The petrochemicals market size is projected to reach US$ 685.01 billion by 2031 from US$ 457.57 billion in 2023. The market is expected to register a CAGR of 5.2% during 2023–2031. Due to the growing demand for packaging products, petrochemicals have gained traction across the globe. As petrochemicals are required to manufacture various polymers, their utilization is trending in various industries.
Petrochemicals Market Analysis
Petrochemicals play a major role in making packaging solutions, primarily due to their versatility, durability, and cost-effectiveness. The most common petrochemical-based plastics include polyethylene, polypropylene, polyethylene terephthalate (PET), polyvinyl chloride, and polystyrene. Polyethylene is widely used in plastic bags and film wraps due to its flexibility and moisture resistance, while PET is utilized in manufacturing beverage bottles. Moreover, petrochemical-based polymers such as polyamide, polypropylene, polystyrene, high-density polyethylene, thermoplastic elastomers, polyurethane, polycarbonate, and polyvinyl chloride are widely used in the automotive industry as these polymers offer excellent durability and resistance to corrosion.
Petrochemicals Market Overview
The petrochemicals market is a critical segment of the global chemical industry and involves production and distribution of chemicals derived from petroleum and natural gas. These chemicals are essential in manufacturing a wide range of products, such as packaging materials, polymers, synthetic fibers, industrial chemicals, solvents, and coatings, among others. One of the significant driving factors for the petrochemicals market is the growing demand for polymers across end-use industries. Polymers derived from petrochemicals have wide range of applications such as packaging, automotive, electronics, and construction. The automotive industry relies on plastics and polymers for manufacturing lightweight components that enhance fuel efficiency and reduce emissions. Technological advancement in petrochemical production processes have also propelled the market growth.
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Petrochemicals Market: Strategic Insights
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Petrochemicals Market: Strategic Insights
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Petrochemicals Market Drivers and Opportunities
Surge in Demand for Polymers across Various End-Use Industries
Petrochemical-based polymers such as polyamide, polypropylene, polystyrene, high-density polyethylene, thermoplastic elastomers, polyurethane, polycarbonate, and polyvinyl chloride are widely used in the automotive industry as these polymers offer excellent durability and resistance to corrosion. According to the CDI Products Company, the automotive industry is a significant consumer of polymers. These polymers enhance the longevity of automotive components, including interior parts and exterior body panels, as well as under-the-hood applications. As per the Plastics Europe 2023 report, the global production of plastics increased from 380.4 million tons in 2020 to 400.3 million tons in 2022.
According to the CDI Products Company, the automotive industry has various applications of petrochemical-based polymers, including PTFE seals, O-rings, bearings and thrust bearings, low-drag mudflaps, suspension cylinder seals, sensor covers, diaphragms, rotary seals, custom-made gaskets, wiring harnesses & housing, and battery sealing for pressure valves, among others. The EU registered the production of more than 9 million cars in the first three quarters of 2023, a rise of 14% from the same quarter in 2022, as per the European Automobile Manufacturers' Association. The growing utilization of polymers in the automotive industry, coupled with the developments in the automotive industry, fuels the demand for petrochemicals.
Growing Investments in Aerospace & Defense Industry
According to the European Commission, the European Union established Horizon Europe in 2021, a research and innovation program with a total budget of ~US$ 103 billion, which also focuses on aerospace research. Governments of various countries have increased investments in aerospace-related research, including defense and ballistic protection, owing to a rise in security risks and the need to enhance national border security. For instance, the Ministry of Defense (India) published a report in 2022 stating its target of increasing defense production to US$ 22 billion by 2025. The report also revealed that the government started initiatives such as Innovations for Defense Excellence and Technology Development Fund to provide financial assistance for product innovations for the Armed Forces. In the US, the aviation sector is significantly growing due to the presence of established aircraft manufacturers such as The Boeing Company and Gulfstream Aerospace Corporation. The aerospace manufacturing industry in Canada significantly produces aircraft components for commercial use, supported by funding from the government. According to the report by the International Trade Association, the government of Canada provided support of US$ 1.36 billion to the aerospace sector in 2021–2022, through Federal Strategic Innovation Fund. France is the home to five major aircraft manufacturers—Airbus SE (large commercial and military aircraft, drones, and spacecraft), Airbus Helicopters SAS, Dassault Aviation SA (high-end business jets, fighter aircraft, and UAVs), ATR (passenger and cargo turboprop aircraft for regional transport), and Daher (TBM and Kodiak light aircraft and business turboprops). As per the International Trade Administration (ITA), France has full-range military production capabilities, including fighter jets, nuclear submarines, aircraft carriers, and ballistic missile production.
According to the report by the International Trade Administration, the UAE government has invested in various initiatives in the aerospace industry, thus increasing the number of partnerships among market players and original equipment manufacturers (OEMs). In 2023, Markab Capital invested US$ 180 million to build a civil aircraft manufacturing facility in the UAE by signing an agreement with Super Jet International. The first production phase included an annual production capacity of 10–15 aircraft. Petrochemicals and petrochemical-derived products are used in lubricants, greases, aviation fuels, and aerospace components. Thus, the rising investments in the aerospace & defense industry are expected to create lucrative opportunities for the petrochemicals market growth during the forecast period.
Petrochemicals Market Report Segmentation Analysis
Key segments that contributed to the derivation of the petrochemicals market analysis are type, application, and end-use industry.
- Based on type, the petrochemicals market is segmented into ethylene, benzene, propylene, xylene, and others. The ethylene segment held the largest market share in 2023.
- By application, the market is categorized into polymers, paints and coatings, solvent, rubber, adhesives, surfactants, and others. The polymers segment held the largest share of the market in 2023.
In terms of end-use industry, the market is segmented into packaging, automotive, construction, electrical & electronics, healthcare, agriculture, aerospace & defense, and others. In 2023, the packaging segment dominated the market.
Petrochemicals Market Share Analysis by Geography
The geographic scope of the petrochemicals market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
In 2023, Asia Pacific dominated the petrochemicals market. The growth of the petrochemicals market in Asia Pacific is propelled by the region's robust economic development and industrialization. Asia Pacific countries are at the forefront of this market expansion, leveraging their extensive industrial bases, increasing consumer markets, and making strategic investments in petrochemical infrastructure to enhance their market presence. As rapid urbanization and infrastructure development in China, India, and Southeast Asian nations have led to increased construction activities, such as transportation networks, energy facilities, and public amenities, the construction industry has become a major consumer of petrochemicals. Under the Sustainable Development Goals 2030, the Asian Development Bank has announced its plans to build resilient infrastructure, promote inclusive and sustainable industrialization, and support product innovation in Asia Pacific.
Petrochemicals Market Report Scope
Petrochemicals Market News and Recent Developments
The petrochemicals market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the petrochemicals market are listed below:
- Shell Deutschland GmbH has taken a final investment decision (FID) to convert the hydrocracker of the Wesseling site at the Energy and Chemicals Park Rheinland into a production unit for Group III base oils, used in making high-quality lubricants such as engine and transmission oils. Crude oil processing will be completed at the Wesseling site by 2025 but will continue at the Godorf site. (Source: Shell Deutschland GmbH, Press Release, January 2024)
- A joint venture between SABIC and Fujian Energy and Petrochemical Group Co. Ltd. (Fujian Energy Petrochemical) held a groundbreaking ceremony to mark the start of the full execution and construction phase of the SABIC Fujian Petrochemical Complex (Sino-Saudi Gulei Ethylene Complex Project) in Fujian Province, China. (Source: SABIC, Press Release, February 2024)
- In line with its customer-focused corporate strategy, BASF has expanded capacities for ethylene oxide and ethylene oxide derivatives at its Verbund site in Antwerp, Belgium. (Source: BASF SE, Press Release, October 2023)
Petrochemicals Market Report Coverage and Deliverables
The “Petrochemicals Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Petrochemicals market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Petrochemicals market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed Porter’s Five Forces and SWOT analysis
- Petrochemicals market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the petrochemicals market
- Detailed company profiles
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The major players operating in the global petrochemicals market are Shell International BV, China Petroleum Corporation, LyondellBasell Industries Holdings BV, Chevron Phillips Chemical Company LLC, SABIC, BASF SE, BP Plc, INEOS, DOW Inc, and Mitsubishi Chemical Corp.
Growing investments in the aerospace & defense industry act as a significant future opportunity for the petrochemicals market. Governments of various countries have increased investments in aerospace-related research, including defense and ballistic protection, owing to a rise in security risks and the need to enhance national border security.
Ethylene is a colorless, flammable gas that has an odor and sweet taste. Ethylene can be sourced primarily from two natural sources, including both natural gas and petroleum. It is a crucial industrial chemical derived from petrochemicals. It is produced by either heating natural gas or petroleum to 800°C–900°C, where ethylene is separated from the mixture of gases. The melting point of ethylene is −169.4°C, and its boiling point is −103.9°C.
Asia Pacific accounted for the largest share of the global petrochemicals market. The growth of the petrochemicals market in Asia Pacific is propelled by the region's robust economic development and industrialization. The abovementioned countries are at the forefront of this market expansion, leveraging their extensive industrial bases, increasing consumer markets, and making strategic investments in petrochemical infrastructure to enhance their market presence.
Polymers segment is expected to grow at the fastest CAGR during the forecast period. A few of the key petrochemicals, such as ethylene, propylene, and benzene, serve as fundamental building blocks in polymer synthesis. Ethylene is polymerized to produce polyethylene; it is a type of plastic that is used in packaging materials, containers, and household goods. Propylene is crucial for making polypropylene, valued for its strength and flexibility in applications ranging from automotive parts to textiles.
Petrochemicals play a major role in making packaging solutions, primarily due to their versatility, durability, and cost-effectiveness. The most common petrochemical-based plastics include polyethylene, polypropylene, polyethylene terephthalate (PET), polyvinyl chloride, and polystyrene. Polyethylene is widely used in plastic bags and film wraps due to its flexibility and moisture resistance, while PET is utilized in manufacturing beverage bottles.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Petrochemicals Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Crude Oil and Feedstock Preparation
4.3.2 Petrochemicals Manufacturers
4.3.3 Distributors
4.3.4 End-Use Industry
4.3.5 List of Vendors in the Value Chain
5. Petrochemicals Market – Key Market Dynamics
5.1 Petrochemicals Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Growth in the Packaging Industry
5.2.2 Surge in Demand for Polymers across Various End-Use Industries
5.3 Market Restraints
5.3.1 Fluctuations in the Crude Oil Prices
5.4 Market Opportunities
5.4.1 Growing Investments in Aerospace & Defense Industry
5.5 Future Trends
5.5.1 Development of Biodegradable Petrochemical-Based Products
5.6 Impact of Drivers and Restraints:
6. Petrochemicals Market – Global Market Analysis
6.1 Petrochemicals Market Volume (Million Tons), 2021–2031
6.2 Petrochemicals Market Volume Forecast and Analysis (Million Tons)
6.3 Petrochemicals Market Revenue (US$ Billion), 2023–2031
6.4 Petrochemicals Market Forecast and Analysis
7. Petrochemicals Market – Global Market Analysis
7.1 Petrochemicals Market Volume (Million Tons), 2021–2031
7.2 Petrochemicals Market Volume Forecast and Analysis (Million Tons)
7.3 Petrochemicals Market Revenue (US$ Billion), 2023–2031
7.4 Petrochemicals Market Forecast and Analysis
8. Petrochemicals Market Volume and Revenue Analysis – by Type
8.1 Ethylene
8.1.1 Overview
8.1.2 Ethylene: Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
8.1.3 Ethylene: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
8.2 Benzene
8.2.1 Overview
8.2.2 Benzene: Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
8.2.3 Benzene: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
8.3 Propylene
8.3.1 Overview
8.3.2 Propylene: Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
8.3.3 Propylene: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
8.4 Xylene
8.4.1 Overview
8.4.2 Xylene: Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
8.4.3 Xylene: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
8.5 Others
8.5.1 Overview
8.5.2 Others: Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
8.5.3 Others: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
9. Petrochemicals Market Revenue Analysis – by Application
9.1 Polymers
9.1.1 Overview
9.1.2 Polymers: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
9.2 Paints and Coatings
9.2.1 Overview
9.2.2 Paints and Coatings: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
9.3 Solvent
9.3.1 Overview
9.3.2 Solvent: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
9.4 Rubber
9.4.1 Overview
9.4.2 Rubber: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
9.5 Adhesives
9.5.1 Overview
9.5.2 Adhesives: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
9.6 Surfactants
9.6.1 Overview
9.6.2 Surfactants: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
9.7 Others
9.7.1 Overview
9.7.2 Others: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
10. Petrochemicals Market Revenue Analysis – by End-use Industry
10.1 Packaging
10.1.1 Overview
10.1.2 Packaging: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
10.2 Automotive
10.2.1 Overview
10.2.2 Automotive: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
10.3 Construction
10.3.1 Overview
10.3.2 Construction: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
10.4 Electrical and Electronics
10.4.1 Overview
10.4.2 Electrical and Electronics: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
10.5 Healthcare
10.5.1 Overview
10.5.2 Healthcare: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
10.6 Agriculture
10.6.1 Overview
10.6.2 Agriculture: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
10.7 Aerospace and Defense
10.7.1 Overview
10.7.2 Aerospace and Defense: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
10.8 Others
10.8.1 Overview
10.8.2 Others: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11. Petrochemicals Market – Geographical Analysis
11.1 Overview
11.2 North America
11.2.1 North America Petrochemicals Market Overview
11.2.2 North America Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
11.2.3 North America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.2.4 North America Petrochemicals Market Breakdown by Type
11.2.4.1 North America Petrochemicals Market Volume and Forecast and Analysis – by Type
11.2.4.2 North America Petrochemicals Market Revenue and Forecast and Analysis – by Type
11.2.5 North America Petrochemicals Market Breakdown by Application
11.2.5.1 North America Petrochemicals Market Revenue and Forecast and Analysis – by Application
11.2.6 North America Petrochemicals Market Breakdown by End-use Industry
11.2.6.1 North America Petrochemicals Market Revenue and Forecast and Analysis – by End-use Industry
11.2.7 North America Petrochemicals Market Revenue and Forecast and Analysis – by Country
11.2.7.1 North America Petrochemicals Market Volume and Forecast and Analysis – by Country
11.2.7.2 North America Petrochemicals Market Revenue and Forecast and Analysis – by Country
11.2.7.3 United States Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.2.7.3.1 United States Petrochemicals Market Breakdown by Type
11.2.7.3.2 United States Petrochemicals Market Breakdown by Application
11.2.7.3.3 United States Petrochemicals Market Breakdown by End-use Industry
11.2.7.4 Canada Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.2.7.4.1 Canada Petrochemicals Market Breakdown by Type
11.2.7.4.2 Canada Petrochemicals Market Breakdown by Application
11.2.7.4.3 Canada Petrochemicals Market Breakdown by End-use Industry
11.2.7.5 Mexico Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.2.7.5.1 Mexico Petrochemicals Market Breakdown by Type
11.2.7.5.2 Mexico Petrochemicals Market Breakdown by Application
11.2.7.5.3 Mexico Petrochemicals Market Breakdown by End-use Industry
11.3 Europe
11.3.1 Europe Petrochemicals Market Overview
11.3.2 Europe Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
11.3.3 Europe Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.3.4 Europe Petrochemicals Market Breakdown by Type
11.3.4.1 Europe Petrochemicals Market Volume and Forecast and Analysis – by Type
11.3.4.2 Europe Petrochemicals Market Revenue and Forecast and Analysis – by Type
11.3.5 Europe Petrochemicals Market Breakdown by Application
11.3.5.1 Europe Petrochemicals Market Revenue and Forecast and Analysis – by Application
11.3.6 Europe Petrochemicals Market Breakdown by End-use Industry
11.3.6.1 Europe Petrochemicals Market Revenue and Forecast and Analysis – by End-use Industry
11.3.7 Europe Petrochemicals Market Revenue and Forecast and Analysis – by Country
11.3.7.1 Europe Petrochemicals Market Volume and Forecast and Analysis – by Country
11.3.7.2 Europe Petrochemicals Market Revenue and Forecast and Analysis – by Country
11.3.7.3 Germany Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.3.7.3.1 Germany Petrochemicals Market Breakdown by Type
11.3.7.3.2 Germany Petrochemicals Market Breakdown by Application
11.3.7.3.3 Germany Petrochemicals Market Breakdown by End-use Industry
11.3.7.4 France Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.3.7.4.1 France Petrochemicals Market Breakdown by Type
11.3.7.4.2 France Petrochemicals Market Breakdown by Application
11.3.7.4.3 France Petrochemicals Market Breakdown by End-use Industry
11.3.7.5 Italy Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.3.7.5.1 Italy Petrochemicals Market Breakdown by Type
11.3.7.5.2 Italy Petrochemicals Market Breakdown by Application
11.3.7.5.3 Italy Petrochemicals Market Breakdown by End-use Industry
11.3.7.6 United Kingdom Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.3.7.6.1 United Kingdom Petrochemicals Market Breakdown by Type
11.3.7.6.2 United Kingdom Petrochemicals Market Breakdown by Application
11.3.7.6.3 United Kingdom Petrochemicals Market Breakdown by End-use Industry
11.3.7.7 Russia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.3.7.7.1 Russia Petrochemicals Market Breakdown by Type
11.3.7.7.2 Russia Petrochemicals Market Breakdown by Application
11.3.7.7.3 Russia Petrochemicals Market Breakdown by End-use Industry
11.3.7.8 Rest of Europe Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.3.7.8.1 Rest of Europe Petrochemicals Market Breakdown by Type
11.3.7.8.2 Rest of Europe Petrochemicals Market Breakdown by Application
11.3.7.8.3 Rest of Europe Petrochemicals Market Breakdown by End-use Industry
11.4 Asia Pacific
11.4.1 Asia Pacific Petrochemicals Market Overview
11.4.2 Asia Pacific Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
11.4.3 Asia Pacific Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.4.4 Asia Pacific Petrochemicals Market Breakdown by Type
11.4.4.1 Asia Pacific Petrochemicals Market Volume and Forecast and Analysis – by Type
11.4.4.2 Asia Pacific Petrochemicals Market Revenue and Forecast and Analysis – by Type
11.4.5 Asia Pacific Petrochemicals Market Breakdown by Application
11.4.5.1 Asia Pacific Petrochemicals Market Revenue and Forecast and Analysis – by Application
11.4.6 Asia Pacific Petrochemicals Market Breakdown by End-use Industry
11.4.6.1 Asia Pacific Petrochemicals Market Revenue and Forecast and Analysis – by End-use Industry
11.4.7 Asia Pacific Petrochemicals Market Revenue and Forecast and Analysis – by Country
11.4.7.1 Asia Pacific Petrochemicals Market Volume and Forecast and Analysis – by Country
11.4.7.2 Asia Pacific Petrochemicals Market Revenue and Forecast and Analysis – by Country
11.4.7.3 Australia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.4.7.3.1 Australia Petrochemicals Market Breakdown by Type
11.4.7.3.2 Australia Petrochemicals Market Breakdown by Application
11.4.7.3.3 Australia Petrochemicals Market Breakdown by End-use Industry
11.4.7.4 China Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.4.7.4.1 China Petrochemicals Market Breakdown by Type
11.4.7.4.2 China Petrochemicals Market Breakdown by Application
11.4.7.4.3 China Petrochemicals Market Breakdown by End-use Industry
11.4.7.5 India Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.4.7.5.1 India Petrochemicals Market Breakdown by Type
11.4.7.5.2 India Petrochemicals Market Breakdown by Application
11.4.7.5.3 India Petrochemicals Market Breakdown by End-use Industry
11.4.7.6 Japan Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.4.7.6.1 Japan Petrochemicals Market Breakdown by Type
11.4.7.6.2 Japan Petrochemicals Market Breakdown by Application
11.4.7.6.3 Japan Petrochemicals Market Breakdown by End-use Industry
11.4.7.7 South Korea Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.4.7.7.1 South Korea Petrochemicals Market Breakdown by Type
11.4.7.7.2 South Korea Petrochemicals Market Breakdown by Application
11.4.7.7.3 South Korea Petrochemicals Market Breakdown by End-use Industry
11.4.7.8 Rest of APAC Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.4.7.8.1 Rest of APAC Petrochemicals Market Breakdown by Type
11.4.7.8.2 Rest of APAC Petrochemicals Market Breakdown by Application
11.4.7.8.3 Rest of APAC Petrochemicals Market Breakdown by End-use Industry
11.5 Middle East and Africa
11.5.1 Middle East and Africa Petrochemicals Market Overview
11.5.2 Middle East and Africa Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
11.5.3 Middle East and Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.5.4 Middle East and Africa Petrochemicals Market Breakdown by Type
11.5.4.1 Middle East and Africa Petrochemicals Market Volume and Forecast and Analysis – by Type
11.5.4.2 Middle East and Africa Petrochemicals Market Revenue and Forecast and Analysis – by Type
11.5.5 Middle East and Africa Petrochemicals Market Breakdown by Application
11.5.5.1 Middle East and Africa Petrochemicals Market Revenue and Forecast and Analysis – by Application
11.5.6 Middle East and Africa Petrochemicals Market Breakdown by End-use Industry
11.5.6.1 Middle East and Africa Petrochemicals Market Revenue and Forecast and Analysis – by End-use Industry
11.5.7 Middle East and Africa Petrochemicals Market Revenue and Forecast and Analysis – by Country
11.5.7.1 Middle East and Africa Petrochemicals Market Volume and Forecast and Analysis – by Country
11.5.7.2 Middle East and Africa Petrochemicals Market Revenue and Forecast and Analysis – by Country
11.5.7.3 South Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.5.7.3.1 South Africa Petrochemicals Market Breakdown by Type
11.5.7.3.2 South Africa Petrochemicals Market Breakdown by Application
11.5.7.3.3 South Africa Petrochemicals Market Breakdown by End-use Industry
11.5.7.4 Saudi Arabia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.5.7.4.1 Saudi Arabia Petrochemicals Market Breakdown by Type
11.5.7.4.2 Saudi Arabia Petrochemicals Market Breakdown by Application
11.5.7.4.3 Saudi Arabia Petrochemicals Market Breakdown by End-use Industry
11.5.7.5 United Arab Emirates Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.5.7.5.1 United Arab Emirates Petrochemicals Market Breakdown by Type
11.5.7.5.2 United Arab Emirates Petrochemicals Market Breakdown by Application
11.5.7.5.3 United Arab Emirates Petrochemicals Market Breakdown by End-use Industry
11.5.7.6 Rest of Middle East and Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.5.7.6.1 Rest of Middle East and Africa Petrochemicals Market Breakdown by Type
11.5.7.6.2 Rest of Middle East and Africa Petrochemicals Market Breakdown by Application
11.5.7.6.3 Rest of Middle East and Africa Petrochemicals Market Breakdown by End-use Industry
11.6 South and Central America
11.6.1 South and Central America Petrochemicals Market Overview
11.6.2 South and Central America Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
11.6.3 South and Central America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.6.4 South and Central America Petrochemicals Market Breakdown by Type
11.6.4.1 South and Central America Petrochemicals Market Volume and Forecast and Analysis – by Type
11.6.4.2 South and Central America Petrochemicals Market Revenue and Forecast and Analysis – by Type
11.6.5 South and Central America Petrochemicals Market Breakdown by Application
11.6.5.1 South and Central America Petrochemicals Market Revenue and Forecast and Analysis – by Application
11.6.6 South and Central America Petrochemicals Market Breakdown by End-use Industry
11.6.6.1 South and Central America Petrochemicals Market Revenue and Forecast and Analysis – by End-use Industry
11.6.7 South and Central America Petrochemicals Market Revenue and Forecast and Analysis – by Country
11.6.7.1 South and Central America Petrochemicals Market Volume and Forecast and Analysis – by Country
11.6.7.2 South and Central America Petrochemicals Market Revenue and Forecast and Analysis – by Country
11.6.7.3 Brazil Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.6.7.3.1 Brazil Petrochemicals Market Breakdown by Type
11.6.7.3.2 Brazil Petrochemicals Market Breakdown by Application
11.6.7.3.3 Brazil Petrochemicals Market Breakdown by End-use Industry
11.6.7.4 Argentina Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.6.7.4.1 Argentina Petrochemicals Market Breakdown by Type
11.6.7.4.2 Argentina Petrochemicals Market Breakdown by Application
11.6.7.4.3 Argentina Petrochemicals Market Breakdown by End-use Industry
11.6.7.5 Rest of South and Central America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
11.6.7.5.1 Rest of South and Central America Petrochemicals Market Breakdown by Type
11.6.7.5.2 Rest of South and Central America Petrochemicals Market Breakdown by Application
11.6.7.5.3 Rest of South and Central America Petrochemicals Market Breakdown by End-use Industry
12. Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 Mergers & Acquisitions
14. Company Profiles
14.1 Shell Plc
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 LyondellBasell Industries NV
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Saudi Basic Industries Corp
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 BASF SE
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 INEOS Group Holdings SA
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Dow Inc
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Chevron Phillips Chemical Company LLC.
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 China Petroleum & Chemical Corp
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Mitsubishi Chemical Group Corp
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Exxon Mobil Corp
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
List of Tables
Table 1. Petrochemicals Market Segmentation
Table 2. List of Vendors
Table 3. Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Table 4. Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Table 5. Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Table 6. Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Table 7. Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 8. Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 9. Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 10. Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 11. North America Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 12. North America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 13. North America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 14. North America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 15. North America Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Country
Table 16. North America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Country
Table 17. United States Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 18. United States Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 19. United States Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 20. United States Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 21. Canada Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 22. Canada Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 23. Canada Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 24. Canada Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 25. Mexico Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 26. Mexico Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 27. Mexico Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 28. Mexico Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 29. Europe Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 30. Europe Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 31. Europe Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 32. Europe Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 33. Europe Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Country
Table 34. Europe Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Country
Table 35. Germany Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 36. Germany Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 37. Germany Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 38. Germany Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 39. France Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 40. France Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 41. France Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 42. France Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 43. Italy Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 44. Italy Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 45. Italy Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 46. Italy Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 47. United Kingdom Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 48. United Kingdom Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 49. United Kingdom Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 50. United Kingdom Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 51. Russia Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 52. Russia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 53. Russia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 54. Russia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 55. Rest of Europe Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 56. Rest of Europe Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 57. Rest of Europe Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 58. Rest of Europe Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 59. Asia Pacific Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 60. Asia Pacific Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 61. Asia Pacific Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 62. Asia Pacific Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 63. Asia Pacific Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Country
Table 64. Asia Pacific Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Country
Table 65. Australia Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 66. Australia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 67. Australia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 68. Australia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 69. China Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 70. China Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 71. China Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 72. China Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 73. India Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 74. India Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 75. India Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 76. India Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 77. Japan Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 78. Japan Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 79. Japan Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 80. Japan Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 81. South Korea Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 82. South Korea Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 83. South Korea Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 84. South Korea Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 85. Rest of APAC Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 86. Rest of APAC Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 87. Rest of APAC Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 88. Rest of APAC Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 89. Middle East and Africa Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 90. Middle East and Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 91. Middle East and Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 92. Middle East and Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 93. Middle East and Africa Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Country
Table 94. Middle East and Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Country
Table 95. South Africa Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 96. South Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 97. South Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 98. South Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 99. Saudi Arabia Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 100. Saudi Arabia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 101. Saudi Arabia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 102. Saudi Arabia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 103. United Arab Emirates Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 104. United Arab Emirates Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 105. United Arab Emirates Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 106. United Arab Emirates Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 107. Rest of Middle East and Africa Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 108. Rest of Middle East and Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 109. Rest of Middle East and Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 110. Rest of Middle East and Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 111. South and Central America Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 112. South and Central America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 113. South and Central America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 114. South and Central America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 115. South and Central America Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Country
Table 116. South and Central America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Country
Table 117. Brazil Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 118. Brazil Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 119. Brazil Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 120. Brazil Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 121. Argentina Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 122. Argentina Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 123. Argentina Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 124. Argentina Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
Table 125. Rest of South and Central America Petrochemicals Market – Volume and Forecast to 2031 (Million Tons) – by Type
Table 126. Rest of South and Central America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Type
Table 127. Rest of South and Central America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by Application
Table 128. Rest of South and Central America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion) – by End-use Industry
List of Figures
Figure 1. Petrochemicals Market Segmentation, by Geography
Figure 2. Porter’s Five Forces Analysis
Figure 3. Ecosystem Analysis: Petrochemicals Market
Figure 4. Petrochemicals Production Chain
Figure 5. Indian Plastics Exports — by Product (2022–2023)
Figure 6. Global Plastics Production — by Polymer, 2022
Figure 7. Fluctuation in US Retail Regular Gasoline Prices and Refiner Acquisition Cost of Crude Oil
Figure 8. Impact Analysis of Drivers and Restraints
Figure 9. Petrochemicals Market Volume (Million Tons), 2021–2031
Figure 10. Petrochemicals Market Revenue (US$ Billion), 2023–2031
Figure 11. Petrochemicals Market Volume (Million Tons), 2021–2031
Figure 12. Petrochemicals Market Revenue (US$ Billion), 2023–2031
Figure 13. Petrochemicals Market Share (%) – Type, 2023 and 2031
Figure 14. Ethylene: Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Figure 15. Ethylene: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 16. Benzene: Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Figure 17. Benzene: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 18. Propylene: Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Figure 19. Propylene: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 20. Xylene: Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Figure 21. Xylene: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 22. Others: Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Figure 23. Others: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 24. Petrochemicals Market Share (%) – Application, 2023 and 2031
Figure 25. Polymers: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 26. Paints and Coatings: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 27. Solvent: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 28. Rubber: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 29. Adhesives: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 30. Surfactants: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 31. Others: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 32. Petrochemicals Market Share (%) – End-use Industry, 2023 and 2031
Figure 33. Packaging: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 34. Automotive: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 35. Construction: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 36. Electrical and Electronics: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 37. Healthcare: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 38. Agriculture: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 39. Aerospace and Defense: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 40. Others: Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 41. Petrochemicals Market Breakdown by Region, 2023 and 2031 (%)
Figure 42. North America Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Figure 43. North America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 44. North America Petrochemicals Market Breakdown by Type (2023 and 2031)
Figure 45. North America Petrochemicals Market Breakdown by Application (2023 and 2031)
Figure 46. North America Petrochemicals Market Breakdown by End-use Industry (2023 and 2031)
Figure 47. North America Petrochemicals Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 48. United States Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 49. Canada Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 50. Mexico Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 51. Europe Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Figure 52. Europe Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 53. Europe Petrochemicals Market Breakdown by Type (2023 and 2031)
Figure 54. Europe Petrochemicals Market Breakdown by Application (2023 and 2031)
Figure 55. Europe Petrochemicals Market Breakdown by End-use Industry (2023 and 2031)
Figure 56. Europe Petrochemicals Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 57. Germany Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 58. France Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 59. Italy Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 60. United Kingdom Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 61. Russia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 62. Rest of Europe Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 63. Asia Pacific Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Figure 64. Asia Pacific Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 65. Asia Pacific Petrochemicals Market Breakdown by Type (2023 and 2031)
Figure 66. Asia Pacific Petrochemicals Market Breakdown by Application (2023 and 2031)
Figure 67. Asia Pacific Petrochemicals Market Breakdown by End-use Industry (2023 and 2031)
Figure 68. Asia Pacific Petrochemicals Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 69. Australia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 70. China Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 71. India Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 72. Japan Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 73. South Korea Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 74. Rest of APAC Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 75. Middle East and Africa Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Figure 76. Middle East and Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 77. Middle East and Africa Petrochemicals Market Breakdown by Type (2023 and 2031)
Figure 78. Middle East and Africa Petrochemicals Market Breakdown by Application (2023 and 2031)
Figure 79. Middle East and Africa Petrochemicals Market Breakdown by End-use Industry (2023 and 2031)
Figure 80. Middle East and Africa Petrochemicals Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 81. South Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 82. Saudi Arabia Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 83. United Arab Emirates Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 84. Rest of Middle East and Africa Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 85. South and Central America Petrochemicals Market – Volume and Forecast to 2031 (Million Tons)
Figure 86. South and Central America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 87. South and Central America Petrochemicals Market Breakdown by Type (2023 and 2031)
Figure 88. South and Central America Petrochemicals Market Breakdown by Application (2023 and 2031)
Figure 89. South and Central America Petrochemicals Market Breakdown by End-use Industry (2023 and 2031)
Figure 90. South and Central America Petrochemicals Market Breakdown by Key Countries, 2023 and 2031 (%)
Figure 91. Brazil Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 92. Argentina Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 93. Rest of South and Central America Petrochemicals Market – Revenue and Forecast to 2031 (US$ Billion)
Figure 94. Heat Map Analysis by Key Players
Figure 95. Company Positioning & Concentration
The List of Companies - Petrochemicals Market
- BASF SE
- BP Plc
- Chevron Phillips Chemical Company LLC
- China Petroleum Corporation
- DOW Inc
- INEOS
- LyondellBasell Industries Holdings BV
- Mitsubishi Chemical Corp.
- SABIC
- Shell International BV
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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