Global Petrochemicals & Polymers Market, Products (Ethylene, Propylene, Butadiene, Benzene, Xylene, Toluene, Vinyls, Styrene , Methanol) Industry Analysis, Size, Share, Growth, Trends And Forecast, 2014 - 2020
NEW YORK, Jan. 28, 2015 /PRNewswire/ -- Petrochemicals and polymers sector is a rapidly emerging sector in the chemical industry. Petrochemicals have two main classes, olefins and aromatics. A wide range of products that are used commercially and in the production of other products such as detergents, adhesive, etc. are the by-products of these two classes. Olefins acts as the base for the production of polymers, which is used in lubricants, gels, plastic items, fibers, etc. Given the wide range of products and manufacturing industries, that are dependent on these raw materials, the expansion of this industry and the growth in the market is inevitable.
Petrochemicals are predominantly manufactured in a handful of locations around the world which include Gujarat in India, Louisiana in USA and North-East England among other locations. The utility of petrochemicals & polymers, and the rising demand in various applications such as Consumer goods (Households), Construction, Electronics, Agriculture, Automobile, Healthcare, Packaging, etc., acts as the primary driver for the growth of this market. The key players in the market include BASF (Germany), Dow Chemical (USA), Bayer (Germany), Saudi Basic Industries Corporation (Saudi Arabia), and Lyondellbasell Industries (Netherlands) that command significant market shares. Their large funding and manufacturing units set up in various locations generate a vast amount of employment thus benefitting the local area.
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