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Report overview
Petrochemicals (also known as petroleum distillates) are chemical products derived from petroleum. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as corn, palm fruit or sugar cane.
Market Analysis and Insights: Global Petrochemicals Market
Due to the COVID-19 pandemic, The global Petrochemicals market size is estimated to be worth US$ 725380 million in 2023 and is forecast to a readjusted size of US$ 950070 million by 2030 with a CAGR of 4.6% during the forecast period 2023-2030.
Fully considering the economic change by this health crisis, Ethylene accounting for % of the Petrochemicals global market in 2022, is projected to value US$ million by 2030, growing at a revised % CAGR from 2023 to 2030. While Construction segment is altered to an % CAGR throughout this forecast period.
Currently, Asia-Pacific is the largest market for the petrochemicals having accounted for more than half of the global market size, by volume, in 2018. Among all the countries, China & India dominated the basic polymers market in 2018 in terms of volume, closely followed by Japan. High economic growth rate, rising demand for construction products made up of plastics, growing health awareness applications, improving standards of living and competitive manufacturing costs are the main factors leading to the growth of the market for petrochemicals in this region.
Global Petrochemicals Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the markets growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2018 to 2030. This section mentions the volume of production by region from 2018 to 2030. Pricing analysis is included in the report according to each type from the year 2018 to 2030, manufacturer from 2018 to 2023, region from 2018 to 2023, and global price from 2018 to 2030.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market experts opinions have been taken to understand the market better.
Global Petrochemicals Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2018 to 2030. by Application segment also provides consumption during the forecast period of 2018 to 2030. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Segment by Application
By Company
Production by Region
Consumption by Region
