Petrochemicals Market, By Type (Ethylene, Propylene, Butadiene, Benzene, Toluene, Xylene, Methanol, and Others), By Application (Polymers, Paints and Coatings, Solvents, Rubber, Adhesives and Sealants, Surfactants, Dyes, and Others), By End-Use Industry (Packaging, Automotive & Transportation, Construction, Electrical & Electronics, Healthcare, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030

Report Code: PMI423820 | Publish Date: May 2024 | No. of Pages: 149

Global Petrochemicals Market Overview

Petrochemicals are chemical by-product of oil & gas. Petrochemicals is a crucial driver in industrial sector manipulating almost every sphere of life. They are prepared either from steam cracking of paraffin present in natural gas or from naphtha fraction of crude oil. Petrochemicals are widely classified into three main subsidiaries— aromatics, olefins, and methanol. Products made from petrochemicals include such as plastics, soaps and detergents, solvents, drugs, synthetic fiber and rubbers etc. The main petrochemicals used industry are hydrocarbons; in manufacturing and transportation, resins and films; in medicine, preservatives; in food packaging etc. Petrochemicals market accounted for US$ 461.94 billion in 2020 and is estimated to be US$ 760.36 billion by 2030 and is anticipated to register a CAGR of 5.0%.

Global Petrochemicals Market Dynamics

Petrochemicals has wide application in packaging industry

In the packaging industry, petrochemicals are utilized as a raw material in the manufacturing of polymers. Polyethylene that is made from ethylene can be soft, hard, and pliable. Pliable and soft polyethylene is mainly used as a raw material for flexible packaging. It is usually used to store and package a wide range of products. Whereas, hard polyethylene is utilized for the manufacturing of rigid packaging. With the increase in demand for rigid and flexible packaging, the demand for polyethylene and thus ethylene is projected to rise over the forecast period, which is anticipated to boost the global petrochemicals market growth. Increased fuel efficiencies in new vehicles and vehicle electrification are likely to reduce petrochemical fuel demand. The increasing regulatory frameworks by the governments across the globe to reduce carbon dioxide emissions and enhance vehicle fuel efficiency are likely to pose significant challenges to global petrochemicals consumption in the near future. 

Significant rise in the environmental concerns is estimated to hamper the growth of the petrochemicals market in the coming years. Additionally, growing shift towards the development of the bio-based chemicals is another key factor expected to restrain the growth of the market over the forecast period. 

Global Petrochemicals Market Segmentation

Petrochemicals market is segmented based on type, application, end-user, and region.

On the basis of type, the petrochemicals market is segmented into ethylene, propylene, butadiene, benzene, toluene, xylene, methanol, and others. Based on application, the target market is segmented into o polymers, paints and coatings, solvents, rubber, adhesives and sealants, surfactants, dyes, and others. Based on end-user, the target market is segmented into packaging, automotive & transportation, construction, electrical & electronics, healthcare, and others

Regional Insights:

Petrochemicals market accounted for US$ 461.94 billion in 2020 and is estimated to be US$ 760.36 billion by 2030 and is anticipated to register a CAGR of 5.0%. On region the Petrochemicals market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific accounts for the highest market share owing to rapid industrialization in the region. The regional market is projected to witness a significant CAGR in the coming years. India and are projected to be the major growth-centric countries in the regional market. Europe and North America are also the major markets for petrochemicals. The U.S. petrochemicals market is projected to account a remarkable CAGR over the forecast period. Moreover, Germany and Russia are anticipated to register significant shares of the European petrochemicals market

Petrochemicals Market Report Scope:

Attribute

Details

Base year for estimation

2020

Forecast period

2020 – 2030

Market representation

Revenue in USD Billion & CAGR from 2020 – 2030

Market Segmentation

By Type- Ethylene, Propylene, Butadiene, Benzene, Toluene, Xylene, Methanol, and Others

By Application – Polymers, Paints and Coatings, Solvents, Rubber, Adhesives and Sealants, Surfactants, Dyes, and Others

By End-user- Packaging, Automotive & Transportation, Construction, Electrical & Electronics, Healthcare, and Others

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the petrochemicals market report based on type, application, and region.

Petrochemicals Market Segmentation

Petrochemicals Market, By Region:

  • North America
    • Middle East & Africa
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East & Africa
    • Latin America
        • Brazil
        • Mexico
        • Rest of Latin America
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Europe
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
      • U.S.
      • Canada

Global Petrochemicals Market Key Players

The key players operating in the petrochemicals market includes BASF SE, Shell Chemical Company, DuPont, ExxonMobil, Total S.A., Sinopec Limited, Dow Inc., Saudi Arabian Oil Co., Sumitomo Chemical Co. Ltd., Chevron Phillips Chemical Company LLC, and LyondellBasell Industries.

Global Petrochemicals Market Company Profile

  • BASF SE
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Shell Chemical Company
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • DuPont
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ExxonMobil
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Total S.A.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Sinopec Limited
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Dow Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Saudi Arabian Oil Co.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Sumitomo Chemical Co. Ltd.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Chevron Phillips Chemical Company LLC
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • LyondellBasell Industries.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

Global Petrochemicals Market Table of Contents

Research Objective and Assumption

  • Preface
  • Research Objectives
  • Study Scope
  • Years Considered for the study
  • Assumptions
  • Abbreviations

Research Methodology

  • Research data
  • Primary Data
    • Primary Interviews
    • Primary Breakdown
    • Key data from Primary Sources
    • Key Thickness Insights
  • Secondary Data
    • Major Secondary Sources
    • Secondary Sources
  • Market Estimation
  • Top-Down Approach
    • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
  • Bottom-Up Approach
    • Approach for estimating market share by Bottom-up Analysis (Demand Side)
  • Market Breakdown and Data Triangulation
  • Research Assumptions

Market Preview

  • Executive Summary
  • Key Findings—Global Outlook for medical carts Strategies
    • Key Questions this Study will Answer
    • Market Snippet, By Type
    • Market Snippet, By Application
    • Market Snippet, By End-Use Industry
    • Market Snippet, By Region
  • Opportunity Map Analysis
  • Executive Summary—3 Big Predictions

Market Dynamics, Regulations, and Trends Analysis

  • Market Dynamics
    • Drivers
    • Restrains
    • Market Opportunities
    • Market Trends
  • DR Impact Analysis
  • PEST Analysis
  • Porter’s Five Forces Analysis
  • Opportunity Orbit
  • Market Investment Feasibility Index
  • Macroeconomic Factor Analysis

Market Segmentation, By Type, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Ethylene
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Propylene
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Butadiene
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Benzene
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Toluene
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Xylene
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Methanol
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Others
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By Application, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Polymers
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Paints and Coatings
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Solvents
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Rubber
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Adhesives and Sealants
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Surfactants
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Dyes
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Others
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Market Segmentation, By End-Use Industry, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Segment Trends
  • Packaging  
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Automotive & Transportation
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Construction
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Electrical & Electronics
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Healthcare
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years
  • Others
    • Overview
    • Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), Forecast Period up to 10 Years

Global Market, By Region, Forecast Period up to 10 Years, (US$ Bn)

  • Overview
    • Market Value and Forecast (US$ Bn), and Share Analysis (%), Forecast Period up to 10 Years
    • Y-o-Y Growth Analysis (%), Forecast Period up to 10 Years
    • Regional Trends
  • North America
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By End-Use Industry, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • U.S.
      • Canada
  • Europe
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By End-Use Industry, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • UK
      • France
      • Germany
      • Russia
      • Italy
      • Rest of Europe
  • Asia Pacific
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By End-Use Industry, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
      • India
      • Japan
      • South Korea
      • China
      • Rest of Asia Pacific
  • Latin America
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By End-Use Industry, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
    • Market Size and Forecast (US$ Bn), By Type, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Application, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By End-Use Industry, Forecast Period up to 10 Years
    • Market Size and Forecast (US$ Bn), By Country, Forecast Period up to 10 Years
  • GCC
  • Israel
  • South Africa
  • Rest of Middle East

Competitive Landscape

  • Heat Map Analysis
  • Market Presence and Specificity Analysis

Company Profiles

  • BASF SE.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Shell Chemical Company
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • DuPont.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • ExxonMobil
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Total S.A
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Sinopec Limited.  
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Dow Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Saudi Arabian Oil Co   
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Sumitomo Chemical Co. Ltd
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • Chevron Phillips Chemical Company LLC.  
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies

The Last Word

  • Future Impact
  • About Us
  • Contact

FAQs

Petrochemicals market is segmented based on type, application, end-user, and region.

Petrochemicals has wide application in packaging industry is the major driver which drives the market.

Asia-Pacific accounts for the highest market share owing to rapid industrialization in the region.

The key players operating the petrochemicals market includes BASF SE, Shell Chemical Company, DuPont, ExxonMobil, Total S.A., Sinopec Limited, Dow Inc.