Petrochemical Market to Grow by a CAGR of ~6% During 2022 – 2031

1. Global Petrochemical Market to Grow by a CAGR of ~6% During 2022 – 2031 on the Back of Increasing Demand for Plastic Research Nester published a report titled “Petrochemical Market: Global Demand Analysis & Opportunity Outlook 2031”which delivers a detailed overview of the global petrochemical market in terms of market segmentation by product, end-user, application, and by region. Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, and supply and demand risk, along with a detailed discussion of current and future market trends that are associated with the growth of the market. The global petrochemical market is estimated to garner a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. The market is segmented by end-user into aerospace, agriculture, automotive, construction, and others. Out of these, the automotive sub-segment is estimated to grow significantly during the forecast period. As

2. the sale of vehicles is increasing worldwide, the demand for petrochemical is also increasing. On account of this, the segment is expected to grow during the forecast period. Get a Sample Copy Of This Report With Graphs and Charts https://www.researchnester.com/sample-request-4125 The global petrochemical market is expected to grow during the forecast period on the back of rising demand for vehicles, fertilizers, detergents, plastics, and paints. The varied applications of petrochemicals are anticipated to boost the market growth. The petrochemicals are significantly utilized in making tires in buses, trucks, and cars. On the back of rising demand for vehicles, the global petrochemicals market is expected to grow over the forecast period. Regionally, the global petrochemicals market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. The market in the Asia Pacific region is estimated to witness significant growth over the forecast period owing to the increasing investments, and rising economic development. The North America region is also expected to offer lucrative opportunities for the growth of the market during the forecast period, owing to the favorable government guidelines in the region for extraction and production of petrochemicals. The research is global in nature and covers a detailed analysis of the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of the Middle East and Africa).

3. In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook, etc. have also been covered and displayed in the research report. Surging Demand for Plastic to Boost the Growth of the Petrochemical Market The growing demand for plastic is expected to escalate the growth of the global petrochemical market during the forecast period, as petrochemicals are used to manufacture plastics. The data released by the United Nations Principles for Responsible Investment approximately 99% of plastics are derived from petrochemical products. Owing to this the global petrochemical market is projected to witness growth during the forecast period. However, adverse environmental impacts are expected to operate as a key restraint to the growth of the global petrochemical market over the forecast period. This report also provides the existing competitive scenario of some of the key players of the global petrochemical market which includes company profiling of Reliance Industries Limited, BASF SE, Exxon Mobil Corporation, Sumitomo Chemical Co., Ltd., LyondellBasell Industries Holdings B.V, Mitsubishi Chemical Holdings Corporation., Formosa Petrochemical Corporation, Idemitsu Kosan Co., Ltd., Chevron Phillips Chemical Company LLC., and INEOS Capital Limited. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the global petrochemical market

4. that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching for possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future. Get a Sample PDF Report Download Here https://www.researchnester.com/sample- request-4125 About Us Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates, and executives to take wise decisions for their future marketing strategy, expansion and investment, etc. We believe every business can expand to its new horizon, provided the right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decisions in order to avoid future uncertainties. Contact for more Info: AJ Daniel Email: info@researchnester.com U.S. Phone: +1 646 586 9123 U.K. Phone: +44 203 608 5919