Petrochemicals Market Size, Growth, Share | Industry Trends 2022-2030

The global Petrochemicals market size is expected to be worth around US$ 960.0 billion by 2030, according to a new report by Vision Research Reports.

The global Petrochemicals market size was valued at US$ 546.1 billion in 2020 and is anticipated to grow at a CAGR of 7.4 % during forecast period 2021 to 2030.

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Report Coverage

Report Scope Details
Market Size US$ 960.0 Billion by 2030
Growth Rate CAGR of 7.4% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Product
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned BASF SE; Chevron Corporation; China National Petroleum Corporation (CNPC); China Petrochemical Corporation (SINOPEC); ExxonMobil Corporation; INEOS Group Ltd.; LyondellBasell Industries Holdings B.V.; Royal Dutch Shell PLC; SABIC; Dow

Growth Factors

The market is expected to witness steady growth over the forecast period owing to increasing demand from end-use industries such as construction, industrial, textile, medical, pharmaceuticals, consumer good automotive, and electronics. Products such as ethylene, propylene, benzene are widely used in various end-use industries such as packaging, electronics, plastics, and rubber. Rising shale gas exploration in North American countries such as the Canada and U.S. is expected to further augment market growth.

The market is largely driven by rising demand for downstream specialty chemicals and plastic manufacturing. The market is expected to witness steady growth over the forecast period owing to increasing demand from end-use industries such as construction, industrial, textile, medical, pharmaceuticals, consumer good automotive, and electronics.

By Product Analysis

Ethylene was the leading product segment and accounted for the largest revenue share of 41.1% in 2020. The segment is expected to witness a CAGR of 6.6% in the coming years.

The methanol segment is predicted to witness the highest CAGR over the forecast period. Methanol is used as a feedstock for producing acetic acid and formaldehyde, which are used in foams, adhesives, foams, solvents, plywood subfloors, and windshield washer fluids.

Butadiene was the second-largest product segment in 2020 and accounted for 16.1% of the revenue share. It is majorly utilized as a chemical intermediate and a monomer during the production of polymers such as styrene-butadiene rubber (SBR), Polybutadiene Rubber (PBR), Polychloroprene (PBR), and Nitrile Rubber (NR).

By Regional Analysis

Asia Pacific dominated the market and accounted for the largest revenue share of more than 45.0% in 2020. A critical factor fueling growth of the market in this region is surged domestic consumption of petrochemicals owing to the rapid growth of end-use industries.

North America accounted for the second-largest revenue share in the market in 2020 and is anticipated to witness a CAGR of 6.6% in the predicted years.Growing consumption of ethylene specifically in anti-freezing/cooling applications in the automotive industry is projected to drive the growth of the ethylene segment in North America.

Key Players

  • BASF SE
  • Chevron Corporation
  • China National Petroleum Corporation (CNPC)
  • China Petrochemical Corporation (SINOPEC)
  • ExxonMobil Corporation
  • INEOS Group Ltd.
  • LyondellBasell Industries Holdings B.V.
  • Royal Dutch Shell PLC
  • SABIC
  • Dow

Market Segmentation

  • By Product
    • Ethylene
      • Polyethylene
      • Ethylene oxide
      • EDC
      • Ethyl benzene
      • Other (including alpha olefins, vinyl acetate, etc.)
    • Propylene
      • Polypropylene
      • Propylene oxide
      • Acrylonitrile
      • Cumene
      • Acrylic acid
      • Isopropanol
      • Other
    • Butadiene
      • SB Rubber
      • Butadiene rubber
      • ABS
      • SB latex
      • Other (nitrile rubber, mechanical belts, etc.)
    • Benzene
      • Ethyl benzene
      • Phenol/cumene
      • Cyclohexane
      • Nitrobenzene
      • Alkyl benzene
      • Other (including alkyl benzene, maleic anhydride)
    • Xylene
    • Toluene
      • Benzene
      • Xylenes
      • Solvents
      • TDI
      • Others (including pesticides, drugs, nitro toluene, etc.)
      • Vinyl
      • Styrene
    • Polystyrene
      • EPS
      • ABS
      • SB latex
      • UPR
      • SB rubber
      • Other
    • Methanol
      • Formaldehyde
      • Gasoline
      • Acetic acid
      • MTBE
      • Dimethyl ether
      • MTO/MTP
      • Other
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • Belgium
      • Netherlands
      • France
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Indonesia
    • Latin America
      • Brazil
    • Middle East
    • Africa

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Petrochemicals Market, By Product

7.1.  Petrochemicals Market, by Product, 2021-2030

7.1.1.    Ethylene

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Propylene

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    Butadiene

7.1.3.1.        Market Revenue and Forecast (2017-2030)

7.1.4.    Benzene

7.1.4.1.        Market Revenue and Forecast (2017-2030)

7.1.5.    Xylene

7.1.5.1.        Market Revenue and Forecast (2017-2030)

7.1.6.    Toluene

7.1.6.1.        Market Revenue and Forecast (2017-2030)

7.1.7.    Polystyrene

7.1.7.1.        Market Revenue and Forecast (2017-2030)

7.1.8.    Methanol

7.1.8.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Petrochemicals Market, Regional Estimates and Trend Forecast

8.1.  North America

8.1.1.    Market Revenue and Forecast, by Product (2017-2030)

8.1.2.    U.S.

8.1.3.    Rest of North America

8.1.3.1.        Market Revenue and Forecast, by Product (2017-2030)

8.2.  Europe

8.2.1.    Market Revenue and Forecast, by Product (2017-2030)

8.2.2.    UK

8.2.2.1.        Market Revenue and Forecast, by Product (2017-2030)

8.2.3.    France

8.2.3.1.        Market Revenue and Forecast, by Product (2017-2030)

8.2.4.    Rest of Europe

8.2.4.1.        Market Revenue and Forecast, by Product (2017-2030)

8.3.  APAC

8.3.1.    Market Revenue and Forecast, by Product (2017-2030)

8.3.2.    India

8.3.2.1.        Market Revenue and Forecast, by Product (2017-2030)

8.3.3.    China

8.3.3.1.        Market Revenue and Forecast, by Product (2017-2030)

8.3.4.    Japan

8.3.4.1.        Market Revenue and Forecast, by Product (2017-2030)

8.3.5.    Rest of APAC

8.3.5.1.        Market Revenue and Forecast, by Product (2017-2030)

8.4.  MEA

8.4.1.    Market Revenue and Forecast, by Product (2017-2030)

8.4.2.    GCC

8.4.2.1.        Market Revenue and Forecast, by Product (2017-2030)

8.4.3.    North Africa

8.4.3.1.        Market Revenue and Forecast, by Product (2017-2030)

8.4.4.    South Africa

8.4.4.1.        Market Revenue and Forecast, by Product (2017-2030)

8.4.5.    Rest of MEA

8.4.5.1.        Market Revenue and Forecast, by Product (2017-2030)

8.5.  Latin America

8.5.1.    Market Revenue and Forecast, by Product (2017-2030)

8.5.2.    Brazil

8.5.2.1.        Market Revenue and Forecast, by Product (2017-2030)

8.5.3.    Rest of LATAM

8.5.3.1.        Market Revenue and Forecast, by Product (2017-2030)

Chapter 9.    Company Profiles

9.1.  BASF SE

9.1.1.    Company Overview

9.1.2.    Product Offerings

9.1.3.    Financial Performance

9.1.4.    Recent Initiatives

9.2.  Chevron Corporation

9.2.1.    Company Overview

9.2.2.    Product Offerings

9.2.3.    Financial Performance

9.2.4.    Recent Initiatives

9.3.  China National Petroleum Corporation (CNPC)

9.3.1.    Company Overview

9.3.2.    Product Offerings

9.3.3.    Financial Performance

9.3.4.    Recent Initiatives

9.4.  China Petrochemical Corporation (SINOPEC)

9.4.1.    Company Overview

9.4.2.    Product Offerings

9.4.3.    Financial Performance

9.4.4.    Recent Initiatives

9.5.  ExxonMobil Corporation

9.5.1.    Company Overview

9.5.2.    Product Offerings

9.5.3.    Financial Performance

9.5.4.    Recent Initiatives

9.6.  INEOS Group Ltd.

9.6.1.    Company Overview

9.6.2.    Product Offerings

9.6.3.    Financial Performance

9.6.4.    Recent Initiatives

9.7.  LyondellBasell Industries Holdings B.V

9.7.1.    Company Overview

9.7.2.    Product Offerings

9.7.3.    Financial Performance

9.7.4.    Recent Initiatives

9.8.  Royal Dutch Shell PLC

9.8.1.    Company Overview

9.8.2.    Product Offerings

9.8.3.    Financial Performance

9.8.4.    Recent Initiatives

9.9.  SABIC

9.9.1.    Company Overview

9.9.2.    Product Offerings

9.9.3.    Financial Performance

9.9.4.    Recent Initiatives

9.10.              Dow

9.10.1.  Company Overview

9.10.2.  Product Offerings

9.10.3.  Financial Performance

9.10.4.  Recent Initiatives

Chapter 10.  Research Methodology

10.1.              Primary Research

10.2.              Secondary Research

10.3.              Assumptions

Chapter 11.  Appendix

11.1.              About Us

11.2.              Glossary of Terms

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