Petrochemicals Market [By Product Type (Propylene, Benzene, Ethylene, Butadiene, Xylene, Styrene, Toluene, Vinyls, Methanol, Others); By Region]: Market Size & Forecast, 2017 – 2026

Report Summary

The global Petrochemicals market size was valued at USD 509.3 billion in 2017 and is anticipated to grow at a CAGR of more than 10.1% during the forecast period. Petrochemicals are chemical compounds obtained from chemical processing of oil, natural gas, coal or other petroleum sources. The primary petrochemicals include ethylene, benzene, propylene, toluene, butadiene, and xylene among others. Petrochemicals are used for production of a wide range of products such as plastics, soaps and detergents, explosives, paints, solvents, drugs, rubbers and synthetic fibers, fertilizers, pesticides, epoxy resins, and flooring and insulating materials among others. Petrochemicals are also used in products such as aspirin, polyester clothes, luggage, automobiles, aircrafts, boats, and recording discs and tapes.

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Segment Analysis

The global Petrochemicals market is segmented on the basis of product type, and region. Based on type, the market is segmented into propylene, benzene, ethylene, butadiene, xylene, styrene, toluene, vinyls, methanol, and others. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific. Asia-Pacific accounted for the largest share in the global Petrochemicals market in 2017.

Competitive Landscape

The leading players in the market include Royal Dutch Shell PLC, BASF SE, British Petroleum, The DOW Chemical Company, China National Petroluem Corporation, Chevron Corporation, ExxonMobil Corporation, LyondellBasell Industries Inc., INEOS Group Ltd., E. I. Dupont De Nemours & Company, Sabic, and Sinopec Ltd among others. The leading players in the market are introducing new innovative products in the market to cater to the consumers. Global players are entering new markets in developing regions to expand their customer base and strengthen market presence.