Chemicals and Materials Top 15 Petrochemicals Market New | Page 2

rise in health awareness among people, decreasing quality of tap water, and increase in
tourism globally. The GGC (Gulf Cooperation Council) market for bottled water is projected
to grow by about 50% each year driven by scarcity of water and rise in population. With
rise in disposable income in the emerging economies, the demand of juices, nutrition drinks
is projected to grow at high rates in the forecast period.
Asia-Pacific - The largest market for petrochemicals
Asia-Pacific is the largest market for top 15 Petrochemicals accounting for almost 50%
share in terms of volume, globally because of presence of large number of packaging,
construction products, and textile industries in China and India. This region is expected to
dominate the market till 2021 driven by huge investments in construction projects related
to affordable housings and infrastructure. This high growth is attributed to expansion of
production capacity, competitive manufacturing costs, and others.
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Major players in Top 15 Petrochemicals Market such as Lyondell Basell (Netherlands), Dow
Chemicals Company (U.S.), SABIC (Saudi Arabia), Exxon Mobil (U.S.), and BP (U.K.) have
adopted expansion as the most important strategy especially in the U.S. region to produce
low cost ethylene from shale gas.
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