Published on : Jun 13, 2018
Albany, New York, June 13, 2018: Petrochemicals capacity market is expected to witness a steady growth with increased petrochemicals capacity worldwide. Surged use of petrochemicals across verticals is a leading contributor towards the growth of petrochemicals capacity market. Market Research Hub (MRH) in its new study titled, ‘Semi-Annual Global Petrochemicals Capacity and Capital Expenditure Outlook - Ethylene Commodity Continues to Lead in Global Petrochemicals Capacity Additions’ explains the implications of recent developments on the growth of petrochemicals capacity market.
Eco-Friendly Technology: New Trend in Petrochemicals Capacity Market
To pace up with the growing need of petrochemical commodities in various end-user industries such as automobiles, construction, medicines, and fabrics among others, manufacturers are encouraged to invest heavily in expansion of petrochemicals capacity. Manufacturers are keen on adding propane and ethane crackers to align with increased demand for ethane and propane feedstock, encouraging growth in petrochemicals capacity market. Incorporation of advanced technology is a priority to retain growth in petrochemicals capacity market.
A recent report disclosed that Eni Spa has entered into an agreement with Zhejiang Petrochemical to sell its EST (Eni Slurry Technology). The transaction is intended to transform bottom of the barrel units. This technical revamp of refining units coincides with the company’s upcoming planned capacity expected to be operational in 2020. Incorporation of EST to substitute petcoke is crucial for reducing environmental hazards. The mega project is anticipated to reflect positively on the growth of petrochemicals capacity market.
Further, petrochemicals company, Fujian Gulei is all set to commence its new ethylbenzene based plant in 2020. Badger Licencing has been assigned for site designing and engineering project with the aid of its flagship EBMax technology.
Asia and Middle-East Emerge as the Fastest Growing Patrochemicals Capacity Market
Elaborate research findings collated in the report enlightens the readers about various factors that implicate growth in petrochemicals capacity market. The report enlightens readers about the various marketing tools devised by leading manufacturers to retain their durability in petrochemicals capacity market. The report enables readers to understand the influence of marketing strategies on the purchase decisions of end-users. Additionally, the report highlights key details about the contribution of each factor on the growth of petrochemicals capacity market.
Besides illustrating the factors that impact growth of petrochemicals capacity market, the report also entails the regional presence of petrochemicals capacity market. The report encapsulates core information about the various trends that are exhibited in various regions of petrochemicals capacity market. Asia and Middle-East account for the largest number of planned petrochemicals plants expected to be functional in the near future.
Competitive Landscape in Patrochemicals Capacity Market
Detailed account of core data compiled in the report enlightens readers about the factors impacting growth. Also, readers can determine the marketing tools that shape customer preference and encourage their purchase decisions. New entrants and existing market players can analyze these crucial statistics to deduct vital insights. Report components enable market players to implement profit oriented objectives and investment plans to incur sustained profits in petrochemicals capacity market. Leading players identified in petrochemicals capacity market include, China Petrochemical Corp, Zhejiang Petrochemical Co Ltd, and Kuwait Petroleum Corporation.
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