Know More About The Future Of Petrochemicals

The petrochemicals market has witnessed a significant growth owing to factors such as wider application of petrochemicals in packaging, automotive, construction, electrical & electronics, and helthcare industries. Many polymers are used in the manufacturing of different types of plastic components, which finds applicationsin the automotive industries. This factor is driving the market for petrochemicals.

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Petrochemicals

Furthermore, increasing use of polymeric resins in the manufacturing of automotive components is expected to fuel the demand for polymers, which in turn will influence the market growth of petrochemicals. However, fluctuating prices of raw materials can be a challenge to the growth of this market. On the contrary, steady growth in the automotive, chemical, and construction industry will provide the opportunity for the market players to invest in the petrochemicals market.

Petrochemicals are obtained from petroleum through refining process. Some other chemical compounds prepared from petroleum can also be obtained from other fossil fuels, including coal or natural gas and renewable sources such as maize, palm fruit, and sugar cane. Highly available petrochemicals in the market are olefins (ethylene and propylene) and aromatics (benzene, toluene, and xylene isomers). Olefins and aromatics are the building-blocks for a wide range of materials including solvents, detergents, and adhesives. Olefins are used as a base for polymers and oligomers, which are used in plastics, resins, fibers, elastomers, lubricants, and gels.

Applications: polymer, paints and coatings, solvent, rubber, adhesives, surfactants.

Top 10 Manufacturers

•  BASF SE
•  British Petroleum Plc
•  Chevron Corporation
•  China National Petroleum Corporation
•  China National Petroleum Corporation
•  DuPont de Nemours, Inc.
•  ExxonMobil Corporation
•  INEOS Group Ltd.
•  Royal Dutch Shell PLC
•  The Dow Chemical Company