The global petrochemicals market is expected to reach USD 958.8 billion by 2025, according to a new report by Grand View Research, Inc. Increasing shale gas exploration coupled with abundant availability of cheap indigenous crude oil in Middle East & Africa is projected to drive demand.
Increasing demand for petrochemical products from end-use industries such as automotive, construction, textile, electronics, and pharmaceutical is expected to foster consumption. Government support and favorable policies in Asia Pacific countries such as China and India are anticipated to promote industry growth. Infrastructure development coupled with transportation industry growth in BRICS nation is likely to propel demand.New capacity additions in Middle Eastern countries such as UAE and Saudi Arabia along with low feedstock prices is expected to positively impact supply demand scenario. Advent of technologies such as fluid catalytic cracking and residuum crackingis anticipated to promote the usage of bio-based raw materials. Commercialization of renewable sources such as corn and lignin is projected to capture market share and adversely impact industry growth. Ethylene was the dominant product segment and accounted for over 25% of the overall revenue in 2015. Increasing use of polyethylene in the packaging industry is projected to drive demand for ethylene. Full Research Report On Global Petrochemicals Market By Grand View Research: www.grandviewresearch.com/industry-analysis/petrochemical-market Further key findings from the study suggest:
www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives Grand View Research has segmented the petrochemicals market on the basis product and region: Global petrochemicals outlook by product (Volume, Million Tons; Revenue, USD Billion; 2014 - 2025)
www.grandviewresearch.com/press-release/global-petrochemical-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information: www.grandviewresearch.com
0 Comments
Leave a Reply. |