Growth Opportunities for the Global Basic Petrochemical Market
The future of the global basic petrochemical industry looks good with opportunities in construction,transportation, agriculture, textile, industrial, electronics, healthcare and consumer goodsindustries. The global basic petrochemical industry is expected to reach an estimated $603.2 billionby 2021 and is forecast to grow at a CAGR of 4.9% from 2016 to 2021. The major growth driversfor this market are growing demand for basic petrochemicals in end use industries. Technologicalinnovations aimed at improving manufacturing processes to increase product yield with higherquality are expected to have a positive impact on the petrochemical industry.
In this market, ethylene, propylene, and ammonia are some of the major segments of basicpetrochemicals. Ethylene is expected to remain the largest segment due to increasing demandfrom various end use applications such as packaging and construction. Lucintel predicts that thedemand for ethylene is likely to experience the highest growth over the forecast period due to thegrowth in the polyethylene film for the food and non-food packaging applications.
For business expansion, Lucintel’s report suggests innovation to improve oils to chemicalsconversion rate and develop new crude cracking processes to reduce energy cost andenvironmental footprint. The report further suggests the development of partnerships to create winwinsituations and the development of low-cost solutions for end users.
This unique report from Lucintel will provide you with valuable information, insights, and toolsneeded to identify new growth opportunities and operate your business successfully in this market.
This report will save hundreds of hours of your own personal research time and will significantlybenefit you in expanding your business in this market. In today’s challenging economy, you needevery advantage that you can find.
Scope and Features of This Report:
To make critical business, investment, or strategic decisions, you need timely useful information.
This market report fulfills this core need and is an indispensable reference guide for materialsuppliers, product manufacturers, investors, executives, distributors, and more that operate in thismarket. Some of the features and scope of this report include the following: