Global Olefins and Aromatics Market
The global olefins and aromatics market is expected to reach USD 899.46 billion by 2031 from USD 617.56 billion in 2023, growing with a substantial CAGR of 4.94% in the forecast period of 2024 to 2031.
Market Segmentation:
Global Olefins and Aromatics Market, By Product (Ethylene, Propylene, Xylene, Benzene, Toluene, and Butadiene), Vertical (Packaging, Building and Construction, Automotive, Electronics and Electricals, Household, Healthcare, Agriculture, and Others), Countries (U.S., Canada, Mexico, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Philippines, Singapore, Australia and New Zealand, Myanmar, Brunei, Cambodia, Laos, rest of Asia-Pacific, Germany, Italy, Russia, France, Spain, Poland, U.K., Belgium, Netherlands, Turkey, Luxemburg, rest of Europe, Brazil, Argentina, rest of South America, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and rest of Middle East and Africa) - Industry Trends and Forecast To 2031
Overview of Global Olefins and Aromatics Market Dynamics:
Drivers
• Growing demand for olefins in various end-use industries
• Rise in demand for aromatic compounds by the paints & coatings industry
Restraint
• Volatility in raw material prices
Opportunity
• Advancements and innovations in production technologies and methods
Market Players:
The key players operating in the global olefins and aromatics market market are:
• Exxon Mobil Corporation
• Shell plc
• Repsol
• SABIC
• PTT Global Chemical Public Company Limited
• INEOS
• Braskem
• Sasol
• Dow
• NOVA Chemicals Corporate
• Idemitsu Kosan Co.,Ltd.
• PJSC SIBUR Holding
• PETRONAS Chemicals Group
• Chevron Phillips Chemical Company LLC
• LyondellBasell Industries Holdings B.V.
• ORLEN
• Mitsubishi Chemical Group Corporation
• Gadiv Petrochemical Industries (A subsidiaries of Bazan Group)
• Evonik Industries AG
• TPC Group
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