Overall, petrochemicals market demand growth in 2020 was driven by rising demand for consumer staples such as household goods and personal products, as well as a decrease in demand for durables like automobiles and appliances. Volume rebounded in the second half of 2020 after the early shocks of the COVID-19 pandemic. As the price of oil fell, the worldwide ethylene cost curve flattened, decreasing feedstock advantages in places like North America and the Middle East. Also, project delays were frequent because of quarantine procedures and concerns about market uncertainty.
Petrochemicals Market Report Scope and Research Methodology
The report provides a comprehensive analysis of the Petrochemicals market size, growth, supply, demand, share, innovations, and recent developments, and key stakeholders can use the simple statistics, tables, and figures for strategic planning that leads to the organization’s success. The report includes a detailed analysis of the Petrochemicals market’s competitive landscape, as well as Company Profile, Revenue, Product Specifications, Production Capacity/Sales, Price, and Gross Margin Sales. The bottom-up approach was used to estimate the value of the and regional Petrochemicals markets. The data collected using both primary and secondary research methodologies was combined to make the Petrochemicals market report authentic and error-free. The analyst obtained these figures from Petrochemicals industry experts and the company. representatives and externally validated them by analysing historical data of these product types and applications in order to obtain an accurate Petrochemicals market size. To define, characterize, and analyse the Petrochemicals market competition landscape, SWOT analysis and Porter’s Five Force Analysis are used, with a focus on key players.
Petrochemicals Market Overview:
Stellar Market Research provides a brief description of the Petrochemicals Market, as well as the most recent market snapshots. These aids understanding of its features by providing an overview of the Petrochemicals market that highlights standard topics. This overview assists clients in comprehending the situation in the Petrochemicals industry.
Petrochemicals Market size was valued at US $445.6 Billion in 2020 and the Petrochemicals market revenue is expected to grow at 4.92% through 2021 to 2027, reaching nearly US $620 Billion
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Petrochemicals Market Regional Insights:
By providing detailed information on key players in each key country, the report assists clients in understanding the Petrochemicals market structure. It is a clear representation of local energy, economic, political, and geographic variables that is required for any meaningful evaluation of potential policy options in response to the development of the Petrochemicals market in each region. The report covers North America, Asia Pacific, Europe, South America, and the Middle East and Africa.
Petrochemicals Market Dynamics:
Brent crude prices fell from US $50 per barrel in the first quarter to US $30 per barrel in the second quarter, resulting in a significant drop in petrochemicals market revenue. As a result, petrochemical businesses’ revenue fell sharply in the second quarter, before rebounding in the third and fourth quarters. In the second quarter, earnings before interest, taxes, depreciation, and amortization (EBITDA) fell across the board, owing to pandemic-related margin contraction and weaker demand.
Petrochemicals Market Segmentation:
Based on Type: In 2020, the Aromatics segment was dominant and held xx% of the global petrochemicals market in terms of revenue. In Aromatics, ethylene was dominant. This can be related to its dominant consumption and an important source for plastics and industrial chemicals production globally/
Petrochemicals Market Key Players:
Chevron Corporation (United States)
China National Petroleum Corporation (CNPC) (China)
China Petrochemical Corporation (SINOPEC) (China)
Exxon Mobil Corporation (United States)
INEOS Group Ltd. (United Kingdom)
Royal Dutch Shell (Netherlands)
BP PLC (United Kingdom)
Reliance Industries (India)
Gazprom (Russia)
Phillips 66 (United States)
Rosneft (Russia)
Equinor ASA (Norway)
PJSC Lukoil (Russia)
SABIC (Saudi Arabia)
Abu Dhabi National Oil Company (ADNOC) (Abu Dhabi)
Key questions answered in the Petrochemicals Market are:
- What is Petrochemicals Market?
- What are the Petrochemicals Market segments?
- Which Petrochemicals market segment is expected to grow at a high rate during the forecast period?
- Who are the top players in the Petrochemicals market industry?
- What is the expected Petrochemicals Market size by 2029?
- What was the Petrochemicals Market size in 2021?
- Which region is expected to grow at a high CAGR?
- Who held the largest market share in Petrochemicals Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis of segments and sub-segments
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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