Jan. 12, 2012
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The petrochemicals industry has undergone rapid changes in last decade and now it is in transition phase. The focus of petrochemical companies towards attaining economies of scale and geographic expansion has led to the consolidation of the global petrochemical industry. Petrochemicals producers are looking to diversify their product portfolios and trying to reach demand rich geographies. This has led to increase number of partnership between companies of different region. Since European and North American producers are grappling with declining demand they are setting up joint venture with Asian or Middle East companies to sustain their profit margin. In the recent past majority of joint venture deals have happened in the Middle East and Asia Pacific. Asia Pacific was the most popular region to enter into joint venture deals in 2010. China has established itself as largest petrochemicals market owing to impressive demand from its large population. Demand of basic petrochemicals and major plastics was 124.703 MMtpa in 2010 and is expected to increase to 215.033 MMtpa in 2015 at a CAGR of 11.5%. To sustain in the difficult time, it is crucial to have presence in the growing Asian markets especially China. Due to this, there has been increase in number of joint ventures in Asia Pacific in last five years.
Reasons to Buy
Explore Comprehensive list of Tables and Figures available in the report Joint Ventures in the Petrochemical Industry - Key Strategy to Manage Globalization@http://www.reportsnreports.com/reports/143695-joint-ventures-in-the-petrochemical-industry-key-strategy-to-manage-globalization.html