MENA Petrochemicals Market 2015-2019 – Ethylene, Methanol, Propylene & Aromatics – Research and Markets
By Business Wire News
Research and Markets (http://www.researchandmarkets.com/research/xqs8t7/petrochemicals) has announced the addition of the “Petrochemicals Market in MENA 2015-2019” report to their offering.
Research predict the petrochemicals market in MENA to grow at a CAGR of around 6%, in terms of volume
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.
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.
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 leading vendors in the market are
– Sidi Kerir Petrochemicals
– Industries Qatar
– Petro Rabigh
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the Report
Part 03: Market research methodology
Part 04: Introduction
Part 05: MENA Petrochemical Market
Part 06: Market segmentation by application
Part 07: Market segmentation by product type
Part 08: Key leading countries
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Impact of drivers and challenges
Part 13: Market trends
Part 14: Vendor landscape
Part 15: Key vendor analysis
For more information visit http://www.researchandmarkets.com/research/xqs8t7/petrochemicals
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Sector: Chemicals, Petrochemicals