북미의 석유화학제품 시장 : 예측 - 지역별 분석 - 유형, 용도, 최종 이용 산업별(-2031년)

The North America petrochemicals market was valued at US$ 72.16 billion in 2023 and is expected to reach US$ 101.18 billion by 2031; it is estimated to record a CAGR of 4.3% from 2023 to 2031.

Growth in the Packaging Industry Fuels North America Petrochemicals Market

The petrochemical industry is experiencing significant growth, primarily owing to the expansion of the packaging sector. Petrochemicals, which are derived from oil & natural gas, are essential raw materials for producing plastics, resins, and synthetic fibers, which are vital components of modern packaging. As the demand for packaged goods increases in sectors such as food and beverages, healthcare, consumer goods, and e-commerce, the packaging industry has become a major contributor to the petrochemical market.

The rise of e-commerce has heightened the need for durable, lightweight, and cost-effective packaging. These requirements significantly depend on petrochemical-based products, such as polypropylene, polyethylene, and polyethylene terephthalate (PET). These materials are preferred for their strength, versatility, and recyclability, making them suitable for protecting products during transportation as well as for extending shelf life.

Additionally, the shift toward sustainable packaging, which includes innovations in bioplastics and recycling initiatives, has encouraged the petrochemical industry to innovate further, thereby expanding its market. As consumer preferences evolve toward convenience and sustainability, the demand for advanced, eco-friendly packaging solutions will continue to support growth in the petrochemical sector.

The US plastics industry was estimated to have US$ 432 billion in shipments and accountable for 1,003,000 jobs in 2020, as per the 2020 Size & Impact Report, the annual publication of the Plastics Industry Association. According to the Flexible Packaging Association, the flexible packaging industry generated US$ 41.5 billion in sales in the US in 2022. Flexible packaging is made from materials such as paper, plastic, film, and aluminum foil, or a combination of these materials. It includes products such as bags, pouches, liners, wraps, roll stock, and other flexible items. Thus, the growth of the packaging industry drives the petrochemicals market.

North America Petrochemicals Market Overview

In North America, the construction industry has been growing with the rise in residential and commercial development and significant infrastructure projects. According to a report released by the US Census Bureau, the value of total construction (private and public) investment in 2023 was US$ 2,099.0 billion, 1.5% increase from investments in 2022 of US$ 1,907.8 billion. The demand for insulation, piping, adhesives, and other materials from the sector has been a substantial contributor to the increased production of petrochemicals. Urbanization trends and government investments in infrastructure improvements, such as roadways, bridges, and public buildings, further escalate the need for high-performance materials derived from petrochemicals. For example, synthetic rubber's durability and strength are critical for producing resilient construction components such as seals, gaskets, and vibration dampers, which are essential for ensuring structural integrity and safety.

North America Petrochemicals Market Revenue and Forecast to 2031 (US$ Billion)

North America Petrochemicals Market Segmentation

The North America petrochemicals market is segmented based on type, application, end-use industry, and country. Based on type, the North America petrochemicals market is segmented into ethylene, benzene, propylene, xylene, and others. The propylene segment held the largest market share in 2023.

In terms of application, the North America petrochemicals market is segmented into polymers, paints and coatings, solvent, rubber, adhesives, surfactants, and others. The polymers segment held the largest market share in 2023.

By end-use industry, the North America petrochemicals market is categorized into packaging, automotive, construction, electrical & electronics, healthcare, agriculture, aerospace & defense, and others. The packaging segment held the largest market share in 2023.

Based on country, the North America petrochemicals market is segmented into the US, Canada, and Mexico. The US dominated the North America petrochemicals market share in 2023.

Shell Plc, LyondellBasell Industries NV, Saudi Basic Industries Corp, BASF SE, INEOS Group Holdings SA, Dow Inc, Chevron Phillips Chemical Company LLC, China Petroleum & Chemical Corp, Mitsubishi Chemical Group Corp, and Exxon Mobil Corp are some of the leading players operating in the North America petrochemicals market.

Table Of Contents

1. Introduction

• 1.1 The Insight Partners Research Report Guidance
• 1.2 Market Segmentation

2. Executive Summary

• 2.1 Key Insights
• 2.2 Market Attractiveness

3. Research Methodology

• 3.1 Secondary Research
• 3.2 Primary Research
  • 3.2.1 Hypothesis formulation:
  • 3.2.2 Macro-economic factor analysis:
  • 3.2.3 Developing base number:
  • 3.2.4 Data Triangulation:
  • 3.2.5 Country level data:

4. North America Petrochemicals Market Landscape

• 4.1 Overview
• 4.2 Porter's Five Forces Analysis
  • 4.2.1 Bargaining Power of Suppliers
  • 4.2.2 Bargaining Power of Buyers
  • 4.2.3 Threat of New Entrants
  • 4.2.4 Intensity of Competitive Rivalry
  • 4.2.5 Threat of Substitutes
• 4.3 Ecosystem Analysis
  • 4.3.1 Crude Oil and Feedstock Preparation
  • 4.3.2 Petrochemicals Manufacturers
  • 4.3.3 Distributors
  • 4.3.4 End-Use Industry

5. North America Petrochemicals Market - Key Market Dynamics

• 5.1 Petrochemicals Market - Key Market Dynamics
• 5.2 Market Drivers
  • 5.2.1 Growth in the Packaging Industry
  • 5.2.2 Surge in Demand for Polymers across Various End-Use Industries
• 5.3 Market Restraints
  • 5.3.1 Fluctuations in the Crude Oil Prices
• 5.4 Market Opportunities
  • 5.4.1 Growing Investments in Aerospace & Defense Industry
• 5.5 Future Trends
  • 5.5.1 Development of Biodegradable Petrochemical-Based Products
• 5.6 Impact of Drivers and Restraints:

6. Petrochemicals Market - North America Market Analysis

• 6.1 Petrochemicals Market Volume (Million Tons), 2021-2031
• 6.2 Petrochemicals Market Volume Forecast and Analysis (Million Tons)
• 6.3 Petrochemicals Market Revenue (US$ Billion), 2023-2031
• 6.4 Petrochemicals Market Forecast and Analysis

7. North America Petrochemicals Market Volume and Revenue Analysis - by Type

• 7.1 Ethylene
  • 7.1.1 Overview
  • 7.1.2 Ethylene: Petrochemicals Market - Volume and Forecast to 2031 (Million Tons)
  • 7.1.3 Ethylene: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 7.2 Benzene
  • 7.2.1 Overview
  • 7.2.2 Benzene: Petrochemicals Market - Volume and Forecast to 2031 (Million Tons)
  • 7.2.3 Benzene: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 7.3 Propylene
  • 7.3.1 Overview
  • 7.3.2 Propylene: Petrochemicals Market - Volume and Forecast to 2031 (Million Tons)
  • 7.3.3 Propylene: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 7.4 Xylene
  • 7.4.1 Overview
  • 7.4.2 Xylene: Petrochemicals Market - Volume and Forecast to 2031 (Million Tons)
  • 7.4.3 Xylene: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 7.5 Others
  • 7.5.1 Overview
  • 7.5.2 Others: Petrochemicals Market - Volume and Forecast to 2031 (Million Tons)
  • 7.5.3 Others: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)

8. North America Petrochemicals Market Revenue Analysis - by Application

• 8.1 Polymers
  • 8.1.1 Overview
  • 8.1.2 Polymers: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 8.2 Paints and Coatings
  • 8.2.1 Overview
  • 8.2.2 Paints and Coatings: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 8.3 Solvent
  • 8.3.1 Overview
  • 8.3.2 Solvent: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 8.4 Rubber
  • 8.4.1 Overview
  • 8.4.2 Rubber: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 8.5 Adhesives
  • 8.5.1 Overview
  • 8.5.2 Adhesives: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 8.6 Surfactants
  • 8.6.1 Overview
  • 8.6.2 Surfactants: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 8.7 Others
  • 8.7.1 Overview
  • 8.7.2 Others: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)

9. North America Petrochemicals Market Revenue Analysis - by End-use Industry

• 9.1 Packaging
  • 9.1.1 Overview
  • 9.1.2 Packaging: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 9.2 Automotive
  • 9.2.1 Overview
  • 9.2.2 Automotive: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 9.3 Construction
  • 9.3.1 Overview
  • 9.3.2 Construction: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 9.4 Electrical and Electronics
  • 9.4.1 Overview
  • 9.4.2 Electrical and Electronics: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 9.5 Healthcare
  • 9.5.1 Overview
  • 9.5.2 Healthcare: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 9.6 Agriculture
  • 9.6.1 Overview
  • 9.6.2 Agriculture: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 9.7 Aerospace and Defense
  • 9.7.1 Overview
  • 9.7.2 Aerospace and Defense: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
• 9.8 Others
  • 9.8.1 Overview
  • 9.8.2 Others: Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)

10. North America Petrochemicals Market - Country Analysis

• 10.1 North America
  • 10.1.1 North America Petrochemicals Market Overview
  • 10.1.2 North America Petrochemicals Market Revenue and Forecast and Analysis - by Country
    • 10.1.2.1 North America Petrochemicals Market Volume and Forecast and Analysis - by Country
    • 10.1.2.2 North America Petrochemicals Market Revenue and Forecast and Analysis - by Country
    • 10.1.2.3 United States Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
      • 10.1.2.3.1 United States Petrochemicals Market Breakdown by Type
      • 10.1.2.3.2 United States Petrochemicals Market Breakdown by Application
      • 10.1.2.3.3 United States Petrochemicals Market Breakdown by End-use Industry
    • 10.1.2.4 Canada Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
      • 10.1.2.4.1 Canada Petrochemicals Market Breakdown by Type
      • 10.1.2.4.2 Canada Petrochemicals Market Breakdown by Application
      • 10.1.2.4.3 Canada Petrochemicals Market Breakdown by End-use Industry
    • 10.1.2.5 Mexico Petrochemicals Market - Revenue and Forecast to 2031 (US$ Billion)
      • 10.1.2.5.1 Mexico Petrochemicals Market Breakdown by Type
      • 10.1.2.5.2 Mexico Petrochemicals Market Breakdown by Application
      • 10.1.2.5.3 Mexico Petrochemicals Market Breakdown by End-use Industry

11. Competitive Landscape

• 11.1 Heat Map Analysis by Key Players
• 11.2 Company Positioning & Concentration

12. Industry Landscape

• 12.1 Overview
• 12.2 Market Initiative
• 12.3 Mergers & Acquisitions

13. Company Profiles

• 13.1 Shell Plc
  • 13.1.1 Key Facts
  • 13.1.2 Business Description
  • 13.1.3 Products and Services
  • 13.1.4 Financial Overview
  • 13.1.5 SWOT Analysis
  • 13.1.6 Key Developments
• 13.2 LyondellBasell Industries NV
  • 13.2.1 Key Facts
  • 13.2.2 Business Description
  • 13.2.3 Products and Services
  • 13.2.4 Financial Overview
  • 13.2.5 SWOT Analysis
  • 13.2.6 Key Developments
• 13.3 Saudi Basic Industries Corp
  • 13.3.1 Key Facts
  • 13.3.2 Business Description
  • 13.3.3 Products and Services
  • 13.3.4 Financial Overview
  • 13.3.5 SWOT Analysis
  • 13.3.6 Key Developments
• 13.4 BASF SE
  • 13.4.1 Key Facts
  • 13.4.2 Business Description
  • 13.4.3 Products and Services
  • 13.4.4 Financial Overview
  • 13.4.5 SWOT Analysis
  • 13.4.6 Key Developments
• 13.5 INEOS Group Holdings SA
  • 13.5.1 Key Facts
  • 13.5.2 Business Description
  • 13.5.3 Products and Services
  • 13.5.4 Financial Overview
  • 13.5.5 SWOT Analysis
  • 13.5.6 Key Developments
• 13.6 Dow Inc
  • 13.6.1 Key Facts
  • 13.6.2 Business Description
  • 13.6.3 Products and Services
  • 13.6.4 Financial Overview
  • 13.6.5 SWOT Analysis
  • 13.6.6 Key Developments
• 13.7 Chevron Phillips Chemical Company LLC.
  • 13.7.1 Key Facts
  • 13.7.2 Business Description
  • 13.7.3 Products and Services
  • 13.7.4 Financial Overview
  • 13.7.5 SWOT Analysis
  • 13.7.6 Key Developments
• 13.8 China Petroleum & Chemical Corp
  • 13.8.1 Key Facts
  • 13.8.2 Business Description
  • 13.8.3 Products and Services
  • 13.8.4 Financial Overview
  • 13.8.5 SWOT Analysis
  • 13.8.6 Key Developments
• 13.9 Mitsubishi Chemical Group Corp
  • 13.9.1 Key Facts
  • 13.9.2 Business Description
  • 13.9.3 Products and Services
  • 13.9.4 Financial Overview
  • 13.9.5 SWOT Analysis
  • 13.9.6 Key Developments
• 13.10 Exxon Mobil Corp
  • 13.10.1 Key Facts
  • 13.10.2 Business Description
  • 13.10.3 Products and Services
  • 13.10.4 Financial Overview
  • 13.10.5 SWOT Analysis
  • 13.10.6 Key Developments

14. Appendix

• 14.1 About The Insight Partners