Market Research Reports - Ken Research Global Petrochemicals Market Research Report

Global Petrochemicals Market to Proliferate With Increasing Demands: Ken Research
The largest market and most dominant region in the global petrochemicals market in 2016 has
been observed as Asia due to the presence of a robust manufacturing industry in China and
South East Asia which have prolonged the usage of petrochemicals on a large scale. Europe and
America have turned out to be the second and third largest markets for petrochemicals
respectively after Asia.
One of the key drivers that are expected to drive the petrochemicals industry in the period
2016-2020 is the expected increase in demand of the products by the Packaging industry. The
growth in the demand for plastics packaging globally has been recorded, mainly due to the
growth in those industries which consume products of plastic packaging. Due to the increasing
keenness on the side of the producers to have an enhanced packaging of their products, the
packaging industry is growing considerably, both in terms of revenue growth and in product
innovation. Also, Asia is a leading end-user market for many products of petrochemicals
industry, which is resulting in the growth of the industry significantly.
The report titled, “Petrochemicals Market Global Report 2017”, focuses on the global
petrochemical market and covers various characteristics of the market like its shape and size.
The report also lays forth the competitive landscape of the global petrochemicals market and
gives a detailed analysis of the key players in the market, their revenues, descriptions and
market shares. The main products involved in the petrochemical industry are Benzene,
Propylene, Ethylene, Toluene, Xylene, Styrene, and Cumene and the various dominant regions
are Asia, Europe, Middle East, Oceania, Africa etc.
Today, the petrochemical industry has become indispensable owing to the enormous role it
plays in the manufacturing and various consumption sectors which roll out products like
plastics, paint, dyes, rubber, fertilizers, detergents, textiles and solvents. In the beginning of the
21st century, Middle East has emerged as a production hub for petrochemical products due to
availability of the low cost feedstock for the industry and due to the rapid growth in demand in
China for petrochemical products, the major consumption centers are shifting from Europe and
America to Asia.
The chemical intensive and export driven manufacturing industries of China are demanding
petrochemical products like never before and thereby giving rise to increased consumption in
those regions. India has also emerged as a high consumption region globally.
The emergence of state-run National Chemicals and Oil Companies as important players in the
global petrochemical market has forced the established companies of the West to exit or shrink
themselves in size or realign themselves by partnering with the National companies being
established in the Eastern regions so that they can mark their presence in the areas with large