The Business Research Company’s Petrochemicals Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, July 5, 2021 /EINPresswire.com/ — According to the new market research report ‘Petrochemicals Global Market Report 2021: COVID-19 Impact And Recovery To 2030’ published by The Business Research Company, the global petrochemicals market is expected to grow from $365 billion in 2020 to $429 billion in 2021 at a compound annual growth rate (CAGR) of 17.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $477 billion in 2025 at a CAGR of 3%. The petrochemicals market is expected to benefit from growth in the automobiles industry during the forecast period.
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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.
Trends In The Global Petrochemicals Market
Many petrochemical manufacturers are adopting IoT (Internet of Things) technologies to connect equipment and smart devices and obtain real time insights and identify inefficiencies in the manufacturing process. The data obtained is processed, analyzed and interpreted by plant managers and senior level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers on possible machine breakdowns.
Global Petrochemicals Market Segments:
The global petrochemicals market is further segmented based on type, end user industry and geography.
By Type: Ethylene-Petrochemicals, Propylene-Petrochemicals, Benzene-Petrochemicals, Xylene, Styrene-Petrochemicals, Toluene, Cumene, Other Petrochemicals
By End-User Industry: Construction, Packaging, Automotive & Transportation, Healthcare, Electrical & Electronics, Others
By Geography: The global petrochemicals market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global petrochemicals market, accounting for 45% of the market in 2020.
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Petrochemicals Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides petrochemicals global market overviews, analyzes and forecasts market size and growth for the global petrochemicals market, petrochemicals global market share, petrochemicals global market players, petrochemicals global market segments and geographies, petrochemicals global market’s leading competitors’ revenues, profiles and market shares. The petrochemicals global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Petrochemicals Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region 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.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets. Here is a list of reports from The Business Research Company similar to the Petrochemicals Global Market Report 2021:
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