Global Petrochemicals Market to Proliferate With Increasing Demands: Ken Research

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Global Petrochemicals Market to Proliferate With
Increasing Demands Ken Research
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The largest market and most dominant region in
the global petrochemicals market in 2016 has been
observed as Asia due to the presence of a robust
manufacturing industry in China and South East
Asia which have prolonged the usage of
petrochemicals on a large scale. Europe and
America have turned out to be the second and
third largest markets for petrochemicals
respectively after Asia.
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One of the key drivers that are expected to drive
the petrochemicals industry in the period
2016-2020 is the expected increase in demand of
the products by the Packaging industry. The
growth in the demand for plastics packaging
globally has been recorded, mainly due to the
growth in those industries which consume products
of plastic packaging. Due to the increasing
keenness on the side of the producers to have an
enhanced packaging of their products, the
packaging industry is growing considerably, both
in terms of revenue growth and in product
innovation. Also, Asia is a leading end-user
market for many products of petrochemicals
industry, which is resulting in the growth of the
industry significantly. The report titled,
Petrochemicals Market Global Report 2017,
focuses on the global petrochemical market and
covers various characteristics of the market like
its shape and size.
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The report also lays forth the competitive
landscape of the global petrochemicals market and
gives a detailed analysis of the key players in
the market, their revenues, descriptions and
market shares. The main products involved in the
petrochemical industry are Benzene, Propylene,
Ethylene, Toluene, Xylene, Styrene, and Cumene
and the various dominant regions are Asia,
Europe, Middle East, Oceania, Africa etc. Today,
the petrochemical industry has become
indispensable owing to the enormous role it plays
in the manufacturing and various consumption
sectors which roll out products like plastics,
paint, dyes, rubber, fertilizers, detergents,
textiles and solvents. In the beginning of the
21st century, Middle East has emerged as a
production hub for petrochemical products due to
availability of the low cost feedstock for the
industry and due to the rapid growth in demand in
China for petrochemical products, the major
consumption centers are shifting from Europe and
America to Asia.
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The chemical intensive and export driven
manufacturing industries of China are demanding
petrochemical products like never before and
thereby giving rise to increased consumption in
those regions. India has also emerged as a high
consumption region globally. The emergence of
state-run National Chemicals and Oil Companies as
important players in the global petrochemical
market has forced the established companies of
the West to exit or shrink themselves in size or
realign themselves by partnering with the
National companies being established in the
Eastern regions so that they can mark their
presence in the areas with large consumption
centers and not lose out the opportunities to
cater to them. The partnerships and strategic
alliances are the only way these companies can
catch up to the Asian companies which are
profiting from the Asian Petrochemical boom.
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However, apart from opportunities, several
challenges also lay in the path, notably relating
to carbon emissions, climate change in the wake
of increasing environmental concerns globally.
This calls for a well-planned out and efficient
roadmap for these companies to follow in the
uncertain future tackling the challenges and
exploiting the opportunities. It can thereby be
concluded that undoubtedly the market will
prosper in the coming years but it also has to
face a lot of hurdles that may intervene in the
overall expansion. Key Factors Considered in the
Report Global Petrochemicals Market Research
Report Global Petrochemicals Import Value Global
Petrochemicals Export Value Global Petrochemicals
Market Size Global Ethylene Market Trends
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• Global Petrochemicals Industry Future Outlook
• Global Benzene Industry Analysis
• Global Chemical and Petrochemical Market Trends
• Global Refining Petrochemicals Market Analysis
• Global Petrochemical Industry Services
• Asia Petrochemicals Market Research Report
• Europe Petrochemicals Market Research Report
• Saudi Arabia Petrochemicals Market Research
  Report
• For further reading click on the link below
• https//www.kenresearch.com/metal-mining-and-chemi
  cals/chemicals/petrochemicals-global-report/122995
  -101.html

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acific-dispersants-market/122898-101.html Contact
Ken Research Ankur Gupta, Head Marketing
Communications query_at_kenresearch.com 91-124-42302
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