TMR Predicts Strong Growth for Petrochemicals Market, to Rise to US$ 7.0 Trillion by 2027-end Amidst Rising Demand

TMR Predicts Strong Growth for Petrochemicals Market, to Rise to US$ 7.0 Trillion by 2027-end Amidst Rising Demand

PR Newswire

ALBANY, New York, March 4, 2020

ALBANY, New York, March 4, 2020 /PRNewswire/ -- According to TMR study, the manufacturers in the petrochemicals market continues to invest in diversification of portfolios, and are moving away from traditional varieties of polymer to engineering elastomers, and plastics. The growing volatility in oil prices, and its consequent of feedstock has resulted in a pressing need for players in the petrochemicals market to find reliable, and high margin value propositions. Additionally, IMO bunker fuel regulation will also result in major supply shifts in the petrochemicals market during the forecast period.

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According to TMR experts, the ethylene product promises to remain one of the largest petrochemical products in terms of volume during the forecast period. Additionally, the demand for polyethylene remains high in the global market, further providing a boost to ethylene oxide. The demand for propylene will likely expand at 5.0% CAGR during 2019-2027. The growing demand for aromatics will also make way for significant opportunities for growth in the petrochemical market during the forecast period.

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Key Findings of the Petrochemicals Market Study:

Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global petrochemicals Market (Product Type: Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Vinyls, Styrene, and Methanol) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027, at https://www.transparencymarketresearch.com/petrochemicals.html

Key Challenges in the Petrochemicals Market Study:

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Petrochemicals Market: Region-wise Analysis

The Asia Pacific region will likely drive highest revenue collection in the global petrochemical market in the near future. The region accounted for the highest share in 2018, and tanks to growing demand from India, and China, the region will likely pose higher growth. While soaring trade disputes between US-China continue to create new uncertainties in the global market, however, China is expected to account for a significant share of petrochemicals product in near future. New initiatives by the Saudi government like 'Saudi vision 2030' the country remains a slow cost regime for development of petrochemical products. The growing capital infusion of the Saudi government with new technology, and training labor force, will create new opportunities for growth for players in the global petrochemical market.

Petrochemicals market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.

Competitive Analysis: Petrochemicals Market

The petrochemicals market remained a highly fragmented landscape in 2018. The growing collaboration between global player, and increased need for fostering relationship continues to play a prominent role in the progress of the petrochemicals market.  Some key players in the petrochemicals market are BASF SE, Shell Chemical Company, DuPont, Total S.A., and ExxonMobil

Global Petrochemicals Market: Segmentation

Products

Region

Explore Transparency Market Research's award-winning coverage of the global Chemicals and Materials Industry,

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