Petrochemical Manufacturing in Canada - Industry Market Research Report

Chain reaction: Weak demand throughout North America will reduce revenue for petrochemical manufacturers

Petrochemical manufacturers in Canada mainly produce ethylene alongside other chemicals that serve as a precursor for several other chemical products that are ultimately used in the consumer and industrial sectors. Crude oil and natural gas prices influence revenue figures, as those are vital inputs in the manufacturing process. Commodity prices declined during much of the current period because of a Middle East trade war and COVID-19, so revenue was negatively impacted. COVID-19 also caused industrial production to tank, reducing demand for petrochemicals from plastic and other manufacturers, resulting in a significant drop in revenue in 2020. Demand for petrochemicals from these manufacturers picked up during the pandemic recovery, boosting revenue.

This industry manufactures petrochemicals, which are chemicals derived from petroleum and natural gas. Key products include ethylene, propylene, butylene, benzene, toluene, styrene, xylene, ethyl benzene and cumene. These products are used in the production of consumer products, automotive components and various durable and nondurable goods. Organic compounds, such as ethyl alcohol, in addition to inorganic chemicals, such as carbon black, are excluded from the industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.