Petrochemicals Market Analysis, Forecast 2020 Segmented By Automotive Applications

The global petrochemicals market is growing at a significant pace and is likely to witness a healthy competition in the next few years. The increasing focus on the expansion of the product portfolio and the rising application areas are anticipated to encourage the growth of the global market throughout the forecast period. The market is likely to witness a substantial demand from emerging economies worldwide. Furthermore, the development of the automotive sector and the increasing construction activities are predicted to supplement the growth of the market across the globe.

According to the research study, the global market for petrochemicals is expected to reach a value of US$885.1 bn by the end of 2020. The market is likely to exhibit a progressive 6.80% CAGR between 2014 and 2020.

Rising Government Support to Bolster Global Petrochemicals Market

The rising demand from several end use industries and the rising government support in emerging economies are the key factors that are estimated to encourage the growth of the global petrochemicals market throughout the forecast period. In addition, the easy availability of raw materials in several nations of the Middle East is anticipated to accelerate the development of the overall market in the next few years.

On the flip side, a tremendous rise in the environmental issues and the rising shift towards the development of bio-based chemicals are expected to hamper the growth of the global petrochemicals market in the coming years. Nonetheless, the increasing use of shale gas and coal as a major feedstock for petrochemicals production is predicted to contribute towards the overall development of the market in the near future.

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Flourishing Automotive Industry in China to Augment Petrochemicals Market in Asia Pacific

Among the key regional segments, Asia Pacific led the global petrochemicals market in the last few years, thanks to the substantial contribution from China. The developing construction and automotive industries in China is likely to encourage the growth of the Asia Pacific market throughout the forecast period. Furthermore, India is predicted to register a progressive growth rate in the next few years and contribute significantly towards the growth of the Asia Pacific market. The robust growth of this nation can be attributed to the rising demand for several products containing petrochemicals and the rapid development of the manufacturing sector in the last few years.

Furthermore, the petrochemicals market in the Middle East and Africa is anticipated to play a significant role in the development of the overall market. This region is considered as one of the major petroleum producer, thanks to the easy availability of petroleum. The leading companies operating in this region are expected to be benefitted substantially throughout the forecast period. Europe and North America petrochemicals market are anticipated to grow at a moderate pace in the next few years.

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Rising Mergers and Acquisitions to Contribute Towards Market Growth

The global petrochemicals market has been divided on the basis of product segment into xylene, butadiene, ethylene, styrene, toluene, benzene, methanol, propylene, and vinyls. In the last few years, the ethylene segment accounted for a large share of the global market. This segment is estimated to remain in the leading position throughout the forecast period.

Some of the prominent players operating in the petrochemicals market across the globe are Chevron Phillips Chemical Company LLC, Sinopec Limited, Shell Chemical Company, E. I. du Pont de Nemours and Company, Sumitomo Chemical Co. Ltd., Total S.A., LyondellBasell Industries, SABIC, BASF SE, ExxonMobil, and The Dow Chemical Company. These companies are focusing on collaborations and mergers with regional and small-size companies in order to attain a leading position and enhance their presence across the globe.

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a

Industrial Lubricants Market: Strong Demand Across Automotive Industry, Trends To 2025

Lubricants refer to the organic or inorganic material primarily being use to decrease friction between two surfaces in contact. Lubricants play a key role in several industries as well as in commercial and residential sectors. One of their most common uses is in the lubrication of bearings and gears, allowing for their easy movement at high speeds, without loss in energy, prevent excessive generation of heat, or most importantly, prevent damage that would be caused otherwise. Industrial lubricants are, therefore, essential in enhancing the overall efficiency of a machine that contains moving parts in contact with one another. The global industrial lubricants market is currently expanding at a solid growth rate, driven by several factors and spearheaded by the likes of BP, Total, Chevron Corporation, ExxonMobil, and Shell. Browse Market Research Report @ http://www.transparencymarketresearch.com/industrial-lubricants-market.html What Impact has the Oil and Gas Industry Had

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @ http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi

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