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LONDON, GREATER LONDON, UK, July 10, 2019 /EINPresswire.com/ — The petrochemicals market expected to reach a value of nearly $526 billion by 2022, significantly growing at a growth rate of around 5% during the forecast period. The steady growth in the petrochemicals market is due to stability in oil prices.
However, the market for petrochemicals is expected to face certain restraints from several factors such as oil price volatility and stringent government regulations.
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The petrochemicals market consists of the sales of petrochemicals by entities (organizations, sole traders or partnerships) that produce acyclic (i.e., aliphatic) hydrocarbons such as ethylene, propylene, and butylene made from refined petroleum or liquid hydrocarbons and/or produce cyclic aromatic hydrocarbons such as benzene, toluene, styrene, xylene, ethyl benzene, and cumene made from refined petroleum or liquid hydrocarbons.
The Global Petrochemicals Market Is Further Segmented Based On Type And Geography:
By Type – The petrochemicals market is segmented into ethylene-petrochemicals, propylene-petrochemicals, benzene-petrochemicals, xylene, styrene-petrochemicals, toluene, cumene, others – petrochemicals. Among these segments, ethylene-petrochemicals market accounts for the largest share in the global petrochemicals market.
By Geography – The global petrochemicals is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific accounted for the largest region in the global petrochemicals market
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Trends In The Petrochemicals Market
Petrochemical companies are increasingly using automation and instrumentation solutions to control the production process more effectively. Automation instruments include control valves, temperature transmitters, level transmitters, flow transmitters and pressure transmitters that help to improve an organizations operational efficiency. For example, Siemens process instrumentation and gas analytics solutions increases productivity and efficiency during plant operations.
Potential Opportunities In The Petrochemicals Market
With stability in oil prices and growing demand of petrochemicals in end user industries, the scope and potential for the global petrochemicals market is expected to significantly rise in the forecast period.
Major players in the global petrochemicals market include Saudi Basic Industries Corporation (SABIC), Sinopec, Royal Dutch Shell Plc, LyondellBasell Industries, INEOS AG.
Petrochemicals Global Market Report 2019 is one of a series of new reports from The Business Research Company that provides petrochemicals market overviews, analyzes and forecasts petrochemicals market size and growth for the global petrochemicals market, petrochemicals market share, petrochemicals market players, petrochemicals market size, petrochemicals market segments and geographies, petrochemicals market trends, petrochemicals market drivers and petrochemicals market restraints, petrochemicals market’s leading competitors’ revenues, profiles and market shares. The petrochemicals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Where To Learn More
Read Petrochemicals Global Market Report 2019 from The Business Research Company for information on the following:
Markets Covered: global petrochemicals market, ethylene-petrochemicals, propylene-petrochemicals, benzene-petrochemicals, xylene, styrene-petrochemicals, toluene, cumene, others – petrochemicals.
Data Segmentations: petrochemicals market size, global and by country; historic and forecast size, and growth rates for the world, 7 regions and 12 countries
Petrochemicals Market Organizations Covered: Saudi Basic Industries Corporation (SABIC), Sinopec, Royal Dutch Shell Plc, LyondellBasell Industries, INEOS AG
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Time Series: Five years historic (2014-18) and forecast (2018-22).
Other Information And Analyses: PESTEL analysis, petrochemicals market customer information, petrochemicals market product/service analysis – product examples, petrochemicals market trends and opportunities, drivers and restraints, key mergers and acquisitions, key metrics covered: number of enterprises, number of employees, global petrochemicals market in 2019 – countries offering most new opportunities
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Petrochemicals Industry: The report explains a number of strategies for companies in the petrochemicals market, based on industry trends and company analysis.
Opportunities For Companies In The Petrochemicals Sector: The report reveals where the global petrochemicals industry will put on most $ sales up to 2022.
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Source: EIN Presswire