Future Market Insights delivers key insights on the global petroleum liquid feedstock market in its latest report titled “Petroleum Liquid Feedstock Market: Global Industry Analysis (2013-2018) and Opportunity Assessment (2019-2027)”. The study analyses the petroleum liquid feedstock market and offers critical and in-depth insights for the forecast period.
Based on the findings specified in the report, the petroleum liquid feedstock market is expected to witness moderate growth over the forecast period, due to the increasing demand for end-products such as aromatics, motor fuels, gasoline, solvents, olefins and various other products.
The global petroleum liquid feedstock market is expected to witness steady demand across regions due to the growth of the petrochemical industry. The market is expected to grow at a CAGR of 3.9% during the forecast period (2019–2027).
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Petroleum Liquid Feedstock Market Dynamics
The global petroleum liquid feedstock market is a fairly fragmented market with global market players such as Exxon Mobil Corporation, TOTAL S.A., Royal Dutch Shell plc and various other companies, along with multiple local players spread across the world.
Well-established prominent players are focusing on increasing their production capacities of petroleum liquid feedstock as well as integrating the production capabilities of end products with petroleum liquid feedstock.
Due to their global presence and huge revenue shares, prominent players in the market are thriving with steady year-on-year growth in revenue. The local players, although large in number, occupy a significantly less share as compared to the global players in the global petroleum liquid feedstock market.
One of the main applications of petroleum liquid feedstock is in the processing and manufacturing of aromatics. The demand for aromatics in chemical and other end-use industries has been increasing, due to their application as feedstock for various products. This in turn is expected to surge the demand for petroleum liquid feedstock during the forecast period.
The automotive industry is one of the other key drivers in the global petroleum liquid feedstock market as gasoline and motor fuels are some of the key products manufactured with petroleum liquid feedstock. With the growing automotive fleet, petroleum liquid feedstock is expected to witness significant demand during the forecast period.
Petroleum Liquid Feedstock Market: Segmentation Overview
- On the basis of type, the naphtha segment was a prominent segment in the petroleum liquid feedstock market in 2017. The segment is expected to retain its position throughout the forecast period, which can mainly be attributed to the higher proportion of naphtha produced during the refinery process, as compared to its counterpart, gas oil
- On the basis of application, the aromatics segment is expected to hold a prominent market share in the global petroleum liquid feedstock market during the forecast period. Increasing demand for aromatics in the petrochemical industry is expected to drive the segment’s growth in the global petroleum liquid feedstock market. The segment is expected to create an incremental $ opportunity of US$ 9576.3 Mn in the global petroleum liquid feedstock market during the forecast period.
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Petroleum Liquid Feedstock Market: Regional Overview
The global petroleum liquid feedstock market is expected to be driven by three regions across the world: Europe, China and APEC. In 2017, these three regions collectively accounted for almost 71% of the overall market share, in terms of value, in the global petroleum liquid feedstock market. APEC, led by India, is estimated to register a relatively growth rate in the global petroleum liquid feedstock market during the forecast period.
Petroleum Liquid Feedstock Market: Vendor Insights
The report highlights some of the leading players in the global petroleum liquid feedstock market, such as BP p.l.c., Exxon Mobil Corporation, TOTAL S.A., Royal Dutch Shell plc, China National Petroleum Corporation, Chevron Phillips Chemical Company, China Petroleum & Chemical Corporation, Idemitsu Kosan Co., Ltd., Flint Hills Resources and YPF
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.