June 25, 2018
WELLESLEY, Mass., June 25, 2018 – Growing demand from emerging economies such as India and China, plus low interest rates and oil prices, are conspiring to drive the global olefin derivatives market, according to a report by BCC Research.
The industry expects to see a compound annual growth rate (CAGR) of 5.6% through 2022, when it could be worth $103.4 billion, according to the report Olefin Derivatives: Global Markets to 2022.
Major players in the market mentioned in this report include Mitsubishi Chemical Holdings, Repsol, INEOS Group Holdings, Royal Dutch Shell and PetroChina, among many others.
“Low interest rates in most developed countries had a positive impact on the olefin derivatives market,” the report notes. “This increased the flow of money for investment by encouraging borrowing and helped drive the spending. Companies took loans for process improvements, expansion plans, acquisitions and other activities.”
Market Challenged by Safety Concerns and Recycled Plastics
Though growth is strong, the market is seeing some factors which could hamper growth. Safety is a major concern among manufacturers, distributors and users of olefin derivatives, with the chemicals being potentially explosive. Some states have adopted stringent regulations to govern how olefin derivatives can be used and transported. Meanwhile, environmental concerns and government regulations are promoting the use of recycled plastics, which is reducing demand for derivatives such as ethylene glycol and vinyls.
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Olefin Derivatives: Global Markets to 2022( CHM102A )
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