Petrochemical Feedstock Market By Type (Natural Gas, Naphtha, Ethane, Coal), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Petrochemical feedstock are chemical feedstock which are derived from refined petroleum fraction for use in manufacturing of plastics, synthetic rubber and chemicals. Fossil fuels such as crude oil, coal, natural gas and natural gas liquids are the examples of petrochemical feedstock.

Rapidly growing population and rising demand for fertilizers, plastics and other products has contributed in market growth. Technological advancement has further driven the market growth. Wide variety of applications and advanced industrial sector is expected to boost the market growth over the forecast period.

Growing demand for petrochemical product to fuel market growth

Growing demand for petrochemical products has become a leading factor in market growth. 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., which are in demand and in turn facilitate the market growth. Petrochemical feedstock such as Olefins have been lightened in market from last decade. However, growing population, rising demand for petrochemical products from growing industries is expected to foster the Petrochemical Feedstock market growth over the forecast period.

Restrains:

However, stringent rules and regulations regarding environmental concern has restrain the Petrochemical Feedstock Market growth. Disruption in trade & supply chain has hampered the demand for market growth. Additionally, growing shift towards the development of the bio-based chemicals is another key factor expected to restrain the growth of the Petrochemical Feedstock market over the forecast period. 

Petrochemical Feedstock Market is segmented based on Type and Region.

Type Insight

On the basis of Type, Petrochemical Feedstock Market is segmented into Natural Gas, Naphtha, Ethane, Coal. Naphtha type segment is expected to dominate the target market growth as it has become the largest feedstock of petrochemicals across globe which is followed by coal, natural gas and ethane.

Regional Insights:

On region the Petrochemical Feedstock Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period as it has become the highest producer of petrol. Ethane and other natural gas are used by petrochemical companies of United States which has driven market growth. Further, the development of innovative technologies in production of petrochemical feedstock is anticipated to increase demand for Petrochemical Feedstock in the region.

Petrochemical Feedstock Market Report Scope:

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 2024 to 2034. For the purpose of this study, has segmented the Petrochemical Feedstock Market report based on Type and Region:

Petrochemical Feedstock Market, By Type:

• Natural Gas
• Naphtha
• Ethane
• Coal

Petrochemical Feedstock 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

The key players operating the Petrochemical Feedstock Market includes, BASF SE, ExxonMobil Chemical, SABIC, Dow Chemical, Reliance, Sumitomo Chemical, INEOS, Chevron, LyondellBasell Industries, Formosa Plastics Corporation and others.

• In December 2022, The Saudi Arabian Oil Company (Aramco) and TotalEnergies has partnered to build up new petrochemical complex in Saudi Arabia. The ‘Amiral’ complex will be integrated with SATORP refinery in Jubail on eastern coast of Saudi Arabia. New petrochemical complex will able to produce advanced chemicals with high value chain in market.
• In November 2022, Chennai-based MPL (Manali Petrochemicals) acquired UK-based Penn Globe a market leader in chemical products and foam control agents. MPL acquired Penn Globe for GBP (British Pound Sterling) 21 million. This acquisition will strengthen the position of MPL in petrochemical market.
• In June 2022, Honeywell launched new technology ‘Honeywell UOP Ecofining’ for production of renewable naphtha or bio-naphtha with reduction in carbon dioxide footprint. The new launched solution can able to produce high yield and quality-based naphtha from feedstock like animal fats and used cooking oil for use as petrochemical feedstock.

• BASF SE
• ExxonMobil Chemical
• SABIC
• Dow Chemical
• Reliance
• Sumitomo Chemical
• INEOS
• Chevron
• LyondellBasell Industries
• Formosa Plastics Corporation