Our comprehensive research on the Global Crude-to-chemicals Market (2023-2031) provides insights for businesses. It covers trends, investments, tech advancements, and major players. The report uses qualitative and statistical data from 2017-2031, including SWOT, BCG, PESTLE analysis, and visuals. It offers a full market landscape with stakeholder insights, regional outlooks, and financial considerations.
The global crude-to-chemicals market size was US$ 401.1 billion in 2021. The global crude-to-chemicals market is expected to grow to US$ 791.9 billion by 2030 by growing at a compound annual growth rate (CAGR) of 8.3% during the study period from 2022 to 2030.
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Factors Influencing the Market
The growing deployment of polymers across the automotive sector is expected to unfold growth opportunities for the crude-to-chemicals market during the analysis period. Chemicals used as crude feedstock are utilized to make plastics across the world. Ethylene can be converted into polyethylene, which comes in hard, soft, and pliable forms. Flexible plastic items are frequently made from soft, malleable polyethylene as their primary raw material. In the upcoming years, it is anticipated that as demand for plastics rises, so will ethylene demand. As a result, it will propel the demand for crude-to-chemicals during the study period.
The growing adoption of advanced technologies will bolster the growth of the crude-to-chemicals market during the analysis period. Industry players are deploying various novel technologies, such as coal to olefins (CTO), methanol to olefin (MTO), and shale gas technology in order to increase the use of olefins instead of naphtha as a raw material. Thus, such advancements are expected to increase the revenue growth of the crude-to-chemicals market.
On the contrary, growing concerns about pollution and a ban on plastic usage in various countries are expected to restrict the market growth.
Regional Analysis
The market in the Asia-Pacific region held the largest share in the base year and is expected to remain dominant throughout the projected period. Manufacturers can expand in the Asia-Pacific market, which is projected to grow at the greatest CAGR. Increased government spending, manufacturing capacity, cooperation among important regional companies, and high demand from end-use sectors are the main factors that are expected to bring opportunities for the market.
North America held the second-largest market for crude-to-chemicals, and will record significant growth due to the increased supply of natural gas liquids.
Competitors in the Market
Saudi Arabian Oil Co.
Shell Global
Indian Oil Corporation Ltd.
ExxonMobil
Sinopec
Hengli Petrochemical
Reliance Industries
Other Prominent Players
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The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.
As of the end of 2022, the Crude-to-chemicals industry experienced notable growth in its workforce. Starting in January, employment within the Crude-to-chemicals sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Crude-to-chemicals output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector’s production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.
Forecasts indicate that the global Crude-to-chemicals output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Crude-to-chemicals market, remains both its largest producer and consumer. Remarkably, China’s market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation’s GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Crude-to-chemicals market.
Market Segmentation
The global crude-to-chemicals market segmentation focuses on Technology, Application, End-Use, and Region.
By Technology
Steam Cracking Technology
De-asphalting Technology
Hydrocracking Technology
By Application
Adhesives & Sealants
Polymers
Paints & Coatings
Dyes
Surfactants
Rubber
Solvent
Others
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By End-use Industry
Automotive & Transportation
Building & Construction
Electrical and Electronics
Healthcare
Others
By Region
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America
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Table of Contents:
Chapter 1: Introduction to the Global Crude-to-chemicals Industry
Chapter 3: Dynamics of the Market
Chapter 4: Profiles of Leading Companies
Chapter 5: Competition in the Global Crude-to-chemicals Market among Players
Chapter 6: Market Size across Global Regions
Chapter 7: Application Segments in the Global Market
Chapter 8: Segment Analysis of the Global Crude-to-chemicals Industry
Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers
Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders
Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors
Chapter 12: Evaluation of Market Impact Factors
Chapter 13: Forecasted Global Crude-to-chemicals Market Size (2023-2031)
Reasons to Acquire This Report
(A) This research imparts invaluable insights tailored for senior management, policymakers, industry professionals, product innovators, sales executives, and stakeholders within the market. It equips them with the information needed to make well-informed decisions and craft effective strategies.
(B) The report delivers a comprehensive analysis of global, regional, and country-level Crude-to-chemicals market revenues, extending projections until 2030. This dataset empowers companies to gauge their market presence, recognize avenues for growth, and explore emerging markets.
(C) Through meticulous segmentation of the Crude-to-chemicals market encompassing types, applications, technologies, and end-uses, this study empowers leaders to blueprint their products and allocate resources based on the projected growth trajectories of each segment.
(D) Investors stand to gain from the market analysis by gaining insights into market scope, positioning, key drivers, challenges, limitations, expansion prospects, and potential risks. Armed with this knowledge, they can make well-considered investment choices.
(E) The report conducts an intricate analysis of competitors, unraveling their pivotal strategies and market positioning. This intelligence equips businesses with a profound understanding of the competitive landscape, enabling them to chart their own strategies accordingly.
(F) The study facilitates the assessment of Crude-to-chemicals business projections delineated by region, key countries, and prominent companies, bestowing invaluable information for investment strategizing and decision-making.
Why is our study consequential?
Our study holds paramount importance for various reasons, a few of which include:
• Assisting businesses in gauging the viability of new or existing products or services.
• Facilitating business enterprises in the identification and cultivation of novel market segments.
• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.
• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.
• Analyzing market trends to aid businesses in devising adaptive strategies.
• Guiding businesses in the optimal placement of their products.
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