Petrochemical Companies Shifting Towards The Middle East

Posted by sainath on October 22nd, 2018

Many North American and European petrochemicals companies are moving their manufacturing facilities to low-cost countries in the Middle East and Asia such as China and India to reduce operational costs and increase margins. The recent slowdown in the North American petrochemicals industry has been brought about by the increase in competition from price-competitive producers in the Middle East and Asia. The opportunities for US commodity plastics exports, for instance, have reduced. Another major reason is the resource constraints and relatively high feedstock prices in North America. Rising feedstock prices are forcing many North American petrochemicals producers to shift their production facilities to low-cost countries in the Middle East and Asia.

THE BUSINESS RESEARCH COMPANY EXPECTS THE PETROCHEMICALS MARKET TO GROW TO USD 570 BILLION BY 2021

Western Europe was the largest region in the petrochemicals market in 2017, accounting for more than half the market share.

Read report: https://www.thebusinessresearchcompany.com/report/petrochemicals-market-global-briefing-2018

According to The Business Research Company’s Consultant, Nitin Gianchandani, coal gasification as feedstock is being widely used to increase petrochemicals production. Petrochemical companies in China developed coal-based liquid fuels as a raw material to reduce its dependency on imported oil. The Chinese government is also encouraging petrochemical companies to use coal as feedstock to reduce oil and gas imports.

Sample report:https://www.thebusinessresearchcompany.com/sample.aspx?id=623&type=smp

Saudi Basic Industries Corporation (SABIC) was the largest competitor with 7.4% of the market. Its growth strategy aims at diversifying its product portfolio, increasing focus on R&D and creating joint ventures with major industry players.

Petrochemicals are chemical products derived from petroleum. They are also called petroleum distillates. Some of the same chemical compounds as petrochemicals are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as corn or sugar cane but these are not included in the petrochemicals industry.

Petrochemicals Market Global Briefing 2018 is a detailed report giving a unique insight into this market. The report is priced at USD1000 for an individual user. To use across your office, the price is USD1500 and USD2000 if you wish to use across a multinational company.

About The Business Research Company

Visit TheBusinessResearchCompany.com, mail info@tbrc.info or call +447443439350 or +918897263534 or +919160996838 for more information on this and many other titles.

The Business Research Company is a market research and intelligence company, which excels in company, market and consumer research.

It has research professionals at its offices in the UK, India and the US as well a network of trained researchers globally. It has specialist consultants in a wide range of industries including manufacturing, healthcare, chemicals and technology.

The Business Research Company's management has more than 20 years of varied business research experience. They have delivered hundreds of research projects to the senior management of some of the world's largest organizations.

Contact Information.

The Business Research Company

Europe: +44 207 1930 708

Asia: +91 8897263534

Americas: +1 315 623 0293

Email: info@tbrc.info


sainath

About the Author

sainath
Joined: June 13th, 2018
Articles Posted: 1,123

Claim 1 FREE Stock! No Purchase Necessary!
You have a 100% chance of receiving one free stock! Click to claim and have a chance to get one share of Facebook, Visa, Microsoft and others for free!
FREE App - Earn up to 25/gal cash back on gas!
Download this FREE app and earn cash-back when you buy gas, groceries and food! 100% FREE to join and FREE to earn cash back on your everyday purchases!
Quality Office Furniture USA Shipped Direct - Madison Liquidators
Nationwide vendor of quality office furnishings including Desks, Office Chairs, Conference Tables, Cubicles and more!
Earn HNT Tokens with a Helium Hotspot!
Pre-Order a Helium hotspot and earn HNT tokens that are redeemable for USD. Set it and forget it!
Lolli: Earn Free Bitcoin When You Shop Online!
Lolli is a rewards application that gives you bitcoin for shopping at your favorite online stores.
Fold - Earn free bitcoin when you shop
Earn bitcoin cashback rewards when you shop at top retailers, including Amazon, Uber, Starbucks, Chipotle, and more. Download the app, sync your payment method and start earning bitcoin today!