Petrochemicals are created using highly specific chemical reactions using coal, natural gas, oil, or other similar fossil fuels are raw materials. Almost all of the petrochemicals we use today are in fact, derived from oil and natural gas, where both resources are used as feedstock. The process of producing petrochemicals takes place at very high temperatures and under high pressures to change the physical properties of the feedstock and derive a more desirable resource. They play a very important part in the chemicals industry, where they are used in a massive number of applications. A country’s volume of petrochemicals often is a marker on its current economic development and growth, especially in its manufacturing industries.
The scope of application of petrochemicals is commonly found in the packaging industry, but also plays a key role in the industries of electronics, electrical components, automotive, agriculture, and construction. As a result of their heavy dependence on petrochemicals, these end users are expected to be primarily driven by the stockpiles of petrochemicals present. The availability of petrochemicals in a region is also directly related to the availability of oil and natural gas in the region. Therefore, locations such as the Middle East are known to be the leading providers of petrochemicals in the world.
There are, however, certain inevitable factors that need to be considered while calculating the growth trajectories of any market within the petrochemicals industry, and that is the limited availability of petrochemicals. Being derived from oil and natural gas, producers of petrochemicals have to compete with their other key use: as sources of fuel and energy. The world is currently showing a very high demand in fuel and energy and a large part of this demand is being satisfied by non-renewables. This restricts the overall use of oil and natural gas as feedstock for petrochemicals, thus raising the issue of raw material price volatility. Another issue that needs to be addressed immediately is the growing volume of pollution created through the manufacturing process of petrochemicals. The enormous environmental impact that petrochemical manufacturing can have is being taken very seriously by several regions, thereby restricting their volumes and quality from going too far off the radar.
The global petrochemicals industry can be segmented on the basis of its products, into ethylene, propylene, butadiene, toluene, xylene, benzene, styrene, and methanol. Each product segment includes a diverse array of sub-segments that are used in a large number of end-user industries. In some cases, multiple raw materials for a specific product can be petrochemicals. For instance, styrene and butadiene are both used in the manufacture of acrylonitrile butadiene styrene, one of the more commonly used polymers.
QYResearchReports.com provides its clients with a highly diverse mixture of quality reports pertaining to a large number of industry verticals, including chemicals and materials. The quality of these reports is maintained at a high standard through the use of in-depth market research studies and the use of prime research methodologies and calculative processes. The following reports are known for including rich details on the industry chain structure along the various stages of development of petrochemicals and their role in each part of the chain.
QYResearchReports.com also provides detailed descriptions of the competitive landscape of each market, wherever applicable. This allows the report users to gain valuable insight into the various stages that each company and their respective region of operation are in. This goes into helping a user understand how they can create a stronger foundation for themselves and ensure a brighter future in the petrochemicals industry.