Petrochemicals Industry Is Estimated To Expand Further At A CAGR Of Over The Forecast Period

Petrochemicals Industry Data Book Covers Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene and Methanol Markets.

The economic value generated by the petrochemicals markets was estimated at approximately USD 556.1 billion in 2021. This economic output is an amalgamation of basic petrochemical products, namely, ethylene, propylene, butadiene, methanol and aromatics including benzene, toluene and xylene.

Grand View Research’s petrochemicals industry data book is a collection of market sizing information forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.

Benzene Market Insights

The global benzene market size was estimated at USD 44.07 billion in 2021 and is expected to expand at a compounded annual growth rate (CAGR) of 6.1% from 2022 to 2030.

The catalytic reforming segment dominated the market with a revenue share of around 49.32%. This is attributed to an increase in the usage of low octane straight run naphtha containing the naphthenes for the production of low-sulfur fuel used in gasoline and high-octane aromatic benzene. Additionally, catalytic reforming provides hydrogen which is further used for producing clean fuels by hydroprocessing units.

Access the Global Petrochemicals Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory technological framework studies

Methanol Market Insights

The global methanol market size was estimated at USD 31.81 billion in 2018 and is projected to accelerate at a CAGR of 2.9% from 2019 to 2025.

Formaldehyde dominated the application segment with 24.3% of the overall volume share in 2018. Formaldehyde resins are used on a large scale to manufacture interior molded components of vehicles to reduce weight and increase fuel efficiency. In the personal care segment, formaldehyde-releasing agents are used as preservatives to eliminate the growth of bacteria or pathogens.

Methanol is widely used for the esterification of acetic acid. The most common production process with regards to acetic acid includes the rhodium-catalyzed carbonylation process. This process involves the reaction of carbon monoxide and methanol. It also facilitates the production of methyl acetate, which is broadly utilized as a solvent forester, cellulose, and nitrates.

Methanol is considered as a feasible alternative to fossil fuel as it is cleaner and less expensive. This factor has led to its increasing consumption in emerging economies, most notably in the Asia Pacific and the Middle East. The countries in these regions principally import methanol for blending with non-renewable fossil fuel. Blending it to petrol increases vehicle acceleration and power and is known to reduce fuel costs.

Petrochemicals Market – Global Industry Segmentation

Ethylene Market - Segment Analysis, by Derivative, 2017 - 2030 

• Polyethylene
• Ethylene oxide
• EDC
• Ethyl benzene
• Others

Propylene Market - Segment Analysis, by Derivative, 2017 - 2030

• Polypropylene
• Propylene oxide
• Acrylonitrile
• Cumene
• Acrylic acid
• Isopropanol
• Others

Butadiene Market - Segment Analysis, by Derivative, 2017 - 2030

• SB Rubber
• Butadiene rubber
• ABS
• SB latex
• Others

Benzene Market - Segment Analysis, by Derivative, 2017 – 2030

• Ethyl benzene
• Phenol/cumene
• Cyclohexane
• Nitrobenzene
• Alkyl benzene
• Others

Xylene Market - Segment Analysis, by Product, 2017 – 2030

• M-Xylene
• O-Xylene
• P-Xylene
• Mixed Xylene Isomers

Toluene Market - Segment Analysis, by Derivative, 2017 – 2030

• Solvents
• TDI
• Others

Methanol Market - Segment Analysis, by Derivative, 2017 – 2030

• Formaldehyde
• Gasoline
• Acetic acid
• MTBE
• Dimethyl ether
• MTO/MTP
• Others

Order your copy of the Free Sample of “Petrochemicals Industry Data Book - Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene and Methanol Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Petrochemicals Industry Data Book Regional Outlook

• North America
  1. U.S.
  2. Canada
  3. Mexico
• Europe
  1. U.K.
  2. Germany
  3. France
  4. Italy
  5. Spain
  6. Russia
  7. Netherlands
  8. Belgium
  9. Ukraine
• Asia Pacific
  1. China
  2. Japan
  3. India
  4. Southeast Asia
  5. Oceania
• Central South America
  1. Brazil
  2. Colombia

• Argentina
• Peru

• Middle East Africa (MEA)
  1. Middle East
     • Iran
     • Oman
     • UAE
     • Qatar
     • Kuwait
     • Saudi Arabia

• Africa

• South Africa
• Angola
• Nigeria

Petrochemicals Industry Data Book Competitive Landscape

Petrochemicals markets across the globe returned to making profits in 2021. This was driven by the global economic recovery, rise in crude oil prices, supply restrictions, and high shipping cost.

Key players operating in the Petrochemicals industry are –

• 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 PlcSasol
• Sabic
• Dow
• Reliance Industries
• PetroChina Company Limited
• B.P. Plc
• Yanbu National Petrochemical Company (Yansab)
• Advanced Petrochemical Company
• Methanex Corporation
• Mitsubishi Gas Chemical Company

Go through the table of content of petrochemicals Industry Data Book to get a better understanding of the Coverage Scope of the study

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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