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Emerging Markets In Asia And Middle East Hold Opportunities For Petrochemicals Companies

Emerging Markets In Asia And Middle East Hold Opportunities For Petrochemicals Companies

Emerging Markets In Asia And Middle East Hold Opportunities For Petrochemicals Companies

LONDON, GREATER LONDON, UK, September 28, 2017 /EINPresswire.com/ -- Given the sensitivity of the petrochemicals industry, petrochemicals companies in Asia have to be constantly aware of what goes on in the Middle East, Europe and the Americas. In this regard, petrochemicals in Asia are expected to show the fastest growth in the forecast period from 2016 to 2020 according to the “Petrochemicals Global Market Report 2017” by The Business Research Company (TBRC). According to TBRC analysis, Asia provides the most attractive opportunities for investors in the petrochemicals industry. The petrochemicals market in Asia was valued at around $700 billion in 2016 and it is expected to reach over $1 trillion by 2020. The strong growth of the market in the region can be attributed to economic growth of Asian countries and hostage of the chemicals hubs such as China and India.
Petrochemicals are chemicals products derived from petroleum. They are also called petroleum distillates. Petrochemicals companies procure feedstock from natural gas, and crude oil from oil and gas companies and store them in storage tanks. After refining they produce petrochemicals such as ethylene, propylene, butadiene and other derivatives and supply them to other industries such as the automotive, packaging, construction and broader chemicals industries.
Petrochemicals market in the Middle East and Africa also shows a potential in the projected period for investments. The market of petrochemicals was valued at about $8 billion in 2016. Following the forecast growth of 9.3% the value of the market is projected to reach $12 billion in 2020. Such strong growth of the petrochemicals market in this region is because of the gulf countries which are known to account for close to half of world’s known crude-oil reserves.
In the report TBRC recommends chemical companies to migrate to low cost locations. Many North American and European petrochemicals companies have started 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 (http://www.businesswire.com/news/home/20110110006191/en/Research-Markets-Top-Ten-Trends-Petrochemical-Industry).

Where to Learn More
Read Chemicals Market Global Report 2017 from The Business Research Company for information on the following:
Markets covered: Petrochemicals, plastics materials and resin, and general chemicals products
Companies mentioned: Sinopec, BASF, Dow Chemical, LyondellBasell, Bayer, Dupont, Saudi Basic Industries Corporation, Exxon Mobil, Ineos
Countries: China, India, Japan, UK, Germany, France, Italy, Spain, Russia, USA, Brazil
Regions: Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa, Oceania.
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, population, GDP, Expenditure Per Capita, Chemicals Indicators Comparison, Chemicals Enterprise And Employee Comparison, Energy Consumption In The Chemicals Industry, Chemicals Industry International Trade And Production.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Interested to know more? Here is a full scope of Chemicals Market reports to explore:
1. Chemicals Market Global Report 2017 (https://www.thebusinessresearchcompany.com/our-research/chemicals/chemicals-market-global-report-2017/)
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