Petrochemical Market - Global Market Share, Trends, Analysis and Forecasts, 2023 - 2032

Report code : IS207, Status : Published, Published on: Jul, 2023, Pages : 180 Pages, Format : PDF/PPT/Excel

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Description

The global petrochemical market was estimated to be US$ 585.8 Billion in 2022 and is expected to reach US$ 1,130.91 Billion by 2032 at a CAGR of 6.8%.

Petrochemical industry deals with the production and trade of petroleum chemicals worldwide. Petrochemicals are compounds that are obtained primarily from petroleum or other hydrocarbons, which are produced from natural gas and crude oil. These compounds are used as building blocks for a range of applications and materials. The petrochemical industry sources raw materials from the petroleum industry to manufacture products such as synthetic fibers, plastic resins, surface coating materials, synthetic rubbers, and various types of adhesives.

The petrochemical industry can be further classified based on upstream, intermediate, and downstream operations. The two major feedstocks for the petroleum industry include natural gas, and naphtha. The type of feedstock also determines the manufacturing process used by manufacturing plants. The global petrochemicals market is driven by high growth in key end-use industries including automobile, packaging, and construction. Moreover, raw material availability in the Middle East is high as it is one of the world’s largest producers and exporters of crude oil and natural gas. This is also driving the global petrochemical industry as high demand is met by equal supply capability. Furthermore, emerging economies such as India and China are witnessing high demand for petrochemicals from various end-user industries and government initiatives to promote local manufacturing in India is also driving the demand for petrochemicals in the Asia Pacific region. On the contrary, environmental concerns related to the use of petrochemicals has prompted high investments in bio-based chemicals by the public and commercial sector. This trend is expected to continue over the forecast period and hamper the global petrochemicals market growth. In 2017, among different types of petrochemical products, Ethylene held the largest market share of over 25% of the global petrochemicals market in 2017.

Propylene followed Ethylene in terms of market share wherein Propylene is utilized in the production of propylene oxide and polypropylene. Whereas, Methanol product is expected to be the fastest growing segment from 2023 to 2032. The high growth of methanol is linked to its rising usage in methanol to olefins (MTO) and gasoline blending. Other products such as benzene, butadiene, xylene, vinyls, toluene, and styrene also accounted for a significant share in the global petrochemicals market share in 2017. Among the geographies, Asia Pacific held the largest market share occupying more than 40% of the global petrochemical market in 2017.

The global petrochemical market has been witnessing high demand from China and growth in construction and automotive sector in regions such as India and Southeast Asia are also driving the petrochemicals industry in Asia Pacific. Furthermore, North America is expected to grow at a CAGR of about 7.7% whereas the market in Europe is expected to witness further gains expanding at a CAGR of 7.9% from 2018 to 2024. Besides, in Latin America, the growth in automotive industry coupled with demand for petrochemicals from end-use industries is expected to play significant role. South America is anticipated to hold nearly 12.8% of the market share in 2017.

Some of the active and key players in the global petrochemical market include BASF SE, ExxonMobil, The Dow Chemical Company, Shell Chemical Company, SABIC, Sinopec Limited, LyondellBasell Industries, Total S.A., Sumitomo Chemical Co. Ltd., E. I. du Pont de Nemours and Company and Chevron Phillips Chemical Company LLC.

Market Segmentation:

By End-Use Industry

Including Automobile
Packaging
Construction

By Geography

North America
Europe
Asia Pacific
Middle East & Africa
South America

Table Of Content

Introduction
- Research Objectives
- Report Assumptions
- Research Methodology
- Abbreviations
Preface
- Market Definition
- Report Scope and Market Segmentation
- Research Highlights
Market Synopsis: Global Petrochemical Market
Global Petrochemical Market Qualitative Analysis
- Ecosystem Analysis
  - Role of participants
  - Integration scenario
- Trends
  - Market trends
  - Technology Trends
- PESTLE Analysis (For 5 prominent countries)
- Market Influencers
  - Driving Forces
  - Hindering Forces
  - Opportunities
- COVID-19 impact
- Supply Demand Analysis
- Price trend (2018 – 2020)
Global Petrochemical Market Analysis and Forecast, by Product Type
- Overview and definitions
- Key segment analysis
- Global Petrochemical Market Sales Estimates (Value: US$ Mn, Volume: Tons and Price: US$), by Product Type, 2019 – 2032
  - Ethylene
    - Polyethylene
    - Ethylene oxide
    - Ethylene dichloride
    - Ethylbenzene
    - Linear alpha-olefins
  - Propylene
    - Polypropylene
    - Propylene oxide
    - Acrylonitrile
    - Cumene
    - Acrylic acid
    - Oxo alcohols
  - Methanol
    - Formaldehyde
    - Fuel applications
    - Acetic acid
    - Methanol-to-olefins/methanol-to-propylene
    - Methyl methacrylate
  - Butadiene 40 Polybutadiene 42
    - Styrene-butadiene rubber
    - Styrene-butadiene latexes
    - Nitrile elastomers
    - ABS resins
    - Adiponitrile
  - Benzene
    - Ethylbenzene
    - Cumene
    - Cyclohexane
    - Nitrobenzene
    - Alkylbenzene
    - Chlorobenzene
  - Toluene
    - Benzene / mixed xylenes
    - Gasoline blending
    - Toluene diisocyanate
    - Benzoic acid
  - Xylenes 53 para-Xylene 56
    - ortho-Xylene
    - meta-Xylene
    - Gasoline blending
    - Solvents57
  - Ammonia

Global Petrochemical Market Analysis and Forecast, by Region
- Overview and definitions
- Key segment analysis
- North America Petrochemical Market Estimates (US$ Mn), by Region, 2019 – 2032
  - North America
  - Europe
  - Asia Pacific
  - Middle East & Africa
  - South America

North America Petrochemical Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Global Petrochemical Market Sales Estimates (Value: US$ Mn, Volume: Tons and Price: US$), by Product Type, 2019 – 2032
  - Ethylene
    - Polyethylene
    - Ethylene oxide
    - Ethylene dichloride
    - Ethylbenzene
    - Linear alpha-olefins
  - Propylene
    - Polypropylene
    - Propylene oxide
    - Acrylonitrile
    - Cumene
    - Acrylic acid
    - Oxo alcohols
  - Methanol
    - Formaldehyde
    - Fuel applications
    - Acetic acid
    - Methanol-to-olefins/methanol-to-propylene
    - Methyl methacrylate
  - Butadiene 40 Polybutadiene 42
    - Styrene-butadiene rubber
    - Styrene-butadiene latexes
    - Nitrile elastomers
    - ABS resins
    - Adiponitrile
  - Benzene
    - Ethylbenzene
    - Cumene
    - Cyclohexane
    - Nitrobenzene
    - Alkylbenzene
    - Chlorobenzene
  - Toluene
    - Benzene / mixed xylenes
    - Gasoline blending
    - Toluene diisocyanate
    - Benzoic acid
  - Xylenes 53 para-Xylene 56
    - ortho-Xylene
    - meta-Xylene
    - Gasoline blending
    - Solvents57
  - Ammonia
- North America Petrochemical Market Estimates (US$ Mn), Country, 2019 – 2032
  - The U.S.
  - Canada
  - Rest of North America

Europe Petrochemical Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Europe Petrochemical Market Sales Estimates (Value: US$ Mn, Volume: Tons and Price: US$), by Product Type, 2019 – 2032
  - Ethylene
    - Polyethylene
    - Ethylene oxide
    - Ethylene dichloride
    - Ethylbenzene
    - Linear alpha-olefins
  - Propylene
    - Polypropylene
    - Propylene oxide
    - Acrylonitrile
    - Cumene
    - Acrylic acid
    - Oxo alcohols
  - Methanol
    - Formaldehyde
    - Fuel applications
    - Acetic acid
    - Methanol-to-olefins/methanol-to-propylene
    - Methyl methacrylate
  - Butadiene 40 Polybutadiene 42
    - Styrene-butadiene rubber
    - Styrene-butadiene latexes
    - Nitrile elastomers
    - ABS resins
    - Adiponitrile
  - Benzene
    - Ethylbenzene
    - Cumene
    - Cyclohexane
    - Nitrobenzene
    - Alkylbenzene
    - Chlorobenzene
  - Toluene
    - Benzene / mixed xylenes
    - Gasoline blending
    - Toluene diisocyanate
    - Benzoic acid
  - Xylenes 53 para-Xylene 56
    - ortho-Xylene
    - meta-Xylene
    - Gasoline blending
    - Solvents57
  - Ammonia
- Europe Petrochemical Market Estimates (US$ Mn), Country, 2019 – 2032
  - Germany
  - United Kingdom
  - Belgium
  - France
  - Netherlands
  - Rest of Europe

Asia Pacific Petrochemical Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Asia Pacific Petrochemical Market Sales Estimates (Value: US$ Mn, Volume: Tons and Price: US$), by Product Type, 2019 – 2032
  - Ethylene
    - Polyethylene
    - Ethylene oxide
    - Ethylene dichloride
    - Ethylbenzene
    - Linear alpha-olefins
  - Propylene
    - Polypropylene
    - Propylene oxide
    - Acrylonitrile
    - Cumene
    - Acrylic acid
    - Oxo alcohols
  - Methanol
    - Formaldehyde
    - Fuel applications
    - Acetic acid
    - Methanol-to-olefins/methanol-to-propylene
    - Methyl methacrylate
  - Butadiene 40 Polybutadiene 42
    - Styrene-butadiene rubber
    - Styrene-butadiene latexes
    - Nitrile elastomers
    - ABS resins
    - Adiponitrile
  - Benzene
    - Ethylbenzene
    - Cumene
    - Cyclohexane
    - Nitrobenzene
    - Alkylbenzene
    - Chlorobenzene
  - Toluene
    - Benzene / mixed xylenes
    - Gasoline blending
    - Toluene diisocyanate
    - Benzoic acid
  - Xylenes 53 para-Xylene 56
    - ortho-Xylene
    - meta-Xylene
    - Gasoline blending
    - Solvents57
  - Ammonia
- Asia Pacific Petrochemical Market Estimates (US$ Mn), Country, 2019 – 2032
  - Japan
  - India
  - China
  - South Korea
  - Australia
  - Rest of Asia Pacific

Middle East & Africa Petrochemical Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- Middle East & Africa Petrochemical Market Sales Estimates (Value: US$ Mn, Volume: Tons and Price: US$), by Product Type, 2019 – 2032
  - Ethylene
    - Polyethylene
    - Ethylene oxide
    - Ethylene dichloride
    - Ethylbenzene
    - Linear alpha-olefins
  - Propylene
    - Polypropylene
    - Propylene oxide
    - Acrylonitrile
    - Cumene
    - Acrylic acid
    - Oxo alcohols
  - Methanol
    - Formaldehyde
    - Fuel applications
    - Acetic acid
    - Methanol-to-olefins/methanol-to-propylene
    - Methyl methacrylate
  - Butadiene 40 Polybutadiene 42
    - Styrene-butadiene rubber
    - Styrene-butadiene latexes
    - Nitrile elastomers
    - ABS resins
    - Adiponitrile
  - Benzene
    - Ethylbenzene
    - Cumene
    - Cyclohexane
    - Nitrobenzene
    - Alkylbenzene
    - Chlorobenzene
  - Toluene
    - Benzene / mixed xylenes
    - Gasoline blending
    - Toluene diisocyanate
    - Benzoic acid
  - Xylenes 53 para-Xylene 56
    - ortho-Xylene
    - meta-Xylene
    - Gasoline blending
    - Solvents57
  - Ammonia
- Middle East & Africa Petrochemical Market Estimates (US$ Mn), Country, 2019 – 2032
  - Saudi Arabia
  - South Africa
  - UAE
  - Rest of Middle East

South America Petrochemical Market Analysis and Forecast
- Overview and definitions
- Key segment analysis
- South America Petrochemical Market Sales Estimates (Value: US$ Mn, Volume: Tons and Price: US$), by Product Type, 2019 – 2032
  - Ethylene
    - Polyethylene
    - Ethylene oxide
    - Ethylene dichloride
    - Ethylbenzene
    - Linear alpha-olefins
  - Propylene
    - Polypropylene
    - Propylene oxide
    - Acrylonitrile
    - Cumene
    - Acrylic acid
    - Oxo alcohols
  - Methanol
    - Formaldehyde
    - Fuel applications
    - Acetic acid
    - Methanol-to-olefins/methanol-to-propylene
    - Methyl methacrylate
  - Butadiene 40 Polybutadiene 42
    - Styrene-butadiene rubber
    - Styrene-butadiene latexes
    - Nitrile elastomers
    - ABS resins
    - Adiponitrile
  - Benzene
    - Ethylbenzene
    - Cumene
    - Cyclohexane
    - Nitrobenzene
    - Alkylbenzene
    - Chlorobenzene
  - Toluene
    - Benzene / mixed xylenes
    - Gasoline blending
    - Toluene diisocyanate
    - Benzoic acid
  - Xylenes 53 para-Xylene 56
    - ortho-Xylene
    - meta-Xylene
    - Gasoline blending
    - Solvents57
  - Ammonia
- South America Petrochemical Market Estimates (US$ Mn), Country, 2019 – 2032
  - Brazil
  - Rest of South America

Competition Analysis – Petrochemical Market
- Market Composition
- Market Share Analysis (%), by Supplier (2022)
- Company Profiles
  - BASF SE
    - Business overview
    - Geographic presence
    - Product portfolio
    - Production base and capacity
    - Financial facts
    - Relevant news and strategic view
  - British Petroleum Plc
  - Chevron Corporation
  - China National Petroleum Corporation (CNPC)
  - China Petrochemical Corporation (SINOPEC)
  - DuPont de Nemours, Inc.
  - Total S.A.
  - ExxonMobil Corporation
  - Formosa Petrochemical Corporation
  - INEOS Group Ltd.
  - LyondellBasell Industries Inc.
  - Royal Dutch Shell PLC
  - SABIC
  - Saudi Arabian Oil Co.
  - Sumitomo Chemical Co., Ltd.
  - Mitsubishi Chemical Corporation
  - PetroChina Company Limited
  - Reliance Industries Limited
  - Indian Oil Corp. Ltd.

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Frequently asked questions about this report

How much is the petrochemical market worth?

The petrochemical market is expected to reach US$ 1,130.91 Billion by 2032

How much is the petrochemical market growth?

The petrochemical market is expected to grow at a CAGR of 6.8% during the period from 2023 to 2032.

What was the size of the global petrochemical market in 2022?

The petrochemical market was estimated to be US$ 585.8 Billion in 2022

What are the active and key players of petrochemical market across the globe?

What is the base year considered in the petrochemical market report?

The base year considered in petrochemical market report is 2022.