Hydrocarbon is an organic chemical compound composed of elemental carbon and hydrogen. There are basically two types of hydrocarbons and aromatic hydrocarbons. Aliphatic hydrocarbons are further divided into alkanes, alkenes, and alkynes, and aromatic hydrocarbons are classified as either arenes or Non-benzenoid aromatic hydrocarbons. Hydrocarbons are a crucial source of energy, generating heat and light through combustion, and are utilized for powering transportation, heating, and electricity generation. They are also utilized as raw materials for manufacturing various products, such as plastics, synthetic fibers, paints, and adhesives. Further, owing to increase in demand for hydrocarbon in different industries, the hydrocarbon market is expected to grow at a significant rate during the forecast period.
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Hydrocarbon market is a fragmented market due to the presence of various players. The players are focusing on increasing their manufacturing capacity and are offering competitive prices to gain high market share and establish their position in the market. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Reliance Industries Ltd. (India), Totalenergy SE (France), Exxon Mobil Corporation (United States), Chevron Corporation (United States), Sasol Chemicals Llc. (United States), Bp Plc (United Kingdom), Shell Plc (United Kingdom), Lyondellbasell Industries N.V. (Netherlands), Dupont De Nemours Inc. (United States), China Petroleum and Chemical Corporation (China), Recochem Corporation and Indian Oil Corporation Ltd (India) are some of the key players that are part of study coverage.
AMA Research has segmented the market of Global Hydrocarbons market by Type (Aliphatic and Aromatic), Application (Pharmaceutical, Automotive, Chemical, Plastic and Others) and Region.
On the basis of geography, the market of Hydrocarbons has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Hydrocarbons market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Increasing Concern for Environment Pollution and Increasing Demand for Cleaner and more Sustainable Sources of Energy
Market Growth Drivers:
Growing Demand for Hydrocarbon in the Pharmaceutical Industry, High Demand for Hydrocarbon in the Plastic and Cosmetic Industry and Due to Advancement in Drilling Technology Hydrocarbons are Affordable
Lack of Skilled Workforce
Long Term Contact Leads to Health-Related Problem
Increasing Use of Hydrocarbon as a Combustion Fuel and Rising Technological Advancement for Reducing Carbon Emissions
Market Leaders and their expansionary development strategies
In December 2021, ExxonMobil Chemical Company acquired California-based Materia, Inc., a technology company pioneered the development of Nobel prize-winning technology to manufacture a new class of materials. ExxonMobil used this acquisition to bring Nobel prize-winning technology to up-scale in industry and introduced new class of hydrocarbon based material with performance and sustainability advantages. This acquisition strengthens the position of ExxonMobil chemical company in hydrocarbon market
In January 2023, RIL started the production of gas from MJ field at KG D6 in March. This increased output by 58% to 330million standard cubic meters a day. This new production line enhanced gas production and expand its presence in hydrocarbon fuel market
Key Target AudienceHydrocarbon Manufacturers, Distributors, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.