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Petrochemicals Market in MENA 2015-2019 Market Major Manufactures, Trends, Demand, Share, Analysis

Tuesday, October 25, 2016 3:34
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The petrochemicals market in MENA to grow at a CAGR of around 6%, in terms of volume, during the forecast period. The increased demand for petrochemical products from the automotive industry is the primary driver for the growth of this market. The automotive sector accounts for more than 15% consumption of the overall petrochemicals produced globally, with the MENA region accounting for 20% of the global production. For instance, the use of petrochemical products can increase the fuel efficiency of automobiles by nearly 30%.

The growing awareness towards greener environment and the increased focus towards vegetation as a replacement for chemical feedstock is expected to deter the market growth during the forecast period. Bio-based chemicals are replacing the traditional petroleum-based production of chemicals due to the reducing crude oil reserves and fluctuating prices.

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Product segmentation and analysis of – ethylene, methanol, propylene, aromatics

Ethylene dominated the petrochemicals market in MENA during 2014, with a market share of 38%. This segment is expected to continue its leadership until the end of 2019, growing at a rate of 7%. The increased use of ethylene for the production of ethylene glycol is driving the growth of this segment. Ethylene glycol is used extensively across the world for the production of polyethylene terephthalate and polyester fibers for use in packaging and fabric industries.

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The petrochemicals market in MENA is highly consolidated with the ten key suppliers and their subsidiaries accounting more than 70% of the market in terms of capacity. The market experienced high levels of capacity additions and is currently facing the issue of overcapacity and supply in various individual product segments.

Key Vendors in Petrochemicals Market in MENA 2015-2019 Market:

• Sidi Kerir Petrochemicals

• Industries Qatar

• SABIC

• NPC

• APC

• Sipchem

• Sahara

• Yansab

• Kayan

• Petro Rabigh

 

Other prominent vendors in the market include ADNOC, TAKREER, APPC, Agrin DP, Ajman Industrial Gases, Al Intaj Sulphochemical Industries, KEMYA, Alujain Corporation, AKPC, AMS, IBN RUSHD, PETROKEMYA, ARPC, Aromatics Oman, Arvand Petrochemical, Arya Sasol Polymers, Badar Petroleum FZE, BIPC, and more.

 

The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -

• Ethylene

• Methanol

• Propylene

• Aromatics

 

Segmentation by application and analysis of – polymer production, fertilizers, commodity trade

Polymer production accounted for 50% of the market share during 2014 and is expected to grow at a CAGR of 6% during the forecast period. The increased demand for polymers, especially polyethylene and polypropylene-based thermoplastics and elastomers, from the automotive industry, is driving the growth of this segment. Polymers are used in the automotive industry as a replacement for traditional heavy metals resulting in weight reduction and fuel optimization in vehicles.

 

The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -

• Polymer

• Fertilizers

• Commodity trade

• Intermediates and other downstream products

 

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Key questions answered in this Petrochemicals Market in MENA 2015-2019 Market 2016-2020 report:

• What will the market size be in 2020 and what will the growth rate be?

• What are the key market trends?

• What is driving this market?

• What are the challenges to market growth?

• Who are the key vendors in this market space?

• What are the market opportunities and threats faced by the key vendors?

• What are the strengths and weaknesses of the key vendors?

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About Absolute Report:

Absolute Reports is an upscale platform to help key personnel in the business world in strategizing and taking visionary decisions based on facts and figures derived from in depth market research. We are one of the top report resellers in the market, dedicated towards bringing you an ingenious concoction of data parameters.

Contact–

Mr. Ameya Pingaley

Absolute Reports

+1-408 520 9750

Email – sales@absolutereports.com

www.absolutereports.com

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