Petrochemicals Market Size, Growth Factor, Key Players, Regional Demand, Trends

1. Petrochemicals Market Size, Growth Factor, Key Players, Regional Demand, Trends and Forecast To 2027 Market Overview Petrochemicals are chemical compounds derived from hydrocarbons, mainly crude oil and natural gas. They can also be obtained from various renewable materials such as sugarcane and corn. Petrochemicals are classified on the basis of their chemical structure, namely, olefins, aromatics, and synthesis gas hydrocarbon. Olefin hydrocarbons include ethylene and propylene, while benzene, toluene and xylene belong to the category of aromatic hydrocarbons. Various process such as fluid catalytic cracking (FCC), steam cracking, and catalytic reforming employed in refineries and chemicals plants to obtain the desired product. Petroleum products form an integral aspect of daily life and find major demand across various end-use industries. Moreover, petrochemicals products find application in various everyday use products such as clothes, houses, automobiles, tooth brush, furniture, irrigation, household items, synthetic detergents, packaging, electronics, performance products, and medical equipment. Request Copy Of This Business Report:https://www.coherentmarketinsights.com/ongoing- insight/petrochemicals-market-268 Market Dynamics Large volume of feedstock or raw materials available in the Organization of Petroleum Exporting Countries (OPEC), and rapid development of shale gas exploration in the North American region, primarily in the U.S. and Canada, is expected to create a highly conducive environment for growth of the global petrochemicals market. China is one of the largest consumers of petrochemical products. Rampant growth of various end-use industries is expected to fuel demand for petroleum products, especially in emerging economies of Asia Pacific, such as India and China. As per data released by the U.S. Energy Information Administration (EIA), in 2017, total liquid fuel consumption in Asia Pacific reached 33.3 million barrels per day (bpd), with China accounting for 80% of the consumption in the region. Moreover, rapid advancement in the shale gas technology such as the hydro fracturing technology is being explored in the U.S. and Canada to extract petroleum. These factors, in turn, are projected to provide high growth traction to the global petrochemicals market. Global Petrochemicals Market Taxonomy On the basis of product type, the global market is classified into: •Ethylene •Polyethylene •Ethyl benzene •Ethylene oxide •Others •Propylene •Propylene oxide •Polypropylene

2. •Isopropanol •Others •Butadiene •Styrene •Acrylonitrile butadiene styrene •Butadiene •Others •Benzene •Cyclohexane •Nitrobenzene •Ethyl benzene •Others •Xylene •Toluene •Solvents •Benzene •Xylenes •Others Key players in the market include BASF SE, Sinopec Limited, ExxonMobil, The Dow Chemical Company, Shell Chemical Company, SABIC, LyondellBasell Industries, Total S.A., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical Company LLC and E. I. du Pont de Nemours and SNPC, INEOS, and Reliance Industries. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Name: Mr. Raj Shah Phone: US +12067016702 / UK +4402081334027 Email: sales@coherentmarketinsights.com Visit Our Blogs:https://blog.coherentmarketinsights.com