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Global Petrochemicals Market: By Product: Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Methanol; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Petrochemicals Market Outlook

The global petrochemicals market stood at a value of around USD 419 billion in 2020. The market is further expected to grow at a CAGR of 6.6% in the forecast period of 2022-2027 to attain a value of around USD 620.5 billion by 2026.

 

Global Petrochemicals Market

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Increased Demand for Ethylene to Bolster the Market Growth of the Global Petrochemicals Industry

Based on product, the ethylene segment is predicted to account for a substantial market share in the petrochemicals industry. This increase can be associated with the multifaceted application potential of ethylene as a feedstock in the construction, packaging, and transportation industries, among others. Moreover, the other derivatives that can be synthesised from ethylene include polyethylene, ethylene oxide, ethylene dichloride (EDC), ethylbenzene, and styrene. Furthermore, the polypropylene segment is also predicted to witness a steady growth in the forecast period due to its heightened implementation in the automotive and electronic industries.

 

The Asia Pacific to Occupy a Substantial Market Share in the Global Petrochemicals Industry

The Asia Pacific is expected to occupy a substantial share of the petrochemicals industry in the forecast period. This growth can be attributed to the growing demand for petrochemicals in the region owing to its heightened application scope in many industry verticals such as automotive, consumer and industrial goods, electrical and electronics, food and beverages, and healthcare. Moreover, the increased public investments in the construction industry, owing to the rapidly increasing population, is also contributing to the heightened demand for petrochemicals in the region, which is expected to positively impact the industry growth.

 

Petrochemicals: Market Segmentation

Petrochemicals are chemical by-products that are extracted from hydrocarbon through the process of refining. These hydrocarbons are obtained from natural gas and oils. Petrochemicals are an essential element of the chemical industry, as the demand for synthetic materials continues to grow in the market. In addition, petrochemicals produced by the process of distillation of crude oil, petroleum gases, naphtha, kerosene, and gas oil are the main feedstocks for the petrochemicals industry. In contrast, ethane, propane, and natural gas liquids extracted from natural gas are the other essential feedstocks used in the industry. Moreover, petrochemicals are increasingly used in the manufacturing of plastics, fertilisers, packaging, clothing, digital devices, medical equipment, and detergents, among others. These are also used in modern energy systems, such as solar panels, wind turbine blades, batteries, thermal insulation for buildings, and electric vehicle parts.

 

Global Petrochemicals Market by Segment

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By product, the market is divided into:

  • Ethylene
  • Propylene
  • Butadiene
  • Benzene
  • Xylene 
  • Toluene
  • Methanol

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Petrochemicals Market by Region

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Rising Demand for Petrochemicals in the Construction Industry to Augment the Growth of the Global Petrochemicals Industry

The global petrochemicals industry is being driven by the increased product demand in various end use sectors, especially construction and automotive. According to the UN statistics, the world population is expected to increase from 7.7 billion to 9.7 billion by 2050. This is expected to result in rapid urbanisation, owing to which the governments are increasingly investing in the development of public infrastructure to meet the housing, commercial, and industrial construction demands of the increasing population. In addition, the increased demand for plastic production worldwide is driving the demand for petrochemicals in the plastic industry. Moreover, there has been an increased utilisation of petrochemicals in the automotive industry, such as high-density polyethylene (HDP), for making fuel tanks to prevent fires and polymers, which are further used to create body parts, dashboards, speedometer dials, and steering wheels, among others. Furthermore, the manufacturing of everyday appliances such as CD players, telephones, radios, computers, and televisions on a large scale requires different chemicals. These factors are predicted to drive the demand for petrochemicals, thus, aiding the industry growth in the forecast period.

 

Key Industry Players in the Global Petrochemicals Market

The report gives a detailed analysis of the following key players in the global petrochemicals market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • BASF SE
  • BP Plc
  • Chevron Phillips Chemical Company LLC
  • China National Petroleum Corporation (CNPC)
  • INEOS Group Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2017-2021
Forecast Period 2022-2027
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product, Region
Breakup by Product Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Methanol
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered BASF SE, BP Plc, Chevron Phillips Chemical Company LLC, China National Petroleum Corporation (CNPC), INEOS Group Ltd., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Petrochemicals Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Petrochemicals Historical Market (2017-2021) 
    8.3    Global Petrochemicals Market Forecast (2022-2027)
    8.4    Global Petrochemicals Market by Product
        8.4.1    Ethylene
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Propylene
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
        8.4.3    Butadiene
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2017-2021)
            8.4.3.3    Forecast Trend (2022-2027)
        8.4.4    Benzene
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2017-2021)
            8.4.4.3    Forecast Trend (2022-2027)
        8.4.5    Xylene
            8.4.5.1    Market Share
            8.4.5.2    Historical Trend (2017-2021)
            8.4.5.3    Forecast Trend (2022-2027)
        8.4.6    Toluene
            8.4.6.1    Market Share
            8.4.6.2    Historical Trend (2017-2021)
            8.4.6.3    Forecast Trend (2022-2027)
        8.4.7    Methanol
            8.4.7.1    Market Share
            8.4.7.2    Historical Trend (2017-2021)
            8.4.7.3    Forecast Trend (2022-2027)
    8.5    Global Petrochemicals Market by Region
        8.5.1    Market Share
            8.5.1.1    North America
            8.5.1.2    Europe
            8.5.1.3    Asia Pacific
            8.5.1.4    Latin America
            8.5.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    Key Indicators for Demand
    10.4    Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    BASF SE
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    BP Plc
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Chevron Phillips Chemical Company LLC
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    China National Petroleum Corporation (CNPC)
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    INEOS Group Ltd.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Others
13    Industry Events and Developments

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Key Figures and Tables

1.    Global Petrochemicals Market: Key Industry Highlights, 2016 and 2026
2.    Global Petrochemicals Historical Market: Breakup by Product (USD Billion), 2017-2021
3.    Global Petrochemicals Market Forecast: Breakup by Product (USD Billion), 2022-2027
4.    Global Petrochemicals Historical Market: Breakup by Region (USD Billion), 2017-2021
5.    Global Petrochemicals Market Forecast: Breakup by Region (USD Billion), 2022-2027
6.    North America Petrochemicals Historical Market: Breakup by Country (USD Billion), 2017-2021
7.    North America Petrochemicals Market Forecast: Breakup by Country (USD Billion), 2022-2027
8.    Europe Petrochemicals Historical Market: Breakup by Country (USD Billion), 2017-2021
9.    Europe Petrochemicals Market Forecast: Breakup by Country (USD Billion), 2022-2027
10.    Asia Pacific Petrochemicals Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    Asia Pacific Petrochemicals Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Latin America Petrochemicals Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Latin America Petrochemicals Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Middle East and Africa Petrochemicals Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Middle East and Africa Petrochemicals Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Global Petrochemicals Market Structure

Key Questions Answered in the Report

In 2020, the global petrochemicals market attained a value of nearly USD 419 billion.

The market is projected to grow at a CAGR of 6.6% between 2022 and 2027.

The major drivers of the industry such as the heightened demand for ethylene and propylene in the packaging and  transportation industries, rapid investments by the governments for the development of public infrastructure, manufacturing of everyday appliances such as CD players, radios, computers, and televisions and rapidly increasing population are expected to aid the market growth.

The key market trends guiding the growth of the industry include the increased product demand in construction and automotive sector and increased demand for plastic production.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The significant product segments include ethylene, propylene, butadiene, benzene, xylene, toluene, and methanol.

The major players in the industry are BASF SE, BP Plc, Chevron Phillips Chemical Company LLC, China National Petroleum Corporation (CNPC), and INEOS Group Ltd., among  others.

Analyst Review

The global petrochemicals market attained a value of USD 419 billion in 2020, driven by the increased product demand in construction and automotive sector.  Aided by the  investments for the development of public infrastructure and manufacturing of everyday appliances such as CD players, radios, computers, and televisions, the market is expected to witness a further growth in the forecast period of 2022-2027, growing at a CAGR of 6.6%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By product, the market can be distributed into ethylene, propylene, butadiene, benzene, xylene, toluene, and methanol. The major regional markets for petrochemicals are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include BASF SE, BP Plc, Chevron Phillips Chemical Company LLC, China National Petroleum Corporation (CNPC), and INEOS Group Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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