Petrochemicals market to undergo significant change

Press Release   •   Jul 12, 2012 15:01 BST

The petrochemicals market is expected to reach a global value of $609.30 billion in 2012. The petrochemicals market is expected to undergo a period of significant change over the next decade.

The emerging markets are expected to embark on a period of significant expansions, whilst Middle Eastern competition will create irrevocable changes to the competitive landscape of the global petrochemicals market over the next decade.

The damaging effects of the Euro crisis are expected to continue for a significant portion of the next decade and this is expected to have an impact on growth in the developed regions.

Petrochemical markets in Asia are likely to see increasing competition in 2012, amid low levels of economic growth in developed nations, as product flows are being redirected towards emerging regions.

The developing economies will play a crucial role in the expansion of the petrochemicals market over the period to 2022. The value of these markets will increase dramatically and suppliers are expected to shift their focus from the developed economies to the developing economies.

Leading into 2012, China is expected to dominate the global petrochemicals market with the highest revenue increases on a percentage basis, with markets such as India, Brazil and South Korea not lagging far behind.

For more information on the petrochemicals market, see the latest research: Petrochemicals Market Report

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