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Petrochemicals Market  Updates, 2021 Factors Influencing Demand, Challenges, Business Opportunities and Leading Companies Overview by 2028
The petrochemicals market size was USD 371.9 billion in 2020. The market size is expected to rise from USD 582.4 billion in 2021 to USD 888.3 billion by 2028 at a CAGR of 6.2% during the forecast period. The global market is expected to rise during the projected period due to increasing environmental concerns by manufacturers in the market. Fortune Business Insights™ publishes this information in a report titled, "Petrochemicals Market, 2021-2028".

Petrochemicals are chemical substances made from oil, coal, and natural gases. These chemicals are majorly used in developing consumer products such as pesticides, shampoos, aspirin, detergents, gasoline, carpeting, and milk jugs. Products such as propylene, ethylene, benzene, and xylene are used in packaging, plastics, rubber, and electronics. Increasing demand for the product in automotive, medical, packaging, construction, and consumer goods sectors will likely boost the market.

Report Coverage:

The report provides complete information and statistical data regarding market development trends and business strategies adopted by the key players. Furthermore, recent trends and advancements in the industry are discussed further in this report along with key industry developments. The report sheds light on drivers and restraints affecting the market growth and the impact caused due to COVID-19 pandemic.

Drivers & Restraints:

Increasing Product Demand in Packaging Application to Stimulate Growth

The market is expected to witness significant growth in the coming years owing to the rising plastic consumption in developing economies. The utilization of plastic packaging is increased in various industries, thereby boosting the market in segmented regions. Furthermore, increasing industrialization and commercialization is expected to drive plastic utilization during the projected period. Also, cost-effective and eco-friendly characteristics of the produced plastic are anticipated to drive the market. These factors are likely to ensure the global petrochemicals market growth in the segmented regions.

However, hazardous effects caused due to petrochemical products may hinder the market growth.

Regional Insights:

Asia Pacific Holds Highest Market Share Due to Rising Industrialization

Asia Pacific dominates the global petrochemicals market share due to rising demand in the consumer goods industry. Increasing industrialization and commercialization in developing countries is expected to maintain the market position during the forecast period.

North America holds the second-largest global market share due to rising investments in the petrochemicals production sector. This encourages the key players to implement innovative strategies to increase product range.

Browse Detailed Summary of Research Report with TOC:

https://www.fortunebusinessins....ights.com/petrochemi

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[LATEST] Digital Experience Platform (DXP) Market Report 2023: (Report Pages: 104)

CAGR and Revenue: “Digital Experience Platform (DXP) market was estimated at USD 12226.11 million, and it’s anticipated to reach USD 27168.98 million in 2031, with a CAGR of 14.23% during the forecast years.”

Years considered for this report: -

Historical Years: 2018-2021

Base Year: 2022

Estimated Year: 2023

Forecast Period: 2023-2031

Digital Experience Platform (DXP) Market Report offers an Complete view about the cutthroat scene of the Digital Experience Platform (DXP) market and incorporates a profound picture of execution by a portion of the key global players finishing on the lookout. Besides, the report offers a full data about the position, extent of development, and possibilities of new members or players on the viewpoint.

Browse full Report: https://www.globalgrowthinsigh....ts.com/market-report

The Major Players in the Industrial Digital Experience Platform (DXP) Market include:

Core Dna
SiteGlide
IBM
Bloomreach
Salesforce
Microsoft
Xperience
Sitecore
Neptune
Liferay
Opentext
Contentstack
Zesty
Censhare
SAP
Progress
Adobe Systems
Lutech
Acquia
Oracle
Classification Based on Types and applications & Region:

By Product Types:

Cloud Based
On-premises
By Applications:

Manufacturing
IT & Telecom
BFSI
Healthcare
Hospitality
Public Sector
By Region:

North America (USA, Canada, Mexico)
Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
South America (Brazil, Argentina, Columbia, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)