|
|
|
Construction Industry News Releases
|
Home | Submit Press Release | Advertise | Submit Website
(Construction.IndustryNews247.Com, August 30, 2019 ) Market Overview
Petrochemical heaters procedure is an integral part and plays a vital role in petrochemical operations. Petrochemical heaters are utilized in the refinery and petrochemical industry to heat hydrocarbon for fractionation, thermal cracking, and high-temperature processing.
Market Dynamics
Petrochemicals are rapidly becoming the largest driver of oil consumption. They are set to account for more than a third of the growth in oil demand to 2030, and nearly half to 2050. The combination of a growing economy and technological development will translate into increasing demand for petrochemical products which ultimately develops the growth of the Petrochemical heaters market.
Market Segmentation
Petrochemical is chemical compounds derived from feed-stocks such as crude oil, natural gas, and gasoline. Major companies are focusing on the development of sustainable Petrochemical plants, which has led to shutting down of older, smaller, and less efficient plants. For instance, OMV, an oil and gas company headquartered in Vienna, has made the decision to invest USD 72 million in the construction of an ISO C4 plant at the Burghausen Refinery, with operations planned to start in September 2020.
Geographical Analysis
Investments and as well as the capacity expansion of Petrochemical has been increased in North America. For instance, as per AMPF, Over USD 200 billion to be invested in U.S. Petrochemical industry by 2020. The U.S. is a major exporter of petrochemical products to regions, including Europe as well as countries, such as China and India.
Competitive Analysis
The Petrochemical Heaters market is moderately competitive with new players entering the market. Some of the major players include
• Wattco,
• Gaumer,
• Schniewindt,
• Others
Download free sample: https://www.datamintelligence.com/research-report/petrochemical-heaters-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
|
|
|
|
Construction News by Sector
|
|
|
|
Industrial News TV
|
