Petrochemicals Market Global Briefing 2018

Petrochemicals Market Global Briefing 2018

  • January 2018 •
  • 33 pages •
  • Report ID: 4933882 •
  • Format: PDF
Petrochemicals are chemicals products derived from petroleum. They are also called petroleum distillates.

Some of the same chemicals compounds as petrochemicals are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as corn or sugar cane but, but these are not included in the petrochemicals industry.

Asia was the largest region in the petrochemicals market in 2016, accounting for around 66% market share. Asia is the largest market because of its robust manufacturing industry, a major user of petrochemicals, in China and South East Asia.

Europe was the second largest region accounting for around 18% market share. The Americas was the third largest region accounting for around 13% market share.

Increase In Demand From the Packaging Industry was considered to be the key drivers of the petrochemicals industry during the period 2016-2020. Global demand for plastics packaging is large and growing strongly.

The major force is the growth in industries which consume plastic packaging products. Many producers across different industries are keen to enhance packaging of their products. The packaging industry is scaling new heights, not only in terms of revenue growth, but also in devising new technologies, designs and aesthetically enhanced packaging solutions. It is the leading end-user market for many petrochemicals globally.

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