Market Size – USD 547.26 Billion in 2021, Market Growth – at a CAGR of 6.1%, Market Trends – Growing development of building & construction industry across the globe
Global Petrochemicals Market Scenario 2022-2030
The global petrochemicals market size reached USD 547.26 Billion in 2021 and is expected to register a revenue CAGR of 6.1% during the forecast period, according to latest analysis by Emergen Research. Rising demand for petrochemicals in automotive, and pharmaceutical industries is a key factor driving market revenue growth.
Petrochemicals products are used rapidly in making pharmaceutical ingredients in recent years. Petrochemicals significantly minimize the incidence of nosocomial infections, which include infections transmitted by germs from other patients, hospital food, and inadequately hygienic environments. Petrochemicals are also included in hand sanitizer in the form of carbomer polymers and glycerin. Phenol and Cumene are used in the preparation of preparatory substances for manufacturing aspirin and penicillin. Penicillin is one of the most used antibiotic agents which are used to cure a number of ailments such as pneumonia, spinal meningitis, diphtheria, and throat infections. In addition, a number of petrochemical resins have applications in drug purification methods. This method assists in the cost-cutting procedure and simplifies the bulk medicine manufacturing process. The growing development of pharmaceutical industries across the globe is expected to create high demand for petrochemicals. According to research in 2020, the pharmaceutical industry in U.S. generated approximately USD 425 billion in revenue. Growing pharmaceutical sector creates high demand for petrochemicals in this country.
Our experienced market research team has provided updated information on the ongoing COVID-19 pandemic and its adverse economic impact in the latter segment of the report. The coronavirus outbreak has led to drastic changes in the current Petrochemicals business landscape, limiting the growth opportunities for various manufacturers and buyers for the next few years. Besides making speculations about the market’s post-COVID-19 scenario, the report discusses its existing situation. The report eventually offers conclusive data related to the Petrochemicals market growth assessed on both regional and global levels.
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The Global Petrochemicals Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.
The report offers a comprehensive breakdown of the regional analysis of the market and subsequent country-wise analysis. The regional analysis of the market comprises of production volume information, consumption volume and patterns, revenue, and growth rate for the forecast period of 2022-2030. According to the regional analysis, the market is primarily spread over key geographical regions as follows:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Leading Players Profiled in the Report:
BASF SE, Dow Inc., LyondellBasell Industries Holdings B.V., DuPont de Nemours, Inc., Phillips 66 Company, TotalEnergies, China National Petroleum Corp., Chevron Corporation, Marathon Petroleum Corporation, Exxon Mobil Corporation, Ineos Group Ltd., and Saudi Basic Industries Corporation (SABIC).
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Highlights of the TOC:
- Report Overview
1.1 Research Scope
1.2 Key Petrochemicals market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline - Global Growth Trends
2.1 Global Petrochemicals market size
2.2 Latest Petrochemicals market trends
2.3 Key growth trends - Competitive Landscape
3.1 Global Petrochemicals market key players
3.2 Global Petrochemicals size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Petrochemicals market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
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Overview of the Petrochemicals Market Report:
- Introduction, Product Scope, Market Overview, and Opportunities
- Analysis of the Manufacturers with sales, revenue, and price analysis
- Comprehensive analysis of the competitive landscape
- Extensive profiling of the key competitors along with their business strategies and market size
- Regional analysis of the market along with sales, revenue, market share, and global position
- Country-wise analysis of the market along with types, applications, and manufacturing
- Strategic recommendations to established players as well as new entrants
- In-depth analysis of the risks, restraints, and limitations in the Petrochemicals industry
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