The Total petrochemicals exports volume (MTPA) of United States of America attained a value of 31.99 mtpa in 2020
The indicator recorded a historical growth (CAGR) of 4.50% between 2017 to 2020, and is expected to grow by...
GlobalData projects the figure to grow at a CAGR of ...
The petrochemicals exports of the US grew in 2020
The value of the US oil and gas market declined by mid-double-digit percentage in 2020, with the COVID-19 pandemic depressing demand and leading to the collapse of oil and gas prices. Strong growth is anticipated in 2021 as demand for oil and gas is set to recover, uplifting prices. The oil and gas market is expected to follow a strong growth trajectory over the rest of the forecast period, in line with the projected level of demand and higher prices based on tighter supply.
The market declined sharply in 2020 as a result of the COVID-19 pandemic, hit by a combination of negativedemand shock and a supply glut. Demand for gasoline and jet fuel oil in road transportation and aviation, respectively, declined dramatically in the first half of 2020 due to lockdown measures, and remained weak as these measures continued throughout the year. Demand for diesel and marine fuel, which are primarily used in trucks and ships for the transportation of goods, was affected, but that impact was less acute. Containment measures also had an impact on demand for gas through electricity generation, as electricity consumption has only been reduced from commercial and industrial operations that had to shut down, while residential consumption was slightly increased. On the other hand, demand for petrochemicals produced by naphtha and natural gas liquids increased due to greater demand for consumer packaging and personal protective equipment. Overall, consumption in the US oil and gas market was down by high-single digit percentage, a decline similar to the global average.
Who are the leading players?
PetroChina Company Limited is the third largest Oil & Gas company in the world. The company is based in Beijing, China and is engaged in the production and distribution of oil and natural gas. Its chemical products include Ethylene, Propylene, Benzene, Polyethylene, Polypropylene and ABS; petrochemicals fibers include Terylene fiber, Polyacrylic fiber and Polypropylene fiber; Butadiene styrene rubber, Polybutadiene rubber, Acrylonitrile-butadiene rubber, Ethylene-propylene rubber and other related chemicals. The company’s services include oil/gas transportation service, chemical sales and technology center, fuel cards and PetroChina fuel cards. It offers its products under the brand names KunLun, Entire series, and PetroChina.
BP Plc is the fourth largest Oil & Gas sector in the world. The company is based in London, United Kingdom and operates as an integrated oil and gas company. Its upstream activities include exploration, development and production of oil and natural gas, field development and production; and midstream operations include transportation, and sectoring and trading of natural gas, including liquefied natural gas (LNG), and power and natural gas liquids (NGLs). The company’s downstream operations include refining, manufacturing, sectoring, transportation, supply and trading of crude oil, petroleum, petrochemical products and provision of related services to wholesale and retail customers. BP provides fuel, energy, lubricants and petrochemicals to customers. The company has operational presence in Africa, Asia, Europe, Australasia, North America and South America.
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