Petrochemicals Market to Reach US$ 885.07 Bn by 2020

The global petrochemicals market is expected to grow at a significant rate in the next few years to come. According to a report by Transparency Market Research, the global petrochemical market will be witnessing modest competition in the coming years. To lead and dominate the market, the key players in the market are focusing on mergers and collaboration with various small size and regional companies.

To know more, Request Sample@ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1316

Some of the leading companies operating in the global petrochemicals market are Sinopec Limited, Chevron Phillips Chemical Company LLC, E.I. du Pont de Nemours and Company, Shell Chemical Company, Total S.A., Sumitomo Chemical Co. Ltd., SABIC, LyondellBasell Industries, ExxonMobil, The Dow Chemical Company, and BASF SE.

The global petrochemical market is anticipated to rise at a significant CAGR of 6.80% during the forecast period of 2014 to 2020. The global market is expected to reach valuation worth US$885.1 bn by the end of the forecast period. The global petrochemical product segment is led by ethylene segment and is expected to lead during the forecast period. Geographically, Asia pacific is leading the market due to substantial contribution of China. This region will be dominating the market as it holds major shares of the global petrochemical market.

For More Information,Request Brochure@

https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=1316

Rise in End User Consumption to Encourage Global Petrochemicals Market

The global petrochemical market is expected to rise significantly due to increasing demand for product portfolio and the expanding application areas. Emerging economies are demanding petrochemicals for various applications thus, leading to rise in demand in the global market. Rise in construction industry will boost the market growth. Automotive sector is also showing significant rise in the consumption of petrochemicals.