Market Revenue Petrochemical Industry Competitive Situation

Petrochemical Industry Competitive Situation and Trends,
Capacity By 2025
“Petrochemicals are important to products used in day to day life.
Petrochemicals are mainly utilized as chemical building blocks in a lot of
materials and applications. Propylene, ethylene, benzene are widely used in
various end use industries such as plastics.”
Industry Insights
The global Petrochemical Market was valued at USD 419.4 billion in 2015. Rise in demand of petrochemical
from end use industries such as consumer goods and manufacturing along with favourable government
regulations specifically in Asia Pacific is expected to fuel the market growth over the forecast period.
Petrochemicals are important to products used in day to day life. Petrochemicals are mainly utilized as chemical
building blocks in a lot of materials and applications. Propylene, ethylene, benzene are widely used in various
end use industries such as plastics, rubber, electronics and packaging.Major industries such as automobiles,
chemicals, textile and packaging have shifted their manufacturing base from western countries to countries in
Asia Pacific such as India, China, Thailand and Indonesia owing to low labour cost and favourable government
regulations. This is expected to drive growth for the market.
Large amount of money spent on construction in Asia Pacific region for developing commercial and residential
building is projected to drive growth for the industry. Product applications in construction industry include
manufacturing of adhesive, concrete, fibres, resins and plastics. These materials require products such as
polyurethane, polyethylene, methanol and styrene. Moreover, with high construction spending particularly in
emerging markets of Latin America and Asia Pacific for building non-residential buildings such as institutions
and offices are expected to fuel growth over the forecast period.
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