrochemical. Lucintel forecasts that ethylene will remain the largest segment and it is expected to witness the highest growth over the forecast period due to the growth in the polyethylene film for the food and non-food packaging applications and increasing demand from various end use applications such as packaging and construction.
Within the basic petrochemical market, construction will remain the largest end use segment over the forecast period due to its increasing usage in paints, coatings, adhesives and thermal insulation materials.
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to economic expansion in India and China and increasing usage of chemicals in different sectors, such as healthcare, automotive, construction, and others.
Emerging trends, which have a direct impact on the dynamics of the industry, include capacity migration to low cost locations and US shale gas boom has renewed Competitive Advantage to the sector. Sabic, LyondellBasell, Exxon Mobil Corp, Sinopec ltd., and Shell plc are among the major suppliers of basic petrochemical.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global basic petrochemical market by chemical type, application, end use, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Basic Petrochemical Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global basic petrochemical market by chemical type, application, end use, and region as follows:
By Chemical Type [Volume (Million Tons) and Value ($B) Shipment from 2016 to 2027]:
Ethylene
Propylene
Butadiene
Benzene
Toluene
Xylene
Methanol
Ammonia
By Application [Volume (Million Tons) and Value ($B) Shipment from 2016 to 2027]:
Polymer
Paint and Coating
Solvent
Rubber
Adhesive and Sealant
Surfactant
Dyes
Others
By End Use [Volume (Million Tons) and Value ($B) Shipment from 2016 to 2027]:
Packaging
Automotive and Transportation
Construction
Electrical and Electronics
Healthcare
Others
By Region [Volume (Million Tons) and Value ($B) Shipment from 2016 to 2027]:
Germany
The United Kingdom
France
Italy
China
Japan
India
South Korea
This 205-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link www.lucintel.com/basic-petrochemical-industry.aspx helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the global basic petrochemical market by chemical type (ethylene, propylene, butadiene, benzene, toluene, xylene, methanol, and ammonia), application (polymer, paint and coating, solvent, rubber, adhesive and sealant, surfactant, dyes, and others), end use (packaging, automotive and transportation, construction, electrical and electronics, healthcare, 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 regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are 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 being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?