Report Highlights
Petrochemicals Market Size And Forecast
Petrochemicals Market was valued at USD 418.9 Billion in 2019 and is projected to reach USD 613.5 Billion by 2027, growing at a CAGR of 4.9 % from 2020 to 2027.
Global Petrochemicals Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
An upsurge is being experienced in the petrochemicals market owing to an escalation in the usage of polymers in the packaging and automotive industries. The Petrochemicals market is expanding notably since the upsurge in the demand for methanol in varied end-use industries is experienced.
However, increasing environmental concerns and shift towards bio-based chemicals are the restraints for the market. The adoption of novel technologies and rapid industrialization and urbanization all over the globe can be enriching opportunities. Unstable raw material prices are a challenge for the market to grow.
Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The Global Petrochemicals Market is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market.
Global Petrochemicals Market Competitive Landscape
The Global Petrochemicals Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as BASF SE, Shell Chemical Company, DuPont, Total S.A., ExxonMobil, Sinopec Limited, Saudi Arabian Oil Co., Sumitomo Chemical Co. Ltd., Dow Inc., Chevron Phillips Chemical Company LLC, and Others.
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