Petrochemicals Industry Data Book - Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030
Petrochemicals Industry Data Book | Forecast 2030
Petrochemicals Industry Data Book - Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene and Methanol Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030
Grand View Research’s petrochemicals industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with a statistics e-book.
Access the Global Petrochemicals Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Petrochemicals Market Report Highlights
The global petrochemicals market size is expected to reach USD 1002.45 billion by 2030, as per the new report by Grand View Research, Inc. It is expected to expand at a CAGR of 7.0% from 2023 to 2030.
- The methanol product segment is expected to expand at the highest revenue-based CAGR of 8.8% over the forecast period. The demand is attributed to the increase in demand for methanol in manufacturing biodiesel, which is biodegradable, safe, and produces fewer air pollutants as compared to other fuels
- Surged use of polyethylene, High-density Polyethylene (HDPE), and Low-density Polyethylene (LDPE) is expected to foster the overall growth of the market for petrochemicals.
- The butadiene product segment is expected to be an emerging segment in the coming years as it is a key building block used in the manufacturing of several chemicals and materials employed in the industries such as consumer durables, healthcare, and building and construction
- Manufacturers have adopted joint ventures and acquisitions as major strategies to increase their global presence
Order your copy of the Free Sample of “Petrochemicals Industry Data Book - Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene and Methanol Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030”, published by Grand View Research
Benzene Market Report Highlights
The global benzene market size is expected to reach USD 74.32 billion by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.1% from 2022 to 2030.
- The global market is estimated to advance with a growth rate at a CAGR of 6.1% from 2022 to 2030. This is attributed to the wide range of uses of the product in industries such as automobile, personal care, pharmaceuticals, packaging, and others
- Asia Pacific dominated the global market in 2022 with a revenue share of over 45.20%. This is owed to increasing demand for home appliances, automobiles, packaging in food & beverages and pharmaceutical, and personal care in the region
- The increasing demand for benzene in the Asia Pacific has also resulted in several companies increasing their production capacities. For instance, Hengyi Petrochemical of china has set up a naphtha cracker plant in 2021 which will increase its production capacity of benzene by 80,000 TPA. Additionally, Reliance industries one of the major producers of benzene in India has increased its production capacity to 1400KTA
- Ethylbenzene dominated the derivative segment with a revenue share of 53.69% in 2022. This growth is attributed to the fact that a major portion of ethylbenzene goes into the production of styrene which has its demand in several major industries such as rubber, packaging, and automobiles
- Automobile application in the ethylbenzene derivative by end-use segment held a revenue share of 43.53%. This is due to the fact that styrene produced from ethylbenzene finds its major usage in automobile parts and tires due to its unique properties of low rolling friction, abrasion resistance, and high traction during braking
- Catalytic reforming in the production process dominated the global market with a revenue share of 49.32% in 2022. This is attributed to the fact that this method gives high yield and is useful for the production of benzene in large quantity
Go through the table of content of Petrochemicals Industry Data Book to get a better understanding of the Coverage & Scope of the study
Methanol Market Report Highlights
- Methanol to Olefins (MTO) segment is anticipated to expand at a CAGR of 6.6%, in terms of revenue, from 2019 to 2025 as they are used in large quantities for the production of propylene and ethylene, used for producing synthetic rubber, synthetic plastic, pharmaceuticals, and textile dyes
- The U.S. methanol market is anticipated to reach 7,769.5 kilotons by 2025. Development of shale gas has encouraged manufacturers to step up their efforts to increase their production capacity
- Asia Pacific is expected to account for the largest market share in terms of volume as well as revenue, over the forecast period. Factors such as rising affordability and rapid industrialization in countries such as China, India, and Japan are expected to drive the regional demand
- Some of the key market participants are Zagros Petrochemical Company, BASF, Celanese Corporation, Mitsui & Co., Ltd, Saudi Arabia Basic Industries Corporation (SABIC), Methanex Corporation, Petroliam Nasional Berhad, and Valero Marketing & Supply Company
- Prominent market players engage in developing novel production technologies and expansion of their plant capacities to gain competitive advantage
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Competitive Insights
Petrochemicals markets across the globe returned to making profits in 2021. This was driven by the global economic recovery, rise in crude oil prices, supply restrictions, and high shipping cost. The average EBITDA margin for top 100 petrochemical players increased to approximately 20% as compared to 14% in 2019. In 2021, the price of crude oil has continued to increase, resulting in significant profits for this industry participants.
The key players in this market include China Petrochemical Corporation (SINOPEC), ExxonMobil Corporation, Royal Dutch Shell PLC, and China National Petroleum Corporation. These companies dominate the petrochemicals market with their extensive presence throughout the value chain.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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