Petrochemical is the chemical by-product derived from petroleum. This chemical compound is obtained from fossil fuels, like coal, natural gas, or from renewable sources like corn or sugarcane. There are two major types of petrochemical classes namely olefins and aromatics. These classes are the building blocks for material such as solvents, detergents, and adhesives. Olefins comprise of ethylene, propylene, butadiene, and butylene; and aromatics include benzene, toluene and xylene isomers.
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In the petrochemical market report, the products segment the market by ethylene, propylene, benzene, ethylbenzene, styrene, toluene, cumene and butadiene. The major application of the chemical compound is as lubricants, additives, catalysts, marine fuel oil and petroleum refining for many industries. Geographically, petrochemical market is spread in regions of North America, Latin America, Europe, Asia Pacific and Rest of the World (RoW). North America is now a saturated market that is growing steadily, and Asia Pacific and Rest of the World are the fastest growing market respectively.
Petrochemical industry was facing restraints due to price volatility and biobased alternatives. However, the market is steadily growing owing to demand from downstream requirements. High investments and volatile prices had adverse effect on the petrochemicalís industrial performance.
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SEGMENTATIONS IN REPORT:
#Petrochemical By Products:
#Petrochemical By Application:
- Marine Fuel Oil
- Petroleum Refining
#Petrochemical By Geography:
- Asia Pacific
- North America
- Latin America
- Middle East And Africa
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