Press release
Petrochemicals Market Is Expected To Reach USD 900.91 billion By 2032|Companies- BASF SE, LyondellBasell Industries Holdings B.V., INEOS
Petrochemicals Market
Natural gas, crude oil, and coal are used to derive petrochemicals. The expansion of the market can be credited to the growth of industries such as electronics, packaging, automotive, and construction, which is poised to increase the demand for petrochemical products.
Fortune Business Insightsโข provides this information in its research report, titled "Petrochemicals Market, 2024-2032".
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ - https://www.fortunebusinessinsights.com/enquiry/sample/petrochemicals-market-102363
๐๐ข๐ฌ๐ญ ๐จ๐ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐๐๐ง๐ญ๐ข๐จ๐ง๐๐ ๐ข๐ง ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ:
โถ BASF SE (Germany)
โถ LyondellBasell Industries Holdings B.V. (Netherlands)
โถ INEOS (K.)
โถ Shell plc (K.)
โถ SABIC (Saudi Arabia)
โถ Reliance Industries Limited (India)
โถ Mitsubishi Chemical Corporation. (Japan)
โถ Dow Chemical Company (U.S.)
โถ LG Chem (South Korea)
โถ Chevron Phillips Chemical Company LLC. (U.S.)
โถ China National Petroleum Corporation (China)
โถ Maruzen Petrochemical Co., Ltd. (Tokyo)
๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง:
๐๐ฎ๐ซ๐ ๐ข๐ง๐ ๐๐๐ฉ๐ฅ๐จ๐ฒ๐ฆ๐๐ง๐ญ ๐จ๐ ๐๐ญ๐ก๐ฒ๐ฅ๐๐ง๐ ๐๐จ๐ซ ๐๐ข๐ง๐ฒ๐ฅ ๐๐ก๐ฅ๐จ๐ซ๐ข๐๐ ๐๐ซ๐จ๐๐ฎ๐๐ญ๐ข๐จ๐ง ๐ ๐ฎ๐๐ฅ๐๐ ๐ญ๐ก๐ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก
On the basis of type, the market is categorized into methanol, propylene, ethylene, xylene, and others. The ethylene segment captured the largest petrochemicals market share in 2022. Ethylene is used in the production of ethylene glycol, vinyl chloride, and polyethylene. This factor is propelling the ethylene segment growth.
๐๐ซ๐จ๐ฐ๐ข๐ง๐ ๐๐๐ฆ๐๐ง๐ ๐๐จ๐ซ ๐๐ฅ๐๐ฌ๐ญ๐ข๐ ๐๐๐๐ค๐๐ ๐ข๐ง๐ ๐๐ฆ๐ฉ๐๐ฅ๐๐ ๐ญ๐ก๐ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก
Based on end-use industry, the market is divided into electronics, automotive, construction, packaging, and others. The packaging segment held the largest market share in 2022. The demand for plastic packaging, mainly in non-food and food packaging is increasing. This factor is bolstering the packaging segment growth.
From the regional perspective, the market is divided into South America, North America, the Asia Pacific, Europe, and the Middle East & Africa.
๐๐๐ญ ๐ ๐๐ฎ๐จ๐ญ๐- https://www.fortunebusinessinsights.com/enquiry/get-a-quote/petrochemicals-market-102363
๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ฏ๐๐ซ๐๐ ๐:
The research report offers detailed insights into the major factors proliferating the market growth. It further encompasses the restraining factors, the COVID-19 pandemic's impact on market growth, and major industry developments. Additional aspects of the report include the competitive strategies deployed by leading industry players to reinforce their position.
๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ ๐๐ง๐ ๐๐๐ฌ๐ญ๐ซ๐๐ข๐ง๐ญ๐ฌ:
๐๐ฑ๐ฉ๐๐ง๐ฌ๐ข๐จ๐ง ๐จ๐ ๐ญ๐ก๐ ๐๐๐๐ค๐๐ ๐ข๐ง๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐ญ๐จ ๐ ๐จ๐ฌ๐ญ๐๐ซ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก
One of the key factors propelling the petrochemicals market growth is the flourishing packaging industry. This factor can be attributed to the growing urbanization trend. Due to the growth in urban population, the demand for packaged goods has increased.
Despite an expanding scope for the adoption of the product, the harmful impacts of petrochemical products may impede the market growth.
๐๐๐๐ ๐๐จ๐ซ๐ ๐๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง- https://www.fortunebusinessinsights.com/petrochemicals-market-102363
๐๐๐ ๐ข๐จ๐ง๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ:
๐๐ฌ๐ข๐ ๐๐๐๐ข๐๐ข๐ ๐๐จ๐ฆ๐ข๐ง๐๐ญ๐๐ ๐๐ฎ๐ ๐ญ๐จ ๐ญ๐ก๐ ๐๐ญ๐ซ๐จ๐ง๐ ๐๐ซ๐๐ฌ๐๐ง๐๐ ๐จ๐ ๐๐ซ๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ
The Asia Pacific petrochemicals market dominated in 2022. The robust presence of the traditional automotive industry in China is escalating the regional growth.
The growth of North America market for petrochemicals can be attributed to the growing petroleum sector due to technological advancements in shale oil production by hydraulic fracturing.
๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐๐ง๐๐ฌ๐๐๐ฉ๐:
๐๐๐๐๐ข๐ง๐ ๐๐จ๐ฆ๐ฉ๐๐ง๐ข๐๐ฌ ๐ ๐จ๐๐ฎ๐ฌ ๐จ๐ง ๐๐๐ซ๐ ๐๐ซ๐ฌ ๐๐ง๐ ๐๐๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐๐ญ๐ซ๐๐ญ๐๐ ๐ข๐๐ฌ ๐ญ๐จ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐ก๐๐ข๐ซ ๐๐๐ฏ๐๐ง๐ฎ๐
The major industry players in the petrochemicals market are forging partnerships and deploying other strategic initiatives such as product innovations, joint ventures, and others. Several companies are also focusing on mergers and acquisition strategies to capture the largest market share and boost revenue.
๐๐๐ฒ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐๐๐ฏ๐๐ฅ๐จ๐ฉ๐ฆ๐๐ง๐ญ:
July 2023 - INEOS inked a deal for the acquisition of Gexaro, Appryl, and Naphtachimie, which was a 50:50 joint venture between INEOS and TotalEnergies in Southern France. This deal is a significant step toward the INEOS French and South European businesses.
๐๐๐ฅ๐๐ญ๐๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ-
Plastics Market- https://www.fortunebusinessinsights.com/plastics-market-102176
Ethylene Copolymer Market- https://www.fortunebusinessinsights.com/ethylene-copolymer-market-102893
Thermoplastic Polyurethane (TPU) Market- https://www.fortunebusinessinsights.com/thermoplastic-polyurethane-tpu-market-102389
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ:
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๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐
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