According to a new market report published by Lucintel, the future of the global basic petrochemical industry looks good with opportunities in construction, transportation, agriculture, textile, industrial, electronics, healthcare and consumer goods industries. The global basic petrochemical industry 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. The major growth 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, and ammonia are some of the major segments of basic petrochemicals. Ethylene is expected to remain the largest segment due to increasing demand from various end use applications such as packaging and construction. Lucintel predicts that the demand for ethylene is likely to experience the highest growth over the forecast period due to the growth in the polyethylene film for the food and non-food packaging applications.
Asia Pacific is expected to remain the largest region and is expected to witness above average 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.
For business expansion, Lucintel’s report suggests innovation to improve oils to chemicals conversion rate and develop new crude cracking processes to reduce energy cost and environmental footprint. The report further suggests the development of partnerships to create win-win situations and the development of low-cost solutions for end users.
Emerging trends, which have a direct impact on the dynamics of the market, include capacity migration to low cost locations and US shale gas boom has renewed competitive advantage to the sector. Saudi Basic Industry Corporation, LyondellBasell, Exxon Mobil, and Royal Dutch Shell are among the major suppliers of basic petrochemicals.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global basic petrochemical industry by chemical type, application, and region, and has come up with a comprehensive research report entitled, “Growth Opportunities for the Global Basic Petrochemical Industry 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard 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 industry by chemical type, application type, and region, as follows:
By chemical type [Volume (Million Tons) and $ Billion Shipment from 2010 to 2021]:
By application type [Volume (Million Tons) 2015]:
• Ethylene market by application
o Ethylene Oxide
o Ethylene Dichloride
• Propylene market by application
o Propylene Oxide
• Butadiene market by application
o Butadiene Rubber
o Styrene Butadiene Rubber
o Acrylonitrile Butadiene Styrene
o Styrene Butadiene Latex
• Benzene market by application
• Toluene market by application
o Gasoline Blending
o Toluene Diisocyanates
• Xylene market by application
o Mixed –Xylene & Others
• Methanol market by application
o Methyl Tert-Butyl Ether
o Fuel Blending
o Acetic Acid
o Methanol to Olefins
o Dimethyl Ether
• Ammonia market by application
o Nitric Acid
By region [Volume (Million Pounds) and $ Billion Shipment from 2010 to 2021]:
• North America
• Asia Pacific
• The Rest of the World
This 137-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 firstname.lastname@example.org. Lucintel offerings include Chemical Market Research Reports, Chemical Industry Analysis Report, Opportunity Screening and Analysis, Strategic Growth Consulting and Capital Investment Analysis.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the basic petrochemical industry by chemical type (ethylene, propylene, butadiene, benzene, toluene, xylene, methanol, and ammonia), application type, and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which product 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 drivers and challenges of the market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are emerging trends in this market and the reasons behind them?
Q.7. What are some 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 activity has occurred in the last 5 years?