Petrochemicals Market Industry Outlook, Market Dynamics and Forecast 2020

Posted by vamshi krishna on November 16th, 2020

The Business Research Company’s latest report Petrochemicals Global Market Report 2020 covers Petrochemicals market drivers, Petrochemicals market trends, Petrochemicals market segments, Petrochemicals market growth rate, Petrochemicals market major players, and Petrochemicals market size. The report provides in-depth analysis of the impact of COVID-19 on the Petrochemicals industry, along with revised market numbers due to the effects of the coronavirus.

View Complete Report: https://www.thebusinessresearchcompany.com/report/petrochemicals-market

Petrochemicals Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.

The global petrochemicals market reached a value of nearly 6.5 billion in 2019, having increased at a compound annual growth rate (CAGR) of 3.7% since 2015. The market is expected to decline from 6.5 billion in 2019 to 4.1 billion in 2020 at a compound annual growth rate (CAGR) of –4.9%. The decline is mainly due to lockdown and social distancing norms imposed by various countries and economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is expected to grow slightly from 0.96 billion in 2021 to 1.01 in 2023 at a CAGR of 0.01%.  The market is expected to stabilize and reach 3.6 billion in 2025 and 6.1 billion in 2030.

The report covers the petrochemicals market’s segments- 
1) By Type: Ethylene, Propylene, Benzene, Xylene, Styrene, Toluene, Cumene, Others
2) By End-User: Textile, Furniture, Paints And Coatings, Pharmaceuticals, Synthetic Rubber And Fibers, Plastic Materials And Resins, Toiletries And Cleaning Compounds, Others.

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