Market Leader - Top 15 Petrochemicals Market
The top 15 petrochemicals market report is divided into three sub parts, basic petrochemicals, basic intermediate chemicals and basic polymers. The basic petrochemicals market is projected to grow from 250.3 Million tons in 2016 to 310.3 Million tons by 2021 at a CAGR of 4.4% from 2016 to 2021. Rise in demand for commodity plastics in emerging economies in Southeast Asia and the Middle East. The growth of end-use industries such as automotive, packaging, electronics & electricals, globally is also driving the petrochemicals market.
. The market is led by giant players in petrochemicals such as SABIC (Saudi Arabia), Lyondell Basell (Switzerland), Total SA (France), British Petroleum (U.K.), Royal Shell (Netherlands). Majority of companies in the ethylene business are heavily investing in producing low cost ethylene from shale gas in North America. While Chinese companies are investing in coal to methanol plants in China, because of availability of low cost coal as an alternative to naphtha and gas oil.
Lyondell Basell (Switzerland) is a strongly backward integrated company which manufactures chemicals such as ethylene, propylene, ethylene oxide, propylene oxides as well as polymers such as polyethylene and polypropylene. The company has various patented technologies that helps them remain competitive in the market. Lyondell Basell over the years has emerged as the largest producer of commodity polymers such as polyethylene and polypropylene. It has huge manufacturing base in the U.S. which churns out low cost petroleum products. In September 2016, the company selected a new site in Texas and plans to start a new manufacturing plant of High Density Polyethylene (HDPE) with its patented Hyperzone PE technology. The plant is expected to be operational by early 2019. The company produces 3.5 million metric tons of high density polyethylene annually through sole manufacturing along with joint ventures, globally.
Royal Dutch Shell Plc (Netherlands) is one of the key companies globally in petrochemicals business. Its product portfolio consists of ethylene oxide, aromatics, olefins, and propylene oxide. The company is strongly backward integrated in the petrochemicals as well as polymer business by forming joint ventures globally. In March 2016, Shell Nanhai BV (a company within Royal Dutch Shell) and China National Offshore Corporation (CNOOC), planned to expand ethylene capacity by more than 1 million tons in China.
Related Reports:
Top 15 Petrochemicals Market (Ethylene, Propylene, Benzene, Butadiene, Toluene, Xylenes, Ethylene Oxide, Propylene Oxide, Methanol, PE, PP, PVC, PS, PET, ABS), Applications, and Region - Global Forecast to 2021
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