In a recent published report, Kenneth Research has updated the market report for Petrochemicals and Polymers Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Petrochemicals and Polymers Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
Polyurethane is polymer made from monomer units of urethane (carbamate). Polyurethanes are versatile material which can converted in various forms such as thermosetting plastics, thermoplastics and synthetic rubber (elastomer). Most of polyurethanes are thermosetting plastics which do not melt when heated. Most commonly polyurethanes are made by the reaction of polyol and polyisocyanate. Commercially methylene diphenyl diisocyanate (MDI) and diisocyanate (TDI) are used for production of polyurethanes. Different types of polyurethanes are available in the market such as flexible polyurethane foam, rigid polyurethane foam, thermoplastic polyurethanes and polyurethane binders for variety of applications such as Automotive, building & construction, Footwear, furniture & bedding, Electronics and many other applications.
Raw materials used for the production of polyurethanes are polyol and isocynates. These materials are petrochemicals which are derived from the crude oil. TDI and MDI are the commonly used Isocynates in the market.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
There are many big players who are into the MDI, TDI and polyol market such as BASF, Bayer, Dow Chemicals, Sadara group and many more. Supply of raw material is a factor for the production of polyurethanes. In the market there is oversupply of the raw materials therefore the market is competitive. Asia Pacific is the largest supplier of raw material for the production of polyurethanes. There is no issue with supply of the raw material however the price of raw material is not stable due to fluctuation in crude oil price. These raw materials are derived from the crude oil therefore the fluctuation in oil price is a big concern here.
The two major application areas that show significant benefits in terms of energy efficiency from polyurethane are construction and transportation. In building and construction use of Polyurethane in polyurethane roof and wall insulation, wall and window insulation and pipe insulation ensures that temperatures are maintained. Use of Polyurethane in cars and trucks leads to a reduction in vehicle weight, and therefore provides greater fuel economy. Polyurethane thermal insulation in refrigerators, freezers, water heaters and other such appliances, requires less energy to power these units.
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Companies profiled include
1 BASF
2 Dow Chemicals
3 Bayer
4 Saudi Basic Industries Corporation
5 Lyondell Basell Industries
6 DuPont
7 Lanxess
8 China National Petroleum Corporation
9 Braskem
10 Aryasasol
11 Indian Petrochemicals Corporation Limited
12 INEOS,
13 Formosa Plastics
14 Akzo Nobel/Imperial Chemical Industries
15 Evonik Industries
16 Asahi Kasei,
17 Toray Industries,
18 Chevron Phillips
19 PPG Industries,
20 Shin-Etsu Chemical
21 PTT Group
22 Cargill
23 Mitsubishi Chemical
24 Rogers Corporation
25 PolyOne Corporation
26 Lotte Chemical
27 Total petrochemical
28 Hitachi Chemical
29 Lanxess
30 Arkem
This Research Report covers
1. Historical data
2. Revenue forecasts, growth rates and CAGR upto 2028
3. Industry Analysis
4. Competitive Analysis
5. Key geographic growth data
6. Deep profiles top competitive companies
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.
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