Revenue in global basic petrochemicals industry to reach US$821.8B in 2018, driven by lower feedstock cost advantage, end-user segment market demand, says report
May 31, 2013
– Revenue in the global basic petrochemicals industry is estimated to reach $821.8 billion in 2018 with good growth over the next five years (2013-2018). Lower feedstock cost advantage and end-user segment market demand are the main drivers of the industry. Technological evolution and emerging applications of chemicals in various areas drives the demand.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis of the industry and presents its findings in “Global Basic Petrochemicals Industry 2013-2018: Trend, Profit, and Forecast Analysis.” Global basic petrochemicals consist of basic building blocks of chemicals such as olefins, aromatics, and synthesis gas. The industry is capital intensive and fragmented as there are large numbers of players worldwide.
As per the study, growing demand from end-user markets such as automotive, construction, chemicals base products, consumer durables, and non-durable products will drive demand over the forecast period. Asia Pacific (APAC) and North America are forecast to witness the highest growth over the next five years. Increasing population ratio in the APAC region drives the demand of consumer durables products such as food and packaging materials.
Both APAC and the Middle East are key areas in the production of basic petrochemicals as they have reserves of crude oil and natural gas, which increases the self-dependency on the raw materials for manufacturing. North America is anticipated to have great opportunity in the future market due to the discovery of shale gas resources. The US has a more economical feedstock to produce lighter hydrocarbon chain as compared to naphtha-based produced ethane.
This industry research report provides an overview of the global basic petrochemicals industry, tracking eight market segments of that industry in four geographic regions. The report studies manufacturers of basic petrochemicals, providing a five-year annual trend analysis that highlights market size, profit and cost structure for North America, Europe, APAC, and the Rest of the World. The report also provides a forecast, addressing market opportunities for the next five years (2013-2018) for each of these regions.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel’s Opportunity Screening, Chemical Consulting and Business Strategy Consulting services support decision makers in achieving their growth objectives.