The future of the basic petrochemical market looks promising with opportunities in the packaging, automotive and transportation, construction, electrical and electronics, and healthcare market. The global basic petrochemical market is expected to reach an estimated $606 billion by 2027 with a CAGR of 3.2% from 2021 to 2027. The major growth drivers for this market are the 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.
Answer: The global basic petrochemical market is expected to reach an estimated $606 billion by 2027
Q2. What is the growth forecast for basic petrochemical market?
Answer: The basic petrochemical market is expected to grow at a CAGR of 3.2% from 2021 to 2027.
Q3. What are the major drivers influencing the growth of the basic petrochemical market?
Answer: The major growth drivers for this market are the 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.
Q4. What are the major applications or end use industries for basic petrochemical?
Answer: Construction and paint and coating are the major end use industries for basic petrochemical.
Q5. What are the emerging trends in basic petrochemical market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include capacity migration to low cost locations and US shale gas boom has renewed competitive advantage to the sector.
Q6. Who are the key basic petrochemical companies?
Answer: Some of the key basic petrochemical companies are as follows:
Answer: The analyst forecasts that ethylene will remain the largest segment and it is expected to witness the highest growth over the forecast period due to the growth in the polyethylene film for the food and non-food packaging applications and increasing demand from various end use applications such as packaging and construction.
Q8: In basic petrochemical market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years
Q9. Do we receive customization in this report?
Answer: Yes, the analyst provides 10% customization without any additional cost.
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions 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 threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the 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 activities have taken place in the last 5 years in this market?
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Emerging Trends in the Basic Petrochemical Market
Emerging trends, which have a direct impact on the dynamics of the industry, include capacity migration to low-cost locations and US shale gas boom has renewed competitive advantage to the sector.Basic Petrochemical Market by Segment
The study includes a forecast for the global basic petrochemical market by chemical type, application, end use, and region as follows:Basic Petrochemical Market by Chemical Type [Volume (Million Tons) and Value ($B) Shipment from 2016 to 2027]:
- Ethylene
- Propylene
- Butadiene
- Benzene
- Toluene
- Xylene
- Methanol
- Ammonia
Basic Petrochemical Market by Application [Volume (Million Tons) and Value ($B) Shipment from 2016 to 2027]:
- Polymer
- Paint and Coating
- Solvent
- Rubber
- Adhesive and Sealant
- Surfactant
- Dyes
- Others
Basic Petrochemical Market by End Use [Volume (Million Tons) and Value ($B) Shipment from 2016 to 2027]:
- Packaging
- Automotive and Transportation
- Construction
- Electrical and Electronics
- Healthcare
- Others
Basic Petrochemical Market by Region [Volume (Million Tons) and Value ($B) Shipment from 2016 to 2027]:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- The United Kingdom
- France
- Italy
- Asia Pacific
- China
- Japan
- India
- South Korea
- The Rest of the World
List of Basic Petrochemical Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies basic petrochemical companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the basic petrochemical companies profiled in this report includes.- SABIC
- LyondellBasell
- Exxon Mobil Corp.
- Sinopec Limited
- Shell Plc
Basic Petrochemical Market Insight
- The analyst forecasts that construction will remain the largest end use segment over the forecast period due to its increasing usage in paints, coatings, adhesives and thermal insulation materials.
- Ethylene will remain the largest segment and it is expected to witness the highest growth over the forecast period due to the growth in the polyethylene film for the food and non-food packaging applications and increasing demand from various end use applications such as packaging and construction.
- Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to economic expansion in India and China and increasing usage of chemicals in different sectors, such as healthcare, automotive, construction, and others.
Features of Basic Petrochemical Market
- Market Size Estimates: Basic petrochemical market size estimation in terms of value ($B)
- Trend and Forecast Analysis: Market trends (2016-2021) and forecast (2022-2027) by various segments and regions.
- Segmentation Analysis: Market size by chemical type, application, and end use industry.
- Regional Analysis: Basic petrochemical market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different chemical type, application, end use, and regions for the basic petrochemical market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the basic petrochemical market.
- Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQS
Q1. What is the basic petrochemical market size?Answer: The global basic petrochemical market is expected to reach an estimated $606 billion by 2027
Q2. What is the growth forecast for basic petrochemical market?
Answer: The basic petrochemical market is expected to grow at a CAGR of 3.2% from 2021 to 2027.
Q3. What are the major drivers influencing the growth of the basic petrochemical market?
Answer: The major growth drivers for this market are the 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.
Q4. What are the major applications or end use industries for basic petrochemical?
Answer: Construction and paint and coating are the major end use industries for basic petrochemical.
Q5. What are the emerging trends in basic petrochemical market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include capacity migration to low cost locations and US shale gas boom has renewed competitive advantage to the sector.
Q6. Who are the key basic petrochemical companies?
Answer: Some of the key basic petrochemical companies are as follows:
- SABIC
- LyondellBasell
- Exxon Mobil Corp.
- Sinopec Limited
- Shell Plc
Answer: The analyst forecasts that ethylene will remain the largest segment and it is expected to witness the highest growth over the forecast period due to the growth in the polyethylene film for the food and non-food packaging applications and increasing demand from various end use applications such as packaging and construction.
Q8: In basic petrochemical market, which region is expected to be the largest in next 5 years?
Answer: Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years
Q9. Do we receive customization in this report?
Answer: Yes, the analyst provides 10% customization without any additional cost.
This report answers the following 11 key questions
Q.1 What are some of the most promising potential, high growth opportunities for the global basic petrochemical market by chemical type (ethylene, propylene, butadiene, benzene, toluene, xylene, methanol, and ammonia), application (polymer, paint and coating, solvent, rubber, adhesive and sealant, surfactant, dyes, and others), end use (packaging, automotive and transportation, construction, electrical and electronics, healthcare, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions 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 threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the 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 activities have taken place in the last 5 years in this market?
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Table of Contents
1. Executive Summary
2. Global Basic Petrochemical Market Dynamics
3. Market Trends and Forecast Analysis from 2016 to 2027
4. Market Trends and Forecast Analysis by Region
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading Players
Companies Mentioned
- SABIC
- LyondellBasell
- Exxon Mobil Corp.
- Sinopec Ltd.
- Shell Plc
Methodology
The analyst has been in the business of market research and management consulting since 2000 and has published over 600 market intelligence reports in various markets/applications and served over 1,000 clients worldwide. Each study is a culmination of four months of full-time effort performed by the analyst team. The analysts used the following sources for the creation and completion of this valuable report:
- In-depth interviews of the major players in the market
- Detailed secondary research from competitors’ financial statements and published data
- Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
- A compilation of the experiences, judgments, and insights of professionals, who have analyzed and tracked the market over the years.
Extensive research and interviews are conducted in the supply chain of the market to estimate market share, market size, trends, drivers, challenges and forecasts.
Thus, the analyst compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. The analyst then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process.
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