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Petrochemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global petrochemicals market reached a value of US$ 547.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 778.3 Billion by 2027, exhibiting a growth rate (CAGR) of 5.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Petrochemicals are chemical substances comprising ethylene, propylene, and benzene, which are derived from natural gas and petroleum. They are economical, cost-effective, durable and used to manufacture paints, alkyd resins, industrial de-greasers, odorless thinners, construction chemicals, dry cleaning products, cleaning and maintenance chemicals, insecticides, insecticides aerosols, and agricultural pesticides. They are also utilized in solar panels, thermal insulation for buildings, parts of electric vehicles, batteries, and wind-turbine blades. Apart from this, petrochemicals find extensive applications in the cosmetics, electronics, packaging, and textile industries across the globe.

 

 
 

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Petrochemicals Market Trends:

At present, there is a considerable rise in the utilization of polymer in the food and beverage (F&B) industry as it can help keep products fresh, prevent contamination, and increase their overall shelf-life. This, along with the growing demand for ethane in the manufacturing of olefins, represents one of the key factors driving the market. Besides this, there is an increase in the employment of petrochemicals in the automobile industry to design the body, tires, interiors, and dashboard of vehicles due to their lightweight, durability, and flexibility. This, coupled with the rising application of methanol to produce biodiesel and dimethyl ether, is propelling the growth of the market. In addition, the escalating demand for petrochemicals in the agriculture industry to manufacture plastic mulch, greenhouse covers, and tunnels for reducing water loss and ultraviolet (UV) levels is positively influencing the market. Furthermore, key manufacturers are focusing on the expansion of their production capacities to meet the petrochemicals demand and expand their consumer base. The rising use of petrochemicals in the paint and coating sector on account of their high solvency is projected to offer lucrative growth opportunities to industry investors.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global petrochemicals market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, application and end use industry.

Breakup by Type:

 

 
 

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  • Ethylene
  • Propylene
  • Butadiene
  • Benzene
  • Toluene
  • Xylene
  • Methanol
  • Others
     

Breakup by Application:

  • Polymers
  • Paints and Coatings
  • Solvents
  • Rubber
  • Adhesives and Sealants
  • Surfactants and Dyes
  • Others
     

Breakup by End Use Industry:

  • Packaging
  • Automotive and Transportation
  • Construction
  • Electrical and Electronics
  • Healthcare
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being BASF SE, Chevron Corporation, China National Petroleum Corporation, China Petrochemical Corporation, DuPont de Nemours Inc., Exxon Mobil Corporation, Formosa Plastics Corporation, Indian Oil Corporation Limited, INEOS Group Ltd., LyondellBasell Industries N.V., Reliance Industries Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Shell plc, Sumitomo Chemical Co. Ltd. and TotalEnergies SE.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Application, End Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered BASF SE, Chevron Corporation, China National Petroleum Corporation, China Petrochemical Corporation, DuPont de Nemours Inc., Exxon Mobil Corporation, Formosa Plastics Corporation, Indian Oil Corporation Limited, INEOS Group Ltd., LyondellBasell Industries N.V., Reliance Industries Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Shell plc, Sumitomo Chemical Co. Ltd. and TotalEnergies SE.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Petrochemicals Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Ethylene
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Propylene
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Butadiene
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Benzene
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Toluene
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Xylene
        6.6.1 Market Trends
        6.6.2 Market Forecast
    6.7    Methanol
        6.7.1 Market Trends
        6.7.2 Market Forecast
    6.8    Others
        6.8.1 Market Trends
        6.8.2 Market Forecast
7    Market Breakup by Application
    7.1    Polymers
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Paints and Coatings
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Solvents
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Rubber
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Adhesives and Sealants
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Surfactants and Dyes
        7.6.1 Market Trends
        7.6.2 Market Forecast
    7.7    Others
        7.7.1 Market Trends
        7.7.2 Market Forecast
8    Market Breakup by End Use Industry
    8.1    Packaging
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Automotive and Transportation
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Construction
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Electrical and Electronics
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Healthcare
        8.5.1 Market Trends
        8.5.2 Market Forecast
    8.6    Others
        8.6.1 Market Trends
        8.6.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape
    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    BASF SE
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
           14.3.1.3 Financials
           14.3.1.4 SWOT Analysis
        14.3.2    Chevron Corporation
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
           14.3.2.3 Financials
           14.3.2.4 SWOT Analysis
        14.3.3    China National Petroleum Corporation
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
           14.3.3.3 SWOT Analysis
        14.3.4    China Petrochemical Corporation
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
           14.3.4.3 Financials
           14.3.4.4 SWOT Analysis
        14.3.5    DuPont de Nemours Inc.
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 Financials
           14.3.5.4 SWOT Analysis
        14.3.6    Exxon Mobil Corporation
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
           14.3.6.3 Financials
           14.3.6.4 SWOT Analysis
        14.3.7    Formosa Plastics Corporation
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
           14.3.7.3 Financials
           14.3.7.4 SWOT Analysis
        14.3.8    Indian Oil Corporation Limited
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
        14.3.9    INEOS Group Ltd.
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
           14.3.9.3 Financials
           14.3.9.4 SWOT Analysis
        14.3.10    LyondellBasell Industries N.V.
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Reliance Industries Limited
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
           14.3.11.3 Financials
           14.3.11.4 SWOT Analysis
        14.3.12    Saudi Basic Industries Corporation (Saudi Arabian Oil Co.)
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio
           14.3.12.3 Financials
        14.3.13    Shell plc
           14.3.13.1 Company Overview
           14.3.13.2 Product Portfolio
           14.3.13.3 Financials
           14.3.13.4 SWOT Analysis
        14.3.14    Sumitomo Chemical Co. Ltd.
           14.3.14.1 Company Overview
           14.3.14.2 Product Portfolio
           14.3.14.3 Financials
           14.3.14.4 SWOT Analysis
        14.3.15    TotalEnergies SE
           14.3.15.1 Company Overview
           14.3.15.2 Product Portfolio
           14.3.15.3 Financials
           14.3.15.4 SWOT Analysis

List of Figures

Figure 1: Global: Petrochemicals Market: Major Drivers and Challenges
Figure 2: Global: Petrochemicals Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Petrochemicals Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Petrochemicals Market: Breakup by Type (in %), 2021
Figure 5: Global: Petrochemicals Market: Breakup by Application (in %), 2021
Figure 6: Global: Petrochemicals Market: Breakup by End Use Industry (in %), 2021
Figure 7: Global: Petrochemicals Market: Breakup by Region (in %), 2021
Figure 8: Global: Petrochemicals (Ethylene) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Petrochemicals (Ethylene) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Petrochemicals (Propylene) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Petrochemicals (Propylene) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Petrochemicals (Butadiene) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Petrochemicals (Butadiene) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Petrochemicals (Benzene) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Petrochemicals (Benzene) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Petrochemicals (Toluene) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Petrochemicals (Toluene) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Petrochemicals (Xylene) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Petrochemicals (Xylene) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Petrochemicals (Methanol) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Petrochemicals (Methanol) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Petrochemicals (Other Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Petrochemicals (Other Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Petrochemicals (Polymers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Petrochemicals (Polymers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Petrochemicals (Paints and Coatings) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Petrochemicals (Paints and Coatings) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Petrochemicals (Solvents) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Petrochemicals (Solvents) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Petrochemicals (Rubber) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Petrochemicals (Rubber) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Petrochemicals (Adhesives and Sealants) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Petrochemicals (Adhesives and Sealants) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Petrochemicals (Surfactants and Dyes) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Petrochemicals (Surfactants and Dyes) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Petrochemicals (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Petrochemicals (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Petrochemicals (Packaging) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Petrochemicals (Packaging) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Petrochemicals (Automotive and Transportation) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Petrochemicals (Automotive and Transportation) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Global: Petrochemicals (Construction) Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Petrochemicals (Construction) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Global: Petrochemicals (Electrical and Electronics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Global: Petrochemicals (Electrical and Electronics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Global: Petrochemicals (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Global: Petrochemicals (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Global: Petrochemicals (Other End Use Industries) Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Global: Petrochemicals (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: North America: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: North America: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: United States: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: United States: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Canada: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Canada: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Asia-Pacific: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Asia-Pacific: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: China: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: China: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Japan: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Japan: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: India: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: India: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: South Korea: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: South Korea: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Australia: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Australia: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Indonesia: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Indonesia: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Others: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Others: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Europe: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Europe: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Germany: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Germany: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: France: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: France: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: United Kingdom: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: United Kingdom: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Italy: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Italy: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Spain: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Spain: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: Russia: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: Russia: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Others: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: Others: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Latin America: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 89: Latin America: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 90: Brazil: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 91: Brazil: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 92: Mexico: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 93: Mexico: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 94: Others: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 95: Others: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 96: Middle East and Africa: Petrochemicals Market: Sales Value (in Million US$), 2016 & 2021
Figure 97: Middle East and Africa: Petrochemicals Market: Breakup by Country (in %), 2021
Figure 98: Middle East and Africa: Petrochemicals Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 99: Global: Petrochemicals Industry: SWOT Analysis
Figure 100: Global: Petrochemicals Industry: Value Chain Analysis
Figure 101: Global: Petrochemicals Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Petrochemicals Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Petrochemicals Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: Global: Petrochemicals Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 4: Global: Petrochemicals Market Forecast: Breakup by End Use Industry (in Million US$), 2022-2027
Table 5: Global: Petrochemicals Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Petrochemicals Market: Competitive Structure
Table 7: Global: Petrochemicals Market: Key Players


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Key Questions Answered in This Report

The global petrochemicals market was valued at US$ 547.4 Billion in 2021.

We expect the global petrochemicals market to exhibit a CAGR of 5.70% during 2022-2027.

The widespread utilization of petrochemicals in manufacturing paints, industrial de-greasers, odorless thinners, etc., owing to their cost-effective, durable, and lightweight properties, is primarily driving the global petrochemicals market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of numerous end use industries for petrochemicals.

Based on the type, the global petrochemicals market has been segmented into ethylene, propylene, butadiene, benzene, toluene, xylene, methanol, and others. Among these, ethylene represents the largest market share.

Based on the application, the global petrochemicals market can be bifurcated into polymers, paints and coatings, solvents, rubber, adhesives and sealants, surfactants and dyes, and others. Currently, polymers account for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America, where Asia-Pacific currently dominates the global market.

Some of the major players in the global petrochemicals market include BASF SE, Chevron Corporation, China National Petroleum Corporation, China Petrochemical Corporation, DuPont de Nemours Inc., Exxon Mobil Corporation, Formosa Plastics Corporation, Indian Oil Corporation Limited, INEOS Group Ltd., LyondellBasell Industries N.V., Reliance Industries Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), Shell plc, Sumitomo Chemical Co. Ltd., and TotalEnergies SE.

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