Petrochemical Market Report: Trends, Forecast and Competitive Analysis to 2030

Petrochemical Trends and Forecast

The future of the global petrochemical market looks promising with opportunities in the packaging, electronics, construction, and automotive markets. The global petrochemical market is expected to grow with a CAGR of 6.3% from 2024 to 2030. The major drivers for this market are expanding packaging industry and growing consumer goods sector and the rapid expansion of e-commerce, and growth in the electronics and electrical sector.

A more than 150-page report is developed to help in your business decisions.

Petrochemical by Segment

The study includes a forecast for the global petrochemical by product type, end use industry, and region.

Petrochemical Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:

• Ethylene
• Propylene
• Methanol
• Xylene
• Others

Petrochemical Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Packaging
• Electronics
• Construction
• Automotive
• Others

Petrochemical Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Petrochemical Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies petrochemical companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the petrochemical companies profiled in this report include-

• BASF
• Lyondellbasell Industries
• Ineos
• Shell
• Sabic
• Reliance Industries
• Mitsubishi Chemical
• Mitsubishi Chemical
• LG Chem
• Chevron Phillips Chemical

Petrochemical Market Insights

Lucintel forecasts that ethylene is expected to witness the highest growth over the forecast period due to rising usage of consumer goods, including packaging materials and household items.

Within this market, packaging will remain the largest segment due to burgeoning consumer goods sector and the swift rise of e-commerce.

APAC is expected to witness highest growth over the forecast period due to the flourishing chemicals industry and the growth in polymer consumption.

Features of the Global Petrochemical Market

Market Size Estimates: Petrochemical market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Petrochemical market size by product type, end use industry, and region in terms of value ($B).

Regional Analysis: Petrochemical market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product type, end use industry, and regions for the petrochemical market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the petrochemical market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the growth forecast for petrochemical market?

Answer: The global petrochemical market is expected to grow with a CAGR of 6.3% from 2024 to 2030.

Q2. What are the major drivers influencing the growth of the petrochemical market?

Answer: The major drivers for this market are expanding packaging industry and growing consumer goods sector and the rapid expansion of e-commerce, and growth in the electronics and electrical sector.

Q3. What are the major segments for petrochemical market?

Answer: The future of the petrochemical market looks promising with opportunities in the packaging, electronics, construction, and automotive markets.

Q4. Who are the key petrochemical market companies?

Answer: Some of the key petrochemical companies are as follows.

• BASF
• Lyondellbasell Industries
• Ineos
• Shell
• Sabic
• Reliance Industries
• Mitsubishi Chemical
• Mitsubishi Chemical
• LG Chem
• Chevron Phillips Chemical

Q5. Which petrochemical market segment will be the largest in future?

Answer: Lucintel forecasts that ethylene is expected to witness the highest growth over the forecast period due to rising usage of consumer goods, including packaging materials and household items.

Q6. In petrochemical market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to the flourishing chemicals industry and the growth in polymer consumption.

Q7. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the petrochemical market by product type (ethylene, propylene, methanol, xylene, and others), end use industry (packaging, electronics, construction, automotive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?