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The Global Petrochemicals Market research report covers explicit data considering the advancement rate, advertise gauges, drivers, confinements, future based interest, and income during the figure time frame. Further, the report comprises information amassed from various primary and secondary sources.
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Petrochemicals Market Analysis Market research to Register Exponential Compound Annual Growth Rate Through 2017 – 2026 The petrochemicals market is anticipated to reach over USD 1,203.2 billion by 2026. In 2017, the ethylene segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period. More Information | Get Free PDF Sample Report Now @ https://www.alexareports.com/report-sample/9985 The well-known companies profiled in the report include include Royal Dutch Shell PLC, BASF SE, British Petroleum, The DOW Chemical Company, China National Petroluem Corporation, Chevron Corporation, ExxonMobil Corporation, LyondellBasell Industries Inc., INEOS Group Ltd., E. I. Dupont De Nemours & Company, Sabic, and Sinopec Ltd among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers. A significant growth in industries such as healthcare, automobile, construction, food and beverages, along with government initiatives and funding is expected to support the growth of this market. Other driving factors include abundance of raw materials in Middle East and favorable regulatory policies in Asia-Pacific. However, increasing environmental concerns, growing demand for bio-based chemicals, and price volatility of crude oil and natural gas are expected to restrict the growth of the market. Increasing demand from developing nations, and technological advancements are expected provide numerous growth opportunities to the market players during the forecast period. Do You Have Any Query? Ask to Our Industry Expert @https://www.alexareports.com/send- an-enquiry/9985 Petrochemicals are used in a wide range of applications in medical and healthcare sector. Phenol and Cumene are used for creation of a substance used for manufacturing of penicillin and aspirin. Petrochemical resins are used in drug purification, drug manufacturing for treatment of AIDS, cancer, and arthritis, development of artificial skin and limbs, and manufacturing of medical equipment such as bottles, and disposable syringes among others. In the food industry petrochemicals are used in manufacturing of food preservatives, chocolates and candies, and food coloring among others. Asia-Pacific generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The high economic growth in the region, growth in automotive and construction industries, and rising standards of living are expected to drive the market growth. Increasing disposable incomes in developing countries of this region, increasing applications of petrochemicals, and competitive manufacturing costs are further
expected to support market growth. Rapid urbanization, and rising shale gas explorations in the region are expected to further provide growth opportunities during the forecast period. Purchase Full Research Report with Discount @https://www.alexareports.com/check- discount/9985 The different types of petrochemicals include propylene, benzene, ethylene, butadiene, xylene, styrene, toluene, vinyls, methanol, and others. In 2017, ethylene accounted for the highest market share. However, adoption of methanol is expected to grow at the highest CAGR during the forecast period. The increasing demand of methanol for gasoline blending, and MTO (methanol to olefins) processes is expected to support its adoption in the coming years.
