U.S. Petrochemical Market. Analysis And Forecast to 2030
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View PricingPetrochemical Price in the United States - 2023
Contents:
- Petrochemical Price in the United States (FOB) - 2022
- Petrochemical Price in the United States (CIF) - 2022
- Petrochemical Exports in the United States
- Petrochemical Imports in the United States
Petrochemical Price in the United States (FOB) - 2022
In 2022, the average petrochemical export price amounted to $568 per ton, with an increase of 17% against the previous year. Overall, export price indicated a remarkable increase from 2013 to 2022: its price increased at an average annual rate of +6.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, petrochemical export price increased by +39.1% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 30%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($1,057 per ton), while the average price for exports to China ($384 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (+165.9%), while the prices for the other major destinations experienced more modest paces of growth.
Petrochemical Price in the United States (CIF) - 2022
The average petrochemical import price stood at $1,031 per ton in 2022, picking up by 13% against the previous year. Overall, the import price, however, showed a noticeable downturn. The pace of growth appeared the most rapid in 2021 an increase of 56%. Over the period under review, average import prices reached the maximum at $1,274 per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($2,522 per ton), while the price for Canada ($831 per ton) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+16.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Petrochemical Exports in the United States
In 2022, the amount of petrochemicals exported from the United States skyrocketed to 14M tons, picking up by 18% against the year before. Overall, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +19.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +70.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 45%. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.
In value terms, petrochemical exports soared to $7.9B in 2022. In general, exports showed a significant expansion. The growth pace was the most rapid in 2021 with an increase of 72%. The exports peaked in 2022 and are likely to continue growth in years to come.
Export of Petrochemical in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 106 | 387 | 1,036 | 1,417 | 137.3% |
Belgium | 278 | 223 | 548 | 938 | 50.0% |
Canada | 428 | 384 | 710 | 873 | 26.8% |
India | 775 | 511 | 553 | 725 | -2.2% |
Mexico | 493 | 409 | 585 | 684 | 11.5% |
United Kingdom | 214 | 161 | 180 | 325 | 14.9% |
Norway | 173 | 136 | 247 | 302 | 20.4% |
Colombia | 248 | 238 | 377 | 289 | 5.2% |
South Korea | 200 | 68.6 | 77.2 | 243 | 6.7% |
Sweden | 59.4 | 26.9 | 102 | 187 | 46.6% |
Morocco | 151 | 15.6 | 70.1 | 169 | 3.8% |
Dominican Republic | 30.4 | 37.3 | 65.7 | 146 | 68.7% |
Indonesia | 62.3 | 93.0 | 279 | 141 | 31.3% |
Others | 865 | 618 | 856 | 1,438 | 18.5% |
Total | 4,084 | 3,308 | 5,687 | 7,877 | 24.5% |
Top Export Markets for Petrochemical from the United States in 2022:
- China (3688.8K tons)
- Canada (1788.1K tons)
- India (1748.6K tons)
- Belgium (1023.2K tons)
- Mexico (865.2K tons)
- United Kingdom (781.4K tons)
- Norway (733.4K tons)
- Sweden (421.3K tons)
- Morocco (358.2K tons)
- Colombia (273.2K tons)
- South Korea (236.9K tons)
- Dominican Republic (222.5K tons)
- Indonesia (214.5K tons)
Petrochemical Imports in the United States
In 2022, approx. 1.8M tons of petrochemicals were imported into the United States; waning by -5.3% against the previous year. In general, imports showed a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 20%.
In value terms, petrochemical imports expanded significantly to $1.8B in 2022. Over the period under review, imports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 87% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.
Import of Petrochemical in the United States (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Canada | 925 | 742 | 1,195 | 1,172 | 8.2% |
Brazil | 63.8 | 25.3 | 104 | 162 | 36.4% |
South Korea | 47.7 | 56.8 | 124 | 146 | 45.2% |
Netherlands | 14.8 | 6.5 | 79.3 | 76.6 | 73.0% |
China | 9.9 | 3.4 | 6.4 | 74.5 | 96.0% |
Belgium | 17.9 | 13.4 | 58.8 | 46.7 | 37.7% |
Others | 200 | 65.3 | 137 | 170 | -5.3% |
Total | 1,279 | 912 | 1,705 | 1,847 | 13.0% |
Top Suppliers of Petrochemical to the United States in 2022:
- Canada (1410.1K tons)
- Brazil (95.9K tons)
- South Korea (83.8K tons)
- Netherlands (49.0K tons)
- Belgium (29.8K tons)
- China (29.6K tons)
This report provides an in-depth analysis of the petrochemical market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- NAICS 325110 - Petrochemical manufacturing
Companies mentioned:
- Si Group
- Inc Aerojet Rocketdyne of De
- Ineos Americas LLC
- Sapphire Energy
- Mexichem Fluor Inc.
- Marquis Energy LLC
- Hercules Incorporated
- White Energy
- Eastman Chemical Texas City
- Rubicon, Fuel South
- Rex American Resources Corporation
- Big River Resources
- Durez Corporation
- Badlands Power Fuels
- Equistar Chemicals
- Flint Hills Resources Houston Chemical
- Williams Olefins
- Big River Resources West Burlington
- White Energy Holding Company
- Westlake Olefins Corporation
- Co-Op Energy Co
- Petrologistics
- Lbdb Holdings
Country coverage:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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The U.S. has a X% share (based on USD) of global petrochemical imports, which puts it in fourth place, trailing China (X%), Belgium (X%) and Germany (X%). In 2015, U.S. petrochemical imports totaled X million USD, wh
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