07 November 2019
Petroleum Liquid Feedstock Market Report 2020-2030: Forecasts by Type (Naphtha, Gasoil,) by Application (Industrial Solvents, Gasoline, Cleaning Fluids, Others), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and analysis of leading companies operating in this industry.
As it is used in the manufacture of high-quality aromatics and high octane gasoline, the increasing consumption of applications in aromatics and gasoline drives market growth. Increasing fuel consumption in the automation and domestic transport industries is further driving the growth of the sector. The fall in oil prices worldwide, however, and growing environmental concerns are the main limiting factor for the petroleum feedstock market. Though rising oil and gas prices, petrochemical growth and growing electric vehicles in the forecast period are some opportunities for market growth.
Several industries are based on petrochemicals. For their growth, these petrochemicals require a large quantity of crude oil and gas and their derivatives. Increasing petrochemical production would increase demand for primary petrochemical feedstock chemicals such as naphtha and ethane and contribute to the expansion of the global petroleum liquid feedstock market over the forecast period at a CAGR of more than 30 percent.
Exploration & refining companies are involved in extracting crude oil and natural gas in the upstream market. We manufacture natural gas and crude oil value-added petroleum products. Petroleum refineries implement advanced control and analysis techniques to optimize their refining processes and increase refinery material yields. This further drives the adoption of chemicals from petrochemical feedstock and is expected to have a positive impact on overall market growth.
The global petroleum liquid feedstock market is fragmented. The study analyses the competitive landscape of the industry and provides information on the products offered by different companies. This will help customers improve their position on the market. It also provides a detailed overview of future market developments and threats in petroleum liquid feedstock and how they impact market growth. This will help businesses to develop effective strategies to maximize opportunities for future market development.
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