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Global Petrochemical Market (By Type & Region): Insights & Forecast (2022-2026)
The major regional markets (Asia Pacific, North America, Europe, Latin America and Middle East & Africa) have been analyzed.
By: Koncept Analytics
The global petrochemical market by type can be segmented as follows: polypropylene, benzene, toluene and polyethylene. Polyethylene is widely used in consumer goods industry ranging from fashion apparel to sports goods to toys, due to its ability to handle physical stress. The global polyethylene market by type can be segmented as follows: Linear Low-Density Polyethylene (LLDPE), Low-Density Polyethylene (LDPE) and High-Density Polyethylene (HDPE). In 2021, the dominant share of the market was being held by LLDPE, followed by LDPE and HDPE.
The global petrochemical market by region can be segmented as follows: Asia Pacific, North America, Europe, Latin America and Middle East & Africa. The largest share of the market was being held by Asia Pacific, followed by North America, and Europe. Factors such as increasing demand from end use industries, economic development and capacity additions helped in boosting market growth.
The COVID-19 pandemic affected the global petrochemical market negatively. Travel restrictions, dwindling prices of oil & gas, production cuts, and growing requirement for chemicals and refined products hindered the growth of the market for petrochemicals.
Scope of the report:
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