Market Revenue Petrochemical Industry Competitive Situation | Page 3

With major players shifting their manufacturing bases to China owing to the conducive business environment.
Some of the major domestic players in China are CNPC and SINOPEC. Rest of Asia is estimated to grow at a CAGR
of over 9% during the forecast period. With increase in population base along with booming industrial sector in
aforementioned countries, the market is expected to witness substantial growth.
North America accounted for over 13% of the total market volume in 2014. With high shale gas exploration
activities in Canada and US, the region is projected to witness substantial growth. Growing demand of Benzene
and Xylene from end-use industries such as lamination and packaging is expected to fuel growth for the industry
over the forecast period.
Competitive Insights
Petrochemical market is highly fragmented. Small companies are been acquired by large companies to expand
their manufacturing base. More and more manufacturing units have shifted their manufacturing units to Middle
East and Asia Pacific owing to low labour cost and favourable government regulations.
The market is highly fragmented. Domestic companies are been acquired by large companies to expand their
manufacturing base. There is a shift of manufacturing units to Asia Pacific and the Middle East owing to
favourable government regulations and low labour costs. Some of the major players operating in the market
include The Dow Chemical Company, BASF, Chevron Corporation and ExxonMobil.
Some of the other prominent manufactures include China Petroleum & Chemical Corporation (SINOPEC), INEOS
Group Ltd., E.I. DuPont de Nemours & Company, LyndollBasell Industries Inc., BDR Thermea Group, China
National Petroleum Corporation, Royal Dutch Shell PLC, and SABIC.
Market Segmentation
Global petrochemicals outlook by product (Volume, Million Tons; Revenue, USD Billion; 2014 - 2025)
• Ethylene
• Propylene
• Butadiene
• Benzene
• Xylene
• Toluene
• Vinyls
• Styrene
• Methanol
Petrochemicals outlook by region (Volume, Million Tons; Revenue, USD Billion; 2014 - 2025)
• North America