According to a new market report published by
Lucintel, the future of the global basic petrochemical industry looks good with
opportunities in construction, transportation, agriculture, textile,
industrial, electronics, healthcare and consumer goods industries. The global basic
petrochemical industry is expected to reach an estimated $603.2 billion by 2021
and is forecast to grow at a CAGR of 4.9% from 2016 to 2021. The major growth
drivers for this market are growing demand for basic petrochemicals in end use
industries. Technological innovations aimed at improving manufacturing
processes to increase product yield with higher quality are expected to have a positive impact on the petrochemical
industry.
In this market, ethylene, propylene, and
ammonia are some of the major segments of basic petrochemicals. Ethylene is
expected to remain the largest segment due to increasing demand from various
end use applications such as packaging and construction. Lucintel predicts that
the demand for ethylene is likely to experience the highest growth over the
forecast period due to the growth in the polyethylene film for the food and
non-food packaging applications.
Asia Pacific is expected to remain the largest
region and is expected to witness above average growth over the forecast period
due to economic expansion in India and China and increasing usage of chemicals
in different sectors, such as healthcare, automotive, construction, and others.
For business expansion, Lucintel’s report
suggests innovation to improve oils to chemicals conversion rate and develop new
crude cracking processes to reduce energy cost and environmental footprint. The
report further suggests the development of partnerships to create win-win
situations and the development of low-cost solutions for end users.
Emerging
trends, which have a direct impact on the dynamics of the market, include capacity
migration to low cost locations and US shale gas boom has renewed competitive advantage
to the sector. Saudi Basic Industry Corporation, LyondellBasell, Exxon Mobil,
and Royal Dutch Shell are among the major suppliers of basic petrochemicals.
Lucintel, a leading global strategic
consulting and market research firm, has analyzed growth opportunities in the
global basic petrochemical industry by chemical type, application, and region,
and has come up with a comprehensive research report entitled, “Growth
Opportunities for the Global Basic Petrochemical Industry 2016-2021: Trends,
Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy,
as it provides a comprehensive data and analysis on trends, key drivers, and
directions. The study includes a forecast for the global basic petrochemical
industry by chemical type, application type, and region, as follows:
By chemical type [Volume (Million Tons) and $
Billion Shipment from 2010 to 2021]:
·
Ethylene
·
Propylene
·
Butadiene
·
Benzene
·
Toluene
·
Xylene
·
Methanol
·
Ammonia
By application type [Volume (Million Tons)
2015]:
·
Ethylene market by application
o
Polyethylene
o
Ethylene Oxide
o
Ethylene Dichloride
o
Others
·
Propylene market by application
o
Polypropylene
o
Propylene Oxide
o
Acrylonitrile
o
Others
·
Butadiene market by application
o
Butadiene Rubber
o
Styrene Butadiene Rubber
o
Acrylonitrile Butadiene Styrene
o
Styrene Butadiene Latex
o
Hexamethylenediamine/Adiponitrile
o
Others
·
Benzene market by application
o
Styrene
o
Cumene
o
Cyclohexane
o
Aniline
o
Others
·
Toluene market by application
o
Benzene
o
Xylene
o
Gasoline Blending
o
Toluene Diisocyanates
o
Solvent
o
Others
·
Xylene market by application
o
Para-Xylene
o
Ortho-Xylene
o
Mixed –Xylene & Others
·
Methanol market by application
o
Formaldehyde
o
Methyl Tert-Butyl Ether
o
Fuel Blending
o
Acetic Acid
o
Methanol to Olefins
o
Dimethyl Ether
o
Biodiesel
o
Other
·
Ammonia market by application
o
Fertilizers
o
Polyamides
o
Nitric Acid
o
Others
By region [Volume (Million Pounds) and $ Billion
Shipment from 2010 to 2021]:
·
North America
·
Europe
·
Asia Pacific
·
The Rest of the World
This
137-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Chemical
Market Research Reports, Chemical
Industry Analysis Report, Opportunity Screening
and Analysis, Strategic Growth
Consulting and Capital
Investment Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This report answers following 11 key
questions:
Q.1. What are some of the
most promising, high-growth opportunities for the basic petrochemical industry by chemical type (ethylene, propylene, butadiene,
benzene, toluene, xylene, methanol, and ammonia), application type, and region
(North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which product segments will grow at a
faster pace and why?
Q.3. Which region will grow at a faster pace and
why?
Q.4. What are the key factors affecting market
dynamics? What are the drivers and challenges of the market?
Q.5. What are the business risks and competitive
threats in this market?
Q.6.
What are emerging trends in this
market and the reasons behind them?
Q.7.
What are some changing demands of
customers in the market?
Q.8. What are the new developments in the market?
Which companies are leading these developments?
Q.9. Who are the major players in this market?
What strategic initiatives are being implemented by key players for business
growth?
Q.10. What are some of the competitive products and
processes in this area and how big of a threat do they pose for loss of market
share via material or product substitution?
Q.11.
What M&A activity has occurred in
the last 5 years?
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