PETROCHEMICALS MARKET ANALYSIS

Market News

Key Developments

1. Major companies in the market are involved in various growth strategies such as collaboration and partnership, in order to gain competitive edge in the global market. For instance, in January 2019, BASF SE, the German-based chemicals producers, and Adani Group, an Indian conglomerate, collaborated to form a joint venture of petrochemical production hub in Gujarat, India.
2. Key players in the market are focused on various strategies such as partnership and agreement, in order to enhance their market position. For instance, in May 2019, GAIL Limited, a natural gas processing and distribution company, entered into an agreement with ExxonMobil, a U.S.-based oil and natural gas company, to supply natural gas to power and transportation sector in India.
3. Major companies in the market are adopting various strategies such as capacity. expansion, in order to expand their product portfolio and enhance their market position. For instance, January 2019, Shell Chemical LP (Shell) started the production of fourth alpha olefins unit in its Louisiana, U.S. chemicals manufacturing site.